Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT), today, reported profit before tax of ₹ 176.96 Crores for Q1 of FY 23 which is a growth of 33% over Q4 of FY22.The Earnings per Share (EPS) for Q1 of FY 23 was at ₹ 7.70.
Standalone financial performance highlights:
| Particulars | Quarter Ended (Rs. in crores) | |
|---|---|---|
| June 30, 2022 | June 30, 2021 | |
| 13″Net Revenue from operations | 2,620.00 | 1,885.86 |
| Profit Before Tax | 176.96 | 167.04 |
The company witnessed robust demand in the automotive sector from the aftermarket as well as 4-Wheeler and 2-Wheeler OEM segments. Industrial battery volumes have shown a healthy growth, especially in the UPS and telecom segments.
Mr. Jayadev Galla, Chairman & Managing Director of the Company, said “It is notable that even in the face of global uncertainties we have managed not only to outperform financially but also to launch new marketing and distribution initiatives to further strengthen our brands. We also continue to pursue value accretive growth opportunities in the Energy and Mobility space.”
Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries adds “The company is seeing some continued pressure to the margins due to increase in power and other input costs, however programs are in place to recover these costs during the balance of the year, including our captive solar generation.”
“Our immediate focus continues to be on the expansion of our pack and charger business. We also continue to make bets on lithium cell technology and will be soon starting the implementation of our Customer Qualification Plant” says Executive Director, New Energy Business, Vikramadithya Gourineni.
Amara Raja Batteries Limited is an Energy and Mobility enterprise and one of the largest manufacturers of energy storage products for both industrial and automotive applications in the Indian 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.