The company announced the results during trading hours today, 20 January 2012.
Meanwhile, the BSE Sensex was up 4.35 points, or 0.03% to 16,648.09.
On BSE, 11.83 lakh shares were traded in the counter as against average daily volume of 2.58 lakh shares in the past one quarter.
The stock hit a high of Rs 130.70 and a low of Rs 121.50 so far during the day. The stock had hit a 52-week low of Rs 98.75 on 22 December 2011. The stock had hit a 52-week high of Rs 174.65 on 20 July 2011.
The stock had outperformed the market over the past one month till 19 January 2012, rising 8.77% compared with Sensex's 8.22% return. The scrip had, however, underperformed the market over the past one quarter, declining 8.45% as against Sensex's 2.58% fall.
India's largest lead acid storage battery maker has an equity capital of Rs 85 crore. Face value per share is Re 1.
Exide Industries' net profit fell 16.2% to Rs 104.30 crore on 19.04% growth in total income to Rs 1250.22 crore in Q3 December 2011 over Q3 December 2010.
Commenting on the results, Mr T V Ramanathan, Managing Director and CEO, Exide Industries said, The financial results for the third quarter of the current financial year 2011-12 mark a significant improvement in the company's fortunes vis-à-vis the second quarter. While sales improved six percent, operating margin improved by 560 basis points as compared to the second quarter of the current financial year. Consequently, the net profit for the quarter is 104% higher sequentially even after absorbing an exchange loss of Rs 10.36 crore due to currency depreciation.
While sales volume of SBU-Automotive remains subdued in both OEM and replacement segments, the volume growth in two-wheeler batteries was nearly 20% during the quarter under review, Exide said. In case of SBU-Industrial, despite significant de-growth in telecom batteries, the overall volume growth for the quarter was nearly 13% due to increased demand for inverter and VRLA batteries, the company said in a statement. After a sharp surge in operating margin on sequential basis in Q3 December 2011, Exide expects margins to improve further in Q4 March 2012, as the company expects lower volatility of rupee against the dollar.
Exide Industries said that capital expenditure for the current year is expected to be Rs 270 crore.
Exide Industries also announced during market hours today, 20 January 2012, that it has entered into technical collaboration and assistance agreements with East Penn Manufacturing Co Inc, USA. Under these arrangements, East Penn will provide technical assistance and support for the manufacture of automotive, motive power, standby, telecom, UPS, solar and traction batteries for Exide's various plants in India. This technical assistance will include a wide range of activities including the enhancement of processes for manufacturing, designs, quality control, and procurement, Exide said in a statement.
East Penn has also agreed to provide technical assistance and support to the two captive smelters of Exide Industries located near Pune and Bangalore. East Penn will assist in the implementation of measures to continuously improve on the various local environment and health parameters as well as global standards, Exide said in a statement.
East Penn Manufacturing Co Inc USA is a leading manufacturer of high quality lead-acid battery and accessory products for the automotive, telecommunications, UPS, commercial, marine, and motive power markets.
Exide Industries is a leading manufacturer of of lead acid batteries for automotive, telecom, traction, UPS, naval, and motive power markets.