Exide Pakistan Limited
By PSX Investors Zone · Updated October 23, 2026
Exide Pakistan Limited (PSX: EXIDE) is an established Pakistani manufacturer of batteries, chemicals and acid, with additional offerings in solar energy solutions. Incorporated in 1953, the company serves automotive, industrial, telecommunications, transport and backup-power markets. Its products include automotive batteries, tubular batteries, maintenance-free batteries and industrial power solutions. The company's financial performance is influenced by vehicle sales, replacement-battery demand, production costs, raw-material prices, competition, working-capital requirements and borrowing costs. In FY2026, net sales declined to approximately Rs 19.64 billion and profit after tax fell to Rs 431.68 million. In the quarter ended June 30, 2026, sales and earnings were also lower than in the corresponding quarter of the previous year. EXIDE was included as Shariah-compliant in the PSX-KMI All Share Islamic Index screening announced in May 2026, based on financial information as of December 31, 2025. Investors should verify its status against subsequent official screening results. **Important:** PSX displays a Risk Warning Alert for EXIDE, citing continuous violations of specified exchange regulations and possible trading suspension or delisting. This regulatory warning must be considered separately from Shariah compliance and financial performance.
Company Overview
Exide Pakistan Limited (PSX: EXIDE) is a Pakistani manufacturer of batteries, chemicals and acid. The company was incorporated in 1953 in association with Chloride Group PLC of the United Kingdom and was listed on the Karachi Stock Exchange in 1982.
Its manufacturing facilities are located in S.I.T.E., Karachi, and Hub, Balochistan, while its chemical and acid operations include facilities at S.I.T.E. and Port Qasim, Karachi.
Exide serves several markets, including automotive, industrial power, transportation, telecommunications and backup-power applications. Its product portfolio includes conventional and maintenance-free batteries, tubular batteries and solutions for inverter and solar-related applications.
Official sources: Exide Pakistan — Company Introduction | PSX Company Profile
Business Activities and Products
Exide's business covers three principal areas.
Automotive batteries: Batteries for cars, motorcycles and other vehicles. Demand depends on vehicle production, the size and age of the vehicle fleet, replacement cycles and competition from other manufacturers.
Industrial and backup-power batteries: Products for industrial equipment, telecommunications, transport and backup-power applications. Demand can be influenced by infrastructure investment, electricity reliability and replacement requirements.
Chemicals, acid and solar solutions: The company manufactures chemicals and acid and supplies solar energy solutions. Its sulphuric acid manufacturing plant at Port Qasim has an installed capacity of 50 metric tons per day, according to the company's official introduction.
Exide has also reported importing lithium-ion battery units while exploring the possibility of localizing production as market demand develops.
Financial Performance
Annual results
The following figures are reported on the PSX company page. Amounts are in Pakistani rupees.
| Financial metric | FY2026 | FY2025 |
|---|---|---|
| Net sales | Rs 19.64 billion | Rs 23.90 billion |
| Profit after tax | Rs 431.68 million | Rs 614.44 million |
| Earnings per share | Rs 55.57 | Rs 79.09 |
| Gross profit margin | 13.92% | 16.19% |
| Net profit margin | 2.20% | 2.57% |
Source: PSX EXIDE financial information.
In FY2026, sales declined by approximately 17.8% year over year, while profit after tax decreased by approximately 29.7%. The fall in gross profit and operating profit indicates that lower revenue and margin pressure affected earnings. Although the company remained profitable, its results highlight the importance of monitoring demand, production efficiency, financing costs and working capital.
Latest quarterly results
For the quarter ended June 30, 2026, Exide reported the following unconsolidated results in its first-quarter report for FY2027:
| Financial metric | Q1 FY2027 | Q1 FY2026 |
|---|---|---|
| Net sales | Rs 5.284 billion | Rs 7.049 billion |
| Gross profit | Rs 772 million | Rs 1.033 billion |
| Operating profit | Rs 387 million | Rs 595 million |
| Profit before tax | Rs 193.47 million | Rs 366.12 million |
| Profit after tax | Rs 127.42 million | Rs 223.34 million |
| Earnings per share | Rs 16.40 | Rs 28.75 |
Source: Official first-quarter report on PSX.
The company's chairman's review attributed the approximately 25% decrease in sales to production constraints associated with supply-chain disruptions caused by the Gulf war. Gross profit and operating profit also declined, although finance costs were lower because of reduced borrowings.
Management highlighted competition, excess production capacity and subdued consumer purchasing power as challenges for the domestic battery industry. Product quality, productivity, cost control and after-sales service were identified as priorities.
These results demonstrate why investors should evaluate profit margins and cash flows alongside revenue. A recovery in vehicle sales does not necessarily translate directly into higher earnings if production costs, competitive pressure or financing expenses remain elevated.
