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News Heading : EXIDE POSTS 9% RISE IN Q4 NET

The country’s leading storage battery maker Exide Industries reported an 8.6% rise in net profit at Rs 68.20 crore for the fourth quarter ended March31, 2009, over the previous corresponding period(Rs 62.82 crore). Higher net profit was on a net sales of Rs. 798.34 crore (Rs. 791.34 crore). Gross sales topped Rs 4,233.35 crore (Rs.3,605.97 crore) reflecting a 17% growth. For the financial year 2008-09, the Kolkata based company’s net profit was at Rs.284.39 crore, reflecting a 13.6% rise over Rs.250.33 crore. Annual net sales stood at Rs 3,393 crore(Rs 2,845 crore), a rise of 19.3%. The Exide board approved the financial result on Monday & recommended a final dividend of 20%. Which means shareholders will get Rs 0.20 per share carrying a face value Re 1. The company had earlier announced a 405 interim which takes total dividend payout during 2008-09 to 60%. According to company officials, Exide’s topline and bottomline growth can be attributed to its diversified business model. Besides its focus on the automotive industry segment, nearly 35% of its business and profit came from industrial range of batteries like telecom, power, traction, inverter, UPS etc. In a press statement, Exide managing director & chief executive officer TV Ramanathan said:”We are happy to record year on year growth virtually in all financial parameters despite this being a year that was particularly difficult for a number of sectors in which the company operates. We weathered the storm through enhanced focus on production efficiencies, better inventory management – both at the raw material and finished goods level-and serious cost cutting across all functions”. During 2008-09, Exide spent Rs 160 crore on capital expenditure. The company said its reliance on bank borrowings had reduced and consequently the debt:equity ratio at the end of March 2009 was 0.26:1. The company,however,observed that its original equipment business automotive sector didn’t perform well, especially after September last year on account of the industrial slowdown. Yet, a significant volume growth in the replacement market has made up as a whole.

• Exide maintains steady growth

• Mr. T.V. Ramanathan India's most valuable CEO

• EXIDE POSTS 9% RISE IN Q4 NET