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Exide Industries Margin Trend — Quarter by Quarter

Exide Industries's EBITDA margin moved from 11.3% in Q2 FY25 to 11.7% in Q4 FY26 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY2611.7%+50 bps
Q3 FY2611.0%—
Q2 FY2511.3%-50 bps

What management said about ebitda margin

G

Q4 FY26 · Price hikes to offset commodity inflation

Management has taken price increases of 5-6% in aftermarket across tranches (Jan, Mar, Apr) and will continue to pass on non-lead cost inflation to customers.

G

Q3 FY26 · EBITDA margin improvement of 100-150 bps next year

Management indicated potential EBITDA margin expansion of 100-150 bps in FY27 from current levels, assuming stable commodity prices.

G

Q2 FY26 · EBITDA margin corridor of 12-13% in coming quarters

Management expects margins to return to 12-13% range as volume growth resumes, assuming stable lead prices.

G

Q2 FY25 · Near-term EBITDA margin target of 13%

Management aims to achieve ~13% EBITDA margin in the near term, driven by cost excellence and favorable mix.