Analysts/Institutional Investor Meet/Con. Call Updates

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Thet ransocftr hieepa trn incgasli lsa lsaov ailoanbt lhCeeo mpanwye'bssa itt e https://iwnwdwu.setxriidet so.rcso/me-/acirnanilvnleg. aspx. Wer equyeotsukot i ntdaltkyhe se a moenr ecord. Thanykoiun.g Youfarist hfully, FoErx iIdned usLtirmiietse d JiteKnudmraar CompaSneyc retary and PresiLdeegn&at Cl-o rpoArfafatier s ACSN o1.1 159 Encalsa: b ove ExiIdned usLtirmiietsExe idHd,oe u s5e9,CE h owriRnogahKdeo,el kat0a2-07 00 Phon:(e 0 3233)0 2-32420803,- 22218731-,2 118 e-m:ae ixli deindustrieswlwiwm.ietxeidd@eeixniddues.tcroi.eisn.,c om CI:NL 34102WB1947PLC014919 “Exide Industries Limited Q1 FY27 Earnings Conference Call” August 03, 2026 MANAGEMENT: MR. AVIK ROY – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER –EXIDE INDUSTRIES LIMITED MR. MANOJ KUMAR AGARWAL – DIRECTOR FINANCE AND CHIEF FINANCIAL OFFICER – EXIDE INDUSTRIES LIMITED MR. JITENDRA KUMAR – PRESIDENT, LEGAL AND CORPORATE AFFAIRS, COMPANY SECRETARY – EXIDE INDUSTRIES LIMITED MR. PRASHANT SARASWAT – HEAD, INVESTOR RELATIONS – EXIDE INDUSTRIES LIMITED MODERATOR: MR. ADITYA JHAWAR – INVESTEC CAPITAL Page 1 of 15 Exide Industries Limited August 03, 2026 Moderator: Ladies and gentlemen, a very good afternoon, and welcome to the Q1 FY27 Earnings Call of Exide Industries Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing start then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Aditya Jhawar from Investec Capital. Thank you, and over to you, sir. Aditya Jhawar: Yes. Thank you. Good afternoon, everyone. From Exide Industries, we have with us MD and CEO, Mr. Avik Roy; Director of Finance and CFO, Mr. Manoj Kumar Agarwal; President, Legal and Corporate Affairs, Company Secretary, Mr. Jitendra Kumar; and Prashant Saraswat, Head of Investor Relations. Before we proceed, there's a disclaimer for the call. A few statements made by the company's management in the call may be forward-looking in nature, and we request you to refer to the disclaimer in the earnings presentation for further details. We will start the call with a brief opening remarks from the management, followed by Q&A session. I would now like to invite Mr. Avik Roy for opening remarks. Over to you, sir. Avik Roy: Thank you, Aditya. Good afternoon, ladies and gentlemen, and a warm welcome to you all to the Exide earnings call. Let me begin with the operating environment, followed by our financial and business performance, and I'll end with the progress of our advanced chemistry giga factory. India's demand environment remained supportive during the last quarter. The improvement in affordability and consumer sentiment following GST rationalization, which happened in second half of last year, continued to support the automotive and other consumer demand. Sentiment in both rural and urban markets remained positive and the replacement market demand stayed robust. On the cost side, the environment remains challenging. Input costs remained elevated during the quarter, largely reflecting disruptions in West Asia and adverse currency movement. While lead LME prices in USD terms remained largely range bound, adverse movement in the Rupee against U.S. dollar continue to put pressure on input costs. The company has taken calibrated price adjustments to partially offset the impact while continuing to keep a close watch on the evolving commodity and currency environment. Against this backdrop, the company delivered a strong performance during quarter 1 '27. All major businesses recorded double-digit growth, led by 2-wheeler and 4-wheeler OEM, home UPS, solar, 2-wheeler and 4-wheeler replacement business, industrial infrastructure ex telecom and even exports. This resulted in a standalone revenue growth of 17.6% during the quarter. EBITDA stood at INR655 crores, up 19.5% year-on-year, with EBITDA margin at 12.4%. The margin expanded Page 2 of 15 Exide Industries Limited August 03, 2026 by 20 basis points on a year-on-year basis and by around 70 basis points on a sequential quarter basis. This margin expansion despite cost and currency headwinds was driven by higher revenues, cost control through our cost excellence program and a very efficient supply chain. The balance sheet remains strong. We continue to be debt-free and generate healthy operating cash flows. As I mentioned, Q1 '27 saw a broad-based growth across our businesses. Automotive OEM business marked its third consecutive quarter of 25% growth on a year-on-year basis. Of course, it is on a low base of last year. This reflects sustained momentum in automotive OEM demand and our strong position across key vehicle platforms. Home inverters and solar also delivered growth of over 20% year-on-year, aided by a strong summer season demand and focused market initiatives. Solar achieved its highest ever quarterly revenue of INR400 crores plus. Industrial Infrastructure, excluding telecom, maintained its double-digit growth trajectory supported by industrial UPS and traction business. However, government tenders remained muted during the quarter, though we expect it to pick up in the second half. Exports business, on a low base after 5 consecutive quarters of decline, grew by 20% plus on revenues. We continue to closely monitor the evolving global macro environment though. A little update on our lithium ion giga factory. At the Bangalore giga factory, equipment across all 4 production lines has now been delivered and installed and the utility is fully operational. The milestone I would like to highlight is that our first NCM cylindrical line commenced customer sample deliveries during the quarter. These are the first locally manufactured cells out of the facility. The LFP prismatic line has also started sample supplies for 3-wheeler and telecom applications. We have also meanwhile completed key certifications and testing requirements, including multiple BIS standards registrations. We expect revenue contribution from the Bangalore plant to commence during FY27 shortly. Localization runs through all of this. What we are building is a genuinely Indian advanced chemistry cell platform, multiple chemistries, multiple form factors, strategic sourcing partnerships for raw materials, automation-led manufacturing and a global technology partnership. Our cumulative investment in form of equity in our subsidiary, Exide Energy Solutions Limited stood at INR4,902 crores as on 31st July, including a INR100 crores investment made in the month of July. Thank you very much. And with this, I would like to close my opening remarks. I will give it back to the moderator, please. Moderator: Thank you very much. We will now begin the question-and-answer session. The first question is from the line of Vibhav Zutshi from JPMorgan. Page 3 of 15 Exide Industries Limited August 03, 2026 Vibhav Zutshi: Congratulations on a strong quart [Showing first 8,000 characters — download PDF for full document]