Investor presentation
ARE&M · price
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Amara Raja Energy & Mobility (ARE&M) reported FY26 consolidated revenue of ₹1,38,140 million, up 7.5% YoY. However, EBITDA margin compressed to 10.8% from 12.6% in FY25, with EBITDA declining 7.4% to ₹14,971 million. PAT fell 5.2% to ₹8,958 million, with diluted EPS at ₹48.95. Q4 FY26 showed stronger performance with revenue up 15.5% YoY and PAT up 94.5% (boosted by ₹1,812 million insurance claim). The company has infused ₹1,500 crore into its New Energy subsidiary ARACT, with Giga cell factory targeting 2 GWh capacity starting Q2-CY27 and 16 GWh by FY30. Lead-acid business maintains strong brand presence across 70+ countries with ~12% exports, while new energy pack capacity stands at 2.7 GWh.
The stock faces pressure from margin compression in core lead-acid business and higher depreciation from new energy capex. Near-term earnings may remain muted as heavy investments in the 16 GWh giga factory ramp up, but the company is positioning for EV and energy storage market growth with clear timelines.