ARE&M

Jan 19 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• AMARA RAJA ENERGY & MOBILITY LTD - GETS ORDER SEEKING TAX, PENALTY OF 110.3 MILLION RUPEES EACH

Source text: ID:nBSE6bN9cQ

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Dec 31 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• GETS TAX PENALTY FOR 44 MILLION RUPEES

Source text: ID:nBSEb15WyL

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Nov 6 (Reuters) - India's Amara Raja Energy and Mobility AMAR.NS reported a bigger-than-expected rise in second-quarter profit on Thursday, driven by increased demand from automotive manufacturers following India's tax reforms.

The company, which makes Amaron-branded car batteries, reported profit rose 25.6% to 3.02 billion rupees ($34.36 million) in the quarter ended September.

Analysts, on average, expected 2.12 billion rupees, according to data compiled by LSEG.

India announced tax cuts on hundreds of consumer items in September, ranging from soaps to small cars to spur domestic demand. As a result, Indian dealers' passenger vehicles and two-wheeler sales to customers recorded upbeat growth towards the end of the quarter.

Analysts noted that battery demand from original equipment manufacturers (OEMs) had risen following recent reductions in consumption tax.

Amara Raja, which counts top automakers, including Bajaj Auto BAJA.NS, Hero MotoCorp HROM.NS, Maruti Suzuki MRTI.NS as its clients, derives around 70% of its revenue from the automotive battery business.

The Hyderabad-based company's revenue from operations climbed 8% to 33.88 billion rupees.

The company, which also makes industrial batteries for sectors such as telecommunications and railways, said cost of materials consumed grew 11.8% in the quarter, pushing total expenses up by 10.5% to 31.29 billion rupees.

Analysts also noted that the company was affected by higher power costs.

Rival Exide Industries EXID.NS is yet to report its quarterly results.

($1 = 87.8950 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Janane Venkatraman)

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Aug 14 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• AMARA RAJA ENERGY & MOBILITY Q1 NET PAT 1.94 BILLION RUPEES; IBES EST 2.28 BILLION RUPEES

• AMARA RAJA ENERGY & MOBILITY Q1 REVENUE FROM OPERATIONS 33.5 BILLION RUPEES; IBES EST 33.93 BILLION RUPEES

Source text: [ID:]

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** Amara Raja Energy and Mobility AMAR.NS shares drop 3.8% to 189.5 rupees

** Battery maker's Q4 results: 27% profit drop; 10% climb in costs overshadows 6% revenue rise

** On avg, stock rated "hold" same as that of rival Exide EXID.NS - data compiled by LSEG

** YTD, AMAR down nearly 13% vs EXID's around 7% slide

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of battery makers Exide Industries EXID.NS and Amara Raja Energy AMAR.NS jump as much as ~5% before easing to ~1% gains

** Central Board of Direct Taxes includes lithium-ion batteries used in EVs, hybrids as core auto parts, which, say analysts, will bring tax advantages and boost sector's investment appeal

** "Move is beneficial for battery makers and the EV sector as it is expected to provide greater tax certainty," says Elara Capital

** EXID and AMAR are down 12.4% and 11.1% in 2025 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Amara Raja Energy & Mobility AMAR.NS falls 3.4% to 997.7 rupees

** Co on Sunday reported drop in Q3 EBITDA margin to 12.4% from year-ago 15%

** Post earnings call, Morgan Stanley says battery maker's management seeing continued margin headwinds in Q4 from currency depreciation, fuel purchase agreements

** J.P. Morgan lowers valuation of co's cell business from 278 rupees/share to 199 rupees/share on delay in co's gigafactory commissioning

** Motilal Oswal cautious about potential returns from co's lithium-ion initiative

** At least six brokerages, including J.P. Morgan and Motilal Oswal, cut PT after earnings call - LSEG

** Stock rated "hold" on avg

** AMAR down ~17% YTD

(Reporting by Manvi Pant in Bengaluru)

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** Shares of Indian battery makers rise as Finance Minister Nirmala Sitharaman says battery-related raw materials will be fully exempted from custom duties

** Shares of Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS up 3.4% and 3.6%, respectively

** Custome duty exemption proposed for cobalt powder and waste, scrap of lithium-ion battery, lead, zinc and 12 more critical minerals

** 35 additional capital goods for EV battery manufacturing will be added to list of exempted capital goods

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Amara Raja Energy & Mobility Ltd AMAR.NS rise as much as 4.5% to 1,274.95 rupees

** Battery maker says Hyundai Motor India Ltd HYUN.NS will equip its domestic product line-up with co's absorbent glass mat (AGM) battery technology

