Buy Exide Industries; target of Rs 183: Sharekhan

Sharekhan is bullish on Exide Industries has recommended buy rating on the stock with a target price of Rs 183 in its research report dated July 29, 2022.

Broker Research

August 02, 2022 / 18:21 IST

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E. Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

26 Aug, 2025 12:21

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Sharekhan's research report on Exide Industries

Exide Industries (Exide) reported mixed results in Q1FY23, with revenues exceeding our expectations by 9.5%, while EBITDA margins contracting by 90 bps more than expectations. Exide is expected to benefit from a recovery in automotive demand, greater share of replacement sales, and rising sales of industrial batteries. Company procured land in Karnataka to set up multi-gigawatt lithium-ion cell manufacturing plant in technical collaboration with SVOLT Energy Solutions.

Outlook

Stock trades at attractive valuations at P/E multiple of 10.3x and EV/EBITDA multiple of 6.1x its FY2024E estimates.

For all recommendations report, click here