Earnings · Exide Industries Limited
Exide Industries is listed to report its September-quarter numbers on 4 November 2026. Here are the date check, the low base left by the GST pause, the Q1 rebound, the standalone and consolidated lines that must not be mixed, and the figures to read first.
Quick answer
Exide Industries Q2 results are listed for Wednesday, 4 November 2026 in one weekly list, earlier than last year’s 14 November. The base to beat is about Rs 221 crore standalone profit (Rs 173.64 crore consolidated) on Rs 4,178 crore revenue, hit by the GST price cut. Q1 FY27 standalone profit was Rs 407.26 crore.
Latest update (Sunday, 1 November 2026, 4:50 PM IST): The results are not out. Kotak Neo’s weekly list shows Exide Industries for Wednesday, 4 November; the date rests on that one report, last year’s results came on 14 November, and the filing time is not announced. This page becomes the live analysis after the filing.
Earlier entries:
- Friday, 30 October 2026, 6:00 PM IST: Kotak Neo listed Exide Industries among Wednesday’s results.
- Thursday, 30 July 2026: Q1 FY27 results were reported, per Free Press Journal.
Key takeaways
- Date: Wednesday, 4 November 2026 from one weekly list; confirm on the exchange page.
- Base to beat: Q2 FY26 standalone profit about Rs 221 crore, revenue Rs 4,178 crore, EBITDA Rs 394.5 crore, margin 9.4%.
- Latest quarter: Q1 FY27 standalone profit Rs 407.26 crore, revenue Rs 5,305 crore (+17.6%).
- Cause of the low base: GST cut on batteries and channel de-stocking.
- Trap: standalone and consolidated profit differ by about Rs 47 crore for Q2 FY26.
In plain words: Before the Exide Industries Q2 results arrive, remember that the company makes batteries for cars, two-wheelers, homes and industry. Last September buyers waited for a tax cut to lower prices, so sales and profit fell. That makes this year’s comparison easy. A preview tells you which figures to hold the new numbers against.
Data note: Figures are as of Sunday, 1 November 2026, 4:50 PM IST. The results date comes from one weekly list; the filing itself was not opened for this page. Base figures are company results as reported by Stocktwits, The Week (PTI), Free Press Journal and Upstox. Where sources differ I say so. Derived numbers are my calculation.
When are the Exide Industries Q2 results?
The Exide Industries Q2 results date is listed as Wednesday, 4 November 2026. The date rests on one weekly list, so confirm it on the exchange page.
Kotak Neo’s weekly list, posted at 6:00 PM IST on 30 October 2026, names Exide Industries among Wednesday’s results, and says dates are based on announced board-meeting schedules and may change. I found no second report that quotes the intimation, so treat the date as likely but unconfirmed.
Last year the company reported its Q2 FY26 numbers on Friday, 14 November 2025, ten days later than 4 November, and Q1 FY27 on Thursday, 30 July 2026. The filing time is not announced. Do not trust a screenshot that claims a time before the exchange page shows it.
What will Exide Industries publish?
Exide Industries will publish unaudited standalone and consolidated results for the quarter and half-year ended 30 September 2026, with a press release. Sources quote both sets, so check the label on every figure.
Is the date confirmed?
| Fact | Source | Status | What to do |
|---|---|---|---|
| Results on Wednesday, 4 November 2026 | Kotak Neo weekly list (30 Oct 2026, 6:00 PM IST) | Single report; list is partial and dates may change | Open the BSE or NSE filing to confirm |
| Last year’s Q2 date | PTI via The Week; Stocktwits, 14 Nov 2025 | Reported | Ten days later than 4 November |
| Filing time | Not announced | Unknown | Do not act on unconfirmed screenshots |
Cite this table: PositionalCalls, “Exide Industries Q2 FY27 Date Check, as of 1 November 2026”.
Treat any article that gives another date for the Exide Industries Q2 results as unreliable until you see the filing.
What is the base to beat for the Exide Industries Q2 results?
