Amara Raja reports 45% growth in revenue in Q4 FY23

The Board of Directors recommended a final dividend of Rs 3.20 per equity share on a face value of Rs 1 each.

amara raja

Amara Raja Batteries has reported a profit before tax of Rs 947.57 crore for the financial year 2022-23. The revenue for FY23 stood at Rs 10,385.91 crore as compared to Rs 8,695.82 crore during FY22. The Earnings per Share (EPS) for FY23 was at Rs 40.65.

The Company reported for the Q4 of FY23 revenue of Rs 2,429.21 crore and profit before tax (PBT) of Rs 191.52 crore for the quarter and year ended March 31, 2023. The Board of Directors recommended a final dividend of Rs 3.20 per equity share (representing 320%) on a face value of Rs 1 each for the financial year 2022-23.

The company said that the primary reasons behind their growth was the increase in market share for both OEM and aftermarket segments in automotive batteries, strong growth in the telecom segment, and the three-fold growth in the Lithium-Ion battery packs and chargers business.

Jayadev Galla, Chairman & Managing Director, Amara Raja Batteries Limited, said, “This is a testament to our customers’ trust in the quality and reliability of our products. As we embark on the next phase of our Energy & Mobility strategy, our continued commitment to R&D that delivers superior products in lead-acid as well as lithium will be crucial.”

Harshavardhana Gourineni, Executive Director – Automotive & Industrial Batteries, mentioned, “We observed robust and sustained growth in both industrial and automotive applications. We’ve always been the market leader in two-wheelers and now we are at the top even in the four-wheeler segment. We are currently in the process of launching a new brand of batteries in the domestic market and expanding our international operations as well.”

Vikramadithya Gourineni, Executive Director – New Energy Business, stated, “With the commencement of work on the ambitious Amara Raja Giga Corridor project we are making rapid progress towards our goal of indigenous manufacture of Li-ion cells. Meanwhile, our battery packs and chargers continue to steadily prove themselves with a wide array of customers.”

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First published on: 24-05-2023 at 10:56 IST