MOSL: AMARA RAJA BATTERIES (Buy)-Annual Report-Strengthening products and market presence
​Amara Raja Batteries | Annual Report: Strengthening products and market presence; Expanding technology and offerings to challenge leader
(AMRJ IN, Mkt Cap USD2.2b, CMP INR847, TP INR1095, 29% Upside, Buy)
AMRJ’s FY17 annual report, themed ‘Expanding Horizons’ highlights initiatives on new technologies, applications and markets. It has prioritized segments such as e-rickshaws, renewable energy, motive power products and exports to keep its growth momentum intact in FY18. Further, it is exploring and evaluating possibilities of foraying into other technologies even as it continues to strengthen its leadership in the lead-acid space.
Expanding horizons across every aspect of business
FY17 was an important year for AMRJ, as it expanded its horizon across every aspect of business: (a) Technology – absorbed glass mat batteries, flat plate gel, tubular gel, etc, (b) Products – batteries for micro-hybrid vehicles, customized batteries for UPS segment, etc, and (c) Processes. Further, it is exploring products for renewable energy and e-mobility.
Technological innovations to enhance product offerings
In the lead acid space, AMRJ is targeting to launch flat plate and tubular gel batteries developed on gel-based platforms in FY18. It expects to launch products based on EFB (enhance flooded battery) technology for micro hybrid vehicles in 1HFY18. In FY17, it developed products on AGM (absorbed glass mat) platform and customized batteries for UPS applications. AMRJ expects the domestic battery industry to grow at a CAGR of 7-9% till 2020.
Amara Raja Batteries engaged in the manufacture and sale of lead acid storage batteries for industrial and automotive applications in India. Co.'s industrial products include Powerstack batteries for use in telecommunications, power utilities, railways, defense, and other heavy industrial applications; and Amaron Quanta, a UPS battery with a back-up for a back-up. Co. offers automotive products, which include PRO, FLO, GO, Black, Fresh, Hi-way, Harvest, Shield, Pro Bike rider, and Optima batteries under the Amaron brand name. Co. supplies automotive batteries to various original equipment manufacturers.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.