Views on Exide Industries Ltd 1QFY2016 Results: Angel Broking

Views of Mr. Bharat Gianani (Sr. Research Analyst - Automobile, Angel Broking) on Exide Industries Ltd 1QFY2016 Results:

"Exide Industries Ltd 1QFY2016 results were in line with our estimates. Revenues declined 6% yoy to INR 1,800 cr (in line with our expectations of INR 1,731 cr) on account of sluggish automotive OEM demand. Further, subdued demand in the home UPS, power and traction segment also impacted the topline. Operating margins declined 40 bp yoy to 14.8% (we forecasted margins of 15.7%). Topline degrowth coupled with pricing pressures due to competition led to margin stress. Net Profit at INR 155.2 cr dipped 16% yoy and was in line with our estimate of INR 162 cr. We currently have ACCUMULATE rating on the stock."

Shares of EXIDE INDUSTRIES LTD. was last trading in BSE at Rs.146.15 as compared to the previous close of Rs. 144.6. The total number of shares traded during the day was 844061 in over 4814 trades.

The stock hit an intraday high of Rs. 147.8 and intraday low of 136.35. The net turnover during the day was Rs. 120976939.

Source : Equity Bulls

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