HDFC Securities: Amara Raja Batteries - Towards A ‘Charged’ Future
Amara Raja Batteries Ltd. (image: Company website).

HDFC Securities: Amara Raja Batteries - Towards A ‘Charged’ Future

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

HDFC Securities Report

Currently, Amara Raja Batteries Ltd. has a approximately 20% market share in the 5 billion U.S. dollar lead-acid battery (LAB) segment.

We expect it to gain further share as revenues are forecasted to grow in double digits over the next three to five years (versus mid-single-digit for the industry).

While Amara Raja would benefit from the shift towards the organised segment in the near term, we believe that the advent of new technologies such as lithium-ion will change industry dynamics; though the pace of adoption is expected to be very gradual.

Amara Raja’s future technology partnerships (after the exit of Johnson Controls) and its ability to foray into alternative battery chemistries will determine its growth opportunities in the long term.

Click on the attachment to read the full report:

HDFC Securities Amara Raja Initiating Coverage.pdf


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