Exide Industries Ltd — Q2FY27 earnings call summary

Filed 10 November 2026 · Official transcript

Expect 80% utilization before phase two lithium capex decision; working capital factored
Q2 FY27 standalone revenue 5,026 Cr +20.3% y-y; H1 revenue 10,331 Cr +18.9% y-y
Lithium NMC revenue expected from Q4 FY27; OEM validations progressing well
Multiple new OEM launches won for automotive and auxiliary batteries
Lead-acid core business growth strong; calibrated price hikes offset input cost inflation
Capital allocation: INR400-500 Cr annual capex for core; equity funding continues for lithium
Localization of 50-60% raw material for lithium planned in 2-3 years; 20+ local suppliers engaged
EBITDA Q2 606 Cr +53.6% y-y; margin expanded to 12.1% from 9.4% (+270 bps)