Exide Industries’ (EIL) Q1FY17 reported strong set of results & were above our estimates on all the parameters. Revenues grew by 11.8% YoY to |2011 crore, vs. our estimate of |1952 crore. According to the management, the demand for both automotive and industrial battery has seen some improvement during Q1FY17.ICICI Securities Limited value EIL’s core business at 18x FY18E EPS of | 10 and other subsidiaries at | 12/share to arrive at a target price of | 195. Thus we, maintain our BUY recommendation on the stock.Trendlyne has 18 reports on EXIDEIND updated in the last year from 7 brokers with an average target of Rs 160.3. Brokers have a rating for EXIDEIND with 1 downgrade,3 price downgrades,2 price upgrades in past 6 months and 3 downgrades,6 price downgrades,1 upgrades,3 price upgrades in past 1 Year.