Exide’s Q1 Profit Grows 27% YoY; Gigafactory to Start Generating Revenue in FY27

Q1 FY27 Financial Performance

Exide Industries posted a 27.1% year-on-year rise in its standalone net profit for the first quarter of FY27, helped by strong demand across its automotive and industrial businesses. The battery major said revenue generation from its lithium-ion gigafactory in Bengaluru remains on track to begin during the current financial year.

Standalone profit after tax rose to Rs 407 crore in the quarter ended June 30 from Rs 320 crore a year earlier, while revenue from operations increased 17.6% to Rs 5,305 crore from Rs 4,510 crore. EBITDA grew 19.5% to Rs 655 crore, and the EBITDA margin expanded to 12.4% from 12.2% a year ago.

Demand Drivers and Segment-wise Growth

The company said demand remained strong despite higher raw material costs arising from geopolitical tensions in West Asia and a weaker rupee, which increased import-linked costs. It said calibrated price increases, cost-control measures and supply-chain efficiencies helped improve profitability.

"The continued benefits of GST rationalisation have further strengthened end-customer demand across the automotive sector, with the replacement market remaining robust. Growth opportunities also remain encouraging across automotive OEMs, home inverters, industrial UPS, solar, other infrastructure-related projects and exports," Managing Director and Chief Executive Officer Avik Roy said.

The company said the Automotive OEM business grew by more than 25% for the third consecutive quarter, while the Reserve Power business expanded by over 20%. The two-wheeler and four-wheeler replacement business posted strong double-digit growth, and the international business returned to growth with an increase of more than 20% year-on-year, supported by geographic expansion, new product launches and deeper customer engagement.

Exide's Bengaluru Gigafactory Update

Exide also said its Bengaluru gigafactory had reached another milestone in its lithium-ion battery programme.

"Our Gigafactory in Bengaluru is progressing well towards operational readiness, with utility installations completed across all four production lines. During the quarter, we successfully dispatched the first cell samples from the facility, marking a significant milestone in our lithium-ion business journey. We remain on track to commence revenue generation during FY27," Roy said.

The company said the first nickel manganese cobalt cylindrical production line had begun customer sample deliveries during the quarter, while the lithium iron phosphate prismatic line had recently started sample supplies for three-wheeler and telecom applications. It added that Exide Energy Solutions continues to engage with key original equipment manufacturers and has completed several product certifications and testing requirements.