External broker reports(aggregated public sources), Sharekhan

Sharekhan

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>A muted show by OEMs marred Q2FY25 numbers, even though replacement demand was strong.</li><li>Li-ion project on track , while management is emphasising on an increase in penetration in export markets.</li><li>Outlook We retain a Buy with a revised SOTP-based PT of Rs 534 on the expectation of continued recovery in replacement demand, improvement in EBITDA margins on steady raw material costs and timely execution of Li-ion cell project.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

A muted show by OEMs marred Q2FY25 numbers, even though replacement demand was strong.Li-ion project on track , while management is emphasising on an increase in penetration in export markets.Outlook We retain a Buy with a revised SOTP-based PT of Rs 534 on the expectation of continued recovery in replacement demand, improvement in EBITDA margins on steady raw material costs and timely execution of Li-ion cell project.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Exide Industries Ltd - Q2 Misses Mark Despite Strong Replacement Demand