The base to beat is Q2 FY26 standalone profit of about Rs 221 crore on revenue of Rs 4,178 crore, against Rs 407.26 crore and Rs 5,305 crore in Q1 FY27.
| Measure | Q2 FY25 (Sep 2024) | Q2 FY26 (Sep 2025) | Q1 FY27 (Jun 2026) |
|---|---|---|---|
| Standalone revenue, Rs crore | 4,267 | 4,178 (-2.1%) | 5,305.05 (+17.6%) |
| Standalone EBITDA, Rs crore | 484 | 394.5 (-18.5%) | Not in sources |
| Standalone EBITDA margin | About 11.3% | About 9.4% | Not in sources |
| Standalone net profit, Rs crore | 298 | 221 (-25.8%) | 407.26 (+30% on 312.44) |
| Consolidated revenue, Rs crore | 4,450 | 4,364.51 (-1.9%) | 5,528 (+18%) |
| Consolidated net profit, Rs crore | 233.40 | 173.64 (-26%) | Not verified (one source says 350) |
Cite this table: PositionalCalls, “Exide Industries Base-to-Beat Table, as of 1 November 2026”.
Exide Industries net profit Q2 FY27: the flat-quarter sum
Here is the first useful sum. Q1 FY27 standalone revenue of Rs 5,305.05 crore is +27.0% above Q2 FY26’s Rs 4,178 crore, and Q1 standalone profit of Rs 407.26 crore is +84.3% above Rs 221 crore (my calculations). On the consolidated side, Rs 5,528 crore is +26.7% above Rs 4,364.51 crore. A flat Q2 would therefore show very large growth, because last September was weak.
How was the Q2 FY26 base built?
The GST rate on batteries fell from 28% to 18% from 22 September 2025, according to The Week (PTI). Channel partners delayed purchases while they waited for stock at the new prices, and the company cut production in August and September, which under-recovered fixed costs, Stocktwits reported. Standalone EBITDA margin fell to about 9.4% (394.5 divided by 4,178, my calculation) from about 11.3% a year earlier. The company said it had zero debt.
Exide Industries Q2 results preview: what to expect
No consensus estimate was found for Q2 FY27. Last September the company missed a poll estimate by a wide margin, and Q1 FY27 showed a strong rebound with management confident about GST-led demand.
| Item | What was reported | Source and date | Note |
|---|---|---|---|
| Q2 FY26 estimates vs actual | Poll: profit Rs 319 crore, revenue Rs 4,459 crore, EBITDA Rs 533 crore; actual Rs 221, 4,178 and 394.5 crore | Stocktwits, 14 Nov 2025 | Estimate basis not stated |
| Q1 FY27 outlook | Entered FY27 with confidence; GST benefits expected to drive demand; replacement market robust | Free Press Journal, 30 Jul 2026 | Management view |
| Q1 FY27 segments | OEM above 25%; replacement double digit; inverters and solar above 20%; exports above 20% | Upstox, 30 Jul 2026 | Third straight quarter for OEM and replacement |
| Lithium-ion | First cell samples dispatched; revenue expected in FY27 | Upstox | New business, not yet a profit driver |
| Consensus Q2 estimate | None found | Not applicable | Do not read Q1 as a forecast |
Cite this table: PositionalCalls, “Exide Industries Q2 FY27 Outlook Marks, as of 1 November 2026”.
Upstox reported a consolidated Q1 EBITDA of Rs 621 crore (up 15%) at a margin of 11.23%, which would be down from 11.46%, while another source headlines EBITDA up 19.5%. Treat the Q1 margin as unverified until you see the filing.
Exide Industries EBITDA Q2 FY27: what to expect
Consolidated EBITDA of Rs 621 crore on revenue of Rs 5,528 crore is a margin of 11.2% (my calculation), well above the 9.4% standalone margin of last September. If the Q2 margin merely returns to about 11%, EBITDA on revenue near Rs 5,200 crore would be near Rs 570 crore, against Rs 394.5 crore, a rise of about 45% (my illustration).
Upstox reported the shares up about 5.5% to a 52-week high of Rs 459.90 intraday on 30 July 2026. After the Q2 FY26 results the stock closed at Rs 381.20, up 0.42%. Those are reactions to what the market expected, not forecasts of Q2 FY27.
Exide Industries EBITDA and profit Q2 FY27: scenarios
These Exide Industries Q2 results scenarios are arithmetic, not forecasts. A flat Q1 standalone profit would be +84.3% on Q2 FY26.
