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EXIDEIND Consensus Forecast

No. of reports in last year
7
No. of analysts
3
Average Consensus Forecast
214.57
Consensus Potential
28.12%

EXIDEIND Price Target Potential

BrokerageTargetPotential
Prabhudas Lilladher17914.50%
Geojit Financial Services20926.77%
Dolat Capital24236.76%

EXIDEIND Targets in FrontPage Forums

2 Users have submitted 2 trade ideas of Rs. 154,749.3 for EXIDEIND
100% Bullish
0% Bearish
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EXIDEIND Ratings

Long term EXIDEIND rating by FrontPage users
4.2/5 (5 Ratings)

7 EXIDEIND share price target reports by brokerages below. See what is analyst's view on EXIDEIND share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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EXIDEIND Share Price Target

EXIDEIND Share Price Target - Broker Reports - 2020

6-Jun-20
Price @ Call: 172.37
Target: 179
ACCUMULATE
EXID’s 4QFY20 results were in-line at EBITDA/PAT while revenues stayed low at Rs20.6bn (PLe Rs22.5b, ~20.9% YoY). The weak volumes in auto OEM was partially offset by continued growth in auto replacement and other industrial segment. We believe stronger growth in replacement segment (~65% of industry) post ease of lockdown coupled with recovery of industrial battery demand will offset subdued volumes from auto OEMs. Consequently, favorable mix along with benign RM should help ~120bp margin expansion in FY21 to 15%. We increase FY21/22 EPS by 7%/4.5% to factor in for better mix and decline in RM. We have also increased the multiple by a notch to 14x (from the earlier 13x) and maintain ‘Accumulate’ with a price target of Rs179 (Rs167) based on 14x Mar-20 standalone EPS plus Rs25 value of insurance business
... Read more
5-Feb-20
Price @ Call: 188.45
Target: 214
ACCUMULATE

