Amara Raja Energy & Mobility Limited (ARE&M)
₹708.40 +3.14% last close, 2 Nov
Snapshot
Amara Raja Energy & Mobility Limited closed at ₹708.40 on 2 Nov 2026, 15.0% below its 200-day average, with an RSI(14) of 39.3 and a P/E of 16.26. On the daily chart it is in a strong downtrend, with a technical score of 20/100 (strong bearish). In the quarter ended September 2026, revenue grew 18.5% and net profit fell 44.9% from a year earlier. Data as of 2 Nov 2026.
Price
- Price
- ₹708.40
- Day change
- +3.14%
- Market Cap
- ₹12,966 Cr
- 52-week range
- ₹670.00 – ₹1,023.00
- From 52-week high
- -30.75%
Financials2 Nov 2026
- P/E
- 16.26
- P/B
- 1.55
- ROE
- 9.6%
- ROCE
- 12.0%
- Debt to Equity
- 0.08
- OPM
- 10.0%
- YoY qtr sales growth
- 18.5%
- YoY qtr profit growth
- -44.9%
- Dividend Yield
- 1.50%
Latest quarter Sep 2026 · Consolidated
OwnershipSep 2026
- Promoters
- 32.86%
- Change on the quarter
- +0.00 pp
- FIIs
- 17.24%
- Change on the quarter
- -0.10 pp
- DIIs
- 14.93%
- Change on the quarter
- -0.37 pp
Shareholding for the quarter ended September 2026; changes in percentage points.
Technicals2 Nov 2026
- Trend
- Strong Downtrend
- Technical score
- 20/100 · Strong bearish
- MACD
- Bullish
- RSI (14)
- 39.31
- ADX (14)
- 45.15
- SuperTrend
- Bearish
- vs 20-day SMA
- -1.62%
- vs 50-day SMA
- -10.51%
- vs 200-day SMA
- -14.98%
- RS rating
- 22.00
- Nearest support
- ₹674.00
- Nearest resistance
- ₹715.00
Exchange activity2 Nov 2026
- Delivery
- 33.25% vs 49.52% average
- Volume vs its average
- 2.4×
Events
- Latest results
- Q2 FY27, filed 2 Nov 2026
- Ex-dividend
- ₹4.30 a share on 5 Nov 2026
Exchange data. Each figure as its own page shows it; the dates are the data's. Information only, not investment advice.
📈 Share price & events
Q2 FY27 results
Amara Raja Energy & Mobility Limited reported Q2 FY27 results on 2 Nov 2026: revenue ₹4,109 Cr (+18.5% year on year, -2.5% on the previous quarter), and net profit ₹152 Cr (-44.9% year on year); the operating margin was 8.8%.
| Q2 FY27 (₹ Cr) | Value | YoY vs Q2 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹4,109 | +18.5% | -2.5% |
| Operating profit | ₹362 | -3.4% | -10.9% |
| Net profit | ₹152 | -44.9% | -20.1% |
| EPS (₹) | 8.33 | -44.9% | -20.1% |
| Operating margin | 8.8% | — | — |
ARE&M delivery percentage
NSE end-of-day data for
On Mon, 2 Nov 2026, 33.25% of the ARE&M shares traded on NSE were taken to delivery, against the stock's own 20-session average of 49.52%. The price rose 3.14% on unusually low delivery, so more of the move than usual was intraday trading. It traded 2.4 times its average daily volume.
Delivery in the last 5 sessions: 49.4% · 41.6% · 39.3% · 62.2% · 33.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Amara Raja Energy & Mobility reported H1FY27 consolidated revenue of ₹8,323.3 crore with an EBITDA margin of 9.2%, down from 10.8% in FY26 due to elevated raw material costs and new strategic spending. In the New Energy Business, the company has infused ₹2,100 crore into its subsidiary ARACT to date. Additionally, the Board has approved establishing a 5 GWh LFP-based Cell Giga factory and scaling battery pack assembly capacity from 4 GWh to 9 GWh. Standalone H1FY27 revenue came in at ₹7,884.7 crore with an EBITDA margin of 10.1%.
