EXID's 1QFY26 PAT of INR3.2b came in ahead of our estimate of INR2.8b, aided by better-than-expected margins even as revenue was in line. While the market appears to be upbeat on EXID’s lithium-ion foray, we remain cautious about the returns from the business. Besides, the stock at ~25.5x/23x FY26/27E EPS appears fairly valued. Reiterate Neutral with a TP of INR379 (based on 20x Jun’27E EPS).
OutlookWe remain cautious about the returns from the business. Besides, the stock at ~25.5x/23x FY26/27E EPS appears fairly valued. Reiterate Neutral with a TP of INR379 (based on 20x Jun’27E EPS).
For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Exide_06082025_Motilal OswalDiscover 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!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
