Amara Raja Batteries Limited reports a record quarterly results amidst demand surge across business segments
Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT) today reported a revenue of Rs 1935.82 crore in Q2 FY21 (Rs 1695.31 crores) and profit Before tax (PBT) of Rs.270.96 crores (Rs. 231.83 crores). The Earnings Per Share (EPS) for Q2 FY 21 was at Rs. 11.79.
For the quarter ended September 30, 2020
s. in crores
September 30, 2020
September 30, 2019
Net Revenue from operations
Profit Before Tax
Amara Raja Batteries reported record quarterly results during the July-September quarter even as the economy picked up momentum enabled by the progressively relaxed unlock norms announced by government. The company’s performance during the quarter was driven by the demand rebound across all key sectors of the business. The robust operational guidelines to deal with pandemic risk have helped ramp up in manufacturing capacity utilization and distribution operations.
In the automotive segment, both the OEM and aftermarket demand saw a sharp raise. Vehicle production saw a month-on-month rebound to refill the dealer inventories and gear up for the demand during upcoming festive season. Personal mobility preferences also saw increased purchase of 2W and entry level passenger vehicles. The aftermarket saw strong pent up demand sustaining post initial lock down periods and with easing of logistics, channel sales and distribution activities were streamlined to meet the demand.
Exports of automotive batteries and industrial batteries also saw an upsurge as markets across the geographies opened up.
Mr. Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited said, “The resurfacing of demand from all the key segments of our business helped us perform strongly during the quarter. The revamped planning systems and digital enablement of business processes across various functions are helping the organisation to stay agile and respond to the fast changing business environment. While the economic activity has picked up in the country, the uncertainty of COVID impact continues to keep us on the watch. We are tracking the overall economic trends carefully both in domestic context as well as global context and are geared up to deal with both the opportunities and challenges in equal measure.”