** Adds, HYUN aims to equip its models with AGM batteries in Q4 of FY 2024-2025

** Stock on track to snap six days of losses

** More than 544,000 shares traded as of 9:41 a.m. IST, vs their 30-day moving avg of 441,454 shares

** Mean rating of 14 analysts rating the stock is 'hold'; their median PT is 1,531.50 rupees - LSEG data

** AMAR last up 1.4%, adding to YTD gains of 51.7%

(Reporting by Meenakshi Maidas in Bengaluru)

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Dec 19 (Reuters) - Hyundai Motor Co 005380.KS:

• HYUNDAI MOTOR INDIA LTD - TO OFFER MADE-IN-INDIA AGM BATTERY

• HYUNDAI MOTOR INDIA LTD - TO EQUIP PRODUCTS WITH AMARON AGM BATTERIES

Source text: ID:nBSEbfz8c3

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** Shares of Amara Raja Energy & Mobility Ltd AMAR.NS drop 3.9% to 1,320.50 rupees

** Battery maker's Q2 profit grew 6.6% YoY, but was lower than analysts' expectation of a 15% increase, as per data compiled by LSEG

** Motilal Oswal says earnings miss driven by higher-than-expected other expenses, which offset unchanged raw material costs

** Analysts tracking AMAR rate it "hold" on average, same as rival Exide EXID.NS - LSEG data

** AMAR trims YTD gains to 63% but outperforms EXID's ~39% rise this year

(Reporting by Nandan Mandayam in Bengaluru)

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Nov 4(Reuters) - Indian battery maker Amara Raja Energy & Mobility AMAR.NS reported a 6.3% rise in second-quarter profit on Monday, aided by continued demand from automotive manufacturers.

The company's net profit rose to 2.41 billion rupees ($28.7 million) for the quarter ended Sept. 30, from 2.26 billion rupees a year earlier.

However, this is its slowest quarterly profit growth in a year as car manufactures moderated dispatches to dealers to help reduce high inventory during the quarter.

This also resulted in rival Exide Industries EXID.NS reporting a smaller-than-expected profit earlier in the day.

India's total vehicle production increased 9% in the September quarter, but slowed down sequentially from 16.1% in the first quarter, according to Society of Indian Automobile Manufacturers (SIAM), an industry body.

Amara Raja, which derives almost three-fourths of its revenue from its automotive battery business, counts top automakers including Bajaj Auto BAJA.NS, Hero MotoCorp HROM.NS and Maruti Suzuki MRTI.NS among its clients.

While Amara Raja's revenue from operations increased 11.6% to 31.36 billion rupees during the July-September period, this is its slowest growth since the December quarter.

Analysts say that the growth was driven by the company's aftermarket division - which includes replacing original equipment batteries - and a rise in its two-wheeler battery division.

Amara Raja's shares closed 2.2% lower ahead of its results. They have risen 68.4% so far this year, while those of Exide Industries EXID.NS jumped 40%.

($1 = 84.0840 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Sonia Cheema)

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** Shares of Indian motorcycle maker Bajaj Auto BAJA.NS fall 10% to 10,401 rupees; set for their worst day since March 2020, if losses hold

** Fall after BAJA's weak festive sales growth outlook at just 3%-5% against industry expectations of at least 8%

** BAJA top pct loser on Nifty auto index .NIFTYAUTO and Nifty 50 index .NSEI, which are down 2.8% and 0.5%, respectively

** Forecast drags rivals Hero MotoCorp HROM.NS and TVS Motor TVSM.NS down 3.7% and 4.7%, respectively

** Nifty auto index set for worst day since early Aug

** Tyre-makers CEAT CEAT.NS, MRF MRF.NS and Apollo Tyres APLO.NS fall between 0.4% and 2%.

** Battery makers Exide Industries EXID.NS and Amara Raja Energy & Mobility AMAR.NS fall ~2% each

** Auto-focussed lender Shriram Finance SHMF.NS falls 1.6%

(Reporting by Dimpal Gulwani in Bengaluru)

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July 16 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• APPELLATE TRIBUNAL ALLOWED APPEAL OF CO, SETS ASIDE TAX ORDER

Source text for Eikon: ID:nBSE2TnpsP

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** Shares of Amara Raja Energy & Mobility Ltd AMAR.NS rise as much as 19.5% to record 1,648.70 rupees

** Battery maker signs licensing agreement with China's Gotion 002074.SZ for Li-ion batteries used in EVs

** AMAR to get access to cell technology IP, support for establishing gigafactory; be integrated into Gotion's global supply chain network

