Amara Raja Energy & Mobility Ltd

Amara Raja Energy & Mobility Ltd

₹ 891 1.40%
12 Apr 3:42 p.m.
About

Amara Raja Batteries Limited [1] (ARBL), the flagship company of the Amara Raja Group, is the technology leader and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.

ARBL has prestigious OEMs as its clients. The Company's Industrial and Automotive batteries are exported to over 50 countries across the globe.

In India, Amara Raja is the preferred supplier to major telecom service providers, Telecom equipment manufacturers, UPS sector (OEM & Replacement), Indian Railways and to Power, Oil & Gas among other industry segments.
Termination of Shareholders Agreement (tie up) with Johnson Control [2]

Key Points

Business Segments[1]
Automotive battery division (68% of revenue in FY23)
Applications – 2W, 3W, 4W & CV’s
• Largest Exporter of 4W Batteries
• First AGM battery manufacturer for 2W
• Setting up 1.5 LPTA of a lead recycling facility through the wholly owned subsidiary ARCSPL

  • Market Cap 16,301 Cr.
  • Current Price 891
  • High / Low 922 / 568
  • Stock P/E 19.9
  • Book Value 331
  • Dividend Yield 0.69 %
  • ROCE 20.2 %
  • ROE 14.8 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 19.7%

Cons

  • The company has delivered a poor sales growth of 11.4% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,960 2,103 1,886 2,264 2,365 2,181 2,620 2,699 2,637 2,429 2,770 2,811 2,881
1,654 1,786 1,636 1,995 2,081 1,961 2,359 2,339 2,240 2,092 2,416 2,424 2,471
Operating Profit 306 316 250 269 284 220 261 360 397 337 353 387 410
OPM % 16% 15% 13% 12% 12% 10% 10% 13% 15% 14% 13% 14% 14%
35 32 17 26 19 16 17 24 26 -25 22 28 24
Interest 3 3 3 4 4 5 5 5 6 6 6 6 6
Depreciation 79 87 96 99 102 99 96 102 115 114 111 115 114
Profit before tax 260 259 167 193 197 132 177 277 303 192 258 293 313
Tax % 26% 27% 26% 25% 27% 26% 26% 27% 26% 28% 26% 27% 24%
193 189 124 144 145 99 131 202 223 138 192 214 240
EPS in Rs 11.31 11.09 7.26 8.44 8.47 5.77 7.70 11.84 13.04 8.08 11.27 12.55 14.03
Raw PDF
Upcoming result date: 28 May 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,364 2,959 3,437 4,211 4,618 5,317 6,059 6,793 6,839 7,150 8,696 10,386 10,891
2,025 2,508 2,876 3,507 3,793 4,465 5,174 5,838 5,741 6,033 7,666 9,015 9,403
Operating Profit 340 451 560 704 825 853 885 955 1,099 1,117 1,030 1,371 1,488
OPM % 14% 15% 16% 17% 18% 16% 15% 14% 16% 16% 12% 13% 14%
28 37 42 41 44 47 65 43 55 86 71 26 48
Interest 2 0 1 0 6 6 5 7 12 11 15 22 24
Depreciation 46 66 65 134 141 191 230 261 301 319 396 427 455
Profit before tax 319 422 537 610 723 702 714 730 841 873 690 948 1,057
Tax % 33% 32% 32% 33% 32% 32% 34% 34% 21% 26% 26% 27%
215 287 367 411 492 478 471 483 661 647 511 694 784
EPS in Rs 12.59 16.79 21.51 24.05 28.78 28.01 27.59 28.31 38.69 37.87 29.93 40.65 45.93
Dividend Payout % 15% 15% 15% 15% 15% 15% 15% 25% 28% 29% 15% 15%
Compounded Sales Growth
10 Years: 13%
5 Years: 11%
3 Years: 15%
TTM: 7%
Compounded Profit Growth
10 Years: 10%
5 Years: 10%
3 Years: 4%
TTM: 25%
Stock Price CAGR
10 Years: 8%
5 Years: 5%
3 Years: 3%
1 Year: 54%
Return on Equity
10 Years: 18%
5 Years: 15%
3 Years: 14%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 17 17 17 17 17 17 17 17 17 17 17 17 17
Reserves 806 1,043 1,346 1,682 2,099 2,576 2,920 3,318 3,639 4,193 4,534 5,281 5,630
86 88 86 76 74 72 64 58 84 92 126 107 108
443 623 535 611 761 919 1,168 1,102 1,261 1,494 1,699 1,694 1,974
Total Liabilities 1,352 1,770 1,984 2,386 2,951 3,585 4,169 4,496 5,001 5,797 6,376 7,099 7,729
355 359 623 944 1,352 1,492 1,703 1,813 1,829 2,455 2,492 2,897 2,855
CWIP 32 103 145 86 123 240 226 315 827 399 830 234 182
Investments 16 16 16 16 20 147 35 20 156 281 78 486 1,242
949 1,293 1,200 1,340 1,456 1,706 2,204 2,348 2,188 2,662 2,976 3,483 3,449
Total Assets 1,352 1,770 1,984 2,386 2,951 3,585 4,169 4,496 5,001 5,797 6,376 7,099 7,729

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
298 335 279 395 555 553 322 541 1,177 802 633 926
-73 -119 -342 -294 -387 -529 -236 -448 -831 -616 -482 -770
-42 -35 -53 -75 -164 -2 -138 -92 -364 -122 -213 -100
Net Cash Flow 184 181 -117 26 4 22 -52 1 -18 64 -62 55

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 49 47 48 48 47 39 47 41 34 40 33 27
Inventory Days 61 54 54 55 75 85 93 83 94 111 108 83
Days Payable 20 25 20 34 44 44 53 40 50 57 48 38
Cash Conversion Cycle 90 76 81 69 78 81 88 85 77 93 93 73
Working Capital Days 47 35 24 45 49 48 62 66 49 55 52 61
ROCE % 39% 42% 42% 38% 36% 29% 25% 23% 23% 22% 16% 20%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
28.06% 28.06% 28.06% 28.06% 28.06% 28.06% 28.06% 28.06% 28.06% 28.06% 28.06% 28.06%
21.34% 22.10% 20.82% 19.80% 18.10% 18.34% 18.47% 35.49% 36.19% 35.22% 24.64% 24.00%
12.64% 15.24% 14.52% 11.68% 11.38% 10.82% 10.02% 9.25% 9.21% 10.47% 16.81% 17.91%
37.96% 34.60% 36.59% 40.46% 42.46% 42.77% 43.45% 27.20% 26.55% 26.24% 30.50% 30.02%
No. of Shareholders 1,49,5743,25,7333,89,3224,74,6625,42,1335,49,0065,48,4334,79,9624,71,4354,64,5295,60,9875,52,894

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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