Amara Raja Energy & Mobility (500008) Q2 25/26 earnings summary

Executive summary

• Consolidated Q2 FY26 revenue reached INR 3,467 crore, up 6.5%-6.7% YoY, with 95% from lead-acid and the rest from new energy business.

• Four decades of experience, strong brand recall, and market leadership in automotive and industrial batteries, including telecom and data center sectors.

• Name change in 2023 to reflect a broader vision in energy transition and mobility solutions.

• Export presence in over 60 countries and a robust domestic and international distribution network.

• Unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025, were approved and reviewed by the Board and auditors.

Financial highlights

• Q2 FY26 consolidated revenue: INR 3,467.02 crore, up from INR 3,250.73 crore YoY; standalone revenue: INR 3,388.18 crore.

• Q2 FY26 consolidated EBITDA: INR 3,743 Mn (10.8% margin); PAT: INR 2,765 Mn (8.0% margin); exceptional income of INR 121.79 crore from insurance claim.

• Lead-acid business revenue was INR 3,297 crore, up 5% YoY.

• Standalone operating margins were around 12%; adjusted for lithium telecom batteries, margins would be 12.4%.

• One-time EPR credit cost provision of INR 35 crore impacted margins.

Outlook and guidance

• Lead-acid battery revenue expected to grow 8%-10% in the next year.

• NEB expansion with 16 GWh giga cell plant targeted by FY30 and phased capacity additions.

• EBITDA margin target is 13% in the near term, aiming to return to 14% over time.

• Ongoing ramp-up of new tubular battery plant and battery recycling facility.

• Board and management reaffirmed compliance with accounting standards and regulatory requirements.