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Motilal Oswal Stays 'Neutral' On Amara Raja Post Weak Q1 Results — Check Target Price
While the market is optimistic about Amara Raja’s li-ion initiative, Motilal Oswal is cautious about its potential returns.
19 Aug 2025, 02:50 PM IST 
Amara Raja's gross margins came in below our expectations at 29.5%, primarily due to rising prices of non-lead alloy. (Photo Source: Amara Raja website)
Amara Raja’s Q1 FY26 PAT at Rs 1.9 billion was below our estimate of Rs 2.1 billion due to lower-than-expected other income. Margins remained under pressure at 11.5% due to higher non-lead alloy costs and higher power costs.
