Exide Industries Ltd (EIL) sales have grown by only 2.4% YoY in the 2QFY01. This is mainly due to the slowdown in the automobile segment.
Operating profit (EBDIT)
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No. of Shares (eoy) (m)
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EIL is India's largest automotive storage battery manufacturer. It also manufactures industrial batteries which find use in heavy-duty applications like power and telecommunications. After it took over Standard Batteries in FY98, Exide commands a 92% market share of the automobile battery market in the organised OEM segment and 85% of the organised replacement market.
Due to cost control measures adopted by the company, its operating margins improved from 15.4% in the 2QFY00 to 16.3% in the 2QFY01.
However due to higher depreciation costs, the net profit has improved by only 5% YoY in the 2QFY01
On the current price of Rs 100, EIL is trading at 7.4x FY2000 EPS of Rs 13.6
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