Sharekhan's research report on Exide Industries
Reported PAT at Rs 287 cr in Q2FY24 against an of estimated Rs 289 cr. Management guided for an EBITDA margin range of 14.5% -15% in the medium term. The stock trades at P/E multiple of 14.3x and EV/EBITDA multiple of 5.7x its FY2026E estimates.
Outlook
We maintain our Buy rating on the Exide with an SOTP-based PT of Rs 327 in expectation of sustainable recovery in replacement demand, healthy traction in OEM business and timely execution of its LI ion project.
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Exide Industries - 09 - 10-2023 - khan
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