Any current/future new fundraising through debt or equity?

The company plans to fund its lithium-ion cell manufacturing plant largely through internal accruals and equity infusion from Exide. For any bridge financing needs, they will consider borrowing from banks or other financial institutions. There is no current plan to monetize their investment in HDFC Life for funding purposes; internal accruals will primarily support capex. The core lead-acid battery business capex will continue with approximately INR 400-500 crores annually, funded internally. No specific mention of new equity or debt fundraising rounds at this time; focus remains on using inte

Any current/future capex/capital investment/strategic investment?

Exide is setting up a multi-gigawatt lithium-ion cell manufacturing facility in Bangalore on ~80 acres. The plant will have two phases: Phase I with 6 GWh capacity, Phase II with another 6 GWh, totaling 12 GWh. Total capex for the plant is estimated at around INR 6,000 crores (~INR 4,000 crores for Phase I, INR 2,000 crores for Phase II). Bhumi Pujan has been done; construction has started, with necessary approvals underway. Senior management hiring for the project is nearly complete. Start of production (SOP) for Phase I expected in late FY 2024-25, with stabilization in FY 2025-26. Funding w

Future growth expectations in sales/revenue/volumes?

Robust demand across all segments with 32% growth in sales and PBT in recent periods (Page 7). Double-digit growth in both volume and value overall, though not uniform across all segments (Pages 7-8). Increasing market share in vehicular segments like two-wheelers and four-wheelers (Page 9). Strong growth in export markets; presence in 60 countries with rapid growth opportunities (Page 14). EV auxiliary lead-acid batteries segment showing inquiries and production; expected to grow (Page14). Lithium-ion plant expected to ramp up production from 2025-26, contributing to future growth (Page 16).

Future growth expectations in earnings/operating earnings/profits/EPS?

Exide Industries reported a healthy 32% growth in sales and profit before tax in H1 FY23, signaling strong demand across automotive and industrial segments. The company expects sequential margin recovery supported by some respite in input costs, though raw material prices remain volatile. Lead-acid battery business margins are anticipated to normalize within 3-6 months once raw material prices stabilize, returning to earlier ~14% levels. Lithium-ion cell manufacturing plant is expected to start production in late FY24-25, with full capacity ramp-up and stabilization by FY25-26, supporting futu

Current/ Expected Orderbook/ Pending Orders?

The transcript does not explicitly mention the current or expected order book or pending orders in precise figures. There is a strong demand scenario mentioned with robust orders in automotive replacement and industrial segments. The company reports upbeat demand and good order inflow driven by recovery in OEMs and increased capex in public and private sectors. For the lithium-ion segment, there is significant interest from OEMs and other customers, with RFQs already started. Exide is well poised to service growing requirements, leveraging customer connect from its 75 years in the market. The

Exide Industries LtdQ2 FY23Auto Components

Exide Industries Ltd Q2 FY23 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹344.6P/E: 31.2Market Cap: ₹29.3K CrSector: Auto Components

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

Robust demand across all segments with 32% growth in sales and PBT in recent periods (Page 7).
Double-digit growth in both volume and value overall, though not uniform across all segments (Pages 7-8).
Increasing market share in vehicular segments like two-wheelers and four-wheelers (Page 9).
Strong growth in export markets; presence in 60 countries with rapid growth opportunities (Page 14).
EV auxiliary lead-acid batteries segment showing inquiries and production; expected to grow (Page14).
Lithium-ion plant expected to ramp up production from 2025-26, contributing to future growth (Page 16).
Continued investments in R&D and manufacturing capabilities with a modern, state-of-the-art plant under construction (Page 15-16).
Expansion focused on brownfield capacity enhancements, no immediate greenfield plants planned (Page 7).
Expectation of stable or improving margins once raw material prices stabilize, supporting profitability (Page 6, 9).

Margin guidance

Category 3

Exide Industries reported a healthy 32% growth in sales and profit before tax in H1 FY23, signaling strong demand across automotive and industrial segments.
The company expects sequential margin recovery supported by some respite in input costs, though raw material prices remain volatile.
Lead-acid battery business margins are anticipated to normalize within 3-6 months once raw material prices stabilize, returning to earlier ~14% levels.
Lithium-ion cell manufacturing plant is expected to start production in late FY24-25, with full capacity ramp-up and stabilization by FY25-26, supporting future revenue and profitability growth.
Expansion in lithium-ion and battery pack business, targeting multiple vehicle segments and stationary applications, is planned with capex around INR 6,000 crores across phases.
Digitalization and cost optimization initiatives are expected to lower fixed costs and improve operating efficiency.
Overall, the outlook is optimistic with robust demand and strategic investments driving growth and margin improvement.

See what Exide Industries Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

The company plans to fund its lithium-ion cell manufacturing plant largely through internal accruals and equity infusion from Exide.
For any bridge financing needs, they will consider borrowing from banks or other financial institutions.
There is no current plan to monetize their investment in HDFC Life for funding purposes; internal accruals will primarily support capex.
The core lead-acid battery business capex will continue with approximately INR 400-500 crores annually, funded internally.
No specific mention of new equity or debt fundraising rounds at this time; focus remains on using internal resources and conventional bank borrowing if needed.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders in precise figures.
There is a strong demand scenario mentioned with robust orders in automotive replacement and industrial segments.
The company reports upbeat demand and good order inflow driven by recovery in OEMs and increased capex in public and private sectors.
For the lithium-ion segment, there is significant interest from OEMs and other customers, with RFQs already started.
Exide is well poised to service growing requirements, leveraging customer connect from its 75 years in the market.
The lithium-ion manufacturing plant is expected to start production in late 2024 to 2025, aiming to meet growing customer demand.
Overall, while no quantified order book details are disclosed, the company indicates healthy demand and growth prospects across segments.

See what Exide Industries Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Exide is setting up a multi-gigawatt lithium-ion cell manufacturing facility in Bangalore on ~80 acres.
The plant will have two phases: Phase I with 6 GWh capacity, Phase II with another 6 GWh, totaling 12 GWh.
Total capex for the plant is estimated at around INR 6,000 crores (~INR 4,000 crores for Phase I, INR 2,000 crores for Phase II).
Bhumi Pujan has been done; construction has started, with necessary approvals underway.
Senior management hiring for the project is nearly complete.
Start of production (SOP) for Phase I expected in late FY 2024-25, with stabilization in FY 2025-26.
Funding will be largely through internal accruals and equity infusion; bridge financing may be taken if needed.
Concurrent investments in R&D (BMS development) and building in-house lithium-ion cell lab facility.
Brownfield expansions and debottlenecking planned for lead-acid battery core business with ~INR 400-500 crores annual capex.
Nexcharge subsidiary fully acquired to consolidate EV battery-related operations.

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