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    Amara Raja Energy & Mobility Limited

    India's largest lead-acid battery maker (Amaron); scaling lithium-ion cells & energy storage.

    Automobile and Auto Components
    Consumer Discretionary
    View ARE&M earnings calls
    ₹844.65
    +1.17% from avg

    Overview

    Price

    ₹844.65

    Market Cap

    ₹15.8k Cr

    Sector

    Automobile and Auto Components

    Consumer Discretionary

    Rank

    4

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital1717171718181818
    Reserves3.6k4.2k4.5k6.0k6.8k7.4k7.8k8.1k
    Borrowings8492126201157261286406
    Other Liabilities1.3k1.5k1.7k1.8k2.0k2.5k2.5k2.9k
    Total Liabilities5.0k5.8k6.4k8.0k9.0k10.2k10.6k11.4k
    AssetsFixed Assets1.8k2.5k2.5k3.7k3.8k4.0k3.9k4.7k
    CWIP8273998302496411.3k5411.7k
    Investments156280774277146822.3k464
    Other Assets2.2k2.7k3.0k3.5k3.8k4.2k3.9k4.6k
    Total Assets5.0k5.8k6.4k8.0k9.0k10.2k10.6k11.4k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating5411.2k8026339451.3k1.4k1.1k
    Cash from Investing-448-830-616-482-773-1.0k-1.1k-924
    Cash from Financing-92-364-122-213-112-242-160-126
    SummaryCapital Expenditure
    Free Cash Flow13477306-126435397159-220
    FCF Margin

    Valuation

    Assumptions

    Current — ARE&M
    Price
    ₹845
    EPS (TTM)
    ₹32.14
    PE (TTM)
    26.3
    Profit growth
    -5.6%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (22.3×) and current (26.3×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹845
    vs
    Fair value · 15% return
    ₹212
    75%Overvalued

    At -5.6% growth and a 22× exit, ₹845 only delivers your return if you pay ₹212. The price is currently baking in 21% growth.

    EPS grows -5.6%/yr for 5 years, then fades to 6% over 2, exits at 22×.

    YearGrowthEPS (₹)
    FY27-5.6%30.34
    FY28-5.6%28.64
    FY29-5.6%27.04
    FY30-5.6%25.52
    FY31-5.6%24.09
    FY320.2% ·fade24.14
    FY336.0% ·fade25.59

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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