Exide Industries Ltd., incorporated in the year 1947, is a Mid Cap company (having a market cap of Rs 15610.25 Crore) operating in Auto Ancillaries sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4575.49 Crore, up 8.37 % from last quarter Total Income of Rs 4222.03 Crore and up 31.38 % from last year same quarter Total Income of Rs 3482.69 Crore. Company reported net profit after tax of Rs 320.01 Crore in latest quarter.
Investment Rationale
The brokerage expects the ongoing headwinds is only for near term and expect strong growth from Q2 onwards. On a SOTP basis, the brokerage values EIL at 16x on FY23EPS and Insurance business at 0.9xEV (Embedded value) and maintains buy rating at CMP.
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.
