NSEI:EXIDEIND

Stock Analysis Report

Executive Summary

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

Rewards

Trading at 60.1% below its fair value

Earnings grew by 11.1% over the past year

Pays a reliable dividend of 1.23%

Risk Analysis

No risks detected for EXIDEIND from our risk checks.


Snowflake Analysis

Excellent balance sheet with solid 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

Stable Share Price: EXIDEIND has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.4%

EXIDEIND

0.8%

IN Auto Components

-0.5%

IN Market


1 Year Return

-13.4%

EXIDEIND

-4.2%

IN Auto Components

9.6%

IN Market

Return vs Industry: EXIDEIND underperformed the Indian Auto Components industry which returned -10.7% over the past year.

Return vs Market: EXIDEIND underperformed the Indian Market which returned 6.7% over the past year.


Shareholder returns

EXIDEINDIndustryMarket
7 Day1.4%0.8%-0.5%
30 Day12.9%7.4%2.9%
90 Day12.9%14.6%6.2%
1 Year-12.3%-13.4%-3.2%-4.2%11.6%9.6%
3 Year4.5%1.1%4.4%2.0%29.8%22.9%
5 Year14.0%7.1%16.0%11.7%36.7%24.4%

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?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EXIDEIND (₹195.1) is trading below our estimate of fair value (₹489.32)

Significantly Below Fair Value: EXIDEIND is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: EXIDEIND is poor value based on its PE Ratio (19.3x) compared to the Auto Components industry average (16.7x).

PE vs Market: EXIDEIND is poor value based on its PE Ratio (19.3x) compared to the Indian market (13.8x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate EXIDEIND's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: EXIDEIND is overvalued based on its PB Ratio (2.5x) compared to the IN Auto Components industry average (1.5x).


Next Steps

Future Growth

How is Exide Industries forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

19.1%

Forecasted Automobiles industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Exide Industries has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Exide Industries performed over the past 5 years?

6.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EXIDEIND has high quality earnings.

Growing Profit Margin: EXIDEIND's current net profit margins (5.7%) are higher than last year (5.6%).


Past Earnings Growth Analysis

Earnings Trend: EXIDEIND's earnings have grown by 6% per year over the past 5 years.

Accelerating Growth: EXIDEIND's earnings growth over the past year (11.1%) exceeds its 5-year average (6% per year).

Earnings vs Industry: EXIDEIND earnings growth over the past year (11.1%) exceeded the Auto Components industry -14.7%.


Return on Equity

High ROE: EXIDEIND's Return on Equity (13%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Exide Industries's financial position?


Financial Position Analysis

Short Term Liabilities: EXIDEIND's short term assets (₹57.2B) exceed its short term liabilities (₹35.2B).

Long Term Liabilities: EXIDEIND's short term assets (₹57.2B) do not cover its long term liabilities (₹137.3B).


Debt to Equity History and Analysis

Debt Level: EXIDEIND's debt to equity ratio (0.9%) is considered satisfactory.

Reducing Debt: EXIDEIND's debt to equity ratio has reduced from 1.3% to 0.9% over the past 5 years.

Debt Coverage: EXIDEIND's debt is well covered by operating cash flow (3722.3%).

Interest Coverage: EXIDEIND's interest payments on its debt are well covered by EBIT (32.4x coverage).


Balance Sheet

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

Debt Coverage by Assets: EXIDEIND's debt is covered by short term assets (assets are 102.5x debt).


Next Steps

Dividend

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

1.17%

Current Dividend Yield


Dividend Yield vs Market

company1.2%marketbottom25%0.5%markettop25%2.3%industryaverage0.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: EXIDEIND's dividend (1.24%) is higher than the bottom 25% of dividend payers in the Indian market (0.56%).

High Dividend: EXIDEIND's dividend (1.24%) is low compared to the top 25% of dividend payers in the Indian market (2.31%).


