Battery manufacturer Amara Raja Energy and Mobility posted a revenue of ₹34.67 billion (~$390.85 million) in the second quarter (Q2) of the financial year (FY) 2026, a 6.7% year-over-year (YoY) increase from ₹32.5 billion (~$366.46 million).

The company earned revenues of ₹32.97 billion (~$371.68 million) from its lead-acid battery business, and ₹1.7 billion (~$19.16 million) from its other ventures.

Its earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled ₹3.74 billion (~$42.2 million), down 13.5% from ₹4.32 billion (~$48.78 million) in Q2 FY 2025.

Profit after tax (PAT) stood at ₹2.76 billion (~$31.17 million), rising 17.4% YoY from ₹2.35 billion (~$26.56 million).

Earnings per share (EPS) came in at ₹15.11 (~$0.17) compared to ₹12.87 (~$0.15) in Q2 FY 2025.

The company attributed its performance to strong original equipment manufacturer (OEM) and aftermarket demand in the two and four-wheeler segments.

“Export volumes is where we faced challenge during the current quarter, where there was a degrowth compared to the previous year by about 7% to 8%,” said Delli Babu, Chief Financial Officer, at Amara Raja in an earnings call. “Tubular batteries have shown substantial quarter-on-quarter growth, but when it comes to a YoY basis, owing to a weaker season, the growth was limited to about 3% to 4%.”

1H FY 2026

Amara Raja reported revenue of ₹68.68 billion (~$774,27 million) in the first half (1H) of FY 2026, a 5.4% YoY increase from ₹65.14 billion (~$734.33 million).

Its EBITDA during this period stood at ₹7.38 billion (~$83.17 million), decreasing 15.2% YoY from ₹8.7 billion (~$98.06 million).

PAT was ₹4.41 billion (~$49.75 million), declining 9% from ₹4.84 billion (~$54.64 million) in the same period of the previous year.

The company’s EPS came in at ₹24.11 (~$0.27), compared to ₹26.48 (~$0.3) in 1H FY 2025.

Operational Highlights

Amara Raja’s lubes business achieved a revenue of ₹500 million (~$5.63 million) in Q2 FY 2026.

The company reported achieving nearly 100 MW in lithium pack sales to the telecom sector, resulting in a projected market share of over 50% in the sector.

Babu stated that Amara Raja is aiming for a capital expenditure of approximately ₹12 billion (~$135.28 million) to ₹13 billion (~$146.55 million) for the current fiscal year. It would include roughly ₹8 billion (~$90.18 million) to ₹9 billion (~$101.46 million) for investments to complete projects running under its New Energy department. It will spend the remaining expenditure on its lead-acid battery business.

The New Energy department’s revenue was approximately ₹1.22 billion (~$13.75 million) during Q2. The company also invested an additional ₹3.5 billion (~$39.45 million) in New Energy’s business subsidiary, Advanced Cell Technologies, during the quarter. This investment increased the total investment in the subsidiary to ₹12 billion (~$135.28 million)

In January this year, Amara Raja Infra, a subsidiary of Amara Raja, won Solar Energy Corporation of India’s auction to supply balance of systems for a 300 MW grid-connected solar power project at Ramagiri, Andhra Pradesh, for a contract value of ₹5.44 billion (~$62.89 million).

Amara Raja announced a profit before tax of ₹3.29 billion (~$39.1 million) for the first quarter of the financial year FY 2025, up 23% YoY from ₹2.66 billion (~$31.6 million).