Amara Raja Energy & Mobility Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for ARE&M, BSE:500008 Amara Raja Energy & Mobility Ltd.

Amara Raja Energy & Mobility Ltd.

06 Feb 2020

1015.00

-1.59%

AMAR RAJA BATTERY

Hold: Amara Raja Energy & Mobili...

Target

Geojit BNP Paribas

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. During Q3FY20, ARBL revenue grew by 3.1%YoY, (marginally in-line with our estimate) due to strong replacement market....

Amara Raja Energy & Mobility Ltd. is trading above its 30 day SMA of 1006.5

Amara Raja Energy & Mobility Ltd.

04 Feb 2020

1015.00

-1.59%

Q3FY20 Result Review: Amara Raja Batteries

Accumulate: Amara Raja Energy & Mobili...

Target

IDBI Capital

Amara Raja's result was slightly better than our expectations. Its top-line was 8.3% above our estimate; however, EBITDA margin was 72 bps below our forecast. Amara Raja's sales increased 3.1% YoY to Rs17 bn and EBITDA increased 12.2% YoY to Rs2.8 bn. EBITDA margin expanded 132bps YoY mainly due to price hike taken by the company in the last one year. Amara Raja's net profit growth of 25.4% YoY to Rs 1,642...

Amara Raja Energy & Mobility Ltd. is trading above its 30 day SMA of 1006.5

Amara Raja Energy & Mobility Ltd.

03 Feb 2020, 12:00AM

1015.00

-1.59%

In-line; strong aftermarket offset by weak OEM/Telecom

Buy: Amara Raja Energy & Mobili...

Target

Motilal Oswal

3 February 2020 AMRJs performance was expectedly strong with ~26% YoY PAT growth. More importantly, its volume growth in aftermarket continues to endorse our view of value migration from the unorganized to organized segment. We marginally upgrade our EPS estimate and maintain price of ~INR885 (~20x Mar22E consol EPS). Revenue/EBITDA/PAT grew 3%/12%/26% YoY to INR17.5b/INR2.8b/INR1.6b in 3QFY20. For 9MFY20, revenue/EBITDA/PAT increased ~1%/20%/44% YoY. Revenues were driven by strong volume growth in the auto aftermarket business. However, weakness in the OEM (15-16% decline) and Telecom (13-14% decline) businesses, along with the impact of lower lead prices (2.5-3% YoY decline), resulted in moderate revenue growth. Gross margin of 35.5% (+270bp YoY, -40bp QoQ) exceeded our estimate due to inventory changes and a better mix. However, EBITDA margin expanded at a lower rate of 130bp YoY (-100bp diluted the benefit of gross margin improvement. EBITDA increased ~12% YoY (-3% QoQ) to ~INR2.

Amara Raja Energy & Mobility Ltd.'s price crossed below 50Day SMA today

Amara Raja Energy & Mobility Ltd.

22 Nov 2019

1015.00

-1.59%

EARNINGS UPDATE- AMARA RAJA 2QFY20

Hold: Amara Raja Energy & Mobili...

Recommendation Target

Chola Wealth Direct

Sector: Auto Parts & Equipment /Mid-Cap | Earnings Update 2QFY20 Background: Amara Raja Batteries Ltd (ARBL) is the second largest automotive battery manufacturer and the largest supplier of industrial storage batteries in India. JCI, the global leader in lead-acid automotive batteries and advanced batteries for start-stop, hybrid and electric vehicles, provides technical support to ARBL. Company's business model is de-risked as it caters to automotive as well as industrial segments. Sales are well diversified...

Amara Raja Energy & Mobility Ltd. is trading above its 30 day SMA of 1006.5

Amara Raja Energy & Mobility Ltd.

14 Nov 2019

1015.00

-1.59%

AMAR RAJA BATTERY

Hold: Amara Raja Energy & Mobili...

Target

Geojit BNP Paribas

Margin expanded owing to lower lead price 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. During Q2FY20, ARBL revenue de-grew by -3.3%YoY, (marginally below our estimate) due to lower auto sales from manufacture's . However EBITDA margin expanded by 370bps to 17.2% on account of sharp decline in Lead price (-3.3%YoY) and better product mix....

Amara Raja Energy & Mobility Ltd. is trading above its 30 day SMA of 1006.5

Amara Raja Energy & Mobility Ltd.

09 Nov 2019

1015.00

-1.59%

Above est.; Lead price deflation hurts sales but boosts margins

Buy: Amara Raja Energy & Mobili...

Target

Motilal Oswal

9 November 2019 of lead deflation has resulted in revenue decline of 3% YoY to INR17b (v/s est. Volume growth was driven by strong growth in aftermarket, exports and UPS, but diluted by decline in OEMs and telecom. Auto volumes grew 7-8% while Industry volumes grew 6- 7%. Average spot lead prices in 1QFY20 (since impact with 3 months lag) were lower by ~8.5% QoQ and ~18% YoY, which hurt revenue growth. Gross margins improved 500bp YoY (+350bp QoQ) due to lower lead prices and better mix (lower OEM contribution). However, operating deleverage diluted EBITDA margin expansion to ~350bp YoY (+190bp QoQ) at 17.2% (v/s est. This coupled with lower tax boosted adj. PAT growth to ~80% YoY to INR2.2b (v/s est.