** Stock set for best day since Jan 2008, if gains hold

** Around 4 mln shares traded, 1.3x the 30-day avg volume

** Analysts on avg rate both AMAR and rival Exide Energy Solutions EXID.NS as "hold" - LSEG data

** AMAR has risen two-fold this year vs EXID's ~89% YTD rise

(Reporting by Nandan Mandayam in Bengaluru)

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June 24 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• ANNOUNCES STRATEGIC TECHNOLOGY COLLABORATION WITH GOTION-INOBAT-BATTERIES

• COLLABORATION TO LICENSE TECHNOLOGY FOR PRISMATIC AND CYLINDRICAL CELLS FROM GIB

Source text for Eikon: ID:nBSE43Jhn3

Further company coverage: AMAR.NS

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** Shares of battery maker Amara Raja Energy & Mobility AMAR.NS rises 2.3% to 1,433 rupees

** Stock rose as much as 4.6% at open

** AMAR on Thursday said it invested a further 20 mln euros, which includes a subscription for an additional 4.5% equity stake, in European battery tech company InoBat AS

** Adds, after this investment, AMAR's total holding will be around 9.32% of its equity stake in InoBat AS

** Avg rating of 14 analysts equivalent of "hold", median PT is 1,200 rupees - LSEG data

** Stock up ~75% YTD

** Stock up 88.2% so far this quarter vs fall of 6.8% in March quarter

(Reporting by Ashish Chandra in Bengaluru)

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** Shares of Amara Raja Energy & Mobility AMAR.NS rise 10.7% to a fresh record high of 1,413.9 rupees

** Stock gained 29% in last three sessions, hitting a record high on Thursday

** Jayadev Galla, MD of Amara Raja, was a former MP from the local Telugu Desam Party (TDP), whose victory in general elections made it a key player in forming the national government; Galla did not contest in this election

** Stock up 21% so far this week, eyes best weekly gain since Aug. 17, 2012

** More than 8.1 mln shares change hands, 4.2x 30-day avg

** Analysts covering stock have "hold" rating on avg; AMAR currently trading at ~20% premium to median PT of 1,200 rupees - LSEG data

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Amara Raja Energy & Mobility AMAR.NS fall 2.7% to 1,213.8 rupees

** Battery maker's net profit rises ~62% to 2.28 bln rupees ($27.4 mln) in Q4, but misses analysts' avg estimate of 2.33 bln rupees, as per LSEG data

** Co hurt by 15% surge in total expenses

** Q4 rev from ops up 15% Y/Y but misses estimates too

** Thirteen analysts covering the stock on avg have a "hold" rating; median PT is 967 rupees - LSEG data

** Stock down 6.8% in March quarter

($1 = 83.3105 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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BENGALURU, May 28 (Reuters) - Indian battery maker Amara Raja Energy & Mobility AMAR.NS posted a rise in quarterly profit on Tuesday, helped by strong demand for its batteries from the automobile companies.

The company's standalone net profit rose nearly 62% to 2.28 billion rupees ($27.4 million) in the three months to March 31, still shy of analysts' average estimate of 2.33 billion rupees, according to LSEG data.

The automobile industry's requirement for batteries rose in the quarter as vehicle production increased more than 21% year-on-year, according to data from industry body Society of Indian Automobile Manufacturers (SIAM).

Amara Raja has top automakers, including Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS, and Hero MotoCorp HROM.NS, as its clients.

Revenue grew nearly 15% to 27.97 billion rupees, boosted by a 19% rise in the company's lead-acid batteries and allied products segment, which accounts for nearly all its revenue.

The segment also includes its industrial business, which benefitted from the expansion of India's 5G network, as Amara Raja also supplies batteries to telecom equipment manufacturers.

The company's expenses rose nearly 14%, led by increased inventory purchases. Raw material costs, including lead, a key input for battery makers, rose 2%.

Rival battery maker Exide Industries beat its fourth-quarter profit estimates last month.

($1 = 83.1768 Indian rupees)

(Reporting by Varun Hebbalalu in Bengaluru; Editing by Ravi Prakash Kumar)

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** Shares of Exide Industries EXID.NS up as much as 5.7% to 481.65 rupees; last up 4.2%

** The battery maker reported a 36.6% Y/Y rise in its Q4 PAT to 2.84 bln rupees ($34 mln), above analysts' average estimate of 2.72 billion rupees

** Revenue from operations rose 13.2%

** Average rating of 18 analysts covering the stock is "hold"; median PT is 350 rupees - LSEG data

** EXID up 48.4% YTD, outperforming its peers Eveready Industries India ERDY.NS and Amara Raja Energy & Mobility AMAR.NS which are up 0.52% and 37%, respectively

