Exide Industries Ltd. — Earnings Release 2020

Jun 5, 2020

Press Release

EXIDE REPORTS LOWER TOP LINE FOR THE FOURTH QUARTER OF 2019-20

Kolkata, June 05, 2020: Exide Industries Limited, on Friday reported Net Turnover for the quarter ended March 31 , 2020 of Rs. 2,055.09 crores as compared to Net Turnover Rs. 2,598.66 crores during the quarter ended March 31 , 2019. Profit After Tax for the same quarter ended March 31 , 2020, was lower at Rs. 168 crores respectively as against Profit After Tax of Rs. 210.68 crores for corresponding quarter ended March 31 , 2019.

For the year end ed March 31 , 2020, the net turnover was Rs.9,856.66 crnres as compared to Rs. 10,599 .J 1 ,: rorr'.'-i" in thr'.'- prr'.'-vi,:1m y1'.'-i'II" . Thr'.'- Pri:,fit ;,ft1'.'- r T ilY w;, R fl?i=; i:; 1 nr.rn in th r yr11 r rnr1rr1 March 31, 2020 compared to Profit After Tax of Rs. 844.05 crores in the previous year, inclusive of 'exceptional items' reported in both the years.

Mr G Chatterjee, MD & CEO said that the Automotive Sector is facing a lot of challenges due to Regulatory changes, Technology shifts and Demand uncertainty, due to which there was a distinct slowdown in Auto OE segment. On top of it, the year-end Sales across all segments of the Company were severely impacted after the complete lockdown was imposed in the country as a result of COVID-19.

The Company is focussing on Cost Control and Technology upgradation as strategies to improve the bottom-line.

G CHATTERJEE Managing Director & Chief Executive Officer Exide Industries Limited