Amara Raja Batteries reports 45% jump in profit before tax in Q4 of FY21

Hyderabad/Tirupati: Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT), today, reported profit before tax of Rs 873.33 crores (Rs 840.68 crores) for the financial year 2020-21. The Revenue for FY 21 stood at Rs 7,149.68 crores as compared to Rs. 6,839.46 crores during FY 20. The Earnings per Share (EPS) for FY 21 was at Rs 37.87

The Company reported for the Q4 of FY 21 a revenue of Rs 2,102.70 (Rs 1,581.39 crores) and profit before tax (PBT) of Rs.258.79 crores (Rs. 178.28 crores).

The Board of the Directors recommended a final dividend of Rs 6/- per equity share (representing 600%) on face value of Re. 1/- each for the financial year 2020-21.

Amara Raja Batteries Ltd recorded an impressive revenue growth in the last quarter of FY21, which was aided by strong volume growth in both automotive and industrial applications across all customer segments. These sectors witnessed better than expected demand in the last two quarters of the last financial year, resulting in emerging industry needs and a stronger market demand. Consequently, Amara Raja has been keeping manufacturing operations at the optimum capacity utilisation levels while following strict employee health and safety measures, owing to the Covid second wave.

Mr. Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited, said “We have managed to perform better than the previous year despite the very challenging and uncertain environment during the fiscal year gone by. The last quarter of FY21 witnessed strong growth across all segments. Our employees and business partners have responded to the challenges with greater resilience and agility.”

“While the second wave of Covid and the resultant lockdowns currently being enforced are creating unpredictability in the product off take, we are working to ensure the product availability across all market is taken care of by dynamically managing the supply chain. We continue to take all possible measures to safeguard health and well-being of our employees in the current pandemic situation”, he added.

Mr Galla further explained “Our capacity augmentation projects are being implemented as per schedule in anticipation of strong revival of economic activity in the country in the near term. While the short-term challenges posed by the second wave of Covid are being addressed with agile organisational processes, we remain focused on preparing ourselves for the future opportunities in both the energy storage and mobility energy application, by participating in advanced cell technologies and creating sustainable products.”