($1 = 83.4852 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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** Shares of battery maker Eveready Industries India ERDY.NS up 2.5% at 366.05 rupees

** ERDY posts March-qtr consolidated profit of 80.5 mln rupees ($965,025.32) vs loss of 143.9 mln rupees year ago

** Stock trading above its 50-,100-, 200-day moving avgs

** Analysts, on avg, rate ERDY "strong buy"; rivals Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS have "hold" rating - LSEG

** As of YTD, ERDY up 3.7%, AMAR 35% higher, EXID has risen 45%

($1 = 83.4175 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

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NEW DELHI, April 23 (Reuters) - Reliance Industries RELI.NS, JSW Neo Energy and Amara Raja Advanced Cell Technologies are among seven companies who have submitted bids to set up battery manufacturing gigafactory in India, the government said on Tuesday.

The companies have submitted bids to set up units to manufacture advanced chemistry cells with a total capacity of 10GWh under the government's production-linked incentive scheme.

India offers incentives to private firms with an aim of boosting local production. The scheme for battery manufacturing has a maximum outlay of 36.20 billion rupees ($434.41 million), the government said.

Battery energy projects are critical to India's plan to expand its renewable energy capacity to 500 gigawatts (GW) by 2030, from 178 GW at present.

India's oil-to-telecoms conglomerate Reliance, owned by the country's richest man, Mukesh Ambani, and power company JSW Energy's JSW Neo Energy were others who put their name in the hat.

Shares of Amara Raja Energy and Mobility AMAR.NS, whose unit Amara Raja Advanced Cell is one of the bidders, soared 15% to an all-time high after the announcement.

($1 = 83.3310 Indian rupees)

(Reporting by Tanvi Mehta, additional reporting by Nandan Mandayam in Bengaluru; editing by David Evans)

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** Shares of Amara Raja Energy & Mobility AMAR.NS rise 3% to 1,034.7 rupees, set for 4th consecutive session of gains

** Unit Amara Raja Infra bags 500 MW solar project from Greenko, Business Standard reports, citing news agency PTI

** Amara Raja Infra did not immediately respond to Reuters request for comment

** Over 3.1 mln shares change hands, 1.8x its 30-day avg

** 13 analysts covering AMAR have a "hold" rating; median PT is 885 rupees - LSEG data

** Stock has surged ~36% so far in April

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Amara Raja Energy & Mobility AMAR.NS rise as much as 10.4% to 963.45 rupees, their highest since Feb 2021

** Exide Industries EXID.NS rise as much as 9.5% to a record high of 448 rupees

** Reuters could not immediately ascertain a reason for stock move

** Exide has surged 40% in six sessions since it signed a deal to supply batteries to Hyundai 005380.KS and Kia 000270.KS for their EVs

** Nomura raised its PT on Exide to 485 rupees from 233 rupees

** Nomura expects 4W EV penetration in India to rise from 2% in FY24 to 20% by FY30F and demand for automotive battery cells to increase nearly 8x over that period

** Exide up ~47% YTD, while AMAR up ~18% vs ~17% gain in Nifty auto index .NIFTYAUTO

(Reporting by Sethuraman NR in Bengaluru)

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** Shares of batteries maker HBL Power Systems HBLS.NS rise as much as 3.4% to a record high of 554 rupees

** HBLS reports Q3 consolidated net profit jumping 3.3x Y/Y while income from ops rose 80% Y/Y

** Revenue from industrial batteries segment, which forms almost a third of co's income rose ~41%

** Co also approved investment of 1.75 bln rupees ($21.09 mln) for capital expenditure during FY25 including 600 mln rupees for lithium ion cell production plant

** Share price above 50-day, 100-day and 200-day exponential moving averages since Oct. 26

** Stock rose ~313% in 2023, its best yearly performance since 2007 listing

** Shares of rivals Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS rose 42.7% and 76.3%, respectively in 2023, while Eveready Industries India ERDY.NS fell 4.5%

($1 = 82.9700 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

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BENGALURU, Feb 6 (Reuters) - Battery maker Eveready Industries India ERDY.NS reported a 55% jump in third-quarter profit on Tuesday, helped by diminishing input costs.

Lithium prices, a key raw material for battery makers, were down in the quarter, helping offset beleaguered rural demand for batteries and flashlights.

Eveready's total expenses fell almost 9% to 2.95 billion rupees, led by a 29% decline in raw material costs. As a result, consolidated net profit rose to 84.1 million rupees ($1 million) in the three months to Dec. 31.

The softness in prices of battery-making metals also helped Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS post profit climbs in the third quarter.

