Shares of Exide Industries were trading at ₹447.70 on Tuesday morning, up 0.67 per cent or ₹3 from the previous close of ₹444.70, after the battery maker reported a strong Q1 FY27 performance. The stock touched an intraday high of ₹457.45 and a low of ₹441.60, with over 20.70 lakh shares changing hands valued at ₹92.75 crore by 10.42 am. Sell pressure was dominant with 76.96 per cent of orders on the sell side. The stock’s total market cap stood at ₹38,054.50 crore.The results showed Q1 FY27 revenue at ₹5,305 crore, up 17.6 per cent year-on-year. EBITDA rose 19.5 per cent to ₹655 crore with margins expanding to 12.4 per cent from 12.2 per cent. PAT jumped 27.1 per cent to ₹407 crore at a 7.7 per cent margin.Analyst reactions were mixed but broadly constructive. Citi maintained a Buy with a raised target of ₹510, citing earnings beats across revenue and margins, double-digit volume growth, and resilient profitability despite forex headwinds. It raised its core P/E multiple to 20x from 17x and retained ₹150 per share value for the lithium-ion plant. Nomura also retained Buy with a target of ₹492, flagging stronger OEM growth and the commencement of the lithium plant as future upside, while noting risks around Chinese raw material dependency and yield ramp-up.Kotak Securities was the outlier, maintaining a Sell with a marginally raised target of ₹325, citing pressure on profitability and return ratios, high capital expenditure, and the B2B and commoditized nature of the lithium business with dependence on a technology partner.On the lithium front, the company’s subsidiary Exide Energy Solutions has started sample deliveries from its 3GWh cylindrical NMC line and begun supplying LFP prismatic samples for three-wheeler and telecom applications, with revenue expected to commence in FY27. Total investment in the gigafactory stands at ₹4,902 crore.The stock has gained 23.25 per cent year-to-date and trades at a P/E of 40.36.Published on August 4, 2026