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Amara Raja Batteries bags order to supply lithium-ion batteries to Ola Electric
Amara Raja Batteries, a leading manufacturer of lead-acid batteries in India, has bagged an order to supply lithium-ion batteries to Ola Electric, an electric vehicle manufacturer. The order is valued at Rs 1,000 crore and will be executed over a period of three years.
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Amara Raja Energy & Mobility to invest Rs 1,000 crore in green hydrogen project
Amara Raja Energy & Mobility, a subsidiary of Amara Raja Group, plans to invest Rs 1,000 crore in a green hydrogen project in Andhra Pradesh. The project will produce green hydrogen from renewable energy sources and will be used to power electric vehicles.
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Amara Raja Energy & Mobility launches new electric two-wheeler brand
Amara Raja Energy & Mobility has launched a new electric two-wheeler brand called 'Everve'. The brand will offer a range of electric scooters and motorcycles, and will be sold through a network of dealerships across India.
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Amara Raja ties up with Exicom Tele for lithium-ion research and development
Amara Raja Group, a leading provider of power solutions and a major manufacturer of automotive batteries in India has partnered with Exicom Tele-Systems, a leading power solutions provider in India, to establish a Centre of Excellence (CoE) in low-carbon energy storage technologies.
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Amara Raja ties up with Exicom Tele for lithium-ion research and development
Amara Raja Group, a leading provider of power solutions and a major manufacturer of automotive batteries in India has partnered with Exicom Tele-Systems, a leading power solutions provider in India, to establish a Centre of Excellence (CoE) in low-carbon energy storage technologies.
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Amara Raja Q1 net profit falls 14% to Rs 217 crore
Amara Raja Batteries Ltd reported a 14% year-on-year decline in consolidated net profit to Rs 216.7 crore for the first quarter ended June 30, hit by higher expenses.
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Amara Raja Batteries Ltd declares final dividend of Rs 2.10 per equity share
The Board of Directors of Amara Raja Batteries Ltd has recommended a final dividend of Rs. 2.10 per equity share (i.e. 210%) on the face value of Rs. 1/- each amounting to Rs. 108.08 crores for the financial year ended March 31, 2023.
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Amara Raja Batteries Ltd Q4 net profit falls 13% to Rs 225 crore
Amara Raja Batteries Ltd reported a 13% year-on-year decline in consolidated net profit to Rs 225.5 crore for the fourth quarter ended March 31, 2023, due to higher expenses.
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Amara Raja Batteries Limited Q3 FY23 Result Meet – Key Highlights
Amara Raja Batteries Limited, one of India's leading manufacturers of lead-acid batteries for automotive and industrial applications, held its Q3 FY23 result meet on Friday, January 27, 2023, to discuss the company's financial performance and operational highlights for the quarter and nine months ended December 31, 2022. Here are the key highlights from the meeting:
Financial Performance:
Revenue from operations increased by 28% year-on-year (YoY) to Rs. 3,151.4 crore in Q3 FY23, primarily driven by higher lead prices and volume growth in both automotive and industrial segments.
Profit before interest and tax (PBIT) grew by 20% YoY to Rs. 485.9 crore in Q3 FY23, supported by favorable product mix and operational efficiencies.
Net profit after tax (PAT) increased by 16% YoY to Rs. 336.9 crore in Q3 FY23, resulting in a net profit margin of 10.7%.
Operational Highlights:
The company's automotive battery volume grew by 12% YoY in Q3 FY23, driven by strong demand from the two-wheeler and passenger vehicle segments.
Industrial battery volume increased by 8% YoY in Q3 FY23, supported by growth in the telecom, data center, and renewable energy sectors.
Amara Raja commissioned a new manufacturing facility in Amaravati, Andhra Pradesh, which will enhance its production capacity by 25% for automotive batteries.
The company continued to invest in research and development (R&D), with a focus on developing advanced battery technologies and solutions for the electric vehicle (EV) market.
Outlook:
Amara Raja remains optimistic about the long-term growth prospects of the Indian battery industry, driven by increasing vehicle electrification, growing demand for renewable energy storage solutions, and government initiatives promoting the adoption of EVs.
The company expects to continue investing in capacity expansion, product development, and R&D to meet the growing demand for its products and solutions.
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Amara Raja Batteries partners with TVS Motor Company to power its electric vehicles
Amara Raja Batteries Limited (ARBL), one of India's leading manufacturers of lead-acid batteries, has partnered with TVS Motor Company, a leading manufacturer of two-wheelers and three-wheelers, to supply advanced battery solutions for its electric vehicles (EVs).
Under the partnership, Amara Raja will provide TVS Motor Company with high-performance lithium-ion batteries that are specifically designed to meet the unique requirements of electric two-wheelers and three-wheelers. These batteries are engineered to deliver optimal power, range, and durability, ensuring a superior riding experience for customers.
Commenting on the partnership, Mr. Vikas Jain, CEO, Amara Raja Batteries, said, "We are delighted to partner with TVS Motor Company, a renowned player in the automotive industry. This collaboration is a testament to our commitment to providing innovative and sustainable battery solutions for the rapidly growing EV market."
Mr. Venu Srinivasan, Chairman and Managing Director, TVS Motor Company, said, "We are excited to partner with Amara Raja Batteries, a leader in battery technology. Their expertise in developing high-performance batteries will enable us to offer our customers superior electric vehicles that meet their expectations for range, performance, and durability."
This partnership is a significant milestone for Amara Raja Batteries as it marks the company's entry into the growing electric two-wheeler and three-wheeler segment. The company is confident that its advanced battery solutions will contribute to the success of TVS Motor Company's electric vehicles and accelerate the adoption of EVs in India.
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Barometers trade with minor losses; Consumer durables rally
At 12:30 IST, the barometer index, the S&P BSE Sensex was down 185.2 points or 0.24% to 77,261.85. The Nifty 50 index lost 34.45 points or 0.15% to 23,532.55. The Nifty clocked an all-time high of 23,667.10 in early trade.
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Stocks that will see action today—June 21, 2024
Buzzing Stocks Today, Stocks that will see action today: June 21, 2024. Aster DM, RateGain, BLS International, JM Financial, NACL Industries, GIC Housing Finance, Amara Raja, Clean Science, Voltas, RPSG Ventures, ONGC
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Share Market Highlights 21 June 2024: Sensex and Nifty end winning streak, decline amid global market pressures
Sensex, Nifty updates, Stock Market Highlights on 21 June 2024 – The equity benchmark indices Sensex and Nifty halted their record-breaking rally as they succumbed to selling pressure fueled by a bearish trend in global markets. The BSE Sensex declined by 269…
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Andhra-based stocks extend gains up to 62% in 4 sessions, riding high on TDP win
Shares of Andhra Pradesh-based firms continued surging despite muted headline indices. The rally, sparked by Chandrababu Naidu's election win, saw companies like KCP surge up to 40% in four sessions. Andhra Cements led gains with 10%, followed by Nelcast at 5…
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TDP-linked stocks soar up to 32% in 2 days after strong election performance
Heritage Foods and Amara Raja Energy stocks surged up to 32% following TDP's success in local elections, with ties to both companies through leadership connections. Heritage rose 10% to Rs 601, and Amara Raja climbed 9% to Rs 1,325 in Thursday's trading sessi…
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Kingmaker! These TDP-related stocks soar up to 20% after strong assembly, Lok Sabha show
Heritage Foods soared 20%, while Amara Raja soared nearly 13% as both companies have TDP connections. Amara Raja's Managing Director Jay Dev Galla was a former MP from the party, while Heritage Foods was promoted by Nara Lokesh, son of party chief Chandra Bab…