EXIDEIND Share Price Target - Broker Reports - 2019

7-Nov-19
Price @ Call: 190.34
Target: 209
ACCUMULATE
6-Nov-19
Price @ Call: 188.46
Target: 218
ACCUMULATE
EXID’s 2QFY20 revenues were in-line at Rs26.1b (-4% YoY and -6% QoQ). The weak volumes in auto OEM and telecom segment was offset by continued growth in replacement, UPS, Solar and other industrial segment. Gross margins expanded 70bp QoQ (310bp YoY) at 36.2% (PLe 33.7%) led by soft RM and favorable product mix. However, this was partially offset by higher other expense at 15.5% (PLe 14.3%, +80bp YoY). Better operating performance and lower tax rate at 15.6% (PLe 32.5%) drive adjusted PAT growth by 30.8% YoY at Rs2.4bn (PLe Rs1.7bn). We increase FY20/21 EPS by14.3%/6% to factor in for lower RM and tax rate. We maintain ‘Accumulate’ with a price target of Rs218 (earlier Rs208) based on 17x Sep’21E standalone EPS plus value of insurance business vertical).
... Read more
2-Aug-19
Price @ Call: 180.81
Target: 242
BUY
We expect Exide to benefit from: 1) further improvement in the replacement demand, given healthy primary sales in the past three years; 2) a market share gain from unorganized players, after GST implementation; 3) an uptick in the nascent e-rickshaws /solar battery segments; 4) the initiative to strengthen distribution network by introducing the sub-distributor model; and 5) the decline in lead prices (20% YoY), which will further raise margin. We expect a 21% YoY/ EPS CAGR over FY19-21E, driven by a 10% revenue growth (driven by replacement demand) and 120bps margin expansion (due to weak lead prices and measures to cut costs. We lower our multiple to 17x and maintain Buy, with SOTP-based TP of ` 242 (17x FY21E EPS + 1.5x Inv (` 30) for the insurance).
... Read more
5-Aug-19
Price @ Call: 180.15
Target: 209
ACCUMULATE
We interacted with EXID’s management on the side lines of AGM. The management elaborated how EXID would like to play EV landscape (through CV fleet segment, 2W and other industrial applications) and its preparedness (setting up 3 assembly lines of 250mw each for each of above segments) at an investment of INR2b (of which INR1b will get invested by Mar-20). Of the three, its 1st battery pack assembly line is expected to operational by the 3QFY20 while other two will be ready by Mar-20. On the lead acid front, EXID expects while automotive replacement demand would continue to grow 8- 10% in FY20-21, OEM demand will be under pressure in-line with current slowdown. However, industrial segment would continue grow at double-digit rate in FY20/21. We maintain ‘Accumulate’ with a price target of Rs209 (17xMar’21E standalone EPS plus value of insurance business value.
... Read more
9-Jul-19
Price @ Call: 199.2
Target: 231
ACCUMULATE
We believe that healthy growth momentum in auto replacement, industrial and exports segments would help contain weak OEM demand. We maintain “Accumulate” with a price target ofRs231, based on 19xMar’21E standalone EPS plus Rs30 for value of investments. The stock is currently trading at 19.3x FY20E and 18.9x FY21E standalone EPS.
... Read more
2-May-19
Price @ Call: 212.23
Target: 277
BUY
We expect a 18% EPS CAGR over FY19-21E, primarily led by a 13% growth in revenue (+7% volume, 6% in ASP) and 20bps margin expansion, which is much higher than peers. However, this is discounted in the valuations (25x FY21E PE) at current levels. We recommend Sell, with TP ` 456 (based on 22x of FY21E earnings + value of TVS Credit Services at Rs 35/share)
... Read more
2-May-19
Price @ Call: 213.9
Target: 200
REDUCE
Exide has a healthy balance sheet with surplus cash on its books and controlled working capital cycle (~60 days). This coupled with asset turnover of ~3x and stable EBITDA margins of ~14% results in robust ~18% RoCE. With replacement market aiding volume growth, we expect sales & PAT to grow at a CAGR of 6.3% & 5.5%, respectively, in FY19-21E. The company, however, trades at rich valuations amid technological disruption in the automobile battery space and muted growth prospects. Therefore, we downgrade the stock to REDUCE. We value it on SOTP basis at Rs 200, valuing the battery business at Rs 167 i.e. 15x P/E on FY21E EPS of | 11.1 and assigning Rs 33 to its stake in insurance business & smelting operations.
... Read more
27-Mar-19
Price @ Call: 225
Target: 262
BUY
Going forward, company’s Cost Control measures and Technology up gradation strategies would help to improve the bottom-line. Also, tie up for batteries having lithium-ion cell tech- nology at its plant is expected to become operational by mid-2020 would add to improve company’s performance and lower the raw material cost to some extent. As, electric vehicles to be the next leg for growth combined with 2W growth expected to remain strong in the years to come due to increase in consumption & rural income. We remain positive for the sector and Exide industries to maintain its share in the market. However, continued escalation in lead prices remains a major concern. Adding to that, muted auto sales numbers and competition pressures are also pulling back the margins Estimating the share price of the company as per P/E valuation
P/E of FY20 E at 23x , EPS (Est.) at `11.23, the estimated share price for next 1 year tenure turns around to be Rs 262. We recommend to BUY this script.
... Read more
8-Feb-19
Price @ Call: 213.12
Target: 259
ACCUMULATE
11-Feb-19
Price @ Call: 211.3
Target: 253.9
BUY
6-Feb-19
Price @ Call: 220.2
Target: 275
BUY
5-Feb-19
Price @ Call: 223.1
Target: 235
HOLD
5-Feb-19
Price @ Call: 223.1
Target: 280
BUY
5-Feb-19
Price @ Call: 223.1
Target: 238
ACCUMULATE
4-Feb-19
Price @ Call: 226.55
Target: 248
HOLD