Assumptions: standalone; Q2 FY26 revenue Rs 4,178 crore and EBITDA Rs 394.5 crore; revenue growth of 20%, 25% and 30% is my illustration around Q1’s 17.6% year-on-year growth and the 27.0% gap over the weak Q2 FY26 base; margins of 9.4%, 11.0% and 12.0% run from last September’s level toward the Q1 consolidated level.
| Revenue growth on Q2 FY26 | EBITDA at 9.4% margin | EBITDA at 11.0% margin | EBITDA at 12.0% margin |
|---|---|---|---|
| +20% (Rs 5,014 crore) | Rs 471 crore (+19%) | Rs 551 crore (+40%) | Rs 602 crore (+53%) |
| +25% (Rs 5,222 crore) | Rs 491 crore (+24%) | Rs 574 crore (+46%) | Rs 627 crore (+59%) |
| +30% (Rs 5,431 crore) | Rs 511 crore (+29%) | Rs 597 crore (+51%) | Rs 652 crore (+65%) |
Cite this table: PositionalCalls, “Exide Industries Q2 FY27 EBITDA Scenarios, as of 1 November 2026”.
Profit scenarios
| Standalone profit growth on Rs 221 crore | Standalone profit | Against Q1 FY27 (Rs 407.26 crore) |
|---|---|---|
| +50% | Rs 332 crore | -19% |
| +85% | Rs 409 crore | +0% |
| +120% | Rs 486 crore | +19% |
Cite this table: PositionalCalls, “Exide Industries Q2 FY27 Profit Scenarios, as of 1 November 2026”.
Three worked examples
- Margin as last September: revenue +25% is Rs 5,222 crore and a 9.4% margin gives EBITDA of Rs 491 crore, +24% on Rs 394.5 crore (my calculation).
- Margin of 11.0%: Rs 574 crore, +46%.
- Margin of 12.0%: Rs 627 crore, +59%.
The scenarios hold other lines constant. In practice depreciation, other income, tax and losses at the lithium-ion subsidiary sit between EBITDA and consolidated profit, and raw material prices can move the margin.
Which Exide Industries figures should you compare?
When you compare the Exide Industries Q2 results with last year, match standalone with standalone and consolidated with consolidated. Both circulate and they differ.
| Figure | Standalone | Consolidated | The trap |
|---|---|---|---|
| Q2 FY26 net profit, Rs crore | About 221 (-25.8%) | 173.64 (-26%) | Gap of about Rs 47 crore |
| Q2 FY26 revenue, Rs crore | 4,178 (-2.1%) | 4,364.51 (-1.9%) | Different totals |
| Q1 FY27 net profit, Rs crore | 407.26 (vs 312.44) | Not verified | Headline shows 407 vs 320 |
| Q1 FY27 profit growth | About 30% | 27.1% headline | Mixed bases in one headline |
| Q1 FY27 revenue, Rs crore | 5,305.05 | 5,528 (+18%) | Different totals |
| Q1 FY27 EBITDA growth | Not in sources | +15% (Upstox); +19.5% (headline elsewhere) | Sources disagree |
Cite this table: PositionalCalls, “Exide Industries Definition-Trap Table, as of 1 November 2026”.
The Free Press Journal headline gives 27.1% growth to Rs 407 crore, but that compares standalone Rs 407.26 crore with a Rs 320 crore prior-year figure, while the standalone prior-year figure is Rs 312.44 crore. On a standalone basis growth is +30.3% (my calculation).
EBITDA versus profit
EBITDA is earnings before interest, tax, depreciation and amortisation. It leaves out finance cost, depreciation and tax, and consolidated profit also reflects the lithium-ion subsidiary’s results, so standalone and consolidated profit can differ widely.
The estimate base trap
A growth rate applied to Rs 221 crore and to Rs 173.64 crore gives two different profits. Check which line and which quarter an estimate uses before you compare it with the table above.
One more habit helps: write the exact line, the basis and the source beside every figure before results day. When the company files, you can then see in seconds whether a headline is comparing like with like, instead of reacting to a growth rate built on a different base.
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Get the Exide Industries Q2 numbers on WhatsApp
- The filing time and headline numbers, stamped
- Base-to-beat tables for the next company results
- Links to updated Q2 FY27 pages
What do the segments and the GST effect need to show?
