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Exide Industries Limited Q2 FY26 earnings call summary

NSE: EXIDEIND · BSE: 500086

Earnings call of 17 Nov 2025, summarised by AI from the filing.

Exide Q2 FY26 revenue declined 2.1% on GST-led destocking; management expects 12-13% margins in coming quarters.

Key takeaways

  1. Q2 result Q2 FY26 revenue declined 2.1% year-on-year, with H1 growth at 1.3%.
  2. Margin guidance Management expects 12% to 13% EBITDA margins in coming quarters, if lead remains at current level and top line growth returns.
  3. Production cuts Production cuts in August and September due to destocking after GST rate cut announcement.
  4. Solar growth Solar business plans to cross ₹1,000 cr this year, driven by PM Surya Ghar and GST cut.
  5. Export risk Tariff uncertainties heavily impacted export business for second consecutive quarter.

Original filing on BSE

Exide Industries Limited Q1 FY27 results

As filed: Revenue ₹5,528 cr (+18% year on year), EBITDA ₹621 cr (+16% year on year), PAT ₹351 cr (+28% year on year), EBITDA margin 11.2% (−22 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹4,735 cr (+9% year on year), EBITDA ₹489 cr (+14% year on year), PAT ₹217 cr (+15% year on year), EBITDA margin 10.3% (+44 bps). Score 71 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA and profit growth were above it. EBITDA margin rose 44 bps year on year. Share price after the results: +10.7% in 30 days (Nifty 500: −1.0%).
  • Q3 FY26: Revenue ₹4,201 cr (+5% year on year), EBITDA ₹452 cr (+7% year on year), PAT ₹195 cr (+23% year on year), EBITDA margin 10.8% (+21 bps). Score 61 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA growth was above it; profit growth was well above it. EBITDA margin rose 21 bps year on year. Revenue fell 4% from last quarter. Share price after the results: +5.8% in 28 days (Nifty 500: +0.1%).
  • Q2 FY26: Revenue ₹4,365 cr (−2% year on year), EBITDA ₹391 cr (−17% year on year), PAT ₹174 cr (−25% year on year), EBITDA margin 9.0% (−167 bps). Score 14 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 167 bps year on year. Revenue fell 7% from last quarter. Share price after the results: −1.9% in 28 days (Nifty 500: −0.5%).
  • Q1 FY26: Revenue ₹4,695 cr (+6% year on year), EBITDA ₹538 cr (+14% year on year), PAT ₹275 cr (+24% year on year), EBITDA margin 11.5% (+77 bps). Score 69 of 100, Above trend. Revenue growth was in line with the company's own trend; EBITDA growth was above it; profit growth was well above it. EBITDA margin rose 77 bps year on year. Share price after the results: +3.8% in 30 days (Nifty 500: −0.2%).
  • Q4 FY25: Revenue ₹4,335 cr (+4% year on year), EBITDA ₹428 cr (−4% year on year), PAT ₹188 cr (+1% year on year), EBITDA margin 9.9% (−86 bps). Score 38 of 100, Below trend. Revenue growth was below the company's own trend; EBITDA growth was well below it; profit growth was in line with it. EBITDA margin fell 86 bps year on year. Share price after the results: +4.6% in 30 days (Nifty 500: +3.1%).
  • Q3 FY25: Revenue ₹4,017 cr (+1% year on year), EBITDA ₹424 cr (−2% year on year), PAT ₹158 cr (−22% year on year), EBITDA margin 10.6% (−32 bps). Score 23 of 100, Below trend. Revenue and profit growth were well below the company's own trend; EBITDA growth was below it. EBITDA margin fell 32 bps year on year. Revenue fell 10% from last quarter.
  • Q2 FY25: Revenue ₹4,450 cr (+2% year on year), EBITDA ₹473 cr (−5% year on year), PAT ₹233 cr (−14% year on year), EBITDA margin 10.6% (−78 bps). Score 27 of 100, Below trend. EBITDA margin fell 78 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Exide Industries Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.