Amara Raja Energy & Mobility

Amara Raja reported Q4 FY26 consolidated revenue of ₹3,530 croreCurrent reported value: ₹3,530 crore. No comparable prior figure is available in the source record., up 15% YoYCurrent 15% vs previous available quarter 6.5%., driven by strong domestic automotive OEM volumes (30%Current 30%. Reported change: +30% YoY.+ growth) and tubular battery demand (35%Current 35%. Reported change: +35% YoY.+ volume growth). Lead-acid battery revenue grew 12% YoY, while the new energy business contributed ₹280 croreCurrent ₹280 crore. Reported change: +50% YoY. (1.5x YoY). EBITDA margin on a standalone basis was 11%Current reported value: 11%. No comparable prior figure is available in the source record., with lead-acid margins at 12.3% after adjusting for recycling benefits. Raw material cost inflation (lead, alloys, plastics) and a higher OEM mix pressured margins, partially offset by 5-6% price hikes. Management guided for mid-to-high single-digit growth in FY27 for lead-acid, with capex of ₹1,500-1,700 crore (mostly for new energy). The new energy business is progressing: customer qualification plant commissioning, ESS facility targeting Q4 FY27 production, and Giga 1 cell line expected in June 2027. Key risk: cost disadvantage vs. imported cells and reliance on policy support for localization.