Amara Raja Batteries Ltd

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

Pros:
Company is virtually debt free.
Company has been maintaining a healthy dividend payout of 18.41%
Cons:
Promoter's stake has decreased
Promoter holding is low: 28.06%

Peer Comparison Sector: Auto Ancillaries // Industry: Auto Ancillaries

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
1,333 1,327 1,344 1,497 1,428 1,553 1,581 1,779 1,753 1,695 1,567 1,815
1,103 1,123 1,160 1,305 1,189 1,312 1,370 1,558 1,516 1,442 1,325 1,536
Operating Profit 230 204 184 193 238 242 211 220 237 253 242 279
OPM % 17% 15% 14% 13% 17% 16% 13% 12% 14% 15% 15% 15%
Other Income 12 13 15 14 12 17 24 14 14 12 6 10
Interest 1 1 2 1 1 1 1 1 2 2 2 3
Depreciation 46 47 50 54 58 59 59 63 64 66 68 73
Profit before tax 195 169 148 151 191 198 174 170 185 198 178 213
Tax % 30% 34% 33% 34% 33% 32% 37% 33% 35% 34% 33% 34%
Net Profit 136 112 99 100 127 134 110 113 120 131 119 141
EPS in Rs 7.98 6.58 5.81 5.85 7.45 7.87 6.43 6.62 7.04 7.66 6.99 8.25
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,083 1,313 1,464 1,761 2,364 2,959 3,437 4,211 4,618 5,317 6,059 6,793 6,829
904 1,144 1,176 1,504 2,025 2,508 2,877 3,509 3,795 4,467 5,176 5,841 5,819
Operating Profit 179 169 288 257 340 451 560 702 823 850 883 952 1,011
OPM % 17% 13% 20% 15% 14% 15% 16% 17% 18% 16% 15% 14% 15%
Other Income 6 8 17 8 28 37 42 42 46 49 66 47 43
Interest 14 20 8 3 2 0 1 0 6 6 5 7 8
Depreciation 24 35 43 42 46 66 65 134 141 191 230 261 272
Profit before tax 146 123 255 220 319 422 537 610 723 702 714 730 774
Tax % 35% 34% 34% 33% 33% 32% 32% 33% 32% 32% 34% 34%
Net Profit 94 80 167 148 215 287 367 411 492 478 471 483 511
EPS in Rs 5.48 4.65 9.54 8.29 12.29 16.79 20.96 23.33 28.78 28.01 27.59 28.31 29.94
Dividend Payout % 4% 8% 15% 27% 15% 15% 15% 15% 15% 15% 15% 25%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:17.86%
5 Years:14.60%
3 Years:13.73%
TTM:7.71%
Compounded Profit Growth
10 Years:19.60%
5 Years:5.45%
3 Years:-0.32%
TTM:5.55%
Stock Price CAGR
10 Years:23.89%
5 Years:2.26%
3 Years:-13.68%
1 Year:-8.84%
Return on Equity
10 Years:22.34%
5 Years:19.77%
3 Years:17.14%
Last Year:15.38%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
11 17 17 17 17 17 17 17 17 17 17 17
Reserves 322 389 527 629 806 1,043 1,346 1,682 2,099 2,576 2,920 3,318
Borrowings 316 286 91 100 86 88 86 76 74 72 64 58
201 212 348 373 447 627 539 616 784 933 1,181 1,116
Total Liabilities 850 903 982 1,119 1,356 1,775 1,987 2,391 2,974 3,598 4,182 4,510
189 281 306 315 355 359 623 944 1,352 1,492 1,703 1,813
CWIP 66 40 23 38 32 103 145 86 123 240 226 315
Investments 16 47 16 16 16 16 16 16 20 147 35 20
580 535 638 750 954 1,297 1,203 1,344 1,479 1,719 2,218 2,362
Total Assets 850 903 982 1,119 1,356 1,775 1,987 2,391 2,974 3,598 4,182 4,510

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-17 236 214 86 298 335 279 395 555 553 322 541
-116 -132 -18 -61 -73 -119 -342 -294 -387 -529 -236 -463
158 -85 -204 -42 -42 -35 -53 -75 -164 -2 -138 -92
Net Cash Flow 26 19 -8 -17 184 181 -117 26 4 22 -52 -13

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 31% 21% 38% 32% 39% 42% 42% 38% 36% 29% 25% 23%
Debtor Days 76 58 60 63 49 47 48 48 47 39 47 41
Inventory Turnover 7.56 7.39 7.74 7.01 8.58 10.58 10.95 11.18 9.06 7.50 6.49 6.44