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.
Motilal Oswal Report
Amara Raja Batteries Ltd.'s Q2 FY22 performance was in line, as raw material cost pressures were diluted by strong revenue growth.
Near term headwinds (rising raw material prices) could affect a recovery in margin.
Amara Raja has taken the first steps towards its next phase of growth in the new energy business by supplying Li-ion battery pack to three-wheelers, but it is yet to finalise its full-fledged entry into lithium cell manufacturing.
We cut our FY22E/FY23E earnings per share estimate by 7%/6% to account for high raw material and other costs.
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