A PROJECT REPORT ON EXIDE INDUSTRIES

LIMITED

SUBMITTED TO: -

SUBMITTED BY: -

Student’s Declaration

We hereby declare that the report presented is entirely by our

own unless otherwise acknowledged. We have cited all sources
used in this work appropriately and have not used any
unauthorized materials. Furthermore, we understand that any
form of academic dishonesty, including plagiarism, cheating, or

1
fabrication, is a serious offense and may result in disciplinary
action by the educational institution, including but not limited to
failing grades or expulsion. We acknowledge that we have read
and understood the academic integrity policies of our institution
and agree to abide by them at all times.

ACKNOWLEDGMENT

We would like to express our sincere gratitude to all those who

have contributed to the completion of this project report. First
and foremost, we extend our heartfelt thanks to Prof. Kumar
Mohanty for his invaluable guidance, support, and
encouragement throughout the duration of this project. His
expertise, constructive feedback, and unwavering commitment
have been instrumental in shaping the direction of this research.
Special thanks to KIIT School of Management for providing the
necessary resources and facilities for the successful completion
of this project. Last but not least, we are thankful to those who

2
helped in survey for their unwavering encouragement, patience,
and understanding throughout this endeavour.

TABLE OF CONTENTS
Sr No. Contents Page No.

1 Introduction 5-6

2 Financial Health 7

3 Competitor Analysis 8

4 Statistical Analysis 9-10

5 Response 11-15

6 Reference 16

3
 INTRODUCTION

Exide Industries Limited (Exide) is a multinational Indian

manufacturer of storage batteries, with its headquarters
located in Kolkata, India. It is India's biggest producer of
lead-acid storage batteries and a leading supplier of power
storage solutions.
The company operates ten international standard factories,
two of which are devoted to the production of home UPS
systems and the other eight of which are located across five
states in the nation. The factories are situated in the following locations:
Ahmednagar, Maharashtra; Chinchwad & Taloja; West Bengal; Haldia &
Shyamnagar; Uttarakhand; Roorkee & Haridwar; Tamil Nadu; Bawal, Haryana;
and Prantij, Gujarat.

Exide conducts business internationally through its overseas affiliates and

subsidiaries and maintains production sites in Singapore, the United Kingdom,
and Sri Lanka.
Exide exports its batteries to more than 60 countries across the globe. It has a
strong 95,000+ distributor & dealer / sub-dealer network. Through its subsidiary
Exide Energy Private Limited (under the trademark Nexcharge), the company
has ventured into the production of lithium-ion battery modules and packs for
the Indian market for electric vehicles and stationary applications. Additionally,
it recently established Exide Energy Solutions Limited as a wholly-owned
subsidiary and is currently building a plant in Bengaluru, Karnataka, to produce
lithium-ion cells with a capacity of several gigawatt hours.

Exide batteries were imported for many years into India, as they were into many
other former British colonies, until the Chloride Electrical Storage Company
(CESCO) was established in 1920. It began only as an assembly and
manufacturing plant; in 1947, Shyamnagar, West Bengal, became the site of the
first production plant. This signalled Associated Battery Makers Eastern
Limited's (ABMEL) historic arrival onto the Indian industrial scene.
Exide and Digenite (used by Rolls Royce) were ABMEL's main brands for road
cars, but the company was also branching out into other areas. The Railways ran
on Exide "Iron Clad" batteries, and the business quadrupled its output of special
defence batteries in 1963 in response to Chinese invasion. In that same year, the
manufacturing

Exide produces a large variety of batteries for use in the automotive, industrial,
and transportation industries, among other markets. Lead-acid batteries for
automobiles, trucks, motorcycles, forklifts, yachts, and other vehicles are among

4
their product offerings. Additionally, they manufacture industrial batteries for
stationary applications, renewable energy storage, and backup power systems.
Although Exide is most recognised for developing lead-acid batteries, the
business has also made investments in R&D to develop and launch cutting-edge
battery technologies. This comprises goods that, when compared to
conventional flooded lead-acid batteries, offer better performance and longevity,
such as Absorbed Glass Mat (AGM) batteries and Enhanced Flooded Batteries
(EFB) for automotive applications.
Exide serves clients in more than 80 countries by running production and
distribution sites across many nations. Due to its widespread presence, the
business is able to meet the various needs of clients in various geographical
areas and sectors.
Exide has been attempting to lessen the environmental impact of its operations
and goods as sustainability and environmental concerns gain in importance. This
includes programmes to create more environmentally friendly battery
technologies and recycle spent batteries in an ethical manner.

There is a reputation for excellence, dependability, and longevity with Exide

Batteries. To guarantee that its products satisfy the highest performance and
safety standards, the company places a strong emphasis on strict quality control
procedures and complies with industry norms.
To make sure that consumers get the most out of their battery products, Exide
offers extensive customer support services, such as technical assistance,
warranty support, and battery care guidance.
With decades of experience and innovation behind them, Exide Batteries have
built a solid name in the market for offering dependable energy storage solutions
for a range of applications.

