Saturday, October 30, 2021

Exide Industries Q2 PAT down -23.62% yoy | Stock Outlook

     


Exide Industries Q2 PAT down -23.62% yoy at Rs196r as a 40% spike in raw material costs eats into profits

Exide Industries Ltd reported 18.62% growth in total revenues for the Sep-21 quarter on consolidated basis at Rs4,758cr


Exide Industries Ltd reported 18.62% growth in total revenues for the Sep-21 quarter on consolidated basis at Rs4,758cr. The revenues were higher by 33.68% on a sequential basis compared to Rs3,559cr revenues in the Jun-21 quarter.


Revenues from the storage batteries and allied product showed the sharpest growth of 19% at Rs3,384cr. The insurance business, which is now being sold to HDFC, saw revenues grow by 17% at Rs1,369cr. The top line growth in the quarter was driven almost equally by both the core verticals of Exide.


The consolidated Profit after tax (PAT) for the Sep-21 quarter was down -23.62% at Rs196cr. Profits were up 6-fold compared to the profits in the sequential quarter. In terms of yoy growth, the EBIT of the storage batteries vertical grew by 6% at Rs317cr.


This could have been much better had it not been for the 40% spike in raw material costs. Insurance made an EBIT loss on higher COVID related claims and provisions. Net margins at 4.13% was lower than 6.41% on a yoy basis and it was sharply better than NPM of 0.92% in Jun-21 quarter.


Stock Outlook

162 is support zone for stock in short term and will remain sideways in long as well as short term. Avoid will be better.



Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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