Amara Raja Energy & Mobility Ltd
Amara Raja Energy & Mobility Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Domestic market expected to grow at least 1 percentage point ahead, with stable 5-6% industry growth. The company aims to improve EPS over time despite current margin headwinds caused by increased raw material costs (lead, alloys, acid).
From Amara Raja Energy & Mobility Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Domestic market expected to grow at least 1 percentage point ahead, with stable 5-6% industry growth.
- OEM business showing strong growth (~25% this quarter), aftermarket growth to reflect OEM growth in about 3 years.
- Export business targeted to grow at 10-15% CAGR, aiding overall margin improvement.
- Telecom lead acid volumes expected to decline due to lithium shift; telecom now less than 5% of revenue.
- 2-wheeler and 4-wheeler segments showing flat to modest growth, with some recent base effects.
- New Energy (lithium-ion) and battery energy storage (BESS) segments expected to grow, with 5 GWh capacity operational by FY27 and market size forecasted around 30 GWh in 4-5 years.
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Profitability & Margins
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Capital Expenditure Plans
- INR 280 crores planned capex for grid and commercial/industrial energy storage solutions (BESS), plant operational by end of FY '27.
- INR 200 crores infused in Q3 into Amara Raja Advanced Cell Technologies (lithium subsidiary), total lithium investment now INR 1,400 crores.
- YTD December capex around INR 950 crores: INR 600 crores towards lead acid business, INR 300 crores towards New Energy business.
- Anticipated full-year lead acid capex around INR 750 to 800 crores for FY '27.
- Future investments focused on lithium-ion cell manufacturing depend on achieving sufficient scale; capital-intensive with careful timing based on demand.
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Top-ranked in Auto Components
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
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Order Book & Pipeline
- The company is focusing on Battery Energy Storage Systems (BESS) with an expected market growth to about 30 gigawatt hours in 4-5 years.
- Multiple tenders for BESS are being floated, indicating evolving and growing demand.
- The current supply in BESS is less than 1 gigawatt hour, with gradual ramp-up expected.
- There's no specific mention of exact current orderbook size or pending orders volume.
- Company plans a 5 gigawatt hour capacity for BESS, targeting around 15% market share.
- BESS demand driven by solar power storage needs and government mandates for domestic content.
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Amara Raja Energy & Mobility Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹3.5K Cr, net profit ₹322 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Amara Raja Energy & Mobility Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Amara Raja Energy & Mobility Ltd Q3 FY26 results?
Domestic market expected to grow at least 1 percentage point ahead, with stable 5-6% industry growth. The company aims to improve EPS over time despite current margin headwinds caused by increased raw material costs (lead, alloys, acid).
What is Amara Raja Energy & Mobility Ltd share price analysis?
Amara Raja Energy & Mobility Ltd currently shows a neutral. The stock trades at a P/E of 26.8 with a market cap of ₹17,183 Cr. Investors should review the full earnings analysis for detailed insights.
Is Amara Raja Energy & Mobility Ltd planning capital expenditure?
INR 280 crores planned capex for grid and commercial/industrial energy storage solutions (BESS), plant operational by end of FY '27.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.