ARE&M

Amara Raja Energy & Mobility Limited

Lead-acid batteries and lithium-ion cells for automotive and industrial markets

Consumer Discretionary›Automobile and Auto Components›Auto Components›Auto Components & Equipments

amararajaeandm.com

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Key metrics

Price as of 2026-10-16

Stock price

₹743.00

Market cap

13,602 Cr

Stock P/E

14.8

P/B

1.68

Dividend yield

1.4%

ROE (FY26)

11.1%

ROCE (FY26)

14.9%

Operating margin (FY26)

6.4%

Debt / equity (FY26)

0.03

OCF / EBITDA (FY26)

74.7%

OCF / EBITDA (3Y)

78.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

ARE&M (Amara Raja Energy & Mobility) makes lead-acid batteries and allied products for vehicle makers, the vehicle replacement market and industrial customers, and is building a lithium-ion cell and battery-pack business through a subsidiary, Amara Raja Advanced Cell Technologies Private Limited.

Company snapshot

24thBy market cap

Ranked among 94 companies in Auto Components & Equipments.

Segment mix

Reportable segments as of 2024-09-30 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 96.5% of revenue

Segment	Revenue share	Revenue	PBT	Assets
Lead acid batteries and allied products	96.5%	6,287 Cr	622 Cr	—
Others	3.5%	226 Cr	-8 Cr	—

What we see

Positives

✓Debt-to-equity of 0.03x — the company is largely funded by its own money, not borrowed funds.

1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	2,959 Cr	3,044 Cr	2,908 Cr	3,263 Cr	3,251 Cr	3,272 Cr	3,060 Cr	3,401 Cr	3,467 Cr	3,410 Cr	3,536 Cr	4,215 Cr
Operating expenses (approx.)	2,557 Cr	2,613 Cr	2,498 Cr	2,826 Cr	2,818 Cr	2,867 Cr	2,719 Cr	3,038 Cr	3,093 Cr	3,036 Cr	3,150 Cr	3,809 Cr
EBITDA	402 Cr	431 Cr	410 Cr	437 Cr	433 Cr	406 Cr	341 Cr	364 Cr	374 Cr	374 Cr	386 Cr	406 Cr
OPM %	13.6%	14.1%	14.1%	13.4%	13.3%	12.4%	11.1%	10.7%	10.8%	11.0%	10.9%	9.6%
Other income	29 Cr	24 Cr	33 Cr	30 Cr	25 Cr	35 Cr	26 Cr	19 Cr	28 Cr	33 Cr	27 Cr	20 Cr
Interest	6 Cr	6 Cr	11 Cr	9 Cr	14 Cr	11 Cr	10 Cr	11 Cr	9 Cr	10 Cr	15 Cr	12 Cr
Depreciation	116 Cr	116 Cr	123 Cr	123 Cr	127 Cr	132 Cr	144 Cr	142 Cr	150 Cr	157 Cr	158 Cr	159 Cr
Profit before tax	310 Cr	332 Cr	309 Cr	335 Cr	317 Cr	409 Cr	213 Cr	229 Cr	365 Cr	192 Cr	421 Cr	255 Cr
Tax %	26.9%	23.3%	25.7%	25.6%	25.7%	27.0%	24.0%	28.0%	24.2%	27.1%	25.3%	25.0%
Net profit	226 Cr	255 Cr	230 Cr	249 Cr	236 Cr	298 Cr	162 Cr	165 Cr	276 Cr	140 Cr	314 Cr	191 Cr
EPS (₹)	₹13.25	₹14.91	₹12.55	₹13.61	₹12.87	₹16.30	₹8.83	₹9.00	₹15.11	₹7.66	₹17.17	₹10.43

