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Last Updated : Jul 10, 2019 11:31 AM IST | Source:

Accumulate Exide Industries; target of Rs 231: Prabhudas Lilladher

Prabhudas Lilladher recommended Accumulate rating on Exide Industries with a target price of Rs 231 in its research report dated July 09, 2019.

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Prabhudas Lilladher's research report on Exide Industries

EXID's FY19 Annual Report reflects increased efforts to enhance growth in auto and industrial verticals through new product launches, increased distribution and entry into exports market. EXID's thrust on continuous product innovation within lead acid batteries space and expected launch of lithium-ion solutions by Q3FY20 would address concerns on its readiness pertaining to mobility landscape changes. We believe that healthy growth momentum in auto replacement, industrial and exports segments would help contain weak OEM demand.


We maintain "Accumulate" with a price target of Rs231, based on 19xMar'21E standalone EPS plus Rs30 for value of investments. The stock is currently trading at 19.3x FY20E and 18.9x FY21E standalone EPS.

For all recommendations report, click here

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First Published on Jul 10, 2019 11:31 am
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