- Consolidated H1FY27 revenue reached ₹8,323.3 crore (INR 83,233 Mn) with EBITDA margin moderating to 9.2%
- Standalone H1FY27 revenue stood at ₹7,884.7 crore (INR 78,847 Mn) with EBITDA margin of 10.1%
- Infused ₹2,100 crore into wholly owned subsidiary ARACT till date
- Board approval granted for a 5 GWh LFP cell Giga factory and expanding pack capacity from 4 GWh to 9 GWh
- New Energy telecom and EV pack revenue registered over 30% growth
Amara Raja Energy & Mobility reported a 13.4% YoY increase in standalone revenue from operations to ₹3,843.25 crore for Q2 FY27, compared to ₹3,388.18 crore in Q2 FY26. However, Profit Before Tax (PBT) fell 11.6% YoY to ₹250.71 crore from ₹283.76 crore, showing margin compression. The company declared an interim dividend of ₹4.30 per share and reported a standalone EPS of ₹10.29. Management highlighted double-digit domestic volume growth alongside temporary export constraints due to geopolitical shipping disruptions, while its BESS plant is slated to come online next month.
- Standalone revenue from operations rose 13.4% YoY to ₹3,843.25 crore in Q2 FY27
- Profit before Tax & Exceptional Items decreased 11.6% YoY to ₹250.71 crore
- Interim dividend of ₹4.30 per equity share declared; Q2 EPS at ₹10.29
- Domestic revenue grew over 10% supported by automotive OEM and aftermarket, while Industrial UPS grew over 7%
- Battery Energy Storage Systems (BESS) plant expected to become operational next month
Amara Raja Energy & Mobility's Board approved the incorporation of a wholly owned subsidiary, tentatively named 'Amaron Assist Private Limited', within 2 months in Telangana, India. The company plans to make an initial investment of up to ₹100 crore in one or more tranches via equity, loans, or other securities. The new entity will focus on automotive maintenance, battery services, vehicle care, and mobility assistance under the brand 'Amaron Assist'. The planned ₹100 crore commitment is modest relative to the company's financial profile, representing ~0.68% of TTM revenue (₹14,628 Cr) and ~1.23% of net worth (₹8,160 Cr).
- Board approved incorporation of a wholly owned subsidiary within 2 months in Telangana
- Initial investment commitment of up to ₹100 crores in one or more tranches
- Target entity will provide automotive, battery, and spares services under 'Amaron Assist'
- The planned ₹100 crore outlay represents ~0.68% of ARE&M's TTM revenue of ₹14,628 crore
- ARE&M will hold 100% equity in the proposed entity upon incorporation
Amara Raja Energy & Mobility announced that subsidiary ARACT has approved a ₹2,320 crore capex to scale battery pack capacity from 4 GWh to 9 GWh and build an LFP cell plant in Telangana over 30 months. The Board also declared an interim dividend of ₹4.30 per share (430% on ₹1 face value) with a record date of November 06, 2026. For Q2 FY27 (quarter ended Sep 30, 2026), consolidated revenue from operations reached ₹4,108.71 crore, up from ₹3,467.02 crore in Q2 FY26. Consolidated profit before tax stood at ₹208.52 crore compared to ₹364.82 crore in the prior year's quarter.
- Approved ₹2,320 crore capex via ARACT to expand pack capacity to 9 GWh and set up LFP cell manufacturing
- Declared interim dividend of ₹4.30 per equity share with record date on November 06, 2026
- Consolidated revenue rose to ₹4,108.71 crore in Q2 FY27 from ₹3,467.02 crore in Q2 FY26
- Capex execution timeline set for the next 30 months using a mix of debt and equity
Amara Raja Energy & Mobility Limited has appointed Mr. Preetam Ganguly as Chief Business Officer – Industrial, effective October 26, 2026. He succeeds Mr. Venkata Krishna M M, who will be superannuating in the coming months, initiating a planned succession transition. Mr. Ganguly brings nearly three decades of industry experience across Wabtec, Alstom, Bombardier, ABB, and most recently Cummins India Limited. The industrial segment is critical to ARE&M, which recorded TTM revenue of ₹14,628 Cr.
