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Business EconomyPosted at: May 24 2023 1:07AM


Amara Raja Batteries FY23 PBT jumps 45 pc '

Hyderabad/Tirupati, May 23 (UNI) : Amara Raja Batteries Limited (ARBL) India’s leading Industrial and Automotive Battery major, on Tuesday reported a 45 per cent increase in profit before tax (after exceptional items) to Rs. 947.57 crores for the financial year 2022-23 against Rs 689.80 crore in the previous year.
The company’s profit before tax ( after exceptional items) for the fourth quarter ended March 31,2023 increased to Rs 191.52 crores against Rs 132.49 crore in the corresponding quarter in the previous year.
The Revenue for FY23 stood at Rs.10,385.91 crore as compared to Rs.8,695.82 crore in FY22, the company said in a release here.
The Company reported for the Q4 of FY23 a revenue of Rs.2,429.21 crore against Rs 2,180.70 crore in the corresponding quarter in the previous year.
The Board of the Directors recommended a final dividend of Rs.3.20 per equity share (representing 320%) on face value of Rs.1 each for the financial year 2022-23.
Amara Raja Batteries Ltd recorded an impressive revenue growth in the last FY, on the back of strong volume growth in both automotive and industrial applications across all customer segments, the release said.
Increase in market share for both OEM and Aftermarket segments in automotive batteries.
Strong growth in the Telecom and Data Center segment on the basis of new digital platforms for enhanced customer support.
The Lithium-Ion battery packs and chargers business saw 3X growth in the fiscal.
Commenting on the results, company Chairman and Managing Director Mr. Jayadev Galla, said, “This is a testament to our customers' trust in the quality and reliability of our products. As we embark on the next phase of our Energy & Mobility strategy, our continued commitment to R&D that delivers superior products in lead-acid as well as lithium will be crucial.”
Mr. Harshavardhana Gourineni, Executive Director - Automotive & Industrial Batteries, said "We observed robust and sustained growth in both industrial and automotive applications. We’ve always been the market leaders in 2W and now we are at the top even in the 4W segment. We are currently in the process of launching a new brand of batteries in the domestic market and expanding our international operations as well."
Mr. Vikramadithya Gourineni, Executive Director - New Energy Business, stated, "With the commencement of work on the ambitious Amara Raja Giga Corridor project we are making rapid progress towards our goal of indigenous manufacture of Li-ion cells. Meanwhile, our battery packs and chargers continue to steadily prove themselves with a wide array of customers.”
UNI KNR

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