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Amara Raja Energy & Mobility Ltd

NSE: ARE&M BSE: 500008

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.

₹801
52W: ₹670 — ₹1096
PE 19.4 · Book ₹425 · +88% vs book
Market Cap₹14,667 Cr
Stock P/E19.4Price to Earnings
ROCE16.8%Return on Capital
ROE12.3%Return on Equity
Div. Yield1.28%Face Value ₹1

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 18.1%
  • +Company's working capital requirements have reduced from 47.8 days to 33.6 days

Weaknesses

  • −Company has a low return on equity of 13.5% over last 3 years.

Shareholding Pattern

Promoters32.86%
FIIs17.31%
DIIs16.95%
Public32.88%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters32.86%32.86%32.86%32.86%32.86%32.86%32.86%32.86%
FIIs23.84%22.33%▼1.521.82%▼0.520.71%▼1.119.39%▼1.317.97%▼1.417.37%▼0.617.31%▼0.1
DIIs14.55%15.36%▲0.814.81%▼0.514.59%▼0.214%▼0.616.24%▲2.217.12%▲0.916.95%▼0.2
Public28.76%29.43%▲0.730.52%▲1.131.86%▲1.333.76%▲1.932.93%▼0.832.63%▼0.332.88%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales2,8112,8822,7973,1313,1363,1642,9743,3503,3883,351
Expenses2,4012,4472,3892,7012,6952,7482,6322,9632,9822,976
Operating Profit410435408430441416342387406374
OPM %15%15%15%14%14%13%12%12%12%11%
Net Profit226253228245241312167194302152
EPS ₹13.2514.812.4613.3613.1517.049.1110.616.528.29

AI Insights

Revenue Trend

TTM revenue at ₹13,063Cr, up 5.3% YoY. OPM at 12%.

Debt Position

Borrowings at ₹286Cr. Debt-to-equity ratio: 0.04x. Healthy balance sheet.

Capex Cycle

CWIP at ₹541Cr (14% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 16.95% (+6.48pp change). FIIs: 17.31% (-17.91pp change). Promoters hold 32.86%.

Margin & Efficiency

ROCE declining from 42% (Mar 2014) to 17% (Mar 2025). Working capital days: 34.

Valuation

PE 19.4x with 16.8% ROCE. Price is 88% above book value of ₹425. Dividend yield: 1.28%.

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