Hold Exide Industries, target price Rs 190: Emkay Global

Emkay Global has hold call on Exide Industries Ltd. with a target price of Rs 190. The current market price of Exide Industries Ltd. is Rs 170.95.

Exide Industries Ltd., incorporated in the year 1947, is a Mid Cap company (having a market cap of Rs 14522.25 Crore) operating in Auto Ancillaries sector.

Exide Industries Ltd. key Products/Revenue Segments include Batteries (Storage), Export Incentives, Other Operating Revenue, Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 3876.77 Crore, down -4.30 % from last quarter Total Income of Rs 4051.09 Crore and down -18.77 % from last year same quarter Total Income of Rs 4772.50 Crore. Company reported net profit after tax of Rs 241.38 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 45.99 per cent stake in the company as of 30-Sep-2022, while FIIs owned 10.4 per cent, DIIs 17.81 per cent.