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Corporate Actions
Exide Industries Q4 FY2024 Results: Net profit up by 36.50%
Tanushree Jaiswal
2nd May 2024 - 09:27 am
Key Highlights
- Exide Industries’ revenue from operations for Q4 FY2024 increased by 13.2% on a YOY basis.
- Net profit was marked at ₹284 cr for FY2024 up by 36.50% on a YOY basis.
- EBITDA for Q4 FY2024 stood at ₹516.40 cr.
Business Highlights
- Exide Indtrieuss reported a net profit for Q4 FY2024 at ₹284 cr from ₹208 cr in Q4 FY2023, up by 36.5%.
- Its revenue from operations Q4 FY2024 was Rs 4,009.4 cr against ₹3,543 cr in Q4 FY2023, up by 13.2%.
- Total revenue for FY 2024 was ₹16113.73 against ₹14724.35 in FY 2023, up by 9.43%.
- PAT from FY 2024 increased by 16.52% reaching ₹1052.96 in FY 2024 from ₹903.63 in FY 2023.
- EBITDA was up by 41% on a YOY basis for Q4 FY 2024.
- The company declared a ₹2 dividend per equity share.
Commenting on the results, Mr. Subir Chakraborty, MD & CEO, Exide Industries, said, 'We had one of the best quarterly performances, with sales and operating profits growing by 13% and 41%, respectively. Demand scenario was upbeat, and our diversified and technologically advanced product offerings helped us capture the opportunities across end customer markets. EBITDA margin increased to 12.9% during the quarter from 10.4% in the same quarter last year. For the full financial year, our performance was commendable with sales and operating profits growing by 10% and 19%, respectively. Outlook is positive both for the Automotive and Industrial verticals and we aim to deliver healthy sales growth and increase in profitability in near-tomedium term. Our lithium-ion cell manufacturing project is progressing well and is expected to be commissioned within defined timelines. We are positive about the future and are very well positioned to capitalize on opportunities both in the lead-acid as well as in the lithium-ion battery space.'
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