Number of FII/FPI investors decreased from 275 to 267 in Dec 2024 qtr

Amara Raja Energy & Mobility Ltd.

01 Aug 2019

1015.00

-1.59%

EARNINGS UPDATE-AMARA RAJA BATTERIES 1QFY20

Buy: Amara Raja Energy & Mobili...

Chola Wealth Direct

Sector: Auto Parts & Equipment /Mid-Cap | Earnings Update 1QFY20 Background: Amara Raja Batteries Ltd (ARBL) is the second largest automotive battery manufacturer and the largest supplier of industrial storage batteries in India. The company supplies auto batteries to OEMs such as Ford, Hyundai, Honda, Mahindra & Mahindra, Maruti Suzuki, Ashok Leyland and Tata motors amongst others. Its Industrial division consists of brands such as PowerStack, Amaron Volt, Amaron Sleek, Amaron brute and Amaron Quanta. Company's business model is de-risked as it caters to automotive as well as industrial segments. The company's products are exported to most...

Amara Raja Energy & Mobility Ltd. is trading above its 30 day SMA of 1006.5

Amara Raja Energy & Mobility Ltd.

23 Jul 2019

1015.00

-1.59%

Amara Raja Batteries: Q1FY20 Result Review

Hold: Amara Raja Energy & Mobili...

Target

IDBI Capital

Amara Raja's Q1FY20 result was broadly in-line of our expectations; however net sales was better than our estimate by 5.3%. Its net sales stood at Rs18.1 bn (+2.0% YoY, 15.8% QoQ) led by higher automotive and export sales. EBITDA was in-line with our forecast at Rs.2.7 bn (+26.8% YoY, +15.3% QoQ); EBITDA margin improved 300bps YoY to 15.4% mainly on price hikes and lower prices of key raw material, lead. Net profit increased 24.7% YoY to Rs 1,409 mn. As Q1FY20 result was in line with our expectation, we broadly maintain our FY20/FY21 forecasts. We continue to value the stock at PE of 18x on our FY21E EPS and maintain...

Amara Raja Energy & Mobility Ltd.'s price crossed below 50Day SMA today

Amara Raja Energy & Mobility Ltd.

22 Jul 2019

1015.00

-1.59%

Amara Raja Batt

Accumulate: Amara Raja Energy & Mobili...

Recommendation Target

Dolat Capital

Amara Raja reported strong results in 1QFY20 in challenging conditions. Net profit jumped 25% YoY to ` 1.4bn, due to sharp margin expansion of 300bps and a low base. We remain positive about the Indian batteries market, as we expect 1) replacement demand to further improve, given healthy primary sales in the past three years, 2) a market share gain from unorganized players, after GST, and 3) an uptick in the nascent e-rickshaws /solar batter. We forecast Revenue/EBITDA/PAT CAGR of 8%/11%/10% over FY19-21E. At CMP, the stock trades at 19/18x for FY20/21E EPS (vs 5...

Amara Raja Energy & Mobility Ltd. has lost -28.11% in the last 6 Months

Amara Raja Energy & Mobility Ltd.

20 Jul 2019

1015.00

-1.59%

Margins powered by volumes growth; price cuts in 2W aftermarket

Buy: Amara Raja Energy & Mobili...

Target

Motilal Oswal

20 July 2019 to just 2% YoY (INR18.2b v/s our estimate of INR17.4b). 4W battery volumes increased 5% YoY, driven by growth of 10-11% YoY in aftermarket and 22% YoY in exports, partly offset by an 18% YoY decline in OEM volumes. 2W volumes were up 6-7% YoY, driven by 20% YoY growth in aftermarket, despite 25-28% YoY decline OEM volumes. Industrial volumes increased 11% YoY, driven by 25% YoY growth in UPS, despite 8-9% YoY decline in telecom battery volumes. Lead prices were lower by 10-12% YoY. Operating leverage and change in lease accounting (20-25bp benefit) drove 15.1%). Implementation of AS116 (lease accounting) resulted in higher depreciation (by ~INR40m) and interest cost (by ~INR10m). Adj. PAT increased (a) AMRJ recently reacted to the 5- 6% price cut in the 2W replacement market by EXID. (b) Realized lead price was at INR141-143k/ton (v/s INR154k in 4QFY19).

Amara Raja Energy & Mobility Ltd.'s price crossed below 50Day SMA today

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Is Amara Raja Batteries Ltd. worth buying?

1026 Votes:

Buy 80.31%

Sell 11.11%

Hold 8.58%

RESEARCH REPORTS

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