Amara Raja Ener.
Amara Raja Ener. Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY27 earnings call: what management guided on revenue, margins and order book.
What the Q1 FY27 call signalled
3 of 4 strong
Not discussed on this call: order book.
The short version
Lead acid business volume growth expected at lower double-digit levels for two-wheelers and around 7%-8% for four-wheelers. Lead acid business volumes expected to grow in lower double digits for two-wheelers (~7-8% for four-wheelers), with overall industry volume growth around 9-10% medium-term.
From Amara Raja Ener.'s Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Revenue & Sales Performance
- Lead acid business volume growth expected at lower double-digit levels for two-wheelers and around 7%-8% for four-wheelers.
- Overall lead acid battery business, including industrial, mobility, and exports, could achieve revenue growth rates of 9%-10% in the medium term.
- Growth estimates primarily volume-driven; price pass-through to customers varies between B2B and B2C segments.
- Lithium-ion (new energy) segment growing rapidly, with telecom and EV packs showing volume growth over 50% year-on-year.
- New energy business expected to require INR1,700 crores capex in FY27, primarily towards gigafactory and BESS plants.
- BESS segment capacity planned at 10 GWh with expected ramp-up leading to utilization around 5 GWh within 6 months post-completion.
- Market share target of 15%-20% in lithium cells maintained, though capacity milestones may adjust with demand and product mix shifts.
- Growth in energy storage system (ESS) cells prioritized over standard EV cells due to quicker demand uptake.
Profitability & Margins
See what Amara Raja Ener. said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Current capex includes INR1,700 crores planned outlay, with around INR450 crores spent in Q1 FY27, majorly towards new energy business and lead acid recycling capex.
- Upcoming Giga 1 plant to commercialize during H1 FY28.
- 10-gigawatt hour capacity and E Positive plant also part of capex plans.
- Future capex options include continued funding by the holding company, within debt-to-equity limits, or exploring other funding options based on business case specifics.
- Considering a 16-gigawatt lithium-ion capacity target by FY30, though timings and capacity may adjust based on demand and product mix.
- BESS project capital outlay estimated at INR250-300 crores for a 10-gigawatt hour plant, expected to ramp up within 6 months after commissioning.
- R&D investment of INR100-150 crores planned for lithium cell development in the current year.
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Amara Raja Ener. said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- For the BESS (Battery Energy Storage System) business, there is reasonable visibility with major EPC players installing projects for various power generating stations in India.
- There is a reasonable order book in India for BESS, with potential export opportunities as the market develops.
- The company expects to ramp up to about 5 gigawatt-hour utilization within 6 months post commissioning of the BESS plant.
- For lithium-ion cells, customer qualification plants and sample supplies are starting, indicating pending customer approvals especially for telecom stationary applications.
- There is no explicit numeric disclosure on total pending orders or order book value, but demand visibility is strong enough for planned capacity ramp-up.
- In industrial and telecom segments, ongoing growth and market share retention indicate steady order inflow.
- Automotive international exports have seen a temporary dip but expect recovery, implying pending or upcoming orders.
Amara Raja Ener. — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹3.5K Cr, net profit ₹322 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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Frequently Asked Questions
What were Amara Raja Ener. Q1 FY27 results?
Lead acid business volume growth expected at lower double-digit levels for two-wheelers and around 7%-8% for four-wheelers. Lead acid business volumes expected to grow in lower double digits for two-wheelers (~7-8% for four-wheelers), with overall industry volume growth around 9-10% medium-term.
What is Amara Raja Ener. share price analysis?
Amara Raja Ener. currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 21.4 with a market cap of ₹16,834 Cr. Investors should review the full earnings analysis for detailed insights.
Is Amara Raja Ener. planning capital expenditure?
Current capex includes INR1,700 crores planned outlay, with around INR450 crores spent in Q1 FY27, majorly towards new energy business and lead acid recycling capex.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.