Exide Industries Q3 Review - Strong Replacement, OEM To Drive Growth: Anand Rathi

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Anand Rathi Report

Exide Industries Ltd.’s Q3 saw strong growth across verticals. Our channel checks suggest that the company has lost market share in two-wheeler original equipment manufacturers and in the replacement market too.

However, we expect the company to recover in four-wheeler OEMs as markets recover, and in the industrial business in the following quarters.

Thus, we expect revenues to be flat in FY21 and grow 26% in FY22.

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