Amara Raja Batteries reports 99.61% jump in profit before tax in Q1 of FY22; Founder-Chairman Dr. Ramachandra N Galla retires today after 36 years of service
Mumbai : Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT), today, reported profit before tax of Rs.167.04 Crores (Rs 83.68 crores) for Q1 of FY 2021-22. The Revenue for Q1 of FY 22 stood at Rs 1,885.86 crores as compared to Rs.1,151.04 crores during Q1 of FY 21. The Earnings per Share (EPS) for Q1 of FY 22 was at Rs 7.26.
For the quarter ended June 30, 2021
Rs. in Crores
|June 30, 2021||June 30, 2020|
|Net Revenue from operations||1,885.86||1,151.04|
|Profit Before Tax||167.04||83.68|
Even as the current quarter was impacted by lockdowns due to pandemic, the aftermarket demand across product segments in both automotive and industrial segments remained strong. The Automotive Business revenue grew on the back of a very strong growth in Exports and OEMs compared to last year. In the industrial business both Telecom and UPS applications have registered strong YoY growth.
Mr. Jayadev Galla, Vice Chairman & Managing Director and CEO, Amara Raja Batteries Limited, said
“While the uncertainties due to second wave of Covid and the resultant lockdowns are creating unpredictability in the product off take, we are focused on ensuring the product availability across all market segments by calibrating manufacturing operations and supply chain dynamically.”
Mr Jayadev Galla further explained “Even as we prepare ourselves for the future opportunities in both the energy storage and e-mobility applications, we remain focused on maximising the value of the lead acid business by selective investments in expanding product portfolio and the geographies we serve.”
Meanwhile, August 14 holds special significance for Amara Raja Batteries Ltd, as the Founder-Chairman, Dr. Ramachandra N Galla is retiring today after 36 years of peerless service.
While handing over the baton, Dr. Ramachandra N Galla, Founder-Chairman, said: “As I prepare to demit charge and transfer all organizational responsibilities to our Vice Chairman & MD-CEO Jayadev Galla, I want to reassure all shareholders and other stakeholders that the Company is in absolutely safe and in efficient hands. I also wish to place on record my gratitude to all stakeholders who have stood by the Company through thick and thin, particularly during the challenging moments of the ongoing pandemic. Needless to mention, moving forward, I would continue to be available in case any guidance or counsel is required from my end.”
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.