While the two also make batteries, Amara Raja and Exide cater more to automobile and industrial needs while Eveready's products are for household use.

Eveready's revenue, however, fell almost 8% to 3.05 billion rupees.

"The pattern of softer rural consumption in key battery-flashlight segments and continuing industry phenomenon of value diminution in the lighting segment reflected the third-quarter performance," the company said in a statement.

($1 = 83.0310 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Janane Venkatraman)

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BENGALURU, Jan 31 (Reuters) - Indian battery maker Amara Raja Energy & Mobility AMAR.NS, formerly named Amara Raja Batteries, posted a bigger-than-expected rise in quarterly profit on Wednesday, helped by strong demand from the automobile sector.

The company's net profit after tax rose 7.6% to 2.40 billion rupees ($28.9 million) in the three months to Dec. 31, beating analysts' estimate of 2.19 billion rupees, according to LSEG data.

The automobile industry's requirement for batteries rose in the quarter as vehicle production increased 21% year-on-year, according to data from industry body Society of Indian Automobile Manufacturers.

Amara Raja has top automakers, including Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Hero MotoCorp HROM.NS, as its clients.

Revenue grew more than 9% to 28.81 billion rupees, boosted by a 12.7% rise in its lead acid batteries and allied products segment which accounts for nearly all its revenue.

The segment includes its industrial business, which benefitted from the expansion of India's 5G network, as Amara Raja also caters to telecom equipment manufacturers.

The company's expenses rose about 10%, while raw material costs rose a marginal 2.3%.

Prices of lead, a key input for battery makers, were down sequentially in the quarter.

Rival battery maker Exide Industries missed third-quarter profit estimates last week.

($1 = 83.0423 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Sohini Goswami)

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BENGALURU, Jan 24 (Reuters) - Indian battery maker Exide Industries EXID.NS reported a smaller-than-expected rise in quarterly profit on Wednesday as higher input costs ate into earnings, despite strong demand from the automobile sector.

Net profit after tax rose 7.7% to 2.40 billion rupees ($28.9 million) in the third quarter to Dec. 31, but missed analysts' estimate of 2.62 billion rupees, according to LSEG data.

Raw material costs climbed 11.6%, increasing total expenses by 13%, even though prices of key input lithium carbonate fell. The company did not specify which material costs increased.

As a result, Exide's earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin declined marginally to 11.5% from 11.8% a year earlier.

"Input cost inflationary pressures have started easing, which coupled with our cost optimisation initiatives is expected to support margins," CEO and MD Subir Chakraborty said in a statement.

Demand for batteries increased from the automobile industry as vehicle production rose in the October-December period.

That helped Exide log a 12.6% growth in revenue - the sharpest since the September 2022 quarter - to 38.41 billion rupees.

The automobile industry is key to Exide's earnings, accounting for more than two-thirds of its revenue.

Rival battery maker Amara Raja Energy & Mobility AMAR.NS will report its third-quarter results next week.

($1 = 83.1600 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Subhranshu Sahu)

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BENGALURU, Oct 31 (Reuters) - India's Amara Raja Energy & Mobility AMAR.NS on Tuesday reported a jump in second-quarter profit, as improved demand for its products helped offset higher expenses.

The Amaron battery maker's consolidated net profit after tax came in at 2.26 billion rupees ($27.2 million), up nearly 13% from a year ago.

Improved rainfall in September led to a recovery in rural demand, particularly for two-wheelers, analysts said, leading to increased battery sales for Amara Raja.

Amara Raja's clients such as Maruti Suzuki MRTI.NS have also boosted production as semiconductor supplies improved. Auto ancillary companies benefit from improved automobile production, which was hurt last year by chip supply chain issues.

The company's revenue rose over 9% to 29.59 billion rupees, boosted by a 6.5% climb in its lead acid batteries and allied products segment which accounts for nearly all its revenue.

The segment also includes its industrial business, which benefitted from expansion of India's 5G network, as Amara Raja also catering to telecom equipment manufacturers.

Expenses, however, rose 9.4%, led by a 7.6% increase in input costs. Average prices for key battery material lead increased 14% year-on-year.

The company plans to expand into the two-wheeler electric vehicle (EV) market, first through chargers and then batteries, as part of an expansion to triple its lithium-ion business this financial year, a top executive told Reuters in August.

Amara Raja is the first of India's major listed battery makers to report earnings. Shares of the company closed down 2.9% ahead of the results.

($1 = 83.2484 Indian rupees)

(Reporting by Varun Vyas and Manvi Pant in Bengaluru; Editing by Varun H K)

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