Time period given by analyst is one year when Exide Industries Ltd. price can reach defined target.
Exide Industries Ltd., incorporated in the year 1947, is a Mid Cap company (having a market cap of Rs 16120.25 Crore) operating in Auto Ancillaries sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 3559.30 Crore, down -22.21 % from last quarter Total Income of Rs 4575.49 Crore and up 40.27 % from last year same quarter Total Income of Rs 2537.55 Crore. Company reported net profit after tax of Rs 31.54 Crore in latest quarter.
Investment Rationale
The brokerage believes the move is directionally positive (allows EIL to focus fully on the core battery business) and also value accretive for shareholders. However, from a technology standpoint, the underlying battery industry continues to face the increasing challenge of electrification. While EIL has made investments in this space, we await firmer commitment before turning decisively positive. The forward numbers are largely unchanged from an operational standpoint. It builds exceptional gain (~Rs 5,007 crore) on account of this transaction.
Promoter/FII Holdings
Promoters held 46 per cent stake in the company as of March 31, 2021, while FIIs held 11.9 per cent, DIIs 24.6 per cent and public and others 17.5 per cent.
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