In the Exide Industries Q2 results, auto OEM growth above 25% and replacement growth in double digits are the Q1 marks; the GST pause should not repeat.
| Line | Q2 FY26 | Q1 FY27 | Source |
|---|---|---|---|
| Auto OEM | Not in sources | Above 25% for third straight quarter | Upstox |
| Two- and four-wheeler replacement | Delayed buying after GST cut | Double-digit growth | Stocktwits; Upstox |
| Industrial infrastructure | Not in sources | Low double-digit growth | Upstox |
| Inverters and solar | Not in sources | Above 20% | Upstox |
| Exports | Under pressure in H1 FY26 | Above 20% on a low base | Stocktwits; Upstox |
| Lithium-ion cells | Project expected to start by end FY26 | First samples dispatched; revenue in FY27 | The Week; Upstox |
Cite this table: PositionalCalls, “Exide Industries Segment Marks, as of 1 November 2026”.
The GST cut on batteries took effect on 22 September 2025, so the whole of Q2 FY27 benefits from the lower price, while last year only the last week did. Stocktwits also noted the company expected a rebound in the following quarter.
Watch whether replacement and OEM growth stay near the Q1 pace, whether exports hold above 20%, and whether the lithium-ion project begins to show revenue.
Which other results land the same week as Exide Industries?
Kotak Neo’s weekly list shows Apollo Hospitals, Dabur, BSE, Cummins India, Zydus Lifesciences and NHPC on Wednesday too, with Berger Paints on Thursday and Hindalco on Friday.
The list is partial and dates may change. For the format of a results read, see our recent posts on Cummins India Q2 results, Zydus Lifesciences Q2 results and Berger Paints Q2 results. They cover other companies, so only the method carries over. The Q2 results calendar and the earnings calendar list the companies that have reported.
If you hold Exide Industries shares and plan to sell later, our guide to capital gains tax on shares covers how gains are taxed. It is general information, not tax advice.
How to read the Exide Industries Q2 results in 10 minutes
To read the Exide Industries Q2 results quickly, go through seven lines in order: standalone revenue, EBITDA, margin, standalone profit, consolidated profit, segment commentary and the notes.
| What to read | Mark to compare | Question to ask |
|---|---|---|
| Standalone revenue | Rs 4,178 crore; Rs 5,305 crore | Did it hold near Rs 5,300 crore? |
| Standalone EBITDA | Rs 394.5 crore | How far above last September? |
| EBITDA margin | 9.4%; about 11% in Q1 | Did it recover? |
| Standalone profit | Rs 221 crore; Rs 407.26 crore | Near the Q1 level? |
| Consolidated profit | Rs 173.64 crore | Is the headline using this line? |
| Segments | OEM above 25%; replacement double digit | Did growth hold? |
| Notes | Lithium-ion costs, one-offs | Is any line unusual? |
Cite this table: PositionalCalls, “Exide Industries Results-Day Decoder, as of 1 November 2026”.
How to read the Exide Industries filing on NSE or BSE
Open the exchange announcement, find the standalone statement first and compare each line with the base table above, same measure, same basis.
- Open the BSE corporate announcements page or the NSE corporate filings page and search for Exide Industries.
- Choose the financial results announcement for the quarter ended 30 September 2026.
- Find the standalone statement first, then the consolidated.
- Check the unit and whether a column is for the quarter or six months.
- Read revenue, total expenses and profit after tax on both bases.
- Open the press release for segment growth and the lithium-ion update.
- Check the notes for exceptional items.
- Compare every figure with the base table.
What it costs: reading a filing is free. If you trade the stock, brokerage, securities transaction tax and other charges apply, so check your broker’s current schedule. Tax angle: dividends and gains follow the current tax rules, so see our guide to capital gains tax on shares or ask a tax adviser. Scam warning: on results day, fake “result alert” groups and sure-shot tips circulate. Nobody can guarantee a gain, and official filings are free.
What is the results-day checklist for Exide Industries?
- Confirm the date on the BSE or NSE announcement page.
- Note the filing time and stamp what you read with it.
- Open the standalone statement of the Exide Industries Q2 results before any headline.
