Amara Raja Batteries reports 45% jump in profit before tax over previous year in Q4 of FY23; Board recommends a final dividend of Rs.3.20 per share

Sub : Press/Media Release

Dear Sir / Madam,

Please find enclosed herewith a copy of the press/media release being issued by the Company for your information and record.

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Thanking You
For Amara Raja Batteries Limited
Vikas Sabharwal
Company Secretary
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Hyderabad/Tirupati, 23 May 2023: Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT), today, reported profit before tax of Rs. 947.57 cr for the financial year 2022-23. The Revenue for FY23 stood at Rs.10,385.91 cr as compared to Rs.8,695.82 cr during FY22. The Earnings per Share (EPS) for FY23 was at Rs.40.65.

The Company reported for the Q4 of FY23 a revenue of Rs.2,429.21 cr and profit before tax (PBT) of Rs.191.52 cr.

For the quarter and year ended March 31, 2023.

Particulars Quarter ended Year ended
March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022
Net Revenue from operations 2,429.21 2,180.70 10,385.91 8,695.82
Profit before Tax
(after exceptional items)
191.52 132.49 947.57 689.80

Amara Raja Batteries Ltd recorded an impressive revenue growth in the last FY, on the back of strong volume growth in both automotive and industrial applications across all customer segments.

  • Increase in market share for both OEM and Aftermarket segments in automotive batteries.
  • Strong growth in the Telecom and Data Center segment on the basis of new digital platforms for enhanced customer support.
  • The Lithium-Ion battery packs and chargers business saw 3X growth in the fiscal.

Mr. Jayadev Galla, Chairman & Managing Director, Amara Raja Batteries Limited, said, “This is a testament to our customers’ trust in the quality and reliability of our products. As we embark on the next phase of our Energy & Mobility strategy, our continued commitment to R&D that delivers superior products in lead-acid as well as lithium will be crucial.”

Mr. Harshavardhana Gourineni, Executive Director – Automotive & Industrial Batteries, mentioned, “We observed robust and sustained growth in both industrial and automotive applications. We’ve always been the market leaders in 2W and now we are at the top even in 4W segment. We are currently in the process of launching a new brand of batteries in the domestic market and expanding our international operations as well.”

Mr. Vikramadithya Gourineni, Executive Director – New Energy Business, stated, “With the commencement of work on the ambitious Amara Raja Giga Corridor project we are making rapid progress towards our goal of indigenous manufacture of Li-ion cells. Meanwhile, our battery packs and chargers continue to steadily prove themselves with a wide array of customers.”

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.

Safe Harbor

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.

Media Contact:

Brijesh Menon
Head Corporate Communications