Amara Raja Energy

** Shares of India's Amara Raja Energy and Mobility AMAR.NS down 1.32% at 877 rupees

** Battery maker reported 93.2% y/y growth in Q4 profit, revenue rose 16.3% y/y

** JPMorgan ("neutral", PT raised to 925 rupees from 855 rupees) says rising raw material costs, challenges in technology transfer for lithium iron phosphate battery cells could weigh on execution, even as battery energy storage systems business gains traction

** Nomura ("neutral", PT: 942 rupees) says investors remain optimistic on the company's lithium-ion push, but risks around technology shifts, low returns in battery storage systems and margin pressure in the core lead-acid business remain elevated

** YTD, AMAR stock down 3.18%

(Reporting by Surbhi Misra in Bengaluru)

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** Battery maker Amara Raja Energy & Mobility AMAR.NS shares rise 2.5% to 905.35 rupees, building on gains from the previous session

** On Monday, co reported a 16.3% jump in fourth-quarter revenue from operations; profit after tax jumped 93.2%

** Declares dividend of 5.2 rupees/share

** "Geopolitical developments in key Middle East markets created certain challenges," Harshavardhana Gourineni, the company's executive director – automotive and industrial, said in a statement

** The lithium-ion battery market in India is expected to reach 908.01 billion rupees by 2030, expanding at a CAGR of ~22.72% during the 2025–2030 period, according to Netscribes

** AMAR trades at a forward 12-months PE of 17.74 vs industry median of 32.37

** Six of 13 brokerages rate the stock "Buy" or higher, 4 "Hold," and 3 "Sell" or lower; their median PT is 971 rupees - data compiled by LSEG

** YTD, stock down 0.4% vs 3.8% fall in Nifty 500 Index .NIFTY500

(Reporting by Abhinav Parmar in Bengaluru)

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BENGALURU, May 25 (Reuters) - Diary of India economic, corporate events on May 25

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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** Shares of India's Amara raja AMAR.NS up 5.71% to 815.7 rupees

** Battery maker is targeting 2027 for its first bulk production of lithium-ion cells, executive director Vikram Gourineni told The Economic Times in an interview

** Co to begin EV cell production at a megawatt-hour scale in 2026; aims 2 GWh bulk output from first gigafactory in 2027 and would predominantly serve electric two-wheeler segment, ET reports

** Trading vols at 3 million shares, about 6x the 30 day avg of 503,794 shares

** AMAR rated "hold" on avg by 12 analysts, median PT 950 rupees - data compiled by LSEG

** YTD stock down ~15%

(Reporting by Devika Nair in Bengaluru)

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April 21 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• AMARA RAJA ENERGY & MOBILITY- CROSSES 1 GWH LITHIUM STORAGE DEPLOYMENT IN INDIA’S TELECOM NETWORKS

Further company coverage: AMAR.NS

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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

Further company coverage: AMAR.NS

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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

Further company coverage: AMAR.NS

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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 8 (Reuters) - Amara Raja Energy and Mobility AMAR.NS, which makes the Amaron-branded car batteries, reported a bigger-than-expected drop in first-quarter profit on Thursday as weak demand from automakers and higher expenses hurt margins.

The Indian company reported a profit of 1.94 billion rupees ($22.2 million) in the April-June period, down 21% from 2.45 billion rupees a year ago.

Quarterly revenue rose 7% to 33.5 billion rupees, led by demand from customers replacing their batteries. However, expenses rose at a faster 10% pace.

Analysts at Motilal Oswal had flagged higher power costs for the company in a pre-earnings note.

The company which also produces industrial uninterruptible power supply units has struggled with weak sales to automakers at home over the last year.

The Hyderabad-based company is expanding into India's small, but growing electric vehicle segment, with the establishment of a cell-making factory that is expected to begin operations by 2027.

It currently assembles battery packs that are used in EVs.

Last week, rival Exide EXID.NS reported a higher profit on the back of replacement demand and as it kept costs under control.

($1 = 87.5980 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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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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Dec 20 (Reuters) - Slovak battery maker InoBat has raised 100 million euros ($104 million) in its latest funding round backed by its Chinese partner, battery cell maker Gotion High Tech 002074.SZ, it said on Friday.

The funding round, the largest ever for a technology company in Slovakia, also included contributions from the country's sovereign wealth fund, Lilium, Bromo Capital, IPM Group and Cielo Capital, and complemented an investment from strategic investors Amara Raja AMAR.NS and Rio Tinto RIO.L, it said.

WHY IT'S IMPORTANT

The news comes less than a month after Northvolt, the Swedish maker of battery cells for electric vehicles, filed for Chapter 11 bankruptcy protection in the U.S., raising concerns about the future of Europe's EV battery industry. The Swedish player said earlier this month that it was seeking to sell its electric industrial battery business by the year-end.

CONTEXT

Slovakia's Economy Minister Denisa Sakova had said in June that Gotion and InoBat would invest 1.2 billion euros to build an EV battery plant in Slovakia, in what would be the second biggest investment in the country's history.

Automobile production is major sector in Slovakia's economy.

Countries have lined up to win investment in the sector amid European efforts to boost its EV battery industry and reduce reliance on dominant Asian battery makers, despite slower-than-expected demand for electric vehicles.

KEY QUOTES

"Western Europe has been slow to react to the critical need for battery technology. Inobat has quietly gone about building both its own high performance cell technology and its pragmatic partnership with Gotion to produce cost effective cells," the chairman of InoBat's board, Andy Palmer, said.

WHAT'S NEXT

Over the next year, InoBat aims to ramp up production of European-designed battery cells, start an energy storage business in partnership with Gotion and launch another investment round to support scaling of its operations in Slovakia, Serbia and Spain and accelerating growth in new regions, it said.

($1 = 0.9639 euros)

(Reporting by Nick Carey, writing by Linda Pasquini; editing by Milla Nissi)

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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

Further company coverage: 005380.KS

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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

Further company coverage: AMAR.NS

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BENGALURU, June 25 (Reuters) - Indian shares were marginally higher at open on Tuesday, led by financial stocks, while the small-cap index jumped due to a 15% surge in Amara Raja Energy.

The NSE Nifty 50 index .NSEI was up 0.25% at 23,600 as of 09:23 a.m. IST, and the S&P BSE Sensex .BSESN increased 0.3% to 77,554.

The domestically focussed small-cap index .NIFSMCP100 jumped 1%, led by gains in Amara Raja Energy and Mobility AMAR.NS.

Amara Raja's shares advanced 15% after the battery maker signed a licensing agreement with a unit of China-based Gotion High Tech 002074.SZ to produce lithium-ion batteries in India.

Financial stocks .NIFTYFIN gained 0.4%, while metal stocks .NIFTYMET rose 0.5% and was the top sectoral gainer.

(Reporting by Sethuraman NR in Bengaluru; Editing by Savio D'Souza)

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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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