Amara Raja Batteries Limited Reports 12.1% Growth In Revenue
Amara Raja Batteries Limited has reported a revenue of Rs 1,566.73 crore in Q4 FY 19 (Rs 1580.74 crores) with a growth of (-0.9%) and profit after tax (PAT) of Rs. 119.34 crores (Rs 109.80 crores). The Earnings Per Share (EPS) for Q4 was at Rs. 6.99
The Company reported for the financial year 2018-19 a revenue of Rs. 6,793.11 crores (Rs 6,059.15 crores) with a growth of 12.1% and profit after tax (PAT) of Rs.483.49. crores (Rs 471.32 crores) The Earnings Per Share (EPS) for FY 2018-19 was at Rs. 28.31
The Board of the Company amended the Dividend Distribution Policy and enhanced the dividend payout limit from existing “15%” to “30%” of PAT (excluding corporate dividend tax). The Board recommended a final dividend of Rs. 5.08per share (face value of Re. 1/- each) at 25% of PAT, subject to the approval of the shareholders at the ensuing Annual General Meeting. In November 2018, the Board declared and paid an interim dividend of Rs. 2 per equity share of ` 1 each (200%). The total dividend for the financial year ended March 31, 2019, including the proposed final dividend amounts to Rs. 7.08 per share, which is line with the revised dividend distribution policy of the Company.
Commenting on the Q4 performance, Mr. Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited said, “We are tracking our growth plans with significant investments into capacity and capability building across various products and process technologies for meeting market demand including the emerging opportunities in renewable energy and Electric Mobility. We will continue to pursue opportunities for strategic partnerships that will be complimentary to our vision and growth objectives.”.
S. Vijayanand, CEO, Amara Raja Batteries Limited commented, “With continuous growth in Automotive segment and demand for industrial batteries picking up in international markets we have further strengthened our operations by opening up our first overseas subsidiary in UAE and are in line with our expansion plan with other markets. We have commissioned the stamped grid technology facility for two wheeler battery manufacturing. The advanced stamped grid technology project for four wheeler batteries is progressing as per scheduled timelines and will be commissioned during FY20.”.
