ARE&M

Amara Raja Energy & Mobility share price & financials

Price
₹844.65
Market cap
₹17.3k Cr
Sector
Automobile and Auto Components
Calls analysed
7
Latest concall · Q1 FY27 · call held 11 Aug 2026

Amara Raja Energy & Mobility Limited Q1 FY27

Consolidated Revenue ₹4,215 cr +24%Standalone EBITDA Margin 10.1%

What went well

  • Consolidated revenue grew around 24% to INR4,215 crores in Q1 FY27.
  • New energy business demonstrated strong growth of more than 70%, reaching INR209 crores in revenue.
  • Automotive aftermarket volumes (4-wheeler and 2-wheeler) grew by around 15%.

What to watch

  • Standalone EBITDA margin was around 10.1% and consolidated margin stood at 9.6%, impacted by elevated material costs and increased strategic spending.
  • Automotive international revenue degrew by around 20% due to significant volume drop in the Middle East market.
Read the full call →

What Amara Raja Energy & Mobility Limited does

Amara Raja Energy & Mobility manufactures lead-acid batteries for automotive (2W/3W/4W/CV) and industrial (telecom, railways, UPS, solar, data centres) applications under the Amaron, PowerZone and Quanta brands, sold domestically and exported to over 70 countries. It earns through a large franchise/dealer distribution network and OEM supply contracts with automakers, plus a growing New Energy business (under wholly-owned subsidiary ARACT) making lithium-ion cells, battery packs and EV/AC-DC charging products. The company also runs a captive lead-recycling operation that feeds raw material back into its battery plants, and sells lubricants under the Amaron Hi-Life brand.

Segments

  • Lead Acid Battery (Automotive & Industrial)
  • New Energy Business (NEB)
Manufacturing facilities
14 facilities across Andhra Pradesh, Telangana and Tamil Nadu
Automotive battery capacity
~70 million units annualized
Industrial battery capacity
~2.4 billion Ah annualized
Export presence
70+ countries
Domestic automotive distribution network
17 branches, 1,500+ direct dealer partners, 100,000+ points of sale
Lead recycling capacity
100,000 MT/annum current, eventual capacity 150,000 MT/annum (Cheyyar, Tamil Nadu)
Founded 1985Employees 12,000 (FY26 (Mar 2026))

Guidance record · Q1 FY27

what the last two calls moved 18 tracked 1 delivered 2 missed 15 open
  • New Energy Revenue Share delivered said Q2 FY26 Promised: 5% by end of FY26 Q1 FY27: FY26 has concluded. The promise was achieved.
  • Export Volume Growth missed said Q3 FY25 Promised: Double Digit by year end FY25 Q1 FY27: Automotive international revenue degrew by around 20% YoY, continuing the negative trend.
  • EBITDA Margin at risk said Q4 FY25 Promised: 14% (Medium Term) Q1 FY27: Consolidated EBITDA margin fell to 9.6%, moving further away from the 14% medium-term target.

All 18 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 20.6%, net profit up 4.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue3,136 3,164 2,974 3,350 3,388 +8%3,351 +6%3,460 +16%4,041 +21%
EBITDA441 416 342 387 406 −8%374 −10%377 +10%407 +5%
Net profit241 312 167 194 302 +25%152 −51%322 +93%203 +5%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −21.3% 1Y

₹0.7k₹0.8k₹0.9k₹1.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 26 May 2026Q1 FY27 — 11 Aug 2026

1Y: ₹1,034.45 on 10 Sept 2025 → ₹813.9. High ₹1,051.7 (11 Sept 2025), low ₹672.45 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+8.1%
11 Aug
Q4 FY26
+0.7%
26 May
Q3 FY26
−5.5%
12 Feb
Q2 FY26
−0.9%
7 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 9.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 11.4%.

Year endingFY23FY24FY25FY26
Revenue₹10.4k Cr₹11.3k Cr₹12.4k Cr₹13.5k Cr
Operating profit₹1.4k Cr₹1.6k Cr₹1.6k Cr₹1.5k Cr
Operating margin13.2%14.4%13.1%11.4%
Interest₹24 Cr₹34 Cr₹42 Cr₹40 Cr
Depreciation₹437 Cr₹479 Cr₹491 Cr₹548 Cr
Net profit₹697 Cr₹906 Cr₹965 Cr₹970 Cr
Net margin6.7%8.0%7.8%7.2%
Cash from operations₹956 Cr₹1.3k Cr₹1.4k Cr₹1.3k Cr
Free cash flow₹492 Cr₹874 Cr₹631 Cr₹588 Cr
ROCE20.0%19.0%17.0%13.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹17 Cr₹17 Cr₹17 Cr₹18 Cr₹18 Cr₹18 Cr
Reserves₹4.2k Cr₹4.5k Cr₹6.0k Cr₹6.8k Cr₹7.8k Cr₹8.1k Cr
Borrowings₹92 Cr₹126 Cr₹201 Cr₹153 Cr₹286 Cr₹373 Cr
Other liabilities₹1.5k Cr₹1.7k Cr₹1.7k Cr₹1.9k Cr₹2.5k Cr₹2.6k Cr
Total liabilities₹5.8k Cr₹6.4k Cr₹7.9k Cr₹8.8k Cr₹10.6k Cr₹11.1k Cr
Fixed assets₹2.5k Cr₹2.5k Cr₹3.7k Cr₹3.5k Cr₹3.9k Cr₹3.9k Cr
Capital work in progress₹399 Cr₹830 Cr₹234 Cr₹322 Cr₹541 Cr₹588 Cr
Investments₹281 Cr₹78 Cr₹486 Cr₹1.5k Cr₹2.3k Cr₹2.6k Cr
Other assets₹2.7k Cr₹3.0k Cr₹3.5k Cr₹3.5k Cr₹3.9k Cr₹4.0k Cr
Total assets₹5.8k Cr₹6.4k Cr₹7.9k Cr₹8.8k Cr₹10.6k Cr₹11.1k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −2.05 pp while DIIs added +1.31 pp. The shareholder count shrank 6% to 8,18,619.

