Amara Raja Batteries Ltd

About

Amara Raja Batteries is a manufacturer of lead-acid storage batteries for industrial and automotive applications in India. (Source : Company Web-Site)

  • Market Cap 13,085 Cr.
  • Current Price 766
  • High / Low 814 / 349
  • Stock P/E 23.2
  • Book Value 230
  • Dividend Yield 1.44 %
  • ROCE 23.5 %
  • ROE 18.6 %
  • Face Value 1.00

Pros

  • Company is virtually debt free.
  • Company has been maintaining a healthy dividend payout of 22.83%

Cons

  • The company has delivered a poor growth of 10.19% over past five years.
  • Promoter holding is low: 28.06%
  • Promoter holding has decreased over last 3 years: -24.00%
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
1,553 1,581 1,779 1,753 1,695 1,567 1,815 1,695 1,748 1,581 1,151 1,936
1,312 1,370 1,558 1,516 1,442 1,325 1,536 1,403 1,464 1,338 999 1,595
Operating Profit 242 211 220 237 253 242 279 292 284 243 152 340
OPM % 16% 13% 12% 14% 15% 15% 15% 17% 16% 15% 13% 18%
Other Income 17 24 14 14 12 6 10 18 13 14 9 11
Interest 1 1 1 2 2 2 3 3 3 3 3 2
Depreciation 59 59 63 64 66 68 73 75 76 76 75 78
Profit before tax 198 174 170 185 198 178 213 232 217 178 84 271
Tax % 32% 37% 33% 35% 34% 33% 34% 6% 24% 23% 25% 26%
Net Profit 134 110 113 120 131 119 141 219 164 137 63 201
EPS in Rs 7.87 6.43 6.62 7.04 7.66 6.99 8.25 12.81 9.63 8.00 3.67 11.79
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,313 1,464 1,761 2,364 2,959 3,437 4,211 4,618 5,317 6,059 6,793 6,839 6,416
1,144 1,176 1,504 2,025 2,508 2,877 3,509 3,795 4,467 5,176 5,841 5,741 5,396
Operating Profit 169 288 257 340 451 560 702 823 850 883 952 1,099 1,020
OPM % 13% 20% 15% 14% 15% 16% 17% 18% 16% 15% 14% 16% 16%
Other Income 8 17 8 28 37 42 42 46 49 66 47 55 47
Interest 20 8 3 2 0 1 0 6 6 5 7 12 11
Depreciation 35 43 42 46 66 65 134 141 191 230 261 301 305
Profit before tax 123 255 220 319 422 537 610 723 702 714 730 841 750
Tax % 34% 34% 33% 33% 32% 32% 33% 32% 32% 34% 34% 21%
Net Profit 80 167 148 215 287 367 411 492 478 471 483 661 565
EPS in Rs 4.71 9.78 8.67 12.59 16.79 21.51 24.05 28.78 28.01 27.59 28.31 38.69 33.09
Dividend Payout % 8% 15% 27% 15% 15% 15% 15% 15% 15% 15% 25% 28%
Compounded Sales Growth
10 Years:17%
5 Years:10%
3 Years:9%
TTM:-5%
Compounded Profit Growth
10 Years:15%
5 Years:10%
3 Years:11%
TTM:-7%
Stock Price CAGR
10 Years:23%
5 Years:-3%
3 Years:3%
1 Year:11%
Return on Equity
10 Years:21%
5 Years:19%
3 Years:17%
Last Year:19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
17 17 17 17 17 17 17 17 17 17 17 17 17
Reserves 389 527 629 806 1,043 1,346 1,682 2,099 2,576 2,920 3,318 3,639 3,906
Borrowings 286 91 100 86 88 86 76 74 72 64 58 68 71
203 341 370 443 623 535 611 761 919 1,168 1,102 1,277 1,469
Total Liabilities 894 976 1,116 1,352 1,770 1,984 2,386 2,951 3,585 4,169 4,496 5,001 5,463
281 306 315 355 359 623 944 1,352 1,492 1,703 1,813 1,829 1,934
CWIP 40 23 38 32 103 145 86 123 240 226 315 827 775
Investments 47 16 16 16 16 16 16 20 147 35 20 156 522
526 631 747 949 1,293 1,200 1,340 1,456 1,706 2,204 2,348 2,188 2,231
Total Assets 894 976 1,116 1,352 1,770 1,984 2,386 2,951 3,585 4,169 4,496 5,001 5,463

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
236 214 86 298 335 279 395 555 553 322 541 1,177
-132 -18 -61 -73 -119 -342 -294 -387 -529 -236 -448 -831
-85 -204 -42 -42 -35 -53 -75 -164 -2 -138 -92 -364
Net Cash Flow 19 -8 -17 184 181 -117 26 4 22 -52 1 -18

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 21% 38% 32% 39% 42% 42% 38% 36% 29% 25% 23% 23%
Debtor Days 58 60 63 49 47 48 48 47 39 47 41 34
Inventory Turnover 5.03 4.82 4.80 6.03 7.47 7.57 7.70 5.99 5.15 4.60 4.60 4.24

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
52.06 52.06 52.06 52.06 52.06 52.06 28.06 28.06 28.06 28.06 28.06 28.06
16.70 18.97 20.33 20.41 20.65 19.38 17.31 20.07 21.24 20.91 19.01 18.63
12.75 10.97 9.94 9.41 9.21 10.32 13.39 11.58 10.64 11.14 13.27 14.23
0.31 0.31 0.32 0.34 0.34 0.37 0.47 0.47 0.47 0.47 0.47 0.47
18.18 17.69 17.35 17.78 17.75 17.87 40.77 39.82 39.59 39.42 39.19 38.61

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