February 3, 2019
Amara Raja Batteries Limited reports 2% growth in revenue for the quarter ended June 30, 2019
» Revenue of Rs. 1814.95 crores
» PAT of Rs. 140.91 crores
Tirupati, July 20, 2019: Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT) today reported a revenue of Rs 1814.95 crore in Q1 FY 20 (Rs 1778.67 crores) with a growth of (2%) and profit after tax (PAT) of Rs. 140.91 crores (Rs 113.03 crores). The Earnings Per Share (EPS) for Q1 FY 20 was at Rs. 8.25
For the quarter ended June 30, 2019
Rs. in crores
|June 30, 2019
|June 30, 2018
|Net Revenue from operations
|Profit After Tax
Automotive business showed healthy growth in both four wheeler & two wheeler category in the aftermarket segment. OEM sales witnessed a fall in line with degrowth in the new vehicle sales. Business in international markets continued its upward trend supported especially in the high potential countries of South East Asia & Middle East.
The industrial business witnessed a moderate growth in volumes. The telecom volumes remained subdued due to consolidation of the tower companies in the Telecom Market and the competitive pressures.
Commenting on the Q1 performance, Mr. Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited said, “The gap created due to lesser sales in OEM segment of the automotive business got compensated by growth in exports and aftermarket business supported by softer lead prices that helped in maintaining the operating performance. We will continue to pursue opportunities for strategic partnerships that will be complimentary to our vision and growth objectives.”
- Vijayanand, CEO, Amara Raja Batteries Limited commented, “The Industrial batteries demand is stable and the growth opportunities in solar and motive power batteries is encouraging.The Capacity expansion plans across product segments are in line with the growth forecasts. Expansion of our two wheeler capacity will help increasing our presence in the OEM segment.”
About Amara Raja Batteries Limited
Amara Raja Batteries Limited is the technology leader and one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.
In India, Amara Raja is the preferred supplier to major telecom service providers, Telecom equipment manufacturers, the UPS sector (OEM & Replacement), Indian Railways and to the Power, Oil & Gas, among other industry segments. Amara Raja’s industrial battery brands comprise PowerStack®, AmaronVolt® and Quanta®. The Company is a leading manufacturer of automotive batteries under the brands Amaron® and PowerzoneTM, which are distributed through a large pan-India sales & service retail network.
The Company supplies automotive batteries under OE relationships to Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors. The Company’s Industrial and Automotive Batteries are exported to countries in the Indian Ocean Rim.
Some of the statements in this news release that are not historical facts are forward looking statements. These forward looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate. These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward looking statements. These risks include, but are not limited to, the level of the market demand for our products, the highly competitive market for the types of the products that we offer, market condition that would cause our customers to reduce their spending for our products, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and otherwise not specifically mentioned herein but those that are common to industry.