2024 Q1 Result: Battery Maker Exide Sales Rose 6%, Profit Grows 16%

2024 Q1 Result: Battery Maker Exide Sale Rose 6%, Profit Grows 16%

Leading battery maker Exide Industries has reported a 6% increase in sales and a 16% rise in profit before tax for the first quarter of the financial year 2024-25. 

Exide’s revenue from operations grew by 5.9% in Q1 2025, driven by volume increases across business verticals. Operating profitability also improved despite rising commodity prices. EBITDA surged by 14.4% during the quarter, bolstered by revenue growth and cost optimization.

The company added, “In the financial results for the June quarter, which ended on June 30, 2024, the company reported an 11.5% growth in margin in the present quarter compared to 10.6% in the same period. The company reported a healthy cash flow with a comfortable balance sheet and zero debt. It identified the industrial sector, which includes IUPS, solar, traction, railways, etc., to deliver higher growth margins across the business.”

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In the first quarter of the current year, i.e., 2024, Exide invested Rs. 200 crores as equity in the subsidiary Exide Energy Solutions Limited (EESL). Additionally, the company also invested an equity of Rs. 75 crores in July 2024. This investment took the company’s total equity investment made in EESL till date to Rs. 2,577.24 crores (including investments made in the erstwhile subsidiary).

Commenting on its performance the company said, “In the current quarter, our sales growth of 6% and profit before tax growth of 16% provides a perfect start to the year. Both the automobile and industrial verticals have delivered growth in the current quarter, and near-term deliver promising results. Despite rising raw material prices, cost optimization initiatives led to a lower cost of production and gross margin improvement of nearly 240 points on a year-over-year (YoY) basis. EBITDA margin also increased to 11.5%, which is in line with our focus on increasing the overall profitability.”

The company said, “In our lithium-ion project onsite construction and installation of production line equipment is currently underway. Organizational recruiting, manpower, training, etc. are progressing well to meet the defined timeline of the project completion.

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