Exide Inds.
Exide Industries Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
The short version
Focus on efficiently running the 6-gigawatt hour lithium-ion plant with potential Phase 2 expansion (up to 12 GWh) based on faster market adoption, especially in stationary Battery Energy Storage Systems (BESS). Management expects margins to rebound to around 12%-13% EBITDA despite high lead and forex costs.
From Exide Inds.'s Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Focus on efficiently running the 6-gigawatt hour lithium-ion plant with potential Phase 2 expansion (up to 12 GWh) based on faster market adoption, especially in stationary Battery Energy Storage Systems (BESS).
- Automotive aftermarket replacement demand is strong, with 10-12% growth in 4-wheeler and 2-wheeler segments in H1; OEM segment expected to see robust growth in H2 FY26.
- Solar business aims to grow from INR 800 crores to INR 1,500 crores in 2-3 years, supported by government incentives like PM Surya Ghar Yojana and GST rate cuts from 12% to 5% on solar combo packs.
- Export business expected to rebound from Q4 onwards with diversification into new geographies and portfolios.
2 more points from Exide Inds.'s call on revenue
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Profitability & Margins
See what Exide Inds. said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Exide has completed Phase 1 investment for a 6-gigawatt hour lithium-ion plant; purchased land for 12-gigawatt hour capacity, enabling quick Phase 2 ramp-up at much lesser cost.
- Phase 2 investment (towards 12 GW capacity) will be lower than Phase 1, with decisions pending based on market adoption, especially stationary BESS demand.
- The company is focusing on efficiently running the 6 GW plant before further expansion.
- Investments are ongoing in manufacturing technology upgrades for lead-acid batteries, such as shifting motorcycle capacity to Punched Grid technology (full transition expected by December calendar year).
2 more points from Exide Inds.'s call on capex
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Fundraising & Capital Structure
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Order Book & Pipeline
- The lithium-ion plant currently has a Phase 1 capacity of 6 gigawatt hours, with installed equipment and shed for this capacity.
- The company purchased land for up to 12 gigawatt hours, indicating room for rapid expansion at a lower incremental cost for Phase 2.
- Orders for the battery plant are ramping up, with utilization expected around 25-30% initially, increasing as more production lines start.
- Customer engagements include at least two large 2-wheeler OEMs and Hyundai (under MOU) for lithium-ion cells, indicating strong commercial interest.
2 more points from Exide Inds.'s call on order book
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Exide Inds. — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹4.7K Cr, net profit ₹217 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Exide Industries Ltd's management said in earlier quarters
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Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Exide Inds. Q2 FY26 results?
Focus on efficiently running the 6-gigawatt hour lithium-ion plant with potential Phase 2 expansion (up to 12 GWh) based on faster market adoption, especially in stationary Battery Energy Storage Systems (BESS). Management expects margins to rebound to around 12%-13% EBITDA despite high lead and forex costs.
What is Exide Inds. share price analysis?
Exide Inds. currently shows a neutral. The stock trades at a P/E of 33.6 with a market cap of ₹31,531 Cr. Investors should review the full earnings analysis for detailed insights.
Is Exide Inds. planning capital expenditure?
Exide has completed Phase 1 investment for a 6-gigawatt hour lithium-ion plant; purchased land for 12-gigawatt hour capacity, enabling quick Phase 2 ramp-up at much lesser cost.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.