India’s largest storage battery producer Exide Industries recorded mere 2% increase in net profit to Rs 56.2 crore on 9% rise in net sales to Rs 788.7 crore in the quarter ended December 2008. Thanks to steady growth in replacement market, its sales volume grew by 8% during this period.
The company has witnessed fall in margins by about 50 basis points to 14.6% in the quarter ended December 2008 from 15.1% in the corresponding previous quarter. On a sequential basis, the company recorded steeper 190 basis points fall in margins from 16.5% in the quarter ended June as well as September 2008.
The domestic lead prices were 32% lower at Rs 88 per kg in the quarter ended December 2008 from Rs 129 per kg in the corresponding previous quarter. But the sales growth was impacted by poor offtake in the OEM segment.
The company indicated that the recent softening of lead prices in the international markets did not help the company significantly as part of the gains were lost due to depreciation of the rupee against dollar. Going forward, the company indicated that hopefully by the end of the next quarter, it will get some benefit provided lead prices don’t become volatile again and the rupee somewhat strengthens.
Also, the company said that it recorded impressive 17% growth in the quarter ended December 2008 in the industrial battery segment, but cautioned that the sales volume in the telecom segment is expected to be less buoyant in the forthcoming quarters.
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| Company Name | CMP |
|---|---|
| Exide Inds | 424.10 |
| Amara Raja Energy | 1229.00 |
| HBL Engineering | 560.40 |
| Eveready Inds. India | 373.80 |
| Indo-National | 512.90 |
| View more.. | |
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