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Amara Raja Q2 revenues and net profit shoots up 94% and 64%
  • Net Revenue is Rs.2597 Million and PAT Rs.206 Million
  • Records Sequential growth in - topline and bottomline

Seoul, South Korea, October 23, 2007: - Industrial and Automotive Battery major Amara Raja Batteries Limited (BSE Code: 500008 & NSE Symbol: AMARAJABAT) has recorded revenues of Rs.2597 million (Net Sales: Rs.2562 million + other income: Rs.35 million), PBT of Rs.315 million and PAT of Rs.206 million for the second quarter of FY 2007-08. For the quarter ended Sep 07 the topline has grown by 92% while PAT rose 62% as compared to the corresponding quarter of last year.

Announcing the results, Mr. Jayadev Galla, Managing Director remarked the growth has been fed by good demand from the Telecom, UPS and after marketing segments. " We have shown consistent growth over last 10 quarters with equal contrubutions from both Industrial and Automotive divisions. Our expansions plans announced during the last one year are progressing as per schedule and will help to sustain this pace of growth, " he said.

"Our performance on profitability demonstrates the resilience of our business model. Improved realization and superior management of key operating parameters has helped us to partially mitigate the adverse impact on account of steep increase in lead. While we continue to watch the lead price scenario very closely, we will work to reduce the impact on our margins as much as is possible," he added.

"The financial position of the company continues to be comfortable. The Stock split from Rs.10 to Rs.2 announced during June has taken effect from 26th September 07," observed Mr.K.Suresh, Financial Controller .
 
Value in Millions INR
  Second Quarter Ended Full Year 2006-07
  30-Sep-07 30-Sep-06
Net Sales 2561.7 1320.2 5958.0
PBT 314.6 193.8 712.0
PAT 206.2 127.1  470.4

For the Full year period ending March 2007, ARBL has recorded 67% growth in revenues at Rs.7.4 billion (Rs.4.5 billion in FY 2005-06). The PBT shot up by 91% to Rs.712 million and PAT 97% to Rs.407.4 million during the same period.

Media Contact
Vanitha Nav Jain
Ogilvy Public Relations Worldwide
Phone: +91 9940544411
E-mail:vanitha.jain@ogilvy.com

About Amara Raja

Amara Raja Batteries Limited,an Amara Raja-Johnson Controls Company with 26% equity from Johnson Controls, is the technology leader in the Indian storage battery industry, manufacturing batteries for both Industrial and Automotive applications.

In India, Amara Raja is the preferred supplier to major telecom operators and equipment manufacturers, Indian Railways and a range of industry segments including Power, Oil & Gas and UPS applications. Amara Raja manufactures and sells automotive batteries under the brand name Amaron® which is distributed through a large pan-India sale-service retail network.

The company supplies automotive batteries under OE relationships to Ashok Leyland, Fiat, General Motors, Hindustan Motors, Honda, Mahindra & Mahindra, Maruti, Hyundai & Tata Motors. The company is an exclusive supplier to Daimler Chrysler, Ford and Swaraj Mazda. The Company’s Industrial and Automotive batteries are exported to APAC, Africa and the Middle East.

The company is listed on The Stock Exchange Mumbai and The National Stock Exchange.

ARBL’s firsts in the automotive battery industry

  • First to introduce a 36 month warranty
  • First to launch a 48 month warranty for automotive batteries
  • Battery with the highest CCA (Cold Cranking Amps)
  • Battery with the highest RC (Reserve Capacity)
  • First automotive battery company to have exclusive PitStop themed outlet

Johnson Controls is a global leader in interior experience, building efficiency and power solutions. The company provides innovative automotive interiors that help make driving more comfortable, safe and enjoyable. For buildings, it offers products and services that optimize energy use and improve comfort and security. Johnson Controls also provides batteries for automobiles and hybrid electric vehicles, along with systems engineering and service expertise. Johnson Controls (NYSE: JCI), founded in 1885, is headquartered in Milwaukee, Wisconsin. Its sales for 2006 totaled US$ 32.24 billion.

Safe Harbor
Some of the statements in this news release that are not historical facts are forward-looking statements. These forward-looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate. These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. These risks include, but are not limited to, the level of market demand for our products, the highly-competitive market for the types of products that we offer, market conditions that could cause our customers to reduce their spending for our products, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and other risks not specifically mentioned herein but those that are common to industry.