- Compare revenue with Rs 4,178 crore and Rs 5,305 crore.
- Check whether a profit number is standalone or consolidated.
- Compare standalone profit with Rs 221 crore and Rs 407.26 crore.
- Check the EBITDA margin against 9.4%.
- Check the notes for one-off items.
- Write your own plan before the price moves.
What are the risks around the Exide Industries Q2 results?
How to grade Exide Industries’s September-quarter numbers: a reading guide
Use the table to grade the Exide Industries Q2 results as a reading aid, not a forecast. The cut-offs are my illustration, built from the Q1 FY27 and Q2 FY26 marks.
Assumptions: standalone; Q2 FY26 revenue Rs 4,178 crore, EBITDA Rs 394.5 crore and profit Rs 221 crore; Q1 FY27 standalone profit Rs 407.26 crore is the strong mark.
| Mark | Stronger | In line | Weaker |
|---|---|---|---|
| Revenue growth on Q2 FY26 | Above 30% | 20% to 30% | Below 20% |
| EBITDA margin | Above 11.5% | 10% to 11.5% | Below 10% |
| EBITDA | Above Rs 600 crore | Rs 500 to 600 crore | Below Rs 500 crore |
| Standalone profit | Above Rs 400 crore | Rs 300 to 400 crore | Below Rs 300 crore |
| Growth in OEM and replacement | Above 25% | Double digits | Single digits |
Cite this table: PositionalCalls, “Exide Industries Q2 FY27 Reading Guide, as of 1 November 2026”.
Worked example: suppose standalone revenue is Rs 5,200 crore, EBITDA Rs 560 crore and profit Rs 340 crore. Revenue would be up +24.5% (5,200 divided by 4,178), EBITDA +42.0% on Rs 394.5 crore, the margin 10.8% and profit +53.8% on Rs 221 crore (my calculation). Revenue would read in line, the margin and EBITDA in line, and profit in line, with very large growth rates that come from the low base.
A strong reading describes the quarter only. It is not a signal to buy, sell or hold, and a weak one is not a signal either. Prices react to many things, including what the market already expected.
The guide to the Exide Industries Q2 results uses standalone figures throughout. If a headline quotes consolidated profit, compare it with the consolidated base and say so when you share the number. Mixing the two is a common error on results day, because the company reports both.
What do most people miss on Exide Industries results day?
- The base is unusually low. A 9.4% margin and a 26% profit fall last September.
- Growth will look huge. A flat Q1 would already be up 84% on Rs 221 crore.
- Two profit lines circulate. About Rs 221 crore and Rs 173.64 crore for the same quarter.
- One headline mixes bases. Rs 407 crore against Rs 320 crore, while standalone prior year was Rs 312.44 crore.
- The date is earlier than last year. 4 November against 14 November, so confirm it.
- The date is unconfirmed. Verify the Exide Industries Q2 results date before you plan around it.
Analyst’s note: how to think about this quarter
- What stands out (reasoning): the base was depressed by a one-time tax-cut pause, so the margin level says more than the growth rate.
- Easy to miss: consolidated profit carries the lithium-ion costs that standalone profit does not.
- What would change the view: an EBITDA margin below 10%, or OEM and replacement growth in single digits.
- Caution: one quarter does not fix a long-term value. This page gives no target or recommendation.
- Reader action: read the same-basis figures first and match each to the base table.
Bottom line
Known: Exide Industries is listed for 4 November 2026; the base is about Rs 221 crore standalone profit on Rs 4,178 crore revenue, and Q1 FY27 standalone profit was Rs 407.26 crore.
Not known yet: the confirmed date, the filing time, the actual figures and any consensus estimate.
Your move: use the decoder table and compare same-basis figures.
Next read: the Q2 results calendar, which lists the companies reporting next.
Part of the earnings coverage.
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- Filing alerts for Exide Industries and other large companies
- The profit figures explained
- The next company on the results calendar
Exide Industries Q2 results: frequently asked questions
When are the Exide Industries Q2 results?
Exide Industries is listed to report on Wednesday, 4 November 2026 in Kotak Neo’s weekly list posted on 30 October, which says dates follow announced board meetings and may change. That is a single, partial-list source, and last year’s results came on 14 November, so confirm on the BSE or NSE page. The filing time is not announced.
