Amara Raja Batteries Ltd (ARBL) is India's second largest Lead-acid battery manufacturer. Its segment includes automotive and industrial lead acid batteries, with market leadership in Telecom segment. Q4FY18 revenue grew by 18%YoY which was largely driven by automotive segment but industrial segment remained subdued. EBITDA margin contracted by 40bpsYoY (-230bps QoQ) due to increase in RM cost. Lead price increased by 4.7%YoY. ARBL should continue to be preferred supplier to OEM due to its excellent...