Amara Raja Q4 Review - In Line Operating Performance; Slower Price Hikes To Hurt Margin: Motilal Oswal
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Motilal Oswal Report
Amara Raja Batteries Ltd.’s Q4 FY21 operating performance was in line with our estimates as strong revenue growth led operating leverage diluted the impact of higher raw material cost.
Weak demand visibility and lead price inflation will impact near term performance.
Its strategy to meet the upcoming challenge from new chemistries would be an important driver for the stock. We have left our FY22E/FY23E earnings per share estimate largely unchanged.
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