The auto-components market is automatically dragged down when the auto sector shows signs of weakness. This is exactly what happened with battery-maker Exide Industries.
Paban Kataky, executive director- automotive, joins CNBC-TV18 to explain the dismal results the company posted for the first quarter of the fiscal. In an exclusive interview, he says that a combination of a dwindling original equipment manufacturer (OEM) and replacement market hit earnings this season. The quarter also saw lower sales in the inverter segment, owing to good weather conditions, he says. Meanwhile, the stock tanked 9% yesterday after the earnings call. "We are hopeful of a recovery in topline in the second half of the fiscal," Kataky says. Below is the verbatim transcript. Also watch the accompanying video Q: What is the bigger problem for you
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
