Q4 FY26 Financial Performance (Consolidated)

  • Revenue from Operations: INR 35,357 Mn
  • EBITDA: INR 3,855 Mn
  • EBITDA Margin: 10.9%
  • Profit Before Tax (PBT): INR 4,209 Mn (includes exceptional income)
  • Profit Before Exceptional Items & Tax: INR 2,398 Mn
  • Exceptional Income: INR 1,812 Mn (relates to insurance claim towards tubular plant)
  • Tax Expense: INR 1,066 Mn
  • Profit After Tax (PAT): INR 3,143 Mn
  • PAT Margin: 8.9%
  • Diluted EPS: INR 17.17
  • Other Comprehensive Income: INR 63 Mn
  • Total Comprehensive Income: INR 3,206 Mn

FY26 Financial Performance (Consolidated)

  • Operational Revenue: INR 1,38,140 Mn (7.5% YoY growth)
  • Total Expenses: INR 1,23,169 Mn
  • EBITDA: INR 14,971 Mn
  • EBITDA Margin: 10.8% (contracted 175 bps from 12.6% in FY25)
  • Other Income: INR 1,062 Mn
  • Depreciation: INR 6,072 Mn
  • Finance Cost: INR 445 Mn
  • Profit Before Exceptional Items & Tax: INR 9,516 Mn
  • Exceptional Income (Net): INR 2,553 Mn (includes INR 1,218 Mn & INR 1,812 Mn towards insurance claim on TBD plant)
  • PBT: INR 12,069 Mn
  • Tax: INR 3,111 Mn
  • PAT: INR 8,958 Mn (-5.2% YoY)
  • PAT Margin: 6.5% (87 bps lower than FY25)
  • Diluted EPS: INR 48.95
  • Total Comprehensive Income: INR 9,038 Mn

Standalone Financial Performance (FY26)

  • Revenue from Operations: INR 1,35,489 Mn
  • EBITDA: INR 15,442 Mn
  • EBITDA Margin: 11.4%
  • PAT: INR 9,704 Mn
  • PAT Margin: 7.2%
  • Diluted EPS: INR 53.02

Operational Highlights – Q4FY26 / FY26

Lead-Acid Business:

  • 4W OEM volumes sustained double-digit growth.
  • Inverter battery sales witnessed robust growth, with majority from in-house manufacturing.
  • Domestic aftermarket volumes registered stable growth.
  • Lead acid volumes in the telecom segment continued to decline as lithium solutions take over.

New Energy Business:

  • Cumulative supply of telecom lithium packs crossed 1 GWh during Q4FY26.
  • The quarter marked the highest-ever telecom supply of over 300 MWh.
  • Infused INR 1,500 crore into wholly-owned subsidiary ARACT (Amara Raja Advanced Cell Technologies) till March 2026.
  • Customer Qualification Plant is under commissioning and will be operational soon.

Capex Project Update - New Energy Business

  • Customer Qualification Plant (Divitipally): Commissioning under progress; full-scale operation expected in Q2FY27. Supports diverse form factors & multiple cell chemistries.
  • Giga-Cell Factory (Divitipally): Phase 1 (2 GWh) to commence in Q2-CY27. Planned capacity of 16 GWh by FY30.
  • E-Hub, Hyderabad: Expected to commence operation in Q2FY27. Capable of building both EV and stationary products and solutions.
  • The overall ambitious capex plan is INR 95 Bn for setting up the Giga Corridor in Telangana.

Business Overview & Subsidiaries

  • ARE&M: Core lead-acid battery business for automotive & industrial applications.
  • ARCSPL (Amara Raja Circulatory Solutions): Lead recycling with an eventual capacity of 150,000 MT/annum in Tamil Nadu.
  • ARACT (Amara Raja Advanced Cell Technologies): Entity for New Energy Business (Lithium Cell and Pack manufacturing, Energy Storage Solutions).
  • ARPSL (Amara Raja Power Systems): Wholly-owned subsidiary focused on power chargers and power electronics.

Manufacturing & Capacity

  • Lead-Acid: ~70 Mn units annualized capacity for automotive batteries; ~2.4 Bn Ah total industrial batteries capacity.
  • New Energy Pack Assembly: ~1.2 GWh capacity for stationary (Tirupathi) and ~1.5 GWh for mobility (Divitipally).
  • Recycling: Current lead refining capacity of 100,000 MT/annum, scaling to 150,000 MT/annum.

Growth Strategy

Lead-Acid Business (LAB): Focus on market share protection, brand strengthening, and channel efficiency. Expand into solar, home energy solutions, and international markets (Europe & Americas). Deepen presence in APAC and MEA.

New Energy Business (NEB): Strategy built on four pillars:

1. Technology: Establish E+ve Energy Labs and build strategic technology partnerships.

2. Customers: Develop standard and custom-built products for mobility, stationary, and BESS applications.

3. Supply Chain: Build strategic alliances for a sustainable and cost-efficient supply chain for Critical Raw Materials.

4. Talent: Recruitment of global talent and building deep tech expertise.

ESG & Sustainability Commitments

  • Committed to Net Zero by 2050 (SBTi aligned).
  • Reduced intensity of Scope 1 & 2 emissions by 36.8% in FY26 over FY22 baseline.
  • 21.5% Renewable energy share; 66.9 MW of captive renewable capacity.
  • Third-party certified 12X water positive organization.
  • 99% of manufacturing waste is recycled.
  • Ranked #1 in India in the Electrical Components & Equipment sector in the S&P Global ESG rating.
  • Released FY26 Integrated report along with BRSR and Sustainability Snapshot.

Capital Structure & Market Data

  • Market Cap: ~INR 123 Bn (As on Mar 31, 2026)
  • AA+ Credit Rating by CRISIL.
  • ROCE: ~12% (consolidated, FY26 end)
  • Shareholding: 34%+ Institutional Shareholders.

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