Exide Industries is engaged in the design, manufacture and sale of automotive batteries, industrial batteries and submarine batteries. Co. supplies batteries to almost all the car and two-wheeler manufacturers in the country. Co. designs and manufactures its industrial batteries in a range from 2.5 Ah to 20,600 Ah in conventional flooded and Valve Regulated Lead Acid (VRLA) design. Industrial batteries are of three types, Conventional lead acid batteries, Valve regulated lead acid batteries and Nickel-Cadmium batteries. Co. manufactures high-end submarine batteries (Type 1, 2 & 3). Two to three submarine batteries are manufactured a year to meet the country's defence requirements.
theScreener is the market leader for independent valuations of financial securities, equities, sectors and markets, and new funds. theScreener's ratings, analyses are used by leading banks, asset managers and financial portals. Approximately 10,000 workstations benefit from theScreener's services, with over millions of customer accounts actively analysed.
EXIDE: Revenue beat; margin impacted by higher RM cost (EXID IN, Mkt Cap USD2b, CMP INR179, TP INR215, 20% Upside, Buy) Captive smelters dilute higher lead prices EXID’s topline performance was driven by growth in both Auto and Industrial segments in 1QFY22, while margin was restricted due to commodity cost inflation. We expect a cyclical recovery in demand from the OEM segment in FY22, along with strength in the Aftermarket segment, with a continuous shift from the unorganized to the organized segment. We largely maintain our earnings estimate. We maintain our Buy rating, with a TP o...
Exide: Below est.; Weaker revenues offset RM cost benefits (EXID IN, Mkt Cap USD2.2b, CMP INR188, TP INR222, 18% Upside, Buy) Weak auto OEM/telecom sector hurts performance EXID’s 3QFY20 operating performance was weak as benefit of lead prices was more than offset by the operating deleverage. As expected, the aftermarket continued to witness strong growth, ratifying our view of value migration from the unorganized to the organized sector. We downgrade our EPS estimates by ~4% for FY21, but maintain our Buy rating with TP of ~INR222 (~18x Dec’22E S/A EPS). Op. deleverage dilutes RM...
SASOL (ZA), a company active in the Integrated Oil & Gas industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date September 14, 2021, the closing price was ZAR 235.20 and its potential was estimated at ZAR 289.67.
WARNER MUSIC GROUP CORP. (US), a company active in the Broadcasting & Entertainment industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 4 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Positive. As of the analysis date September 14, 2021, the closing price was USD 41.18 and its potential was estimated at USD 43.24.
The independent financial analyst theScreener just lowered the general evaluation of UNITED STATES STEEL (US), active in the Steel industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date September 14, 2021, the closing price was USD 24.45 and its target price was estimated at USD 15.90.
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