Exide Industries Ltd - 500086

Name of Company	Exide Industries Ltd
BSE Code	500086
NSE Code	EXIDEIND
ICICI Code
Established
My Take	Like
Headquarters	Kolkata
Promoters
Story	Automobile growth in India has been incredible. The growth may continue for some time as well – as more people buy vehicles for transportation and a spate of cheap automobiles expected to be introduced. (experts suggest 12% annual growth in automobile industry annually). Currently 2/3rd of the battery industry is supplied by the unorganized sector – this may come down going forward due to stricter pollution control rules, etc. Holds 50% in ING Vysya Life insurance company. Owns subsidiaries in Sri Lanka, Singapore and UK. Started by UK based company Chloride Electric storage in 1916, later bought out by Indian management. This year has been exceptional profit wise or NPM wise. Normally we can expect 8& NPM. This year we have around 14%.
Sector	Batteries
Sub-sector	Auto and industrial batteries
Website	http://www.exideindustries.com/
Positives	Supplier for Tata Nano car. Acquired smelters a couple of years back with the intention of backward integration (lead is major raw material). Setting up new manufacturing plants in Ahmednagar, Maharastra. Regular dividend payer(though the dividend is less). More than twice the size of Amara Raja batteries. Supplies to all major auto makers in India. 2100 Cr of reserves is good (55% of FY10 annual revenue). DII hold 17%, FII hold 14%. 46% promoter holding. No insider trading records.
Negatives
Peers	Amara Raja
News
Price @ blogged	142 (8-Aug-10)