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Exide Industries Q2 Results: Volume recovery, pricing strategies aid revenue growth

Exide Industries Q2 Results: Volume recovery, pricing strategies aid revenue growth

Exide Industries Q2 Results: Volume recovery, pricing strategies aid revenue growth
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By CNBCTV18.com Nov 11, 2022 6:05:39 PM IST (Published)

Exide reported a year-on-year drop in EBITDA margin while the recovered compared to the June quarter.

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Exide Industries reported a 13 percent growth in standalone sales for the September quarter led by an uptick in volumes and pricing strategies of the company.


The company's net profit rose 5 percent from last year to Rs 246 crore.

Exide's EBITDA or operating profit was flat but margin contracted 150 basis points from last year to 11.1 percent, despite lower finance costs. Total expenses for the period increased 15 percent and the company mentioned that higher input costs hurt margins year-on-year.

However, when compared to the June quarter, the margin has expanded by 120 basis points due to easing raw material prices and various cost optimisation strategies to lower fixed costs.

The management is confident of demand to remain buoyant for the medium term and that the lowering of input costs will continue to aid margin recovery.
Volume growth was driven by upbeat demand both in the replacement market as well as the OEMs. Demand situation from OEMs improved due to better availability of semiconductors.
Exide's industrial business also witnessed a recovery from last year due to a pick-up in business activity.

Despite the optimism from the management, shares of Exide ended 2.7 percent lower at Rs 171.4.

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