Name: Latest research reports of Amara Raja Energy & Mobility Ltd. authored by IDBI Capital and published by - Trendlyne research reports.
Item: Amara Raja Energy & Mobility Ltd.
Rating: 5
Author: IDBI Capital

Amara Raja Batteries: Q2FY22 Result Review

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IDBI Capital

Amara Raja's Q2FY22 result was a mixed bag as its sales was ahead of our estimate while EBITDA was lower than our forecast. Amara Raja's sales increased by 17% YoY to Rs22 bn as automotive and industrial sales rebounded. However, sharp increase in prices of raw material (lead) led to sharp contraction in margins. Its EBITDA declined by 21% YoY to Rs2,689 mn; EBITDA margins fell by 570 bps YoY and 138 bps QoQ to 11.9%....