Amara Raja Energy & Mobility Limited, formerly known as Amara Raja Batteries Limited, is India's leading manufacturer of lead-acid batteries for industrial and automotive applications, having changed its name to reflect its expanded focus in September 2023. Headquartered in Tirupati, Andhra Pradesh, the company was founded by Dr. Ramchandra N Galla in 1985 and has established itself as a technology leader in the Indian storage battery industry.
Amara Raja Energy & Mobility is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in India, serving prestigious OEMs as clients. The company's industrial and automotive batteries are exported to over 50 countries across the globe, while domestically it serves major telecom service providers, telecom equipment manufacturers, UPS sector, Indian Railways, and the power, oil and gas sectors.
The company currently holds a market capitalization of ₹17,645 Crore as of June 2025. Promoter holding stands at 32.9%, with RNGALLA Family Private Limited owning 32.86% of the total equity and Jayadev Galla serving as both Chairman and Managing Director.
The company operates through two main business segments: lead-acid batteries and new energy solutions. It manufactures automotive batteries and home uninterruptible power supply (UPS)/inverter batteries under the brands Amaron and PowerZone, distributed through a pan-India sales service retail network. The Industrial Battery Division comprises brands such as PowerStack, Amaron Volt, Amaron Sleek, Amaron Brute, and Amaron Quanta.
The company supplies automotive batteries under OE relationships to major automotive manufacturers including Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors. Recently, Amara Raja announced that Hyundai Motor India will equip its domestic product line-up with AMARON's Made-in-India AGM (Absorbent Glass Mat) battery technology, making it the first auto OEM in India to use localized AGM technology, with implementation planned for Q4 FY 2024-25.
Latest Financial Performance (FY 2025):
- Net profit rose 1.10% to ₹944.67 Crore in the year ended March 2025, compared to ₹934.38 Crore in the previous year.
- Revenue from operations reached ₹30.60 billion in Q4 FY 2025, representing a 5.2% increase from ₹29.07 billion in Q4 FY 2024.
- The profit after tax for Q4 FY 2025 stood at ₹1.61 billion, with earnings per share of ₹8.83.
Quarterly Performance Highlights:
- Net profit for Q3 FY 2025 rose 11.38% to ₹298.37 Crore, while sales increased 7.48% to ₹3,272.47 Crore compared to the same quarter in the previous year.
- The company's performance was driven by strong growth in the Lead Acid Batteries & Allied Products segment, which contributed ₹3,154.82 Crore in revenue during Q3 FY 2025.
- The New Energy business experienced a 35% revenue growth in Q4 FY 2025, driven by higher supply of ESS batteries to the telecom segment and continued performance of EV batteries.
Key Financial Metrics:
- Current dividend yield is 1.08%.
- P/B ratio of 2.51 times and P/E ratio of 19.62 times as of June 2025.
- Return on equity of 13.6% over the last 3 years.
New Energy Business Expansion:
Amara Raja has broken ground on its Giga Factory-1 at its Telangana industrial park, with the company's customer qualification plant and research and development center nearing completion. The company is investing aggressively in lithium-ion technology, advanced lead recycling, and the EV ecosystem as part of its shift towards sustainable energy leadership.
Operational Performance:
The domestic aftermarket for four-wheeler batteries showed strong growth of 9% year-on-year, with overall volume growth at 15%. Home inventory batteries achieved close to 17% growth, while two-wheeler volumes grew 13% during Q4 FY 2025.
Global Expansion:
The company has successfully expanded its geographical presence, entering new markets such as the UK, Greece, and the Benelux region. Export markets contributed approximately 13% of revenue, with presence in 60+ countries and an aim to reach 80+ countries by FY 2030.
The company's profitability and operating margins were negatively impacted by increased material costs, particularly alloys like antimony, and higher power costs. Management has set a target margin of 14% and implemented a 2% price increase to mitigate cost pressures from alloys and power costs.
The company faces difficulties in sourcing rare earth magnets from China, which dominates the market and has imposed export restrictions, leading to exploration of collaborations with Japanese firms for lithium-ion battery supply chains.
Despite these challenges, Chairman & Managing Director Jayadev Galla has expressed confidence in the company's path toward sustainable and profitable growth, highlighting strong performance in traditional lead-acid battery business across both India and international markets.
Amara Raja Energy & Mobility continues to strengthen its position as India's leading battery manufacturer while strategically expanding into new energy technologies and markets, positioning itself for long-term growth in the evolving energy and mobility landscape.
