SP Tulsian of sptulsian.com told CNBC-TV18, "I will remain away from Exide Industries because the management also thrown caution for the Q2 numbers. Definitely Q1 numbers have been good. The profit after tax (PAT) was about Rs 158 crore. However, I don't think that this is sustainable.
He further added, "On the valuation front, if Exide is able to post an earning per share (EPS) of Rs 7 for FY13, the stock looks cheaper maybe at a PE multiple of 16-17. However, I don't think that this has the sustaining ability and I don't think that the stock has good upside from here on, so better to remain away from the stock."
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