AREM / Q2-FY26 / claim-ledger

Audit the questions that mattered.

Amara Raja Energy & Mobility · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ2-FY26 · 2025-11-06Back to quarter ↗

Questions audited

Answered directly

63%

Numeric claims

Consistency

mixed

Question ledger

What was answered, and how?

Rahul Andan · Noama Research

direct

Volume growth breakdown for lead-acid batteries by segment

OEM has grown by around 30% during the quarter whereas aftermarket on four-wheeler side is pretty stable. On two-wheeler side slight stable growth of around 1 to 2%. Telecom volumes declined by around 35%. UPS has gone by around 5%.

Rahul Andan · Noama Research

direct

Sustainability of EPR credits of 35 crores

This is a one-time provision. Going forward the impact on a monthly basis will not be more than a crore of rupees depending on sales volume. So this is not going to be a recurring expenditure.

Rahul Andan · Noama Research

evasive

Margin benefit from tubular plant, power cost, recycling plant

Manufacturing impact will only be felt in the next season. I wouldn't want to give absolute numbers in this call. The power issues got resolved except for LFCG duty issue. Scrap recycling will commence in January.

Rahul Andan · Noama Research

direct

Full year capex and lithium investment outlook

Lead acid will be around 500 to 600 crores. New energy may have to spend another 600 to 700 crores during the year. Next year lead acid may fall back to 350 to 400 crores and lithium about another thousand odds.

Adept Jaw · Invest

direct

Impact of China's equipment restrictions on lithium-ion cell

To the extent of the machinery that we have ordered so far for all three projects we don't see a challenge. We are also exploring alternatives from other geographies. There could be some minor delays but I don't see major challenge.

Adept Jaw · Invest

evasive

Timeline for LFP capacity expansion

There are internal timelines but I am unable to put a specific timeline now. I will come back to you with specific dates in the coming quarters.

Kabil Singh · Namura Holdings

direct

Reason for 30% OEM growth and sustainability

We had some good traction in some OEMs and production ramp up during September for festival season. I don't see this momentum will continue in coming quarters; we'll fall back to normal growth rates.

Kabil Singh · Namura Holdings

direct

Pricing action due to rising lead prices

As of now, no. We expect it will come back. But as of now we are yet to take any pricing action.

Vnavi Gurong · Craven Alpha Wealth Fund

partial

Expected growth for UPS business on annualized basis

Data centers will be helpful for lithium volumes but lead acid requirements on UPS side might be growing at a very slow pace.

Vnavi Gurong · Craven Alpha Wealth Fund

partial

Revenue guidance for FY26 consolidated

We have not been giving any specific guidance on the revenue. We expect lead acid pack revenue to grow anywhere between 8 to 10% in the next year.

Sorup Tachawa · Indent General Insurance

partial

Margin guidance for each business vertical

At entity level we aspire to move to 13% EBITDA margin and then back to original margin of 14% over a period of time.

Mihir Vora · Equirus

evasive

Quantification and reason for warranty provision increase

We have increased overall warranty provision. I don't have immediately the exact number. It was one of the reasons for quarter increase in expenditure.