Stability and Growth of Payments

Stable Dividend: EXIDEIND's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (23.9%), EXIDEIND's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

1.5yrs

Average management tenure


CEO

Gautam Chatterjee (69yo)

3.7yrs

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: Gautam's total compensation ($USD645.01K) is about average for companies of similar size in the Indian market ($USD641.04K).

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


Management Age and Tenure

1.5yrs

Average Tenure

60yo

Average Age

Experienced Management: EXIDEIND's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Age and Tenure

5.5yrs

Average Tenure

66yo

Average Age

Experienced Board: EXIDEIND's board of directors are considered experienced (5.5 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

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Gautam Chatterjee (69yo)

    CEO, MD & Executive Director

    • Tenure: 3.7yrs
    • Compensation: ₹45.71m
  • S. Mookherjee

    MD & Director of Caldyne Automatics Ltd (Caldyne)

    • Asish Mukherjee (58yo)

      Director of Finance

      • Tenure: 12.7yrs
      • Compensation: ₹26.17m
    • Subir Chakraborty (62yo)

      Deputy MD & Wholetime Director

      • Tenure: 6.7yrs
      • Compensation: ₹17.89m
    • Jitendra Kumar

      Executive VP of Legal & Admin

      • Tenure: 1.5yrs
      • Compensation: ₹7.99m
    • Arun Mittal (53yo)

      Director of Automotive & Whole-Time Director

      • Tenure: 3.7yrs
      • Compensation: ₹14.59m
    • Arnab Saha

      President of New Business

      • Tenure: 1yrs
    • Ranjan Sarkar

      Executive Vice President of HR

      • Tenure: 2yrs
    • Nupur Choudhury

      President of Finance & Strategy

      • Tenure: 2yrs
    • Amit Banerjee

      General Manager of Operations


      Board Members

      • Gautam Chatterjee (69yo)

        CEO, MD & Executive Director

        • Tenure: 3.7yrs
        • Compensation: ₹45.71m
      • Sudhir Chand (72yo)

        Independent Non-Executive Director

        • Tenure: 7.3yrs
        • Compensation: ₹2.10m
      • S. Mookherjee

        MD & Director of Caldyne Automatics Ltd (Caldyne)

        • Rajan Raheja (66yo)

          Non-Executive Vice Chairman

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

          Director of Finance

          • Tenure: 12.7yrs
          • Compensation: ₹26.17m
        • Subir Chakraborty (62yo)

          Deputy MD & Wholetime Director

          • Tenure: 6.7yrs
          • Compensation: ₹17.89m
        • Bharat Shah (72yo)

          Independent Chairman

          • Tenure: 3.5yrs
          • Compensation: ₹4.38m
        • Nawshir Mirza (69yo)

          Independent Non-Executive Director

          • Tenure: 4.3yrs
          • Compensation: ₹4.68m
        • Arun Mittal (53yo)

          Director of Automotive & Whole-Time Director

          • Tenure: 3.7yrs
          • Compensation: ₹14.59m
        • Surin Kapadia (39yo)

          Independent Director

          • Tenure: 2.3yrs
          • 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: EXIDEIND
        • Exchange: NSEI
        • Founded: 1916
        • Industry: Auto Parts and Equipment
        • Sector: Automobiles
        • Market Cap: ₹169.363b
        • 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, CHLORIDE, and CEIL brand names. The company provides life insurance products through individual agents, corporate agents, banks, etc.; manufactures and supplies recycled lead and lead alloys; manufactures and sells battery chargers, D.C power systems, solar installations, and associated equipment; and produces and distributes industrial battery chargers, rectifiers, and parts. The company sells its batteries through a distribution network of direct and indirect dealers. Its products are used in automotive, power, telecommunication, solar, and computer industries; infrastructural projects; and railway, mining, and defense sectors. The company was formerly known as Chloride Industries Ltd. and changed its name to Exide Industries Limited in August 1995. Exide Industries Limited was founded in 1916 and is headquartered in Kolkata, India. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/24 12:56
        End of Day Share Price2020/01/23 00:00
        Earnings2019/09/30
        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.