Amara Raja Energy & Mobility Limited has informed the Exchange about Transcript
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Amara Raja reported Q1 FY26 consolidated revenue of INR 3,401 crores, up 4% year-on-year and 11% quarter-on-quarter, with 95-96% of revenue from the lead-acid battery business. The 4-wheeler OEM segment grew 12-13%, but export volumes declined 7-8% and telecom lead-acid volumes fell around 30%. Standalone EBITDA margin was subdued at 11.5%, hit by raw material costs (antimony), higher power and employee costs, warranty provisions, and a higher trading revenue mix of 23% (vs 19% last year). The New Energy business posted INR 122 crores in revenue, crossing 100 MW of lithium pack sales to telecom, while cumulative investment in the cell technology subsidiary reached INR 1,200 crores. Capex guidance for FY26 is INR 1,200-1,300 crores, of which INR 800-900 crores is earmarked for New Energy. The tubular battery plant commenced production in July, and the first 1 GWh NMC gigafactory is targeted for end of FY27.
CFO guided that Q1 and Q4 of last year were the worst quarters for margins and that the trajectory should improve from here, with a return to the typical 13% range as power cost issues ease by end-Q2 and the tubular plant ramps up. However, export headwinds and EV demand softness remain near-term overhangs, even as long-term growth in lithium-ion, BESS, and recycling offers a positive structural story.