Amara Raja Energy & Mobility logo

Amara Raja Energy & Mobility

ARE&M NSE

Key Fundamentals

SmallcapAuto ComponentsAutomobiles
Market Cap
₹14,781 Cr
Volatility
Low Risk
P/E Ratio
15.21
EBITDA
₹1,603 Cr
Return on Equity
11.06%
Debt to Equity
0.05
Book Value
₹442.5
EPS
₹53.17
52W High
₹1,057.85
52W Low
₹670

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 20.0%

Weaknesses

1
  • Company has a low return on equity of 11.1% over last 3 years.

Growth Rate

Revenue Growth
7.39% lower than 3Y
Net Income Growth
-5.18% higher than 3Y
Cash Flow Change
-17.24% lower than 3Y
ROE
-13.46% lower than 3Y
ROCE
-14.19% higher than 3Y
EBITDA Margin (Avg.)
-13.77% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2h ago
AI opinion · based on fundamentals
Risk medium

Amara Raja Energy & Mobility trades at a market cap of ₹14,781 Cr with a PE of 16.3x and a dividend yield of 1.29%. The company is nearly debt-free and has delivered 13% TTM sales growth, but compounded profit growth has turned negative at -6% over three years while ROE has declined from a 10-year average of 14% to 8% in the last year.

Bull Case 7
  • Company is almost debt-free, providing significant financial flexibility and low interest burden in a capital-intensive sector
  • Consistent revenue compounder with 10-year sales CAGR of 11% and TTM sales growth accelerating to 13%
  • PE of 16.3x is moderate for an established auto-components player, offering reasonable valuation if profit growth recovers
  • Healthy dividend payout ratio of 20.0% with a current yield of 1.29%, indicating shareholder-friendly capital allocation
  • Price-to-book of 1.85x is undemanding for a market leader in the lead-acid battery segment with brand value and distribution network
  • 5-year compounded sales CAGR of 14% demonstrates the company's ability to grow through economic cycles including COVID disruption
  • 3-year stock CAGR of 8% suggests some recovery trend despite the sharp -21% correction over the last 1 year, potentially creating a lower entry base
Bear Case 7
  • Compounded profit growth is negative at -6% over both TTM and 3-year periods, signaling sustained margin compression
  • ROE has deteriorated sharply from a 10-year average of 14% to just 8% last year, indicating declining capital efficiency
  • Stock has delivered -21% returns over the past 1 year and a negative 10-year CAGR of -2%, reflecting long-term wealth erosion
  • Growing disconnect between sales growth (13% TTM) and profit decline (-6% TTM) suggests rising input costs or operational inefficiencies are eating into margins
  • 3-year ROE of only 11% is below the cost of equity for most investors, indicating the company is not generating adequate returns on capital
  • 5-year compounded profit CAGR of 0% means the company has made zero earnings progress over half a decade despite 14% sales CAGR in the same period
  • EV transition poses a structural threat to the core lead-acid battery business, requiring heavy capex into new-energy segments with uncertain returns

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 1
  • LFP battery cost gap vs China Aug 27

    India's LFP battery costs run 13-23% above China's levels due to dependence on imported cells. Domestic cell manufacturing is needed to bridge the gap, posing a near-term cost disadvantage for ARE&M.

Neutral 1
  • Active investor engagement schedule Sep 9

    ARE&M has scheduled multiple investor interactions: Sumitomo Mitsui DS Asset Management on Sep 15 at Hyderabad, an analyst/investor meet on Sep 11, and a virtual call with OysterRock Capital on Aug 28. No unpublished price-sensitive information to be shared.

