BSE:500086

Stock Analysis Report

Executive Summary

Exide Industries Limited designs, manufactures, markets, and sells lead acid storage batteries and allied products in India and internationally.

Snowflake

Fundamentals

Adequate balance sheet with proven track record and pays a dividend.


Similar Companies

Share Price & News

How has Exide Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.2%

500086

5.9%

IN Auto Components

3.9%

IN Market


1 Year Return

-28.1%

500086

-22.7%

IN Auto Components

6.0%

IN Market

Return vs Industry: 500086 underperformed the Indian Auto Components industry which returned -22.7% over the past year.

Return vs Market: 500086 underperformed the Indian Market which returned 6% over the past year.


Shareholder returns

500086IndustryMarket
7 Day-0.2%5.9%3.9%
30 Day8.1%7.0%7.8%
90 Day-2.9%0.6%2.5%
1 Year-27.3%-28.1%-21.9%-22.7%8.2%6.0%
3 Year-7.3%-10.3%-10.5%-12.7%23.0%16.7%
5 Year21.0%14.7%28.4%23.6%43.5%30.0%

Price Volatility Vs. Market

How volatile is Exide Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Exide Industries undervalued compared to its fair value and its price relative to the market?

19x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: 500086 (₹182.85) is trading above our estimate of fair value (₹78.92)

Significantly Undervalued: 500086 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 500086 is poor value based on its PE Ratio (19x) compared to the Auto Components industry average (12.9x).

PE vs Market: 500086 is poor value based on its PE Ratio (19x) compared to the Indian market (13.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: 500086 is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: 500086 is overvalued based on its PB Ratio (2.5x) compared to the IN Auto Components industry average (1.3x).


Next Steps

Future Growth

How is Exide Industries forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?

11.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 500086's forecast earnings growth (11.5% per year) is above the savings rate (7.6%).

Earnings vs Market: 500086's earnings (11.5% per year) are forecast to grow slower than the Indian market (18.2% per year).

High Growth Earnings: 500086's earnings are forecast to grow, but not significantly.

Revenue vs Market: 500086's revenue (6.5% per year) is forecast to grow slower than the Indian market (11.3% per year).

High Growth Revenue: 500086's revenue (6.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: 500086's Return on Equity is forecast to be low in 3 years time (14.5%).


Next Steps

Past Performance

How has Exide Industries performed over the past 5 years?

5.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 500086's earnings have grown by 5.9% per year over the past 5 years.

Accelerating Growth: 500086's earnings growth over the past year (12.3%) exceeds its 5-year average (5.9% per year).

Earnings vs Industry: 500086 earnings growth over the past year (12.3%) exceeded the Auto Components industry -4.6%.


Return on Equity

High ROE: 500086's Return on Equity (13.4%) is considered low.


Return on Assets

ROA vs Industry: 500086's Return on Assets is below or equal to the Auto Components industry average last year.


Return on Capital Employed

ROCE Improving: 500086 has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Exide Industries's financial position?


Financial Position Analysis

Short Term Liabilities: 500086's short term assets (₹54.6B) exceeds its short term liabilities (₹33.8B)

Long Term Liabilities: 500086's short term assets (54.6B) do not cover its long term liabilities (129.3B)


Debt to Equity History and Analysis

Debt Level: 500086's debt to equity ratio (1.5%) is considered satisfactory

Reducing Debt: 500086's debt to equity ratio has increased from 1.1% to 1.5% over the past 5 years.

Debt Coverage: 500086's debt is well covered by operating cash flow (1894.6%).

Interest Coverage: 500086's interest payments on its debt are well covered by EBIT (30.7x coverage).


Balance Sheet

Inventory Level: 500086 has a high level of physical assets or inventory.

Debt Coverage by Assets: 500086's debt is covered by short term assets (assets are 61.332920x debt).


Next Steps

Dividend

What is Exide Industries's current dividend yield, its reliability and sustainability?

1.31%

Current Dividend Yield


Dividend Yield vs Market

company1.3%marketbottom25%0.6%markettop25%2.4%industryaverage1.0%forecastin3Years1.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 500086's dividend (1.31%) is higher than the bottom 25% of dividend payers in the Indian market (0.6%).

High Dividend: 500086's dividend (1.31%) is low compared to the top 25% of dividend payers in the Indian market (2.42%).

Stable Dividend: 500086's dividend payments have been volatile in the past 10 years.

Growing Dividend: 500086's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.9%), 500086's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 500086's dividends in 3 years are forecast to be well covered by earnings (28.3% payout ratio).


