Exide Industries Q2 Results Live : Exide Industries declared their Q2 results on 04 Nov, 2024, reporting a modest topline growth of 1.8% year-on-year. However, the company’s profit took a significant hit, decreasing by 14.15% compared to the same quarter last year.
When compared to the previous quarter, Exide’s revenue showed a slight improvement, growing by 0.32%, and profit saw a 5.1% increase. These figures highlight a mixed performance as the company navigates challenging market conditions.
The Selling, General & Administrative expenses rose sharply, increasing by 2.74% quarter-on-quarter and 9.93% year-on-year, indicating rising operational costs that may be affecting profitability. Additionally, the operating income fell by 0.86% quarter-on-quarter and decreased by 8.68% year-on-year, further reflecting the pressures on the company’s earnings.
Exide reported an Earnings Per Share (EPS) of ₹2.72 for Q2, marking a decline of 13.92% year-on-year. This drop in EPS is concerning for investors looking for growth in earnings.
In terms of market performance, Exide Industries has faced challenges, delivering a -4.09% return over the past week and -3.36% over the last six months. However, the company has managed a substantial 40.02% return year-to-date, suggesting some resilience in the long-term outlook.
The company’s current market capitalization stands at ₹37,829.25 crore, with a 52-week high of ₹620.35 and a low of ₹257.75, indicating a volatile trading period for the stock.
As of 05 Nov, 2024, the sentiment among analysts is mixed. Out of 16 analysts covering Exide, 3 have given a Strong Sell rating, 2 have rated it as Sell, 5 have given Hold ratings, 4 have rated it as Buy, and 2 analysts have assigned a Strong Buy rating. The consensus recommendation remains to Hold, reflecting uncertainty in the short-term outlook.
Exide Industries Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 4450 | 4435.71 | +0.32% | 4371.52 | +1.8% |
| Selling/ General/ Admin Expenses Total | 329.96 | 321.16 | +2.74% | 300.15 | +9.93% |
| Depreciation/ Amortization | 145.91 | 143.76 | +1.5% | 141.46 | +3.15% |
| Total Operating Expense | 4123.42 | 4106.3 | +0.42% | 4013.9 | +2.73% |
| Operating Income | 326.58 | 329.41 | -0.86% | 357.62 | -8.68% |
| Net Income Before Taxes | 332.37 | 316.05 | +5.16% | 365.54 | -9.07% |
| Net Income | 231.28 | 220.06 | +5.1% | 269.4 | -14.15% |
| Diluted Normalized EPS | 2.72 | 2.59 | +5.02% | 3.16 | -13.92% |
