Amar Raja Batteries Limited (NSE: AMARAJABAT): Q3 FY23 Results Out; Total Income Rises 11% YoY

Amar Raja Batteries Limited (NSE:AMARAJABAT) is an Indian manufacturer of lead-acid batteries, based in Hyderabad, Telangana. The company was founded in 1985 and is now one of the largest manufacturers of batteries in India. ARBL’s product range includes a wide variety of batteries for automotive, industrial, and inverter applications, as well as specialized batteries for solar and telecom applications. The company’s products are sold under the brand name “Amaron”, and it is one of the leading battery brands in India.

Amar Raja Batteries has several state-of-the-art manufacturing facilities located across India, which are equipped with advanced technology and equipment to produce high-quality and reliable batteries. The company is committed to sustainability, and has implemented several initiatives to minimize its impact on the environment, including recycling and waste management programs.

The company’s Q3 FY23 results showed a strong performance, with a 52.7% surge in consolidated net profit to Rs 221.88 crore, driven by a 11.5% increase in net sales to Rs 2,637.76 crore compared to the same period last year. On a standalone basis, the net profit increased by 54% to Rs 222.81 crore and the revenue increased by 11.5% to Rs 2,637.24 crore.

The growth was attributed to healthy volume growth in the automotive sector, including both OEM and aftermarket segments, and the strong growth in industrial battery volumes, particularly from the telecom segment. There was also considerable volume growth in the lithium-ion battery packs and chargers for the mobility segment.

The company’s chairman and managing director, Jayadev Galla, attributed the financial outperformance to the customers’ trust in the company’s product quality and reliability. He also mentioned that the recently announced Gigafactory plans would further strengthen the company’s position in the energy and mobility space.

Overall, Amara Raja Batteries’ Q3 FY23 results indicate a strong financial performance, with healthy growth in both revenue and profit. The company’s focus on innovation and expanding into new segments has helped it maintain its position as a leading manufacturer of energy storage products in India.