Energy storage solutions provider Amara Raja Energy and Mobility reported revenue from operations of ₹42.15 billion (~$442.58 million) in the first quarter (Q1) of the financial year 2027, up 23.9% year-over-year (YoY) from ₹34.01 billion (~$357.12 million).

The lead-acid battery business revenue jumped 22.1% YoY to ₹40.05 billion (~$419.72 million) in Q1 FY27 from ₹32.80 billion (~$343.74 million).

Revenue from other businesses, primarily comprising the new energy business, surged 72.6% YoY to ₹2.09 billion (~$21.90 million) from ₹1.21 billion (~$12.68 million).

Domestic revenue rose 29.2% YoY to ₹39 billion (~$408.72 million) from ₹30.19 billion (~$316.39 million). Exports fell 17.7% YoY to ₹3.14 billion (~$32.91 million) from ₹3.82 billion (~$40.03 million), with their share of revenue declining to 7% from 11%. The company attributed the decline to geopolitical factors.

Amara Raja’s new energy business recorded more than 50% revenue growth during the quarter, supported by sustained supply of telecom and electric-vehicle battery packs.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹4.06 billion (~$42.63 million), up 11.7% YoY from ₹3.64 billion (~$38.18 million).

The company’s consolidated net profit rose 15.8% YoY to ₹1.91 billion (~$20.05 million) from ₹1.65 billion (~$17.31 million).

Earnings per share (EPS) came in at ₹10.43 (~$0.11) compared to an EPS of ₹9 (~$0.09) in the same quarter last year.

Operational Highlights

Harshavardhana Gourineni, Executive Director, Automotive and Industrial, said Amara Raja began FY 2027 with broad-based growth across its business segments. Automotive domestic business revenue grew more than 20% YoY, supported by healthy original equipment manufacturer demand and double-digit growth in the aftermarket.

Home Energy revenue increased more than 30% YoY, supported by a strong summer season, while the industrial battery business maintained its growth momentum, with the uninterruptible power supply segment recording double-digit revenue growth.

The company’s international business continued to face headwinds from geopolitical uncertainty and changing global trade dynamics.

Gourineni said the company is recalibrating its market and channel mix to build a more resilient export business.

Amara Raja operates lead-acid battery manufacturing facilities in Tirupati and Chittoor, Andhra Pradesh. Its automotive battery manufacturing capacity is approximately 70 million units annually, while its industrial battery capacity is approximately 2.4 billion Ah per year. The company’s tubular battery plant in Chittoor has an annual capacity of approximately 1.8 million units.

Its manufacturing footprint includes the Karakambadi plants, which produce four-wheeler, two-wheeler, and large valve-regulated lead-acid batteries, and the Amara Raja Growth Corridor, which houses two four-wheeler battery plants, a two-wheeler battery plant, an MVRLA battery facility, and a tubular battery plant.

The company also operates a battery recycling plant in Cheyyar and has two plastic component plants that serve captive consumption.

New Energy Business

Vikramadithya Gourineni, Executive Director, New Energy Business, said strong growth in the stationary storage segment drove volume growth during the quarter.

He said the company is transitioning into a fully integrated new energy business, with capabilities spanning advanced cells, battery packs, chargers, power conversion technologies, and energy storage systems.

To date, the company has infused ₹19 billion (~$199.12 million) into Amara Raja Advanced Cell Technologies, its wholly owned subsidiary. The company said that the construction of its 10 GWh battery energy storage system gigafactory has also commenced.

Amara Raja’s existing new energy manufacturing footprint includes a stationary battery pack assembly plant in Divitipalli with a capacity of approximately 1.2 GWh and a mobility battery pack assembly plant at the same location with a capacity of approximately 1.5 GWh.

The company also operates an AC/DC charger assembly plant in Tirupati, producing 7.4 kW Type-1 AC chargers and 180 kW DC fast chargers.

Outlook

Amara Raja plans to scale its battery pack business by expanding into new mobility applications and building a sustainable customer base. It aims to fully operationalize its 1.5 GWh battery pack capacity for two- and three-wheelers, while its 1.2 GWh capacity will cater to stationary applications.

Operations at the company’s gigacell plant are expected to commence in Q2 of calendar year 2027, with an initial 2 GWh of capacity based on nickel-manganese-cobalt chemistry. The company plans to expand the facility in phases to 16 GWh by FY 2030, offering both nickel-manganese-cobalt and lithium iron phosphate chemistries.

Amara Raja’s planned 10 GWh BESS gigafactory will manufacture energy storage solutions for commercial, industrial, and grid applications. The company expects annual domestic demand for stationary and BESS applications to reach 25-30 GWh by FY 2031.

Recently, Amara Raja Energy approved additional investments totaling ₹5.5 billion (~$57.64 million) in two of its wholly owned subsidiaries to support its lithium-ion battery gigafactory development and manufacturing requirements.

In Q4 of FY 2026, the company’s revenue from operations jumped by 15.5% YoY.