Tirupati, May 23 2021 || News Desk
Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major, on Saturday reported 45 per cent jump in profit before tax(PBT) to Rs 258.79 crore for the quarter ended March 31,2021 against the corresponding quarter in previous year ( Rs 178.28 crore).
Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT), today, reported profit before tax of Rs 873.33 crores (Rs 840.68 crores) for the financial year 2020-21. The Revenue for FY 21 stood at Rs 7,149.68 crores as compared to Rs. 6,839.46 crores during FY 20. The Earnings per Share (EPS) for FY 21 was at Rs 37.87
The Company reported for the Q4 of FY 21 a revenue of Rs 2,102.70 (Rs 1,581.39 crores) and profit before tax (PBT) of Rs.258.79 crores (Rs. 178.28 crores).
For the quarter and year ended March 31, 2021
Rs. in crores
|Particulars||Quarter ended||Year ended|
|March 31, 2021||March 31, 2020||March 31, 2021||March 31, 2020|
|Net Revenue from operations||2,102.70||1,581.39||7,149.68||6,839.46|
|Profit before Tax||258.79||178.28||873.33||840.68|
The Board of the Directors recommended a final dividend of Rs 6/- per equity share (representing 600%) on face value of Re. 1/- each for the financial year 2020-21.
Amara Raja Batteries Ltd recorded an impressive revenue growth in the last quarter of FY21, which was aided by strong volume growth in both automotive and industrial applications across all customer segments. These sectors witnessed better than expected demand in the last two quarters of the last financial year, resulting in emerging industry needs and a stronger market demand. Consequently, Amara Raja has been keeping manufacturing operations at the optimum capacity utilisation levels while following strict employee health and safety measures, owing to the Covid second wave.
Mr. Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited, said “We have managed to perform better than the previous year despite the very challenging and uncertain environment during the fiscal year gone by. The last quarter of FY21 witnessed strong growth across all segments. Our employees and business partners have responded to the challenges with greater resilience and agility.”
“While the second wave of Covid and the resultant lockdowns currently being enforced are creating unpredictability in the product off take, we are working to ensure the product availability across all market is taken care of by dynamically managing the supply chain. We continue to take all possible measures to safeguard health and well-being of our employees in the current pandemic situation”, he added.
Mr Galla further explained “Our capacity augmentation projects are being implemented as per schedule in anticipation of strong revival of economic activity in the country in the near term. While the short-term challenges posed by the second wave of Covid are being addressed with agile organisational processes, we remain focused on preparing ourselves for the future opportunities in both the energy storage and mobility energy application, by participating in advanced cell technologies and creating sustainable products.”
About Amara Raja Batteries Limited
Amara Raja Batteries Limited is the technology leader and one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.
In India, Amara Raja is the preferred supplier to major telecom service providers, Telecom equipment manufacturers, the UPS sector (OEM & Replacement), Indian Railways and to the Power, Oil & Gas, among other industry segments. Amara Raja’s industrial battery brands comprise PowerStack®, AmaronVolt® and Quanta®. The Company is a leading manufacturer of automotive batteries under the brands Amaron® and PowerzoneTM, which are distributed through a large Pan-India sales & service retail network.
The Company supplies automotive batteries under OE relationships to Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors. The Company’s Industrial and Automotive Batteries are exported to countries in the Indian Ocean Rim.
Some of the statements in this news release that are not historical facts are forward looking statements. These forward looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate. These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change.
There are risks and uncertainties that could cause actual events to differ materially from these forward looking statements. These risks include, but are not limited to, the level of the market demand for our products, the highly competitive market for the types of the products that we offer, market condition that would cause our customers to reduce their spending for our products, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and otherwise not specifically mentioned herein but those that are common to industry.
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