EXIDEIND Share Price Target - Broker Reports - 2018

13-Dec-18
Price @ Call: 261.25
Target: 276
ACCUMULATE
13-Nov-18
Price @ Call: 248.83
Target: 285
BUY
9-Nov-18
Price @ Call: 256.7
Target: 285
BUY
6-Nov-18
Price @ Call: 254.24
Target: 304
BUY
6-Nov-18
Price @ Call: 253.18
Target: 268
ACCUMULATE
29-Oct-18
Price @ Call: 254.04
Target: 304
BUY
14-Aug-18
Price @ Call: 291.89
Target: 319
BUY
3-Aug-18
Price @ Call: 272.63
Target: 318
ACCUMULATE
3-Aug-18
Price @ Call: 271.1
Target: 314
BUY
3-Aug-18
Price @ Call: 271.1
Target: 318
BUY
2-Aug-18
Price @ Call: 270.18
Target: 300
BUY
2-Aug-18
Price @ Call: 270.4
Target: 265
SELL
3-Jul-18
Price @ Call: 257.55
Target: 320
BUY
19-Jun-18
Price @ Call: 251.8
Target: 322
BUY
8-May-18
Price @ Call: 264.47
Target: 300
BUY
8-May-18
Price @ Call: 264.47
Target: 298
BUY
8-May-18
Price @ Call: 262.15
Target: 281
ACCUMULATE
8-May-18
Price @ Call: 262.15
Target: 280
BUY
8-May-18
Price @ Call: 262.15
Target: 288
BUY
8-May-18
Price @ Call: 262.15
Target: 276
HOLD
8-May-18
Price @ Call: 257.52
Target: 301
BUY
1-Feb-18
Price @ Call: 223.8
Target: 284
BUY
1-Feb-18
Price @ Call: 223.8
Target: 239
ACCUMULATE
1-Feb-18
Price @ Call: 223.8
Target: 268
BUY

EXIDEIND Share Price Target - Broker Reports - 2017

27-Oct-17
Price @ Call: 206.45
Target: 260
BUY
26-Oct-17
Price @ Call: 209
Target: 254
BUY
17-Oct-17
Price @ Call: 204.85
Target: 234
BUY
7-Oct-17
Price @ Call: 206.18
Target: 266
BUY
1-Aug-17
Price @ Call: 217
Target: 295
BUY
27-Jul-17
Price @ Call: 215
Target: 262
BUY
27-Jul-17
Price @ Call: 215
Target: 270
BUY
4-May-17
Price @ Call: 236
Target: 274
BUY
9-May-17
Price @ Call: 236
Target: 248
HOLD
9-May-17
Price @ Call: 239
Target: 294
BUY
5-May-17
Price @ Call: 237
Target: 266
BUY
5-May-17
Price @ Call: 238
Target: 270
BUY
27-Jan-17
Price @ Call: 195
Target: 223
BUY

EXIDEIND Share Price Target - Broker Reports - 2016

23-Dec-16
Price @ Call: 171.45
Target: 165
SELL
2-Nov-16
Price @ Call: 203
Target: 294
BUY
28-Oct-16
Price @ Call: 191
Target: 220
BUY
20-Oct-16
Price @ Call: 198
Target: 240
BUY
23-Sep-16
Price @ Call: 193
Target: 294
BUY
27-Sep-16
Price @ Call: 191
Target: 235
BUY
9-Aug-16
Price @ Call: 170.95
Target: 204
BUY
22-Jul-16
Price @ Call: 181
Target: 202
BUY
20-Jul-16
Price @ Call: 177.15
Target: 205
BUY
7-Jun-16
Price @ Call: 162.26
Target: 174
BUY
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  • EXIDEIND Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3158.9
    Upside Target 2157.4
    Upside Target 1155.35
    Pivot153.85
    Downside Target 1151.8
    Downside Target 2150.3
    Downside Target 3148.25
  • EXIDEIND Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3167.63
    Upside Target 2161.77
    Upside Target 1157.53
    Pivot151.67
    Downside Target 1147.43
    Downside Target 2141.57
    Downside Target 3137.33
  • EXIDEIND Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3197.13
    Upside Target 2186.07
    Upside Target 1167.13
    Pivot156.07
    Downside Target 1137.13
    Downside Target 2126.07
    Downside Target 3107.13
  • EXIDEIND Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3157.4
    Upside Target 2156.04
    Upside Target 1155.21
    Pivot153.85
    Downside Target 1152.49
    Downside Target 2151.66
    Downside Target 3150.3
  • EXIDEIND Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3161.77
    Upside Target 2157.91
    Upside Target 1155.52
    Pivot151.67
    Downside Target 1147.81
    Downside Target 2145.42
    Downside Target 3141.57
  • EXIDEIND Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3186.07
    Upside Target 2174.61
    Upside Target 1167.53
    Pivot156.07
    Downside Target 1144.61
    Downside Target 2137.53
    Downside Target 3126.07
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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