Exide Pakistan profit drops 30% in FY26

June 29, 2026 (MLN): Exide Pakistan Limited (PSX: EXIDE) recorded a 30% decline in its net profit for the year ended March 31, 2026, with profit after taxation falling to Rs431.55m from Rs614.37m in the corresponding period last year.

Showing the softer bottom-line, the company's earnings per share (EPS) contracted to Rs55.55 from Rs79.08 in FY25.

The top-line came under significant pressure, with net sales declining 18% year-on-year to Rs19.64bn from Rs23.90bn in the prior year.

Cost of sales fell in tandem, dropping 16% to Rs16.90bn, though the decline was proportionally smaller than the revenue contraction, causing gross profit to shrink by 29% to Rs2.73bn from Rs3.87bn.

On the expenditure side, selling and distribution expenses declined 25% to Rs1.27bn, while administration and general expenses remained broadly stable at Rs271.26m. Other operating charges were reduced by 41% to Rs54.93m.

Other income held virtually flat at Rs3.52m. These movements combined to bring operating profit down 36% to Rs1.14bn from Rs1.77bn last year.

Below the operating line, finance cost remained largely contained, dipping marginally by less than 1% to Rs726.64m.

However, the introduction of revenue-based levies worth Rs106.46m absent in FY25 created an additional drag, pulling profit before income tax down 71% to Rs303.69m from Rs1.04bn.

The development that cushioned the bottom-line was a swing in the income tax line. Against a net tax charge of Rs426.82m in FY25, the company recorded a net tax credit of Rs127.86m in FY26, which partially absorbed the pre-tax erosion and limited the overall profit decline to 30%.

The Board of Directors has declared a final cash dividend of Rs5 per share (50%) for the year ended March 31, 2026.

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