Amara Raja Batteries reports 45% jump in profit before tax over previous year in Q4 of FY23
Hyderabad/Tirupati/ Chennai, May 2023: Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT), today, reported a profit before tax of Rs. 947.57 cr for the financial year 2022-23. The Revenue for FY23 stood at Rs.10,385.91 cr as compared to Rs.8,695.82 cr 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 cr and profit before tax (PBT) of Rs.191.52 cr. 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 the face value of Rs.1/- each for the financial year 2022-23.
Amara Raja Batteries Ltd recorded impressive revenue growth in the last FY, on the back of strong volume growth in both automotive and industrial applications across all customer segments.
- Increase in market share for both OEM and Aftermarket segments in automotive batteries.
- Strong growth in the Telecom and Data Center segment on the basis of new digital platforms for enhanced customer support.
- The Lithium-Ion battery packs and chargers business saw 3X growth in the fiscal.
Mr. Jayadev Galla, Chairman & Managing Director, Amara Raja Batteries Limited, said, “This is a testament to our customer’s 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.”
Mr. 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 2W and now we are at the top even in 4W 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.”
Mr. 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.”