Amara Raja Energy Mobility Ltd — Q2FY27 earnings call summary

Filed 08 November 2026 · Official transcript

BESS capacity ramp-up starting Jan-Feb 2027; 50-60% utilization FY28, full by FY29
Price hikes of 5% cumulative in H1 FY27 to offset cost inflation
Capex INR 2,200 Cr FY27; INR 1,600 Cr in new energy; expect ROCE improvement in 3 years
EBITDA margin Q2 standalone ~10.1%, consolidated 8.8%; margin pressure from raw material costs and strategic spends
Q2 FY27 consolidated revenue INR 4,108 Cr; lead-acid +18%, new energy +30%
Lead-acid business growth guidance 8-10% medium term; aftermarket 6-8%, home UPS ~10%
New energy capex INR 2,320 Cr for 5 GWh LFP cell gigafactory, completion in 30 months
Competitive intensity in BESS moderate; 10-15% cost disadvantage vs imports mitigated by govt support