Promoters
32.9%
FIIs
17.3%
DIIs
15.3%
Public
34.5%

Since Jun 2025

  • FIIs −2.05 pp
  • DIIs +1.31 pp
  • Public +0.74 pp

How it drifted, 12 quarters

Over this window FIIs fell from 24.6% to 17.3% — −7.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 28.1%, FIIs 24.6%, DIIs 16.8%, Public 30.5%.Dec '23: Promoters 28.1%, FIIs 24.0%, DIIs 17.9%, Public 30.0%.Mar '24: Promoters 32.9%, FIIs 24.5%, DIIs 15.4%, Public 27.3%.Jun '24: Promoters 32.9%, FIIs 23.8%, DIIs 14.6%, Public 28.8%.Sep '24: Promoters 32.9%, FIIs 22.3%, DIIs 15.4%, Public 29.4%.Dec '24: Promoters 32.9%, FIIs 21.8%, DIIs 14.8%, Public 30.5%.Mar '25: Promoters 32.9%, FIIs 20.7%, DIIs 14.6%, Public 31.9%.Jun '25: Promoters 32.9%, FIIs 19.4%, DIIs 14.0%, Public 33.8%.Sep '25: Promoters 32.9%, FIIs 18.0%, DIIs 16.2%, Public 32.9%.Dec '25: Promoters 32.9%, FIIs 17.4%, DIIs 17.1%, Public 32.6%.Mar '26: Promoters 32.9%, FIIs 17.3%, DIIs 16.9%, Public 32.9%.Jun '26: Promoters 32.9%, FIIs 17.3%, DIIs 15.3%, Public 34.5%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Amara Raja Energy & Mobility Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Amara Raja Enterprises Private Limited (formerly RNGalla Family Private Limited) 32.86%unchanged
Nalanda India Equity Fund Limited FPI fund8.76%unchanged
Life Insurance Corporation Of India - P & Gs Fund Insurer7.97%−0.24 pp
Franklin India Small Cap Fund Mutual fund1.72%−0.39 pp
Sundaram Mutual Fund A/C Sundaram Value Fund Mutual fund1.22%−0.34 pp
Mangal Industries Limited 0.00%unchanged
Padmavathi Galla 0.00%unchanged
G V Ramakrishna Vara Prasad 0.00%unchanged
Harshavardhana Gourineni 0.00%unchanged
Vikramadithya Gourineni 0.00%unchanged
Ashok Galla 0.00%unchanged
Siddharth Galla 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in ARE&M

Filings to Aug 2026

1 new, 4 added, 1 trimmed, 0 sold out — net +4.03 L shares (+131.1%).

Held by funds
₹63 Cr
6 schemes
Biggest holder
Nippon India Value Fund
₹36 Cr · 0.4% of that fund
SchemeHoldingLast month
Nippon India Value Fund Nippon India Mutual Fund₹36 Crnew
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹17 Cr+0.02 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹9 Cr+0.01 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
SBI Nifty 500 Index Fund SBI Mutual Fund₹0 Cr−0.00 L
SBI Nifty Small Cap 250 ETF SBI Mutual Fund₹0 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 1 trimmed — net +4.03 L shares (+131.1%)

Funds are sitting on
-7%
vs est. average cost
Held by funds
₹63 Cr
6 schemes · ≈ 0.35% of the company
Biggest holder
Nippon India Value Fund
₹36 Cr · 0.4% of that fund
Longest holder
Nippon India Nifty Smallcap 250 Index Fund
4y 6m · since Mar '22

Shares held by these funds −85%

Aug '23 3.08 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹814, this stock must grow earnings at 14% every year for 7 years. Our analysis caps realistic growth at ~-4%. At that growth it is worth ₹303 — downside of 63%.

Growth the price implies
14.3% a year
for 7 years, fading to 4%
It has actually compounded at
-1.7% a year
net profit, FY23–FY26 · EPS -3.9%
The gap
0.2 pp
-63% downside if it only repeats history
Price today ₹813.9 Value at the reference growth ₹303.44

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Amara Raja Energy & Mobility Limited

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