What was Exide Industries profit in Q2 FY26?
A PTI report carried by The Week gave consolidated net profit of Rs 173.64 crore, down 26%, on revenue of Rs 4,364.51 crore (down 1.9%). Stocktwits gave a figure of Rs 221 crore on revenue of Rs 4,178 crore, which looks like the standalone line (my inference).
What did Exide Industries report in Q1 FY27?
Free Press Journal reported profit of Rs 407 crore, up 27.1%, on revenue of Rs 5,305 crore, up 17.6%. Standalone profit was Rs 407.26 crore against Rs 312.44 crore, about 30% growth. Upstox gave consolidated revenue of Rs 5,528 crore, up 18%.
Why was the Exide Industries Q2 FY26 profit base low?
The GST rate on batteries fell from 28% to 18% from 22 September 2025, so channel partners delayed purchases, and the company cut production in August and September, according to Stocktwits and The Week. Standalone EBITDA margin fell to about 9.4% from 11.3%.
Why do Exide Industries profit figures differ across sources?
Standalone and consolidated figures both circulate. Q2 FY26 profit appears as Rs 173.64 crore (consolidated) and Rs 221 crore (standalone, my inference), and Q1 FY26 as Rs 312.44 crore (standalone) and Rs 320 crore (headline). Match each pair to one basis.
Did Exide Industries miss estimates last September?
Yes. Stocktwits reported a CNBC-TV18 poll estimate of Rs 319 crore profit, Rs 4,459 crore revenue and Rs 533 crore EBITDA, against actual figures of Rs 221 crore, Rs 4,178 crore and Rs 394.5 crore. No Q2 FY27 estimate was found for this page.
What do the Exide Industries segments show?
In Q1 FY27 Upstox reported auto OEM growth above 25% for a third straight quarter, replacement growth in double digits, inverters and solar above 20%, exports above 20%, and the first lithium-ion cell samples dispatched, with revenue expected in FY27.
Upstox reported a 52-week high of Rs 459.90 on 30 July 2026, up about 5.5% intraday, after the Q1 FY27 results. After Q2 FY26 results the stock closed at Rs 381.20, up 0.42%, per Stocktwits. Those are reactions to expectations, not forecasts.
Where can I read the Exide Industries filing?
Use the BSE corporate announcements page or the NSE corporate filings page and search for Exide Industries. Open the standalone and consolidated results and the press release. Ignore forwarded “result alert” images and messages promising sure-shot calls.
By when must Exide Industries publish its Q2 results?
SEBI’s listing regulations give listed companies 45 days after quarter-end for quarterly results. For the quarter ended 30 September 2026 that is 14 November 2026 (my calculation). Last year the company reported on 14 November 2025.
Sources
- BSE corporate announcements: where the Exide Industries filing appears.
- NSE corporate filings: financial results: the same filing on NSE.
- Kotak Neo: Q2 results this week, 30 October 2026.
- Free Press Journal: Exide Industries Q1 FY27, 30 July 2026.
- Upstox: Exide Industries shares hit 52-week high after Q1 FY27, 30 July 2026.
- The Week (PTI): Exide Industries Q2 FY26 net profit, 14 November 2025.
- Stocktwits: Exide Industries Q2 results miss estimates, 14 November 2025.
Disclosure: PositionalCalls.com is not a SEBI-registered research analyst or investment adviser. Investments in securities markets are subject to market risks. Read all related documents carefully before investing. Returns are never guaranteed. PositionalCalls is an independent research and education site founded by Shubham Chaudhary. Nothing here is a recommendation, target or investment advice. How I researched this: I checked the results date in one weekly list, took base figures from company results as reported by Stocktwits, The Week, Free Press Journal and Upstox, noted where sources differ, and marked every derived number as my calculation. Figures are as of Sunday, 1 November 2026, 4:50 PM IST.
Shubham Chaudhary is the founder of PositionalCalls, an independent Indian stock market research website. He writes company fundamentals, quarterly results analysis, IPO analysis and sector research for NSE and BSE listed companies, with a focus on banking stocks, insurance and long-term value investing. Every article is built from primary sources such as RBI, SEBI, NSE and BSE filings and company annual reports, and states its risks plainly in simple language for retail investors.
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