Shariah Compliance Status
Exide Pakistan Limited was classified as Shariah-compliant in the PSX-KMI All Share Islamic Index recomposition announced on May 29, 2026. The screening was based on financial information as of December 31, 2025, and the recomposed index became effective on June 5, 2026.
The official screening notice reported the following ratios:
| Screening measure | Reported ratio |
|---|---|
| Interest-bearing debt / total assets | 13.18% |
| Non-compliant investments / total assets | 0.00% |
| Non-compliant income / total revenue | 0.01% |
| Illiquid assets / total assets | 56.46% |
| Net liquid assets per share | Rs (231.61) |
Official source: PSX-KMI All Share Islamic Index screening notice.
These ratios relate to the specified screening date and should not be treated as a permanent certification. PSX announced a revised interest-bearing debt-to-assets threshold, reducing it from 37% to 33%, with implementation from the November 2026 recomposition based on June 2026 annual or half-yearly accounts.
Investors should verify EXIDE's status in the latest official screening list before relying on its historical classification.
Important PSX Risk Warning Alert
The official PSX company page currently displays a Risk Warning Alert stating that EXIDE is in continuous violation of specified clauses, 5.11.1 or 5.11.2, and carries a risk of trading suspension or delisting from the Exchange.
This is a material regulatory issue and should be reviewed before making an investment decision. The alert does not, by itself, establish that the shares have already been suspended or that the company has been delisted. Investors should consult the latest PSX notices to establish the precise issue, applicable requirements and whether the company has subsequently addressed it.
Official reference: PSX EXIDE company page.
Shariah-screening status and exchange regulatory status are separate. A compliant screening result does not cancel an outstanding PSX warning.
Dividends and Corporate Actions
For the financial year ended March 31, 2026, the board recommended a final cash dividend of Rs 5 per share, compared with Rs 10 per share for FY2025. PSX records show that the final dividend was credited on August 7, 2026.
The lower dividend reflects the importance of assessing earnings and cash generation rather than assuming that previous distributions will continue. Investors should check official PSX announcements for any subsequent dividends, book closures or other corporate actions.
Source: EXIDE announcements and payouts on PSX.
Key Factors Investors Should Monitor
Automotive and replacement demand: Vehicle production, new registrations and replacement cycles influence battery sales.
Raw-material and production costs: Changes in input costs, energy expenses and production efficiency can affect gross margins.
Competition: Domestic manufacturers, imported batteries and new battery technologies can influence pricing and market share.
Working capital and borrowing: Inventory, receivables, cash balances and short-term borrowing requirements are important to the company's financial health.
Solar and lithium-ion opportunities: Expansion into solar-related products and lithium-ion batteries may offer opportunities, but commercial success depends on execution, pricing and customer demand.
Regulatory standing: The PSX Risk Warning Alert requires close monitoring. Investors should confirm the latest official status rather than relying on historical financial results alone.
Shariah screening: The company's published screening result is based on December 2025 financial information. Its status should be verified following subsequent official recompositions.
Frequently Asked Questions
What is the PSX symbol of Exide Pakistan Limited?
Its Pakistan Stock Exchange ticker is EXIDE.
What does Exide Pakistan Limited manufacture?
The company manufactures batteries, chemicals and acid, and supplies solar energy solutions. Its products serve automotive, industrial, transport, telecommunications and backup-power markets.
Is Exide Pakistan Limited Shariah-compliant?
EXIDE was classified as Shariah-compliant in the PSX-KMI All Share Islamic Index recomposition announced in May 2026, based on accounts as of December 31, 2025. Investors should check the latest official screening result.
How did Exide perform in FY2026?
The company reported sales of approximately Rs 19.64 billion, profit after tax of Rs 431.68 million and EPS of Rs 55.57. These were lower than the corresponding FY2025 figures.
Did Exide declare a dividend for FY2026?
The board recommended a final cash dividend of Rs 5 per share, and PSX records show the dividend was credited on August 7, 2026.
What does the PSX Risk Warning Alert mean?
PSX warns that continuous violations of specified exchange regulations could expose EXIDE to trading suspension or delisting. Investors should consult the latest official disclosures to determine the current regulatory position.
Conclusion
Exide Pakistan Limited is an established participant in Pakistan's battery and related chemicals industry. Its business is connected to automotive demand, industrial power requirements, replacement-battery sales and developing solar-related opportunities.
The decline in FY2026 sales and earnings, weaker first-quarter FY2027 results and the outstanding PSX Risk Warning Alert are important considerations for fundamental analysis. Investors should examine audited financial statements, cash flows, borrowings, margins, official exchange notices and the latest Shariah-screening outcome together.
This company profile is for educational and informational purposes and is not a recommendation to buy or sell shares.
This profile is for educational purposes and is not a recommendation to buy or sell any security.