India · Delayed Price · Currency is INR Amara Raja Energy & Mobility Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 revenue grew 4.2% YoY to INR 3,410 crore, with strong four-wheeler OEM and new energy business growth, but margins were pressured by higher raw material costs and a shift in product mix. BESS and lithium investments continue, with CapEx and margin recovery plans in place.
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Q2 revenue grew 6.5% YoY to INR 3,467 crore, led by strong OEM and new energy business growth. Margins were impacted by a one-time EPR provision, but gross margin improved sequentially. CapEx focus remains on new energy, with gigafactory production targeted for H1 2027.
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Q1 FY26 revenue grew 4% year-over-year to INR 3,401 crore, with strong domestic OEM and aftermarket growth offset by export declines. Margins were subdued at 11.5% due to higher costs, but improvement is expected as power and trading mix normalize. Major investments continue in new energy and gigafactory projects.
Fiscal Year 2025
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Q4 FY25 revenue grew 5% year-over-year to INR 3,060 crore, with strong domestic aftermarket and OEM growth offset by export and telecom softness. Margins declined due to higher material and power costs, but new manufacturing capacities and a 2% price hike are expected to support margin recovery. CapEx focus remains on new energy and recycling initiatives.
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Q3 FY25 revenue grew 7.5% year-over-year to INR 3,272 crores, led by strong automotive and industrial battery volumes, while telecom declined due to lithium transition. Margins were impacted by higher power and metal costs, but growth momentum and capacity expansions continue across segments.
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Revenue grew 10% year-over-year to INR 3,250 crore, led by strong aftermarket and export battery sales, though margins were diluted by higher trading revenue and new energy business costs. Tubular battery and recycling plants are set to boost margins, while lithium business investments continue.
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Revenue grew 13% year-over-year, with strong volume gains in both domestic and international automotive segments and robust new energy business growth. Operating margin improved, but input cost pressures and higher trading mix diluted sequential margins. Major CapEx and recycling initiatives are underway, with a debt-free position maintained.