Next Steps

Management

What is the CEO of Exide Industries's salary, the management and board of directors tenure and is there insider trading?

1.3yrs

Average management tenure


CEO

Gautam Chatterjee (69yo)

3.4yrs

Tenure

₹45,707,678

Compensation

Mr. Gautam Chatterjee has been the Chief Executive Officer and Managing Director of Exide Industries Limited since May 1 , 2016. Mr. Chatterjee has been an Executive Director of Exide Industries Limited si ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Gautam's total compensation is reasonable compared to companies of similar size in the Indian market.

Compensation vs Earnings: Gautam's compensation has been consistent with company performance over the past year.


Management Age and Tenure

1.3yrs

Average Tenure

60yo

Average Age

Experienced Management: 500086's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Age and Tenure

5.2yrs

Average Tenure

66yo

Average Age

Experienced Board: 500086's board of directors are considered experienced (5.2 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Gautam Chatterjee (69yo)

    CEO, MD & Executive Director

    • Tenure: 3.4yrs
    • Compensation: ₹45.71m
  • S. Mookherjee

    MD & Director of Caldyne Automatics Ltd (Caldyne)

    • Tenure: 0yrs
  • Asish Mukherjee (58yo)

    Director of Finance

    • Tenure: 12.4yrs
    • Compensation: ₹26.17m
  • Subir Chakraborty (62yo)

    Deputy MD & Wholetime Director

    • Tenure: 6.4yrs
    • Compensation: ₹17.89m
  • Jitendra Kumar

    Executive VP of Legal & Admin

    • Tenure: 1.3yrs
    • Compensation: ₹7.99m
  • Arun Mittal (53yo)

    Director of Automotive & Whole-Time Director

    • Tenure: 3.4yrs
    • Compensation: ₹14.59m
  • Arnab Saha

    President of New Business

    • Tenure: 0.8yrs
  • Ranjan Sarkar

    Executive Vice President of HR

    • Tenure: 1.8yrs
  • Nupur Choudhury

    President of Finance & Strategy

    • Tenure: 1.8yrs
  • Amit Banerjee

    General Manager of Operations

    • Tenure: 0yrs

Board Members

  • Gautam Chatterjee (69yo)

    CEO, MD & Executive Director

    • Tenure: 3.4yrs
    • Compensation: ₹45.71m
  • Sudhir Chand (72yo)

    Independent Non-Executive Director

    • Tenure: 7yrs
    • Compensation: ₹2.10m
  • S. Mookherjee

    MD & Director of Caldyne Automatics Ltd (Caldyne)

    • Tenure: 0yrs
  • Rajan Raheja (66yo)

    Non-Executive Vice Chairman

    • Tenure: 0yrs
    • Compensation: ₹225.00k
  • Asish Mukherjee (58yo)

    Director of Finance

    • Tenure: 12.4yrs
    • Compensation: ₹26.17m
  • Subir Chakraborty (62yo)

    Deputy MD & Wholetime Director

    • Tenure: 6.4yrs
    • Compensation: ₹17.89m
  • Bharat Shah (72yo)

    Independent Chairman

    • Tenure: 3.3yrs
    • Compensation: ₹4.38m
  • Nawshir Mirza (69yo)

    Independent Non-Executive Director

    • Tenure: 4yrs
    • Compensation: ₹4.68m
  • Arun Mittal (53yo)

    Director of Automotive & Whole-Time Director

    • Tenure: 3.4yrs
    • Compensation: ₹14.59m
  • Surin Kapadia (39yo)

    Independent Director

    • Tenure: 2yrs
    • Compensation: ₹2.18m

Company Information

Exide Industries Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Exide Industries Limited
  • Ticker: 500086
  • Exchange: BSE
  • Founded: 1916
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: ₹155.423b
  • Shares outstanding: 850.00m
  • Website: https://www.exideindustries.com

Number of Employees


Location

  • Exide Industries Limited
  • Exide House
  • 59E Chowringhee Road
  • Kolkata
  • West Bengal
  • 700020
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
500086BSE (Mumbai Stock Exchange)YesEquity SharesININRMar 1999
EXIDEINDNSEI (National Stock Exchange of India)YesEquity SharesININRMar 1999

Biography

Exide Industries Limited designs, manufactures, markets, and sells lead acid storage batteries and allied products in India and internationally. It offers batteries under the EXIDE, INDEX, DYNEX, SF SONIC, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 12:43
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.