Amara Raja Energy & Mobility Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2024

1.These financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on February 8, 2025. These results are as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The statutory auditors have carried out a limited review of these results for the quarter and nine months ended December 31, 2024 and have issued an unmodified report on these results.
2.In accordance with Ind AS 108 'Operating Segment', the Company has disclosed Segment information on a consolidated basis for the quarter and nine months ended December 31, 2024 which is available as part of the Unaudited Consolidated Financial Results of the Company.
3.Interim dividend of Rs.5.30 per equity share of face value of Rs. 1 each approved by the Board of Directors at its meeting held on November 4, 2024 was paid during the Quarter.
4.During the current quarter ended December 31, 2024, an amount of Rs. 175 crores was received by the Company as an on-account payment towards the insurance claim (including on reinstatement basis for property, plant and equipment) lodged on account of damage to its assets due to the fire accident at its manufacturing facility in Chittoor on January 30, 2023.
An amount of Rs. 111.07 crores representing difference between the cumulative amount received and the insurance claim receivable recognised in books, has been recognised as exceptional item in the Statement of Profit and Loss.
5.The Board of Directors of the Company at its meeting held on September 26, 2022 approved a Scheme of Arrangement amongst Mangal Industries Limited (‘Demerged Company’) and Amara Raja Energy & Mobility Limited (formerly known as Amara Raja Batteries Limited) [‘the Company’] and their respective shareholders and creditors, under the provisions of Section 230 to 232 and other applicable provisions of the Companies Act, 2013 (“the Scheme"). The Scheme, inter-alia, provides for demerger of the plastic component for battery business (‘Demerged Undertaking’) from the demerged company to the Company. The Scheme has been approved by the Hon’ble jurisdictional National Company Law Tribunal ("NCLT") vide its order dated January 10, 2024, and the same has become effective from February 1, 2024.

Consequent to the Scheme coming into effect, purchase consideration of Rs. 672.56 crores has been discharged through issue of 1,22,12,864 fully paid-up equity shares of face value of Rs. 1/- each to the equity shareholders of the Demerged Company, in accordance with the share entitlement ratio approved in the Scheme. The transaction was accounted in accordance with the acquisition method as per Ind AS 103 – Business Combination. The Company has recognised Rs. 244.57 crores towards the fair value of net assets acquired and Rs. 427.99 crores towards goodwill. The above referred shares of 1,22,12,864 have been alloted in February 2024.