Amara Raja - Strong Growth Across Verticals: Anand Rathi
Amaron Batteries on display (Photo: BloombergQuint)  

Amara Raja - Strong Growth Across Verticals: Anand Rathi


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.

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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Anand Rathi Amara Raja Batteries Company Update.pdf


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