Exide Industries Limited — Investor Meet, 21-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Exide Industries reported H1 FY'26 growth of 1.3%, with Q2 impacted by GST rate cuts causing dealer destocking, though over INR500 crore cash flow was generated. The Lithium-ion cell manufacturing project, with INR3,947 crore invested, nears completion, targeting FY'26 end production for 2-wheeler OEMs. Management expects Li-ion margins to eventually align with lead acid, driven by operational efficiency. The company anticipates strong Q3 recovery in solar and auto OEM demand, with core business margins targeting 12-13% via efficiency gains. Exports are also expected to rebound. Sentiment remains confident on growth and operational enhancements.