Fakiha Tariq

Battery maker Exide Pakistan Limited posted the highest five-year gross sales of Rs15 billion in the last three quarters (April-December) of the calendar year 2022, registering a 43% increase over Rs10 billion revenue accrued in the corresponding period of 2021, reports WealthPK. It is pertinent to mention here that Exide Pakistan Limited’s fiscal year runs from April to March.

During this period, the company’s gross profit went up by 68% to Rs2 billion from Rs1.2 billion reported in the same period of the previous year.Exide Pakistan pocketed a net profit of Rs323 million in 9MCY22 compared to a net loss of Rs6 million in 9MCY21. Thus, the gross profit and net profit ratios came out to be 13% and 2.07%, respectively, in 9MCY22. Exide posted the earnings per share value of Rs41.64 in the last three quarters of CY22.

The firm is listed on the Pakistan Stock Exchange under the symbol of EXIDE in the automobile parts and accessories sector. With a market capitalisation of Rs1.7 billion, EXIDE is the sixth-largest firm of the sector. Established as a private firm in 1953, EXIDE got listed on the PSX in 1982. Facilitated by a wide distribution network, EXIDE is engaged in manufacturing and selling of lithium-ion batteries for automotive, industrial and household usage. EXIDE posted Rs8 billion revenue in CY20 and Rs6.7 billion in CY19. An increasing trend in the nine-monthly sales is shown in the graph below.

Exide Pakistan Limited – Quarterly Review – 9MCY22

In the first quarter (April 22-June 22), EIXDE posted gross and net profits of Rs525 million and Rs50 million, respectively, on the sales of Rs5.4 billion. Thus, the gross profit and net profit ratios were calculated to be 10% and 0.9%, respectively. EXIDE posted earnings per share value of Rs6.47 during this quarter.

In the second quarter (July 22-Sept 22), EXIDE earned Rs794 million gross profit over sales of Rs4.7 billion. The net profit stood at Rs171 million, translating into the gross profit and net profit ratios of 17% and 3.6%, respectively. EXIDE reported the earnings per share value of Rs22.03 during this quarter.

In the third quarter (October-December), EXIDE posted gross and net profits of Rs714 million and Rs102 million, respectively, on sales of Rs5.4 billion, thus earning gross profit and net profit margins of 13% and 1.9%, respectively. The company posted an earnings per share value of Rs13.13.

Credit: Independent News Pakistan-WealthPk