November 2, 2019
Amara Raja Batteries Limited reports 9% growth in revenue for the Quarter ending December 31st 2018
» Revenue of Rs. 1,695 crores
» PAT of Rs. 131 crores
Hyderabad, 11th February, 2019: Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT) today reported revenue of Rs 1,695 crore in Q3 FY 19 (Rs 1,553 crores) with a growth of 9 % and profit after tax of Rs. 131 crores (Rs 134 crores). The Earnings Per Share (EPS) for Q3 was at Rs. 7.66.
For the quarter ended December 31st, 2018 (Rs. in crores)
|December 31, 2018
|Sept 30, 2017
|Net Revenue from operations
|Profit After Tax
The Automotive battery business has achieved strong volume growth across its business segments.
During the quarter, OEM segment was relatively subdued in line with overall production of vehicles in the country. Brand AMARON continued its remarkable performance in both the four wheeler and two wheeler segments, expanding their reach. The preference for the brand was clearly visible in the served exports markets, delivering exceptional performance. Business in HUPS segment was in line with seasonal variations.
The Industrial Battery Business saw moderate growth in the current quarter over last year same quarter. The market shares in all key segments continued to improve. The demand uncertainty for batteries in Telecom segment is continuing while other power back up applications show a steady demand.
Commenting on the Q3 performance, Mr. Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited said, “The Automotive business continues to perform better and we are critically evaluating the evolving trends in both the automotive and storage battery sectors and are building capabilities to take advantage of opportunities emerging from time to time”
- Vijayanand, CEO, Amara Raja Batteries Limited commented, “Volume Growth in the automotive segment and steady demand in the industrial sector along with softened lead prices have helped in better margins on a sequential quarterly basis. Our capacity expansion projects are proceeding as per expected timelines and we are better prepared to meet the future demand across the product segments”.
About Amara Raja Batteries Limited
A company with 26% equity each from the Galla Family and Johnson Controls Inc., USA, 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®, AmaronVoltTM 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.
Johnson Controls is a global diversified technology and multi industrial leader serving a wide range of customers in more than 150 countries. Our 120,000 employees create intelligent buildings, efficient energy solutions, integrated infrastructure and next generation transportation systems that work seamlessly together to deliver on the promise of smart cities and communities. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. We are committed to helping our customers win and creating greater value for all of our stakeholders through strategic focus on our buildings and energy growth platforms.
Johnson Controls Power Solutions
Johnson Controls Power Solutions is a world leader working in partnership with our customers to meet increasing market demands for energy storage on a global scale. We create the most advanced battery technologies for virtually every type of vehicle on the planet. Our employees develop, manufacture and distribute the smartest portfolio of lead-acid and lithium-ion technologies in the world. These technologies deliver uniquely sustainable, next-generation performance. We partner with our customers at every link in the supply chain, contributing to the communities we serve and the planet we share.
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.