Automobiles & parts Exide Industries announced Q2FY23 results: Sales momentum remains healthy as revenue from operations grew by 13% and 32%, YoY in Q2FY23 and H1FY23 respectively. Our effective cost optimisation initiatives continue to lower fixed costs. Total fixed expenses (employee costs and other expenses) were 19.4% and 18.7% of sales in Q2FY23 and H1FY23 (down from 20.2% in Q2FY22 and 20.5% in H1FY22) High input costs continue to impact profits YoY. However, EBITDA margins increased to 11.1% in Q2FY23 as compared to 9.9% in Q1FY23. Similarly, PBT increased to 8.9% in Q2FY23 as compared to 7.8% in Q1FY23. Judicious pricing strategies along with sequential respite in input cost inflation have supported margins. We maintain our track record of generating high cashflows and a comfortable balance sheet with zero debt. Subir Chakraborty, MD & CEO, said, "Sales growth of 13% and 32% respectively during the second quarter and first half of the year is driven by an uptick in volumes and our judicious pricing strategies across verticals. Current quarter onwards, our profitability margins have also started recovering compared ta the immediately previous quarter. Easing of unprecedented inflationary pressures in input costs and benefits of the cost optimisation strategies have contributed to margin increase. We expect the buoyant demand scenario to remain in the medium term across most verticals and margin recovery to be supported by a respite in input casts ta the same extent. We recently conducted the Bhoomi Paajan ceremony and are delighted to announce a formal start to our lithium-ion cell manufacturing project. While we have been maintaining the leading position in the lead-acid battery market for the past 75 years, we are simultaneously taking significant steps ta strengthen our position in the emerging Li-Ian space." Result PDF