Nomura bullish on Exide Industries; sees up to 18% potential upside after expected Q2 show
The brokerage said the companys EBITDA margin had been largely in line with estimates, benefiting from lower raw material prices or good sales at 9.5% (-260bp q-q), similar to peers.The company reportedly plans a capex of Rs 6,000 crore for a 12 GWh Li-ion plant in 2 phases. It plans to supply to all vehicle segments and has multiple chemistries and cell types.