Amara Raja Energy & Mobility Limited Earnings Summary — Q1 FY2027

• Consolidated revenue grew 23.9% YoY to ₹4,214.54 crores, driven by a recovery in lead-acid battery volumes and growth in the new energy segment.
• Net profit after tax rose to ₹190.94 crores compared to ₹164.80 crores in the same quarter last year, a 15.8% YoY increase.
• The New Energy business segment contributed ₹209.30 crores to revenue, representing approximately 5% of the total consolidated revenue.
• Profitability faced pressure from significantly higher cost of materials consumed, which jumped to ₹2,352.10 crores from ₹1,800.68 crores YoY.
• APPCB closure orders for the company's major plants in Andhra Pradesh were officially revoked on July 18, 2026, resolving a long-standing regulatory risk.
• The company continues its aggressive capital expenditure, infusing ₹150 crores into its wholly-owned subsidiary, Amara Raja Advanced Cell Technologies (ARACT), during the quarter.

Management expects to maintain a capex cycle of ₹1,500 crores to ₹1,700 crores for FY2027, with the majority (₹1,100-1,200 crores) allocated to New Energy initiatives. They aim for the first 2GWh cell manufacturing line to start production by June 2027.

Improving

The resolution of the long-standing APPCB closure orders and robust revenue growth in the core lead-acid business provide a clearer path for execution, despite raw material price volatility.

The outlook is anchored on the 'Giga Corridor' infrastructure and scaling lithium-ion cell production. While traditional lead-acid remains the primary cash generator, the company is shifting focus toward Energy Storage Systems (ESS) with a 5GWh integration facility expected to start production by late 2026.