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Amara Raja
Batteries Limited, India’s leading Industrial and Automotive Battery major
(BSE: 500008
& NSE Code:
AMARAJABAT), today, reported profit before tax of ? 302.57 Crores for Q3 of FY 23
which is a
growth of 9% over Q2 of FY23.
The Earnings per
Share (EPS) for Q3 of FY 23 was at ?
13.04.
Standalone
financial performance highlights:
Particulars |
Quarter Ended (Rs. in crores) |
|
|
December
31, 2022 |
December
31, 2021 |
Net
Revenue from operations |
2,637.24 |
2,365.07 |
Profit
Before Tax |
302.57 |
197.05 |
Revenue growth
over the previous year was driven by healthy volume growth in the automotive
sector in both the OEM and Aftermarket segments. Industrial battery volumes
also witnessed strong growth, especially from the Telecom segment. Considerable
volume growth is witnessed from lithium-ion battery packs and chargers for the
mobility segment.
Harshavardhana
Gourineni, Executive Director, Automotive & Industrial Batteries says
“Our
sustained growth
story emboldens us to continue building our product range, cater to newer
segments, and aggressively strengthen our International operations.”
"We are
moving quickly in our EV related business with the Gigafactory and E-hub
development work while our chargers and packs continue to see good
traction" says Executive Director, New Energy Business,
Vikramadithya Gourineni.
Speaking about
the results, Mr. Jayadev Galla, Chairman & Managing
Director of the Company,added
“Even in the face of global uncertainties and fears of recession in the
domestic market we have managed to outperform financially. It is a testament to
the customer’s trust in our product’s quality and reliability. Our recently
announced Gigafactory plans will further strengthen our hold in the energy and mobility
space.”
About Amara Raja
Batteries Limited
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.
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.