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Amara Raja Batteries Ltd reports 2% growth in revenue during Q1 FY20

Posted On: 2019-07-20 21:24:36

Amara Raja Batteries Limited, India's leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT) today reported a revenue of Rs 1814.95 crore in Q1 FY 20 (Rs 1778.67 crores) with a growth of (2%) and profit after tax (PAT) of Rs. 140.91 crores (Rs 113.03 crores). The Earnings Per Share (EPS) for Q1 FY 20 was at Rs. 8.25 for the quarter ended June 30, 2019.

Automotive business showed healthy growth in both four wheeler & two wheeler category in the aftermarket segment. OEM sales witnessed a fall in line with degrowth in the new vehicle sales. Business in international markets continued its upward trend supported especially in the high potential countries of South East Asia & Middle East.

The industrial business witnessed a moderate growth in volumes. The telecom volumes remained subdued due to consolidation of the tower companies in the Telecom Market and the competitive pressures.

Commenting on the Q1 performance, Mr. Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited said, "The gap created due to lesser sales in OEM segment of the automotive business got compensated by growth in exports and aftermarket business supported by softer lead prices that helped in maintaining the operating performance. We will continue to pursue opportunities for strategic partnerships that will be complimentary to our vision and growth objectives."

S. Vijayanand, CEO, Amara Raja Batteries Limited commented, "The Industrial batteries demand is stable and the growth opportunities in solar and motive power batteries is encouraging. The Capacity expansion plans across product segments are in line with the growth forecasts. Expansion of our two wheeler capacity will help increasing our presence in the OEM segment."

Shares of AMARA RAJA BATTERIES LTD. was last trading in BSE at Rs.610.45 as compared to the previous close of Rs. 639.85. The total number of shares traded during the day was 60862 in over 1719 trades.

The stock hit an intraday high of Rs. 637.5 and intraday low of 605.1. The net turnover during the day was Rs. 37244309.


Source: Equity Bulls

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