India’s largest battery producer Exide Industries Ltd on Monday reported 3 per cent improve in standalone revenue earlier than distinctive gadgets and tax at Rs 281 crore for the quarter ending March 31, 2023. It reported standalone revenue of Rs 272 crore within the year-ago interval.
The corporate’s Board has introduced a remaining dividend of Rs 2 (200 per cent on the face worth of Re 1 per share) for FY23. The corporate, in a inventory trade submitting, additionally stated that dividend is topic to approval of the shareholders on the ensuing 76th Annual Normal Assembly. Dividend, if authorised by the shareholders, will likely be paid inside 30 days after the conclusion of the AGM. The Annual Normal assembly of the Firm will likely be assistance on August 8, 2023.
Exide’s standalone income from core operations rose 4 per cent to Rs 3,543 crore for the fourth quarter ended March 2023 as in comparison with Rs 3,417 crore a yr in the past. Different earnings of the corporate additionally grew 5% to Rs 42 crore as towards Rs 40 crore, a yr in the past.
Alternatively, bills of the corporate have climbed marginally to Rs 3,302 crore as in comparison with Rs 3,184 crore a yr in the past. EBITDA (Earnings earlier than curiosity, depreciation, tax and amortization bills) was up 4% at Rs 367 crore towards Rs 353 crore final yr.
“Our liquidity place is robust with wholesome money move era in FY23, and we maintained our zero-debt place within the stability sheet as on March 31, 2023,” the corporate stated in a regulatory submitting. “In automotive vertical, total volumes within the home market continues to register progress year-on-year. Demand was robust from OEMs, with provide aspect constraints easing out through the quarter. Industrial verticals akin to industrial UPS, Photo voltaic, Traction, Telecom and Energy proceed to grab alternatives introduced from improve in capex and financial exercise. Order inquiry has additionally been robust through the quarter.”
After the outcomes announcement, Exide’s scrip on BSE was buying and selling practically 2% increased at Rs 190.55 at 1455 hours on Monday.