- Appointment of Mr. Preetam Ganguly as Chief Business Officer – Industrial effective October 26, 2026
- Current CBO – Industrial, Mr. Venkata Krishna M M, will superannuate in the next few months
- Incoming executive brings nearly 30 years of industrial experience from ABB, Bombardier, Alstom, Wabtec, and Cummins India
Amara Raja Energy & Mobility Limited has scheduled a Board of Directors meeting on Monday, November 2, 2026. The board will consider and approve the standalone and consolidated unaudited financial results for the quarter and half-year ending September 30, 2026. Additionally, the board will evaluate the declaration of an interim dividend for FY 2026-27. In compliance with SEBI insider trading norms, the trading window for designated persons will remain closed from October 1, 2026, to November 4, 2026.
- Board meeting scheduled for Monday, November 2, 2026
- Agenda includes Q2 and H1 FY27 financial results ending September 30, 2026
- Board to consider declaration of interim dividend for FY 2026-27
- Trading window closed from Thursday, October 1, 2026, to Wednesday, November 4, 2026
Amara Raja Energy & Mobility Limited has scheduled an in-person meeting with Sumitomo Mitsui DS Asset Management (Hong Kong) Limited on September 15, 2026, at 10:00 AM IST. The meeting will take place at the company's Hyderabad office. The company confirmed that no presentation will be made and no Unpublished Price Sensitive Information (UPSI) will be shared.
- In-person meeting scheduled for September 15, 2026, at 10:00 AM IST
- Meeting arranged with Sumitomo Mitsui DS Asset Management (Hong Kong) Limited
- Venue confirmed as the company's Hyderabad office
- No investor presentation or Unpublished Price Sensitive Information to be shared
Amara Raja Energy & Mobility Limited has informed the exchanges regarding a scheduled virtual investor meeting with Tata Mutual Fund. The meeting is set to take place on September 11, 2026, at 03:30 PM IST. The company stated that no presentation will be made and no unpublished price sensitive information (UPSI) will be discussed.
- Virtual meeting scheduled with Tata Mutual Fund on September 11, 2026
- Meeting timing confirmed for 03:30 PM IST
- No formal presentation will be delivered during the session
- Company affirmed that no Unpublished Price Sensitive Information (UPSI) will be shared
Amara Raja Energy & Mobility Limited has informed the exchanges regarding its scheduled participation in an investor conference. The company will participate in-person at 'Ashwamedh - Elara India Dialogue 2026', organised by Elara Capital, in Mumbai on September 3, 2026, at 10:00 AM IST. The company confirmed that no separate presentation will be made and no unpublished price-sensitive information will be shared during the interactions.
- Participating in-person at 'Ashwamedh - Elara India Dialogue 2026' organised by Elara Capital
- Scheduled date and time: September 03, 2026, at 10:00 A.M. IST in Mumbai
- No presentation will be made and no UPSI will be shared during the meeting
Amara Raja Energy & Mobility Limited has notified stock exchanges regarding a scheduled virtual meeting with institutional investor OysterRock Capital. The meeting is set to take place on August 28, 2026, at 04:00 PM IST. The company confirmed that no presentation will be made and no unpublished price-sensitive information (UPSI) will be discussed.