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	6,793 Cr	6,839 Cr	7,150 Cr	8,697 Cr	10,388 Cr	11,708 Cr	12,846 Cr	13,814 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	5,842 Cr	5,741 Cr	6,034 Cr	7,673 Cr	9,036 Cr	10,050 Cr	11,230 Cr	12,317 Cr	Sign in free for the trailing twelve months
EBITDA	951 Cr	1,099 Cr	1,116 Cr	1,024 Cr	1,352 Cr	1,659 Cr	1,616 Cr	1,497 Cr	Sign in free for the trailing twelve months
OPM %	14.0%	16.1%	15.6%	11.8%	13.0%	14.2%	12.6%	10.8%	Sign in free for the trailing twelve months
Other income	47 Cr	55 Cr	87 Cr	78 Cr	92 Cr	110 Cr	116 Cr	106 Cr	Sign in free for the trailing twelve months
Interest	7 Cr	12 Cr	11 Cr	15 Cr	22 Cr	34 Cr	44 Cr	45 Cr	Sign in free for the trailing twelve months
Depreciation	261 Cr	301 Cr	319 Cr	396 Cr	427 Cr	484 Cr	526 Cr	607 Cr	Sign in free for the trailing twelve months
Profit before tax	730 Cr	841 Cr	873 Cr	691 Cr	947 Cr	1,250 Cr	1,273 Cr	1,207 Cr	Sign in free for the trailing twelve months
Tax %	33.8%	21.4%	25.9%	25.8%	26.7%	25.3%	25.8%	25.8%	Sign in free for the trailing twelve months
Net profit	483 Cr	661 Cr	647 Cr	513 Cr	695 Cr	934 Cr	945 Cr	896 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹28.29	₹38.69	₹37.87	₹30.01	₹40.66	₹51.05	₹51.62	₹48.95	Sign in free for the trailing twelve months
Dividend payout %	—	—	13.2%	33.3%	8.4%	14.6%	20.1%	21.7%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	17 Cr	17 Cr	17 Cr	17 Cr	17 Cr	18 Cr	18 Cr	18 Cr
Reserves	3,318 Cr	3,638 Cr	4,193 Cr	4,535 Cr	5,282 Cr	6,780 Cr	7,371 Cr	8,081 Cr
Borrowings	47 Cr	34 Cr	23 Cr	23 Cr	17 Cr	53 Cr	145 Cr	276 Cr
Other liabilities	1,114 Cr	1,311 Cr	1,564 Cr	1,800 Cr	1,808 Cr	2,126 Cr	2,635 Cr	3,081 Cr
Total liabilities	4,496 Cr	5,000 Cr	5,797 Cr	6,376 Cr	7,124 Cr	8,978 Cr	10,168 Cr	11,457 Cr
Fixed assets (net)	1,809 Cr	1,826 Cr	2,360 Cr	2,413 Cr	2,890 Cr	3,318 Cr	3,532 Cr	4,192 Cr
CWIP	234 Cr	733 Cr	398 Cr	829 Cr	248 Cr	626 Cr	1,298 Cr	1,585 Cr
Investments	20 Cr	156 Cr	280 Cr	77 Cr	427 Cr	714 Cr	682 Cr	464 Cr
Loans & advances	—	0 Cr	0 Cr	0 Cr	89 Cr	0 Cr	0 Cr	0 Cr
Inventories	1,061 Cr	1,143 Cr	1,439 Cr	1,805 Cr	1,702 Cr	1,948 Cr	2,195 Cr	2,515 Cr
Trade receivables	769 Cr	636 Cr	787 Cr	792 Cr	887 Cr	1,136 Cr	1,263 Cr	1,243 Cr
Cash & bank	50 Cr	33 Cr	97 Cr	35 Cr	95 Cr	98 Cr	158 Cr	226 Cr
Other assets	552 Cr	474 Cr	437 Cr	425 Cr	787 Cr	1,138 Cr	1,041 Cr	1,232 Cr
Total assets	4,496 Cr	5,000 Cr	5,797 Cr	6,376 Cr	7,124 Cr	8,978 Cr	10,168 Cr	11,457 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	541 Cr	1,177 Cr	802 Cr	633 Cr	914 Cr	1,266 Cr	1,351 Cr	1,118 Cr
Cash from investing	-463 Cr	-849 Cr	-635 Cr	-482 Cr	-754 Cr	-1,020 Cr	-1,132 Cr	-924 Cr
Cash from financing	-92 Cr	-364 Cr	-121 Cr	-213 Cr	-100 Cr	-242 Cr	-160 Cr	-126 Cr
Net cash flow	-13 Cr	-37 Cr	64 Cr	-62 Cr	60 Cr	3 Cr	59 Cr	68 Cr
Free cash flow (OCF − Capex)	13 Cr	475 Cr	306 Cr	-128 Cr	422 Cr	395 Cr	151 Cr	-223 Cr

Ratios

Metric	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	21.8%	23.1%	20.9%	15.4%	18.2%	18.7%	17.5%	14.9%
ROE %	14.5%	18.1%	15.4%	11.3%	13.1%	13.7%	12.8%	11.1%
Debtor days	41	34	40	33	31	35	36	33
Inventory days	84	99	120	110	93	103	110	110
Days payable	40	53	62	49	42	45	54	52
Cash conversion cycle	85	80	98	94	83	93	91	91
OCF / EBITDA %	56.9%	107.1%	71.9%	61.8%	67.6%	76.3%	83.6%	74.7%
OCF / EBITDA % (3 years)	—	—	79.6%	80.7%	67.3%	69.7%	76.3%	78.3%
Debt / equity	0.01	0.0094	0.0056	0.0051	0.0031	0.0078	0.02	0.03
Current ratio	2.44	2.02	2.12	1.85	2.35	2.24	1.84	1.64
Net debt / EBITDA	-0.0036	0.0016	-0.07	-0.01	-0.06	-0.03	-0.0082	0.03