Revenue from operations increased 17.8% to ₹5,528.4 crore during the quarter, compared with ₹4,695.1 crore a year earlier. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose 15.5% to ₹621 crore from ₹538 crore, while EBITDA margin eased to 11.2% from 11.5% in the year-ago period.
Profit before tax (PBT) increased to ₹487 crore from ₹384.9 crore a year ago, while total income rose to ₹5,555.3 crore from ₹4,722.7 crore. Finance costs declined to ₹19.8 crore from ₹32.4 crore in the corresponding quarter last year.
In its press release, the company said demand remained strong across its businesses, aided by the continued benefits of GST 2.0 reforms. It, however, highlighted headwinds from higher raw material costs due to the prolonged West Asia conflict and pressure from the rupee’s depreciation against the US dollar.
Managing Director and Chief Executive Officer Avik Roy said, “We have entered FY27 with strong momentum, supported by robust demand across automotive replacement, automotive OEMs, home inverters, industrial UPS, solar and exports.”
He added that despite higher raw material costs arising from the prolonged West Asia conflict and the rupee’s depreciation against the US dollar, the company implemented calibrated price increases alongside cost-efficiency and supply chain initiatives to maintain healthy profitability.
The company said all its major businesses delivered double-digit growth during the quarter. The automotive OEM business grew more than 25% year-on-year for the third consecutive quarter, while the two-wheeler and four-wheeler replacement business registered its third straight quarter of double-digit growth.
The industrial infrastructure business, excluding telecom, maintained low double-digit growth, while the inverters and solar business expanded by over 20%. Exports also returned to growth with a more than 20% increase from a low base.
Roy said, “While input cost volatility and currency movements remain key watchpoints, we expect the Bengaluru Gigafactory to commence revenue contribution during FY27, marking a significant milestone in our new energy journey.”
I would not change the next paragraph on Exide Energy Solutions because it already contains the operational details (₹100 crore infusion, ₹4,902 crore cumulative investment, production lines, customer samples) that aren’t in the quote and are worth retaining.
Exide also provided an update on its lithium-ion cell manufacturing project through subsidiary Exide Energy Solutions Ltd. The company infused ₹100 crore into the subsidiary during July, taking its cumulative equity investment to ₹4,902 crore. It said all four production lines at the Bengaluru gigafactory have now been fully installed and utility infrastructure has been commissioned.
The first customer samples from its Nickel Manganese Cobalt (NMC) cylindrical cell line were dispatched during the quarter, while the Lithium Iron Phosphate (LFP) prismatic line has also commenced sample supplies. Revenue contribution from the facility is expected to begin during FY27.
Shares of Exide Industries are trading 4.2% higher after the results announcement at ₹454. The stock, with Thursday’s move, has extended its year-to-date advance to 25%.
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