A perspective on EV & its impact & future of LAD batteries was best given by Amara Raja in thr recent investor call. Your EV queries will find some probable answers there.
U’ve covered the valuation part well, nothing more to add on that. Both ARBL & Exide are at reasonable valuations & Exide is a bit undervalued only post the deal. The returns here will be made on the basis of one’s reasonable estimate of how mch growth will be thr for LAB alongside LIB. Both cos. are currently pricing zero future growth.
Distribution of cash - This is first time in a decade I’ve seen the co. divesting. The previous decade went in buying this business, investing in PE & public equity albeit on a smaller scale. The capital allocation going fwd vl be the key.
On a side note - They might pay sm special dividend from the proceeds next yr as it vl be the 75th anniversary… 