Operating profit margin has declined from 17.58% to 11.89%, leading to 20.89% decline in operating profit to Rs 269.11 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 58.80% to 65.12%.   Purchase of finished goods cost fell from 5.95% to 5.15%.   Employee cost decreased from 6.15% to 5.77%.   Other expenses rose from 11.24% to 12.15%.   

Other income rose 134.40% to Rs 26.44 crore.  PBIDT fell 15.91% to Rs 295.55 crore.  Provision for interest rose 42.97% to Rs 3.56 crore.  Loan funds rose to Rs 97.08 crore as of 30 September 2021 from Rs 70.98 crore as of 30 September 2020.  Inventories rose to Rs 1,596.63 crore as of 30 September 2021 from Rs 1,111.77 crore as of 30 September 2020.  Sundry debtors were higher at Rs 720.71 crore as of 30 September 2021 compared to Rs 688.34 crore as of 30 September 2020.  Cash and bank balance rose to Rs 145.26 crore as of 30 September 2021 from Rs 129.59 crore as of 30 September 2020.  Investments declined from Rs 521.48 crore as of 30 September 2020 to Rs 375.83 crore as of 30 September 2021.  

PBDT fell 16.33% to Rs 291.99 crore.  Provision for depreciation rose 26.06% to Rs 98.57 crore.  Fixed assets increased to Rs 2,850.23 crore as of 30 September 2021 from Rs 2,609.95 crore as of 30 September 2020.  Intangible assets declined from Rs 99.62 crore to Rs 86.96 crore.  

Profit before tax down 28.57% to Rs 193.42 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 49.1 crore, compared to Rs 69.5 crore.  Effective tax rate was 25.39% compared to 25.67%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 28.30% to Rs 144.32 crore.  

Equity capital stood at Rs 17.08 crore as of 30 September 2021 to Rs 17.08 crore as of 30 September 2020.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 28.06% as of 30 September 2021 ,compared to 28.06% as of 30 September 2020 .  

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Amara Raja Batteries has increased 34.46% to Rs 4150.32 crore.  

Operating profit margin has declined from 15.95% to 12.51%, leading to 5.43% rise in operating profit to Rs 519.13 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 58.81% to 64.10%.   Purchase of finished goods cost rose from 5.65% to 6.25%.   Employee cost decreased from 6.77% to 5.85%.   Other expenses fell from 12.22% to 11.62%.   

Other income rose 114.55% to Rs 43.06 crore.  PBIDT rose 9.71% to Rs 562.19 crore.  Provision for interest rose 29.79% to Rs 6.71 crore.  Loan funds rose to Rs 97.08 crore as of 30 September 2021 from Rs 70.98 crore as of 30 September 2020.  Inventories rose to Rs 1,596.63 crore as of 30 September 2021 from Rs 1,111.77 crore as of 30 September 2020.  Sundry debtors were higher at Rs 720.71 crore as of 30 September 2021 compared to Rs 688.34 crore as of 30 September 2020.  Cash and bank balance rose to Rs 145.26 crore as of 30 September 2021 from Rs 129.59 crore as of 30 September 2020.  Investments declined from Rs 521.48 crore as of 30 September 2020 to Rs 375.83 crore as of 30 September 2021.  

PBDT rose 9.50% to Rs 555.48 crore.  Provision for depreciation rose 27.33% to Rs 194.86 crore.  Fixed assets increased to Rs 2,850.23 crore as of 30 September 2021 from Rs 2,609.95 crore as of 30 September 2020.  Intangible assets declined from Rs 99.62 crore to Rs 86.96 crore.  

Profit before tax grew 1.80% to Rs 360.62 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 92.2 crore, compared to Rs 90.49 crore.  Effective tax rate was 25.57% compared to 25.54%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 1.77% to Rs 268.42 crore.  

Equity capital stood at Rs 17.08 crore as of 30 September 2021 to Rs 17.08 crore as of 30 September 2020.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 28.06% as of 30 September 2021 ,compared to 28.06% as of 30 September 2020 .  

Cash flow from operating activities decreased to Rs 450.31 crore for YTD ended September 2021 from Rs 608.74 crore for YTD ended September 2020.  Cash flow used in acquiring fixed assets during the YTD ended September 2021 stood at Rs 298.33 crore, compared to Rs 203.04 crore during the YTD ended September 2020.  

Full year results analysis.

Net sales (including other operating income) of Amara Raja Batteries has increased 4.54% to Rs 7149.78 crore.  

Operating profit margin has declined from 16.06% to 15.60%, leading to 1.56% rise in operating profit to Rs 1,115.68 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 62.16% to 60.72%.   Purchase of finished goods cost rose from 2.59% to 5.96%.   Employee cost increased from 5.68% to 5.91%.   Other expenses fell from 13.38% to 11.96%.   

Other income rose 58.69% to Rs 87.36 crore.  PBIDT rose 4.29% to Rs 1203.04 crore.  Provision for interest fell 13.62% to Rs 10.53 crore.  Loan funds rose to Rs 92.32 crore as of 31 March 2021 from Rs 71.44 crore as of 31 March 2020.  Inventories rose to Rs 1,438.93 crore as of 31 March 2021 from Rs 1,143.00 crore as of 31 March 2020.  Sundry debtors were higher at Rs 786.93 crore as of 31 March 2021 compared to Rs 636.30 crore as of 31 March 2020.  Cash and bank balance rose to Rs 176.01 crore as of 31 March 2021 from Rs 84.53 crore as of 31 March 2020.  Investments rose to Rs 279.97 crore as of 31 March 2021 from Rs 155.60 crore as of 31 March 2020 .  

PBDT rose 4.48% to Rs 1192.51 crore.  Provision for depreciation rose 6.12% to Rs 319.16 crore.  Fixed assets increased to Rs 2,757.24 crore as of 31 March 2021 from Rs 2,558.67 crore as of 31 March 2020.  Intangible assets declined from Rs 97.57 crore to Rs 96.80 crore.  

Profit before tax grew 3.89% to Rs 873.35 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 226.52 crore, compared to Rs 179.86 crore.  Effective tax rate was 25.94% compared to 21.40%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 2.11% to Rs 646.83 crore.  

Equity capital stood at Rs 17.08 crore as of 31 March 2021 to Rs 17.08 crore as of 31 March 2020.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 28.06% as of 31 March 2021 ,compared to 28.06% as of 31 March 2020 .  

Cash flow from operating activities decreased to Rs 802.23 crore for year ended March 2021 from Rs 1,176.56 crore for year ended March 2020.  Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 496.66 crore, compared to Rs 701.38 crore during the year ended March 2020.  

Other Highlights

The board has declared an Interim Dividend of Rs 4 per equity share (representing 400%) on the equity share of Re 1 each fully paid up for the Financial Year 2021-2022.

Management commentary: Mr. Jayadev Galla, Chairman, Managing Director & CEO of the Company, said The demand signals are positive across all product segments but the increased input material costs are driving the margins negatively. We will continue to focus on cost optimization and work towards improving the operating margins. We are working on our new energy strategy to participate in the emerging opportunities in the new chemistries and have started our Lithium battery pack supplies for three wheeler application.

Amara Raja Batteries : Consolidated Results

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