Amara Raja Energy & Mobility Limited — Investor Meet, 22-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Amara Raja reported Q1 FY26 consolidated revenue of INR 3,401 Cr (+4% YoY). Lead-acid growth was strong in 4-wheeler OEM and domestic aftermarket, but exports saw a decline. New Energy revenue hit INR 122 Cr, boosted by telecom lithium packs (over 100MW sales, >50% market share), despite an EV sector slowdown.

EBITDA margin (11.5%) was pressured by material costs and trading mix, with recovery anticipated as new plants ramp up. FY26 capex of INR 1,200-1,300 Cr is largely for New Energy, including a 1 GWh NMC cell gigafactory by FY27-end. Management is focused on BESS and adapting to EV market changes. Outlook is cautiously optimistic.