Amara Raja Batteries - Shifting Technology Landscape Remains Reality: ICICI Direct 
Amaron Batteries on display (Photo: BloombergQuint)  

Amara Raja Batteries - Shifting Technology Landscape Remains Reality: ICICI Direct 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Amara Raja Batteries Ltd. reported steady Q3 FY21 results. Net sales were up 12.1% YoY to Rs 1,960 crore.

According to management commentary, growth was achieved on the back of broad-based strength across automotive channels, telecom and commercial uninterruptible power supply segments.

Margins were at 15.6% (down 195 basis points QoQ) amid 82 bps gross margin contraction and increase in other expenses on a percentage of sales basis.

The company declared interim dividend of Rs 5/share for FY21E and announced Rs 500 crore capex towards -

  1. Rs 220 crore for 50 megawatt solar power plant and
  2. Rs 280 crore for greenfield lead recycling unit.

Click on the attachment to read the full report:

ICICI Direct Amara Raja Company Update Feb21.pdf

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