- Virtual investor meeting scheduled with OysterRock Capital on August 28, 2026
- Meeting timing confirmed for 04:00 PM IST
- No formal corporate presentation will be made during the session
- No Unpublished Price Sensitive Information (UPSI) will be shared
Amara Raja Energy & Mobility reported a 24% YoY increase in Q1 consolidated revenue to ₹4,215 crore, supported by a 22% expansion in the core lead-acid business and a 70% surge in the new energy segment to ₹209 crore. Consolidated EBITDA margin stood at 9.6%, moderated by raw material inflation (sulfuric acid, poly, alloys) and strategic spending, prompting a 3% price hike in June with another 2-3% hike underway. The company reaffirmed an FY27 capex plan of ₹1,700 crore (₹450 crore incurred in Q1), predominantly allocated toward its Giga 1 and BESS projects. In a key regulatory clearance, the Andhra Pradesh Pollution Control Board revoked its April 2021 closure order on July 18, 2026.
- Q1 consolidated revenue rose 24% YoY to ₹4,215 crore, led by a 70% growth in the New Energy segment to ₹209 crore.
- Consolidated EBITDA margin stood at 9.6% (standalone at 10.1%), impacted by ~0.9% due to brand/pilot investments and elevated raw material costs.
- Management implemented a 3% price hike in June 2026 and announced an additional 2% to 3% hike across segments.
- Total FY27 capex guided at ₹1,700 crore (11.6% of TTM revenue), with ₹1,300 crore dedicated to New Energy projects and ₹450 crore spent in Q1 FY27.
- APPCB revoked the April 30, 2021 closure order on July 18, 2026, leading to the withdrawal of the writ petition before the AP High Court.
Amara Raja Energy & Mobility (ARE&M) has released the audio recording of its earnings call held on August 11, 2026. This follows the company's TTM performance showing revenue of Rs 13,814 Cr and a PAT of Rs 895 Cr. The call provides management's qualitative commentary on the massive Rs 9,500 Cr Li-ion giga factory investment, which is central to their transition into the EV battery space. Investors can access the recording to understand the roadmap for the New Energy segment, which is targeted to contribute 7-8% of revenue by FY27.
- Audio recording of the earnings call held on August 11, 2026, is now publicly available.
- Company is currently executing a Rs 9,500 Cr investment plan for a Lithium-ion giga factory.
- TTM Revenue stands at Rs 13,814 Cr with an operating profit margin of 10.8%.
- New Energy segment is projected to reach 7-8% of total revenue by FY27.
- Promoter holding remains stable at 32.86% as of June 2026.
Amara Raja Energy & Mobility Limited (ARE&M) concluded its 41st Annual General Meeting on August 10, 2026, with shareholders approving all eight resolutions. A final dividend of ₹5.20 per share for FY26 was ratified, following the record date of August 3, 2026. Notably, while all resolutions passed, there was significant institutional dissent (~37.1%) regarding the re-appointment and remuneration of Executive Directors Harshavardhana and Vikramadithya Gourineni. The company reported a total shareholder base of 8,30,789 as of the cut-off date.
- Final dividend of ₹5.20 per share approved for the financial year ended March 31, 2026
- Institutional investors cast 37.14% of their votes against the re-appointment of Executive Director Harshavardhana Gourineni
- Total of 8 resolutions passed, including adoption of FY26 financial statements and cost auditor ratification
- 8,30,789 shareholders were on record as of the August 3, 2026 cut-off date
- 63 shareholders attended the meeting via video conferencing, including 1 from the promoter group
ARE&M reported a consolidated revenue of Rs 4,214.5 Cr for Q1 FY27, showing strong volume growth in domestic aftermarket and OEM segments. However, EBITDA margins compressed to 9.6% from 10.8% in FY26 due to elevated raw material costs and strategic brand spending. The company has infused Rs 1,900 Cr into its advanced cell technology subsidiary (ARACT) as part of its massive Rs 9,500 Cr New Energy capex plan. Construction has officially commenced on the 10GWh BESS Giga factory, while the New Energy segment revenue grew by over 50%.
- Consolidated Q1 FY27 revenue reached Rs 4,214.5 Cr, representing ~30% of TTM revenue in a single quarter.
- EBITDA margins moderated to 9.6% in Q1 FY27, down from 12.6% in FY25, impacted by raw material costs.
