• Exide Industries is primarily engaged in the manufacturing of Storage Batteries and allied products in India.
• EXID’s 3QFY20 operating performance was weak as benefit of lead prices was more than offset by the operating deleverage.
• 3QFY20 revenues declined by 3%. On the other hand, EBITDA grew marginally by 2% while PAT growth was at 38% YoY due lower tax benefit.
• Segmentwise auto aftermarket, UPS batteries and export business did well but demand was weak from automobile original equipment manufacturer (OEM), telecom and other infrastructure segments.
• While export business continues to do well, Exide is also expected to benefit from value migration from unorganized to organized sector to drive the future growth.
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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