Exide Industries Q2 profit rises 75% to Rs 386.45 crore

Exide Industries Limited reported standalone net profit of Rs 386.45 crore for the three months ended 30 September 2026, up 75% from Rs 220.74 crore a year earlier, as revenue from operations rose 20% to Rs 5,026.14 crore. Profit before tax increased to Rs 522.32 crore from Rs 297.58 crore.

What were Exide Industries' standalone Q2 earnings?

Exide Industries' standalone profit after tax increased by Rs 165.71 crore year on year to Rs 386.45 crore in the three months ended 30 September 2026. Revenue from operations rose by Rs 847.85 crore to Rs 5,026.14 crore, while total income, including Rs 42.44 crore of other income, reached Rs 5,068.58 crore.

Profit before tax rose 76% to Rs 522.32 crore from Rs 297.58 crore in the September 2025 quarter. Total expenses increased to Rs 4,546.26 crore from Rs 3,923.14 crore, while basic and diluted earnings per share rose to Rs 4.55 from Rs 2.60.

The reported income increase of Rs 847.86 crore exceeded the Rs 623.12 crore rise in total expenses between the two September quarters. Revenue from operations is reported net of trade discounts and trade incentives, meaning the Rs 5,026.14 crore figure reflects those deductions.

How did Exide Industries compare with the June quarter and first half?

Exide Industries' revenue from operations declined sequentially by Rs 278.91 crore from Rs 5,305.05 crore in the three months ended 30 June 2026 to Rs 5,026.14 crore in the September quarter. Net profit also declined by Rs 20.81 crore from Rs 407.26 crore, while earnings per share fell from Rs 4.79 to Rs 4.55.

Total income was Rs 5,068.58 crore in the September quarter, compared with Rs 5,319.09 crore in the June quarter. Profit before tax was Rs 522.32 crore in September, below Rs 543.32 crore in June, so the year-on-year increase was accompanied by a lower sequential result.

For the six months ended 30 September 2026, Exide Industries reported revenue from operations of Rs 10,331.19 crore, compared with Rs 8,688.10 crore in the six months ended 30 September 2025. First-half net profit was Rs 793.71 crore, calculated from the reported June-quarter profit of Rs 407.26 crore and September-quarter profit of Rs 386.45 crore, against Rs 541.19 crore in the prior-year half.

Exide Industries reports one operating segment, Storage Batteries and Allied Product, rather than separate financial data by battery category, customer group or geography. The filing therefore does not identify which products or markets accounted for the Rs 1,643.09 crore first-half increase in revenue from operations.

What do Exide Industries' cash flow and balance sheet show?

Exide Industries generated net cash from operating activities of Rs 695.56 crore in the six months ended 30 September 2026, down from Rs 1,172.36 crore in the corresponding 2025 period. Cash generated from operations before direct taxes was Rs 906.57 crore, compared with Rs 1,361.68 crore a year earlier, and direct taxes paid increased to Rs 211.01 crore from Rs 189.37 crore.

The cash-flow statement records a Rs 315.32 crore decrease in trade payables, other liabilities and provisions during the 2026 half, compared with a Rs 224.74 crore decrease in the prior-year period. It also records a Rs 15.87 crore increase in inventories, whereas inventories had decreased by Rs 514.03 crore in the six months ended 30 September 2025.

Investing activities used Rs 615.38 crore in the first half, compared with Rs 1,040.02 crore a year earlier. The reported uses included Rs 400.00 crore of investments in subsidiaries, Rs 120.48 crore spent on property, plant and equipment including intangible assets, and Rs 1,275.00 crore of purchases of investments in shares and mutual funds.

At 30 September 2026, total assets were Rs 19,106.91 crore, compared with Rs 19,156.64 crore at 31 March 2026. Total equity was Rs 14,774.83 crore, up from Rs 14,673.58 crore, while cash and cash equivalents fell to Rs 51.62 crore from Rs 164.61 crore at the start of the financial year after a net cash decrease of Rs 112.99 crore.

Did Exide Industries disclose EBITDA, guidance or exceptional items?

Exide Industries did not separately disclose earnings before interest, tax, depreciation and amortisation, or EBITDA, and did not report an EBITDA margin for the September 2026 standalone quarter. The statement reports Rs 5,026.14 crore of revenue from operations, Rs 522.32 crore of profit before tax and Rs 386.45 crore of profit after tax, but no EBITDA line item.

Exide Industries also gave no forward target for revenue, profit, volumes, pricing or margin in the supplied filing dated 4 November 2026. The board approved the unaudited results after audit committee review, and B S R & Co. LLP said its limited review found nothing that caused it to believe the standalone statement omitted required information or contained a material misstatement.

The notes refer to four labour codes notified by the Government of India on 21 November 2025. Exide Industries said it assessed and disclosed their incremental impact as an exceptional item in the standalone profit and loss statement for the year ended 31 March 2026; the September 2026 quarterly statement does not show an exceptional item amount.

The board also approved a proposal to change the registrar and share transfer agent from MUFG Intime India Private Limited to Maheshwari Datamatics Private Limited. MUFG will continue providing services until documentation, data transition, a no-objection certificate and connectivity changes involving National Securities Depository Limited and Central Depository Services (India) Limited are completed.

Conclusion

Exide Industries' standalone September 2026 results show that revenue from operations increased 20% year on year to Rs 5,026.14 crore and net profit increased 75% to Rs 386.45 crore. The first-half revenue increase to Rs 10,331.19 crore and net profit of Rs 793.71 crore contrast with lower operating cash flow of Rs 695.56 crore versus Rs 1,172.36 crore a year earlier.

The next disclosed event to watch is the effective date of the registrar and share transfer agent transition to Maheshwari Datamatics, which Exide Industries will announce after the required approvals and connectivity changes. Subsequent results will also show whether the sequential decline from Rs 5,305.05 crore of June-quarter revenue continues, as the filing provides no management outlook or segment-level breakdown beyond Storage Batteries and Allied Product.