- Rs 1,900 Cr total capital infused into ARACT subsidiary to date for the Li-ion Giga Corridor project.
- New Energy segment revenue grew by >50% YoY, supported by telecom and EV battery pack supplies.
- Lead recycling capacity currently stands at 100,000 MT/annum with plans to expand to 150,000 MT/annum.
Amara Raja Energy & Mobility (ARE&M) has approved an additional investment of Rs 500 Cr in its subsidiary, Amara Raja Advanced Cell Technologies (ARACT), raising the total approved limit for Gigafactory development to Rs 2,500 Cr. Additionally, Rs 50 Cr was approved for Amara Raja Power Systems Ltd to support operational and manufacturing needs. This combined incremental commitment of Rs 550 Cr represents approximately 6.7% of the company's current Net Worth (Rs 8,160 Cr). The move reinforces the company's stated strategy to invest Rs 9,500 Cr in Lithium-ion cell manufacturing.
- Additional Rs 500 Cr approved for Amara Raja Advanced Cell Technologies (ARACT) for Gigafactories.
- Total approved investment for ARACT now stands at Rs 2,500 Cr, up from the previous Rs 2,000 Cr.
- Additional Rs 50 Cr approved for Amara Raja Power Systems Limited, doubling the previous Rs 50 Cr limit.
- Total incremental investment of Rs 550 Cr approved by the Board on August 10, 2026.
Company profilewritten 13 Dec 2025
Financial Performance
Revenue Growth by Segment
Overall revenue grew 19% YoY in fiscal 2023 to INR 10,398 Cr, driven by double-digit volume growth in automotive and industrial battery divisions which contribute over 90% of total revenue. H1 FY24 revenue reached INR 5,755 Cr, a 8.1% increase from INR 5,321 Cr in H1 FY23.
Geographic Revenue Split
Not disclosed in available documents, though the company notes demand is spread across India while exports are being expanded into newer geographies to reduce domestic sector vulnerability.
Profitability Margins
Profit After Tax (PAT) margin improved from 5.9% in FY22 to 6.6% in FY23. Net profit for FY25 was INR 963.90 Cr compared to INR 905.86 Cr in FY24, representing a 6.4% YoY increase.
EBITDA Margin
Operating profitability improved to 13.6% in fiscal 2023 from 12.3% in fiscal 2022. Management targets a near-term EBITDA margin of 13% and a long-term goal of 14% as internal efficiency projects and recycling initiatives scale.
Capital Expenditure
Planned total expansion of INR 9,500 Cr for the ARACT giga factory over 10 years. Near-term annual capex is projected at INR 1,100-1,200 Cr for the next 2-3 years, including INR 400 Cr for lead recycling and up to INR 1,500 Cr for Phase-I of the Li-ion giga factory.
Credit Rating & Borrowing
Maintains a 'Stable' outlook from CRISIL with robust debt metrics; interest coverage was 65.4 times in FY23. Borrowing costs are low as the company maintains a gearing of 0.01 to 0.02 times, relying primarily on internal accruals.
Operational Drivers
Raw Materials
Lead and Lead Alloys are the primary raw materials, accounting for over 80% of total input material value.
Key Suppliers
Not disclosed in available documents; however, 50% of critical suppliers were assessed on environmental impacts in FY23.
Capacity Expansion
Expanding into Lithium-ion cell manufacturing with a planned giga factory (ARACT). Lead recycling capacity is being expanded via a INR 400 Cr Phase-I facility at ARCSPL. Tubular battery manufacturing is being restored following a fire accident in FY23.
Raw Material Costs
Lead prices are currently elevated at approximately INR 210,000 per metric ton. Raw material costs are a significant driver, with the company aiming to increase lead recycling to 80%+ to mitigate price volatility.
Manufacturing Efficiency
Capacity utilization for the tubular plant is expected to reach full capacity in Q4 FY24. The company is focusing on internal efficiency projects to return to a 14% EBITDA margin.
