Amara Raja - Strong Growth Across Verticals: Anand Rathi
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Anand Rathi Report
For the quarter, Amara Raja Batteries Ltd. posted 60% growth in inverters sequentially, and 5% industrial growth in volumes; other segments were flat.
YoY, four wheeler original equipment manufacturers grew 20%, two-wheeler OEMs 100% and aftermarket 25%, while the inverter business doubled.
In Q4 FY21, gross margins contracted sequentially 131 basis points due to higher lead costs plus higher proportion of traded inverter goods.
For FY22, we expect revenues to grow across verticals primarily led by two-wheeler and four wheeler OEMs, home inverters and the industrials business.
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