Anand Rathi has given Buy recommendation for Exide Industries with a target price of Rs. 195 in its research report issued on May 05, 2022

Anand Rathi’s research report on Exide Industries

In Q4, strong growth in automotive and robust demand in the industrial verticals were the highlights for Exide Industries. Exports continue to grow faster as it continues to increase its presence in global markets in both the automotive and industrial verticals. Also, its partnership with SVOLT to manufacture lithium-ion batteries augurs well for long term growth.

Outlook

We maintain a Buy at a revised TP of Rs.195 (14x FY24e).

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