Auto Parts & Equipments company Exide Industries announced Q1FY24 results: Revenue from operations increased by 4.2% YoY in Q1FY24. Despite raw material costs remaining firm during Q1FY24, we recorded impressive growth in operating profits. EBITDA grew by 11.7% and EBIDTA margin was 10.6% in Q1FY24 compared to 9.9% in Q1FY23. PBT grew by 6.2% YoY and PBT margin was 7.9% in Q1FY24 (7.8% in Q1FY23). Our automation and cost optimisation initiatives are bearing fruit, thereby supporting enhanced levels of profitability. We maintain our track record of generating high cashflows and a comfortable balance sheet with zero debt. Commenting on the performance - Subir Chakraborty, MD & CEO, said, 'Our operating profits grew at a handsome rate of 11.7% during the first quarter of the year. Steady sales expansion in key verticals along with cost optimisation benefits resulted in healthy EBITDA growth. We expect overall demand scenario to be positive in the near-term and profitability levels to increase, supported by the easing of input cost inflation and further realisation of cost efficiency initiatives. With technological advancements, demand for more efficient products and solutions is growing at a rapid pace. Our latest offerings in Automotive Division include advanced batteries for hybrid vehicles, longer-life batteries for e-rickshaws, and a superior range of inverters/HUPS. For the Industrial Division, we have introduced the FHP series of Industrial UPS to address critical power load demand from data centers. A comprehensive renewable portfolio for the solar sector, along with longer-life traction and telecom batteries/solutions have been the other innovations introduced lately. Our futuristic product portfolio along with unparalleled customer service keeps us ahead of the curve and well-prepared for the future. Our lithium-ion cell manufacturing project is progressing well as per schedule. We are excited about the future and look forward to becoming one of the leading domestic players offering state-of-the-art products and solutions in the fast-growing electric mobility space as well as for stationary applications.” Result PDF