Exide Industries Q2 FY27 Results: Consolidated Net Profit ₹287 Crore on Total Income of ₹5,334 Crore
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- Batteries
Reviewed byKeshav SehgalBlacklitt Research
Exide Industries (NSE: EXIDEIND) reported consolidated total income of ₹5,333.97 crore and net profit of ₹287.14 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹5,068.58 crore and net profit of ₹386.45 crore, it said in a filing on 04 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹5,333.97 crore, up 20.7% YoY and down 4.0% QoQ
- Net profit: ₹287.14 crore, up 65.4% YoY and down 18.3% QoQ
- EPS: ₹3.37 basic, against ₹2.02 a year earlier and ₹4.12 in Q1 FY27
- Finance costs: ₹31.02 crore, down 21.9% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹5,068.58 crore, up 20.1% YoY and down 4.7% QoQ
- Net profit: ₹386.45 crore, up 75.1% YoY and down 5.1% QoQ
- EPS: ₹4.55 basic, against ₹2.60 a year earlier and ₹4.79 in Q1 FY27
- Dividends paid: ₹170 crore in the year to 30 Sep 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,333.97 | 4,418.17 | +20.7% | 5,555.25 | -4.0% | |
| Revenue from operations | 5,291.87 | 4,364.51 | +21.2% | 5,528.38 | -4.3% |
| Other income | 42.10 | 53.66 | -21.5% | 26.87 | +56.7% |
| 287.14 | 173.64 | +65.4% | 351.30 | -18.3% | |
| Profit before tax | 423.73 | 253.33 | +67.3% | 487.03 | -13.0% |
| Finance costs | 31.02 | 39.74 | -21.9% | 19.81 | +56.6% |
| Depreciation | 149.30 | 152.10 | -1.8% | 142.07 | +5.1% |
| Tax expense | 136.59 | 79.69 | +71.4% | 135.73 | +0.6% |
| Net profit margin | 5.38% | 3.93% | +1.45 pp | 6.32% | -0.94 pp |
| EPS, basic (₹) | 3.37 | 2.02 | +66.8% | 4.12 | -18.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit rose 65.4% YoY, faster than total income at 20.7%. Profit before tax rose 67.3%, a little faster than net profit, while tax expense rose 71.4%. Net profit as a share of total income was 5.38%, against 3.93% a year earlier.
Other income fell to ₹42.10 crore from ₹53.66 crore a year earlier, and is 0.8% of total income this quarter. Revenue from operations rose 21.2% over the same period, so the growth in total income sits in operating revenue. Finance costs of ₹31.02 crore are 0.6% of total income, down from ₹39.74 crore a year earlier.
Against the quarter before, consolidated net profit fell 18.3% while total income fell 4.0%. Tax expense was flat at ₹136.59 crore against ₹135.73 crore, so the lower profit before tax of ₹423.73 crore against ₹487.03 crore is the main difference in the quarter-on-quarter fall in net profit.
The consolidated figure is ₹99.31 crore below the standalone net profit of ₹386.45 crore. The consolidated limited review report says one subsidiary's interim information was reviewed by another auditor, and that four subsidiaries and three associates were not reviewed, which management says are not material.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,068.58 | 4,220.72 | +20.1% | 5,319.09 | -4.7% | |
| Revenue from operations | 5,026.14 | 4,178.29 | +20.3% | 5,305.05 | -5.3% |
| Other income | 42.44 | 42.43 | 0.0% | 14.04 | +202.3% |
| 386.45 | 220.74 | +75.1% | 407.26 | -5.1% | |
| Profit before tax | 522.32 | 297.58 | +75.5% | 543.32 | -3.9% |
| Finance costs | 8.74 | 8.93 | -2.1% | 8.31 | +5.2% |
| Depreciation | 117.67 | 130.57 | -9.9% | 117.63 | 0.0% |
| Tax expense | 135.87 | 76.84 | +76.8% | 136.06 | -0.1% |
| Net profit margin | 7.62% | 5.23% | +2.39 pp | 7.66% | -0.03 pp |
| EPS, basic (₹) | 4.55 | 2.60 | +75.0% | 4.79 | -5.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 75.1% YoY, faster than total income at 20.1% and slower than profit before tax at 75.5%. Standalone net profit margin was 7.62%, against 5.23% a year earlier.
Other income was ₹42.44 crore, flat on a year earlier, and is 8.1% of profit before tax of ₹522.32 crore. Tax expense of ₹135.87 crore is 26.0% of profit before tax, against ₹76.84 crore and a lower profit base a year earlier.
Depreciation fell 9.9% YoY to ₹117.67 crore, while the year-earlier quarter carried ₹130.57 crore. The standalone statement shows an item of ₹478.80 crore in other comprehensive income for the three months that will not be reclassified to profit or loss; the company's press release does not explain it.
The company says the cost pressure from input prices was absorbed partly through cost optimisation, calibrated price increases and volume growth, which it says enabled EBITDA margin expansion of 270 bps YoY to 12.1%.
Inference
The filing states that the company infused ₹550 crore of equity into Exide Energy Solutions Limited between April and October 2026, taking the cumulative investment to ₹5,352 crore, and that the Bengaluru gigafactory of 6 GWh was commissioned on 23 Sep 2026. The company also says it has zero debt.
The filing approves a change of registrar and share transfer agent from MUFG Intime India to Maheshwari Datamatics, with the effective date to be intimated later. Not stated: the reason for the change, the effective date, the cause of the ₹478.80 crore other comprehensive item, the financial terms of the ExCom agreement, or the revenue or profit the gigafactory contributes.
Filed with BSE on . Reference: Original filing (PDF)
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