|Sept 30, 2018
|Sept 30, 2017
|Net Revenue from operations
|Profit After Tax
The Board of the Directors of the Company, which met today, approved the unaudited financial results for the quarter and half year ended September 30, 2018 and declared an amount of Rs. 2.00/- per equity share (representing 200%) on face value of Re. 1/- each as interim dividend for the financial year 2018-19
The Automotive battery business has achieved strong volume growth primarily driven by growth in exports and original equipment segment. During the quarter, demand for batteries in the motor cycle segment has been uniquely encouraging. Brand AMARON continues to perform exceptionally well in the four wheeler and two wheeler segment, with wider market reach and dynamic product portfolio management. Buoyed by the vibrant growth in the overall automobile industry, the Automotive battery business registered noticeable increase in market share in the current quarter.
The Industrial battery business saw robust double digit growth across segments in terms of volume and market share. The Telecom industry continues to be under financial stress resulting in demand uncertainty for batteries.
Board of Directors today approved a total Capital investment of Rs 540 Cr for the deployment of advanced stamped grid technology which will enable offering high performance batteries to meet our customers’ present and future needs. This investment is an important mile stone in the process of development of advanced lead acid batteries.”
Commenting on the Q2 performance, Mr. Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited said, “The Indian automotive sector is experiencing robust performance and we are buoyant about the continued growth prospects. We are carefully watching the global and domestic macroeconomic factors to aggressively pursue opportunities in domestic as well as international markets. We continue to invest in the brand, technology and manufacturing capacities in tandem with our long term growth objectives.”
- Vijayanand, CEO, Amara Raja Batteries Limited commented, “Both the automotive and industrial volume growth during the current quarter has been encouraging and is supported by significant growth in export volumes. While lead prices have softened in the recent months, rupee depreciation has put pressure on input costs. We are prioritizing on improving operational efficiencies, cost reduction and technology upgradation. All our capacity expansion programs are on track”.
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.