>EXIDE INDUSTRIES (INDIA INFOLINE)

■ Revenues increase by 28.9% yoy on back of strong volume growth in the automobile and industrial segments

■ OPM jumps 434bps yoy and NPM nearly doubles on yoy basis owing to sharp fall in raw material cost which was on back of higher consumption of recycled lead.

■ However, on sequential basis company registered a fall of 280bps and 147 bps in NPM and OPm respectively.

■ We maintain BUY with a revised target price of Rs 137.

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