Logistics & Distribution
Geographic concentration in Andhra Pradesh restricts distribution logistics, increasing the cost of reaching demand centers spread across the country.
Strategic Growth
Expected Growth Rate
15-20%
Growth Strategy
Growth will be driven by a INR 9,500 Cr investment in a Li-ion giga factory, expanding the New Energy segment to 7-8% of revenue by FY27, and the acquisition of the plastic component division from Mangal Industries Ltd to capture operational synergies.
Products & Services
Lead-acid batteries (VRLA), Lithium-ion battery packs, EV chargers, automotive aftermarket batteries, industrial batteries for telecom/UPS, and plastic components.
Brand Portfolio
Amaron, PowerStack, Quanta.
New Products/Services
Lithium-ion cells and battery packs for EVs, and EV charging infrastructure, with New Energy expected to contribute 5% of revenue by end of FY25.
Market Expansion
Targeting export growth in newer geographies and increasing market share in the automotive aftermarket and 5G telecom infrastructure segments.
Market Share & Ranking
Established market leader in the domestic battery segment, particularly in automotive and industrial VRLA batteries.
Strategic Alliances
Acquisition of Amara Raja Power Systems Ltd (ARPSL) and the plastic component division of Mangal Industries Ltd (MIL) to integrate the supply chain.
External Factors
Industry Trends
The industry is shifting toward green energy and e-mobility. ARE&M is positioning itself by transitioning from a lead-acid battery player to an 'Energy & Mobility' company through its Li-ion giga factory and EV charger business.
Competitive Landscape
Intense competition in the telecom segment from infrastructure players and in the automotive aftermarket from small-to-mid-sized organized players offering competitive pricing.
Competitive Moat
Strong brand equity (Amaron), a dominant position in the replacement market, and a robust financial profile with near-zero debt (0.01 gearing) provide a sustainable competitive advantage over smaller organized and unorganized players.
Macro Economic Sensitivity
Highly sensitive to the domestic automotive cycle and industrial growth; however, diversified segments (UPS, Telecom, Exports) provide a buffer against specific sector downturns.
Consumer Behavior
Increasing consumer preference for maintenance-free batteries and the gradual shift toward electric vehicles (EVs) impacting long-term lead-acid demand.
Geopolitical Risks
Exposure to global lead price volatility and potential trade barriers affecting export growth in new geographies.
Regulatory & Governance
Industry Regulations
Subject to Battery Waste Management Rules (BWMR) 2022, requiring 80%+ lead recycling and 50% collection rates. Operations are also subject to environmental pollution norms in Andhra Pradesh.
Environmental Compliance
The company is investing INR 400 Cr in lead recycling to comply with Battery Waste Management Rules (BWMR) 2022 and has a goal to reduce LTIFR by 60% by FY24.
Taxation Policy Impact
Effective tax expense for FY25 was INR 335.25 Cr on a profit before tax of INR 1,299.15 Cr, representing an effective tax rate of approximately 25.8%.
Legal Contingencies
Pending litigation regarding the operation of two plants in Andhra Pradesh; any adverse ruling impacting these plants is a key monitorable. Leasehold land in Chittoor involves a value of INR 25.85 Cr.
Risk Analysis
Key Uncertainties
Potential for material time or cost overruns in the INR 9,500 Cr giga factory project and volatility in lead prices impacting the 13-14% EBITDA margin target.
Geographic Concentration Risk
100% of manufacturing operations are concentrated in Andhra Pradesh, exposing the company to state-specific regulatory and logistical risks.
Third Party Dependencies
Significant dependency on lead suppliers, though the company is mitigating this by increasing in-house recycling to 80%.
Technology Obsolescence Risk
High risk of lead-acid technology being superseded by Lithium-ion; the company is mitigating this via its 'New Energy' strategic pivot and giga factory investment.
Credit & Counterparty Risk
Maintains high-quality receivables; the company has been sanctioned working capital limits in excess of INR 5 Cr based on the security of current assets.