FINANCIAL HEALTH
Revenue: The company experienced strong revenue growth of 13% year-
overyear.
Profitability:

5
Adjusted EBITA (earnings before interest, taxes, and amortization) increased by
a significant 25% year-on-year.

Adjusted EBITA margin also improved substantially, by 1.8 percentage points

year-over-year.
Financial Strength:
Net income grew by 15% year-on-year.
Free cash flow, a measure of financial health, increased by 38% year-on-year.

Dividend:

The company distributed a dividend of ₹3.50 per share, representing an 11%

increase from the previous year.
Sustainability:

The company achieved a Schneider Sustainability Impact Target Score of 6.13,

indicating a commitment to sustainable practices.
FY24 Targets:

The company is targeting ambitious adjusted EBITA organic growth of 8% to

12% in the coming year. This growth is expected to be driven by revenue growth
of 6% to 8% and further margin improvement of 40 to 60 basis points.
Overall Interpretation:

The financial results depicted in the image suggest a company in a strong financial
position. They are experiencing healthy revenue growth, profitability, and cash
flow generation. The company is also committed to returning value to
shareholders through dividends and is mindful of sustainable practices. Their
ambitious FY24 targets indicate confidence in their ability to sustain this positive
momentum.

COMPETITOR ANALYSIS

COMPANY
NAME

6
 ABOUT Known for both automotive and Known for being reliable and
industrial batteries lowmaintenance batteries

USP Exide battery stands out with its Amara Raja's USP lies in its
unparalleled performance and cuttingedge battery technology,
durability, ensuring reliable power powering industries and innovations
supply whenever needed. worldwide.

VALUATION 14760 crores 7099 crores

REVENUE Rs 152,029 m in FY23 Rs 104 billon in FY23

SALES 15078 crores 10386 crores

GROSS PROFIT RS. ₹15,937 crore in FY 23 ₹3310.00 crores in FY 23

MARKET 25198 crores 13162 crores

SHARE

STATISTICAL ANALYSIS

7
• Multiple R: This value, 0.5937, represents the correlation between the
predicted values and the actual values of the dependent variable. It indicates
a moderate positive correlation. A value of 1 would indicate a perfect positive
correlation, and 0 would indicate no correlation.
• R Square: This value, 0.3525, represents the proportion of the variance in the
dependent variable that is explained by the independent variable(s) in the
model. In this case, it means that 35.25% of the variability in the dependent
variable is explained by the independent variable(s).
• Adjusted R Square: This value, 0.33347, is a adjusted version of R Square
that accounts for the number of independent variables in the model. It is used
to prevent overfitting the model to the data.
• Standard Error: This value, 0.9616, represents the standard deviation of the
residuals. The residuals are the differences between the actual values of the
dependent variable and the predicted values from the model. A lower standard
error indicates that the model fits the data more closely.
• Observations: This value, 36, represents the number of data points that were
used to fit the model.
• Regression: This section shows the explained variability. The F-statistic
(18.51076) and its significance level (p-value of 0.000135) indicate that the
regression model is statistically significant. This means that the independent
variable(s) in the model have a statistically significant relationship with the
dependent variable.

8
 • Residual: This section shows the unexplained variability.
• Intercept: This value, 1.512482, represents the predicted value of the
dependent variable when the value of the independent variable is zero.
• X Variable: This coefficient, 0.549192, represents the change in the predicted
value of the dependent variable for a one-unit increase in the independent
variable. The positive sign indicates a positive relationship between the
independent and dependent variables.
• Standard Error: These values represent the standard errors of the
coefficients. They are used to assess the precision of the coefficient
estimates.
• t Stat: These values are the t-statistics for the coefficients. They are used to
test the null hypothesis that the corresponding coefficient is equal to zero. The
p-values associated with the t-statistics indicate the statistical significance of
the coefficients. In this case, both the intercept and the X variable have
statistically significant coefficients (p-values of 0.002567 and 0.000135,
respectively).
• Lower 95% and Upper 95%: These values represent the 95% confidence
interval for the coefficients. They indicate the range of values within which we
are 95% confident that the true coefficient lies.

Overall, the regression analysis suggests that there is a statistically significant

relationship between the independent variable and the dependent variable. The
model explains 35.25% of the variance in the dependent variable. However, it is
important to note that the R-squared value is relatively low, which suggests that there
may be other factors that influence the dependent variable that are not accounted for
by the model.

RESPONSE

9
10
11
12
13
 REFERENCE
https://www.exidegroup.com/eu/en https://en.wikipedia.org/wiki/Exide_Industries

https://economictimes.indiatimes.com/exide-industries-ltd/stocks/companyid-13895.cms

https://www.exidegroup.com/en/about-us

https://simplywall.st/stocks/in/automobiles/nse-exideind/exide-industries-shares/health

https://www.moneycontrol.com/financials/exideindustries/balance-sheetVI/EI

https://economictimes.indiatimes.com/exide-industries-ltd/balancesheet/companyid-
13895.cms https://www.amararajaeandm.com/Investors/

https://simplywall.st/stocks/in/capital-goods/nse-are-m/amara-raja-energy-
mobilityshares/health https://en.wikipedia.org/wiki/Amara_Raja_Group

14