Buy Exide Industries; target of Rs 210: ICICI Direct

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

ICICI Direct's research report on Exide Industries

Exide Industries (EIL) is a part of the duopolistic organised Indian lead acid battery market with a presence across automotive & industrial applications. Segment mix: -automotive sales~75% & industrial application ~25% • Channel exposure to replacement/OEMs is at ~60%, ~40%, respectively • Within its automobile segment sales, it derives ~60% of sales from OEMs.

Outlook

We upgrade the stock from HOLD to BUY following a strong commitment to the Li-On technology in battery domain (setting up cell manufacturing unit in India with initial capacity of 6 GWh) and inexpensive valuations. Introducing FY25E, we value EIL at SOTP-based TP of Rs 210 (Rs161 for battery business at 15x average FY24-25E EPS, Rs 49 for invests.).

For all recommendations report, click here

Disclaimer: 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 Industries - 01 -01-2023 - ic