TL;DR: A quiet period for ARE&M with no major operational or financial catalysts. The company is maintaining steady investor engagement through multiple scheduled meetings in late Aug-Sep 2026. The key risk flagged is India's 13-23% LFP battery cost premium over China, which underscores the urgency of domestic cell manufacturing buildout. Watch for progress on ARE&M's own cell manufacturing plans as a potential re-rating trigger.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,771
2,811
2,882
2,797
3,131
3,136
3,164
2,974
3,350
3,388
3,351
3,460
4,041
Expenses
2,402
2,401
2,447
2,389
2,701
2,695
2,748
2,632
2,963
2,982
2,976
3,083
3,634
Operating Profit
369
410
435
408
430
441
416
342
387
406
374
377
407
OPM %
13%
15%
15%
15%
14%
14%
13%
12%
12%
12%
11%
11%
10%
Other Income
22
28
24
28
26
18
140
20
14
146
-17
209
16
Interest
8
8
8
10
9
13
11
9
10
8
9
13
11
Depreciation
117
121
120
121
118
122
123
128
129
138
141
140
140
PBT
266
309
331
305
329
324
422
224
261
406
207
433
272
Tax %
25%
27%
24%
25%
26%
26%
26%
26%
26%
25%
27%
26%
26%
Net Profit
199
226
253
228
245
241
312
167
194
302
152
322
203
EPS in Rs
11.63
13.25
14.8
12.46
13.36
13.15
17.04
9.11
10.6
16.52
8.29
17.61
11.08
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,211
4,618
5,317
6,059
6,793
6,839
7,150
8,696
10,390
11,260
12,405
13,549
14,240
Expenses
3,507
3,793
4,465
5,174
5,838
5,741
6,033
7,666
8,939
9,635
10,771
11,998
12,675
Operating Profit
704
825
853
885
955
1,099
1,117
1,030
1,450
1,625
1,634
1,551
1,565
OPM %
17%
18%
16%
15%
14%
16%
16%
12%
14%
14%
13%
11%
11%
Other Income
41
44
47
65
43
55
86
71
27
98
199
344
353
Interest
0
6
6
5
7
12
11
15
30
33
42
41
41
Depreciation
134
141
191
230
261
301
319
396
450
479
492
548
559
PBT
610
723
702
714
730
841
873
690
997
1,211
1,299
1,307
1,318
Tax %
33%
32%
32%
34%
34%
21%
26%
26%
27%
25%
26%
26%
—
Net Profit
411
492
478
471
483
661
647
511
731
906
964
970
979
EPS in Rs
24.05
28.78
28.01
27.59
28.31
38.69
37.87
29.93
42.78
49.49
52.66
53.02
53.5
Div. Payout %
15%
15%
15%
15%
25%
28%
29%
15%
14%
20%
20%
20%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
17
17
17
17
17
17
17
17
17
18
18
18
Reserves
1,682
2,099
2,576
2,920
3,318
3,639
4,193
4,534
5,989
6,750
7,360
8,142
Borrowings
76
74
72
64
58
84
92
126
201
153
258
373
Other Liabilities
611
761
919
1,168
1,102
1,261
1,494
1,699
1,730
1,913
2,356
2,592
Total Liabilities
2,386
2,951
3,585
4,169
4,496
5,001
5,797
6,376
7,937
8,834
9,993
11,125
Fixed Assets
944
1,352
1,492
1,703
1,813
1,829
2,455
2,492
3,688
3,550
3,475
3,929
CWIP
86
123
240
226
315
827
399
830
234
322
844
588
Investments
16
20
147
35
20
156
281
78
486
1,479
1,998
2,585
Other Assets
1,340
1,456
1,706
2,204
2,348
2,188
2,662
2,976
3,529
3,483
3,676
4,023
Total Assets
2,386
2,951
3,585
4,169
4,496
5,001
5,797
6,376
7,937
8,834
9,993
11,125
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
395
555
553
322
541
1,177
802
633
956
1,314
1,375
1,340
Investing
-294
-387
-529
-236
-448
-831
-616
-482
-789
-1,072
-1,155
-1,265
Financing
-75
-164
-2
-138
-92
-364
-122
-213
-112
-242
-157
-126
Net Cash Flow
26
4
22
-52
1
-18
64
-62
55
0
64
-51
Free Cash Flow
-11
64
122
-64
13
477
306
-127
492
874
631
588
CFO/OP
83
94
89
64
82
129
90
81
84
101
104
106
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
48
47
39
47
41
34
40
33
27
33
34
31
Inventory Days
55
75
85
93
83
94
111
108
87
88
88
89
Days Payable
34
44
44
53
40
50
57
48
39
41
45
47
Cash Conversion Cycle
69
78
81
88
85
77
93
93
76
80
77
74
Working Capital Days
45
49
48
62
66
48
53
51
60
49
34
34
ROCE %
38%
36%
29%
25%
23%
23%
22%
16%
20%
19%
17%
13%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Promot.32.86%Public28.96%Others5.54%DIIs15.30%FIIs17.34%As ofJun 2026

Documents

Frequently Asked Questions about Amara Raja Energy & Mobility

What does Amara Raja Energy & Mobility Ltd do?
Amara Raja Batteries Limited [1] (ARBL), the flagship company of the Amara Raja Group, is the technology leader and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry. ARBL has prestigious OEMs as its c...
Where is Amara Raja Energy & Mobility Ltd (ARE&M) listed?
Amara Raja Energy & Mobility Ltd trades as ARE&M on the NSE and under code 500008 on the BSE.
Which sector does Amara Raja Energy & Mobility Ltd belong to?
Amara Raja Energy & Mobility Ltd is classified under the Automobiles sector, in the Auto Components industry.
What is the market capitalisation of Amara Raja Energy & Mobility Ltd?
Amara Raja Energy & Mobility Ltd has a market capitalisation of ₹14,781 Cr, which places it in the Mid Cap band.
What is the PE ratio of Amara Raja Energy & Mobility Ltd?
Amara Raja Energy & Mobility Ltd trades at a PE ratio of 15.21, on earnings per share of ₹53.17, against a book value of ₹442.5 per share.
What is the 52-week high and low of Amara Raja Energy & Mobility Ltd?
Over the last 52 weeks Amara Raja Energy & Mobility Ltd has traded between ₹670 and ₹1,057.85.
Does Amara Raja Energy & Mobility Ltd pay dividends?
Amara Raja Energy & Mobility Ltd has a dividend yield of 1.29%.
What is the Return on Equity (ROE) of Amara Raja Energy & Mobility Ltd?
Amara Raja Energy & Mobility Ltd reported a return on equity of 11.06%. Its debt-to-equity ratio is 0.05.

Company Information

Amara Raja Batteries Limited [1] (ARBL), the flagship company of the Amara Raja Group, is the technology leader and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry. ARBL has prestigious OEMs as its clients. The Company's Industrial and Automotive batteries are exported to over 50 countries across the globe. In India, Amara Raja is the preferred supplier to major telecom service providers, Telecom equipment manufacturers, UPS sector (OEM & Replacement), Indian Railways and to Power, Oil & Gas among other industry segments. Termination of Shareholders Agreement (tie up) with Johnson Control [2]

Website amararajabatteries.com
CEO Mr. Jayadev Galla
Employees 10,196
Listed 2003-09-05
Face Value ₹ 1
Issued Size 18,30,25,364

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