Exide Industries reported strong Q4 FY26 performance with its highest-ever quarterly revenue, driven by a 12.5% year-on-year growth in the domestic business. The company maintained robust EBITDA margins of 11.7% despite global supply chain headwinds. Significant progress is underway on the Rs. 4,802 crore lithium-ion cell manufacturing project, with sample deliveries and product trials scheduled as part of a phased ramp-up strategy for FY27.
Financial Performance Highlights
Exide Industries concluded FY26 with a 4.1% year-on-year revenue growth. The company’s core domestic business saw strong demand across key verticals including 2-wheeler and 4-wheeler OEM, home UPS, and solar solutions. Notably, the solar vertical crossed the Rs. 1,000 crore annual revenue mark. Despite commodity cost pressures, the company successfully expanded its EBITDA margin by 50 basis points year-on-year through manufacturing excellence and strict cost control measures.
Lithium-Ion Manufacturing Updates
The company continues to advance its lithium-ion cell manufacturing project, having invested Rs. 600 crore in Q4 alone, bringing total equity investment to Rs. 4,802 crore. The project is structured around a 6-gigawatt capacity, split evenly between cylindrical and prismatic chemistries. While cylindrical lines are initiating customer sample deliveries, prismatic lines are moving toward product trials. The management highlighted that this facility will focus on localizing the supply chain, supported by anticipated government incentives for the sector.
Market Outlook and Strategy
Management expressed a cautiously optimistic outlook for the lead-acid battery business in the next fiscal year, projecting high single-digit to early double-digit growth. To mitigate ongoing commodity price volatility—particularly regarding sulfur and other essential materials—the company has implemented calibrated price hikes across trade and aftermarket channels. The ‘One-Exide’ operating model, introduced in FY25, continues to drive organizational agility, ensuring the company remains well-positioned to navigate global geopolitical challenges while serving domestic demand.
Source: BSE
