On Friday, Exide Industries was in the spotlight. On November 29, 2024, Exide Industries share price opened at ₹457.00, almost the same as its previous close of ₹457.05. At 11:06 AM, the share price of Exide Industries was trading at ₹451.80, down by 1.15%.
On November 26, 2024, Exide Industries Limited (EIL) announced an investment of ₹99.99 crore in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue. This investment brings the company’s total investment in EESL to ₹3,052.24 crore.
Despite the significant capital infusion, there is no change in EIL’s shareholding percentage in EESL. The move reinforces EIL’s commitment to strengthening its subsidiary, which focuses on advanced energy solutions, and highlights the company’s strategic investment approach to enhance its operational and market capabilities.
The company reported revenues of ₹4,267 crore for the quarter, reflecting a year-on-year growth of 3.9%. Profit Before Tax (PBT) stood at ₹399 crore, with a PBT margin of 9.4%. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) amounted to ₹484 crore, translating to an EBITDA margin of 11.3%. The Profit After Tax (PAT) was ₹298 crore, representing a PAT margin of 7.0%.
Exide Industries Ltd is mainly involved in the manufacturing of storage batteries and allied products in India.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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