BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Amara Raja Batteries Ltd.'s Q1 FY22 result was broadly in line with our expectations.
Amara Raja's sales increased by 64% YoY to Rs 19 billion as automotive and industrial sales rebounded strongly; even exports and original equipment manufacturers sales witnessed sharp increase.
Ebitda jumped 64% YoY to Rs 2,500 million, although Ebitda margin remained flat YoY but fell 179 basis points on QoQ to 13.3% on rising prices of raw materials (mainly lead).
The company's net profit nearly doubled YoY to Rs 1,241 million.
We broadly maintain our FY22/FY23 sales forecasts.
However, we lower our FY22-FY23 Ebitda margin estimates by ~100 bps to account for higher price of raw materials.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
