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Exide Industries: Buy (U/R); PT Rs162 (U/R)
The company has auto replacement business margins of 20%, auto OEM
margins of 5-8% and industrial battery margins in the range of 16-18%.
Exide plans to increase its 4W capacity from 9.5mn in FY11 to 12mn in
FY12 and increase its 2W capacity from 16.5mn in FY11 to 21.5mn in
FY12.
The automotives is running at 100% capacity utilization and the company
plans to add 15% capacity year for the next 2 years to cope with higher
demand.
The growth in industrial battery segment is seasonal in nature – strong in
summer and weak in winter. The company estimates overall volume growth
of 12-14% in future in this segment.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Exide Industries: Buy (U/R); PT Rs162 (U/R)
The company has auto replacement business margins of 20%, auto OEM
margins of 5-8% and industrial battery margins in the range of 16-18%.
Exide plans to increase its 4W capacity from 9.5mn in FY11 to 12mn in
FY12 and increase its 2W capacity from 16.5mn in FY11 to 21.5mn in
FY12.
The automotives is running at 100% capacity utilization and the company
plans to add 15% capacity year for the next 2 years to cope with higher
demand.
The growth in industrial battery segment is seasonal in nature – strong in
summer and weak in winter. The company estimates overall volume growth
of 12-14% in future in this segment.
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