Amara Raja Energy & Mobility Q3 FY25 Results: Revenue Rises 10% YoY to ₹3,164 Cr, Net Profit at ₹298 Cr
Amara Raja Energy & Mobility Ltd: Overview
Amara Raja Energy & Mobility Ltd, formerly known as Amara Raja Batteries Ltd, is one of India’s leading energy storage and mobility solutions providers. The company is a major player in the battery manufacturing industry, catering to various sectors, including automotive, industrial, and renewable energy storage. Established as a key innovator in battery technology, Amara Raja is well-known for its flagship brand, Amaron, which has a strong presence in the automotive battery market. With a focus on sustainable energy solutions, the company has expanded into lithium-ion battery technology and advanced energy storage solutions to support India’s growing electric vehicle (EV) ecosystem and renewable energy infrastructure. The company operates through a robust distribution network, reaching domestic and international markets across Asia, the Middle East, and Africa. The Indian battery industry is experiencing rapid growth, driven by the increasing adoption of electric vehicles, rising demand for energy storage solutions in renewable energy projects, and government initiatives promoting clean energy. The transition to lithium-ion and alternative battery technologies is a key trend, positioning companies like Amara Raja at the forefront of the energy transition. However, the industry faces challenges such as raw material price volatility, global supply chain disruptions, and regulatory shifts.
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The automotive segment witnessed robust volume growth in both two-wheeler (2W) and four-wheeler (4W) batteries in the aftermarket on a year-on-year basis. In the OEM segment, the 2W category registered significant growth, while the 4W category saw muted expansion. Other applications, such as lubricants, experienced an uptick in volumes during the quarter, and home UPS (HUPS) and inverter batteries registered healthy year-on-year growth. Export volumes increased, with a higher share coming from America and Europe. Trading revenue contributed 10% to the overall revenue during the period. In the industrial battery segment, lead-acid battery volume growth remained muted due to the migration of telecom batteries to lithium-based solutions. However, UPS and export segments recorded substantial growth during the quarter. The company commenced commercial production for Phase I of its refinery in December 2024, with an initial capacity of 50,000 MTPA and an eventual capacity of 100,000 MTPA. Additionally, battery breaking operations are expected to begin in Q1 FY26. For stationary applications, the company leveraged its existing relationships and partnered with telecom players to cater to their lithium-ion battery requirements. As a result, telecom battery volumes saw substantial growth in Q3 FY25. However, the revenue growth in EV battery packs remained muted due to lower OEM off take. Meanwhile, the Tubular Battery Plant at ARGC, Chittoor, designed to manufacture over 1 million batteries annually, is undergoing final preparations. The plant has been redesigned with enhanced fire safety measures, and commercial production is expected to commence between Q4 FY25 and Q1 FY26.
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Business Segments
- Automotive Batteries: Amara Raja is one of the leading manufacturers of lead-acid batteries for the automotive industry. The company provides batteries for passenger vehicles, commercial vehicles, two-wheelers, and tractors under the Amaron and PowerZone brands. Amara Raja has been investing in lithium-ion battery technology and is actively working on partnerships to expand its presence in the EV segment.
- Industrial Batteries: The industrial battery segment is another key revenue driver for Amara Raja. The company supplies batteries for telecom, UPS (uninterruptible power supply), railways, and other critical industrial applications. With the growing demand for uninterrupted power solutions in data centers, IT infrastructure, and telecom networks, Amara Raja has been expanding its presence in this segment.
- Renewable Energy & Storage Solutions: As India accelerates its transition to renewable energy, energy storage solutions have become crucial for grid stability and energy management. Amara Raja has been focusing on expanding its presence in the renewable energy sector by offering advanced battery storage solutions for solar and wind power projects.
Subsidiary Information
- Amara Raja Batteries Middle East FZE: This subsidiary caters to the Middle East and African markets, providing a wide range of automotive and industrial batteries. The company has established a strong distribution network in the region, leveraging its manufacturing capabilities in India to supply high-quality battery solutions.
- Amara Raja Power Systems Ltd: Amara Raja Power Systems Ltd specializes in providing integrated power solutions, including power backup systems, solar energy solutions, and industrial power systems. The subsidiary plays a crucial role in expanding Amara Raja’s footprint in renewable energy storage and smart power solutions.
- Amara Raja Infra Pvt Ltd: This subsidiary is involved in infrastructure development, supporting Amara Raja’s manufacturing expansion and renewable energy projects. The company is engaged in constructing advanced manufacturing facilities and research centers to strengthen its position in the energy storage market.
- Amara Raja Advanced Cell Technologies: With the growing demand for lithium-ion batteries, Amara Raja has established this subsidiary to focus on research, development, and production of advanced battery technologies. The subsidiary is working towards developing indigenous lithium-ion battery solutions for electric mobility and grid storage applications.
- Amara Raja Electronics Ltd: Amara Raja Electronics Ltd focuses on manufacturing and supplying electronic components and battery management systems. This subsidiary plays a crucial role in the company’s transition towards smart energy solutions, including EV battery management and IoT-based energy monitoring systems.
Q3 FY25 Earnings
- Revenue of ₹3272 crore in Q3 FY25 up by 7.5% YoY from ₹3045 crore in Q3 FY24.
- EBITDA of ₹406 crore in this quarter at a margin of 12% compared to 15% in Q3 FY24.
- Profit of ₹298 crore in this quarter compared to a ₹268 crore profit in Q3 FY24.
Financial Summary
| Amount in ₹ Cr | Q3 FY24 | Q3 FY25 | FY23 | FY24 |
| Revenue | 3045 | 3272 | 10392 | 11708 |
| Expenses | 2589 | 2867 | 8945 | 10046 |
| EBITDA | 456 | 406 | 1447 | 1662 |
| OPM | 15% | 12% | 14% | 14% |
| Other Income | 24 | 146 | 29 | 106 |
| Net Profit | 268 | 298 | 731 | 934 |
| NPM | 8.8% | 9.1% | 7.1% | 7.9% |
| EPS | 15.7 | 16.3 | 42.8 | 51.1 |