NSE:ARE&M · Risk Score Report

NSE:ARE&MNSEIndustrials

Amara Raja Energy & Mobility Limited

📊 Electrical Equipment & Parts

Day ₹889

₹906 Neutral

52W ₹670

₹1,094 Neutral

₹894.80

▼ ₹3.05 (-0.34%)

Vol: 330,976 · Avg: 1,428,071

As of April 29, 2026 · 06:41 IST

COMPOSITE RISK SCORE

VAL:16/25 · FIN:12/25 · GRO:8/25 · TECH:16/25

📈 P/E RATIO

22.1x

Trailing

📖 P/B RATIO

2.1x

Price to Book

💰 EPS

₹40.58

TTM

🏛 MARKET CAP

₹16,377Cr

Mid Cap

📊 ROE

12.8%

Return on Equity

📈 REV GROWTH

4.2%

YoY

🏢 Company Analysis · Amara Raja Energy & Mobility Limited

💼 BUSINESS MODEL

Amara Raja Energy & Mobility Limited, together with its subsidiaries, manufactures and sells lead-acid storage batteries for industrial and automotive applications in India and internationally..
It operates in two segments, Lead Acid and Allied Products, and Others..
The company provides new energy business related products; installation, commissioning, and maintenance services; and industrial chargers, integrated power systems for Indian Railways, electric vehicle chargers for 2W, 3W, 4W, and bus segment applications, as well as battery energy storage systems..
It also develops, manufactures, and sells energy storage and management products, solutions, and technologies related to lithium cells, advanced cell chemistries, battery packs, and components..
Operates in Electrical Equipment & Parts within the Industrials sector.
Workforce of 10,196 employees.

🏰 MOAT & COMPETITION

Mid-cap (₹16,377 Cr) — growing company in a competitive landscape.
Key competitors: Tenneco Clean, Samvardh. Mothe., Bosch, Motherson Wiring.

🚀 CATALYSTS

No specific near-term catalysts identified from available data.

⚖️ ASYMMETRY CHECK

Analyst target range: ₹730 — ₹1,111 (mean ₹930, 12 analysts).
Moderate asymmetry — upside +24% vs downside -18% (1.3x).
P/E of 22.1x — fair value territory; catalysts needed for re-rating.

🔭 FUTURE OUTLOOK

Analyst consensus: Hold (12 analysts).
Latest quarter earnings declined -53% YoY — watch for recovery signals.

✅ PROS

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 18.0%
Company's working capital requirements have reduced from 50.9 days to 40.6 days

❌ CONS

Company has a low return on equity of 13.5% over last 3 years.

VALUATION

16/25

25% WEIGHT

P/E at 22x
P/B at 2.1x
Analyst target: ₹930 (+4.0%)
1Y return: -8.6%

FINANCIAL HEALTH

12/25

25% WEIGHT

ROE: 12.8%
Profit margin: 5.6%
Revenue growth: 4.2%
Debt/Equity: 4%

GROWTH

8/25

25% WEIGHT

Revenue growth: 4.2%
Earnings growth: -53.0%
Beta: 0.67
Sector: Industrials

TECHNICAL

16/25

25% WEIGHT

RSI, MACD, MA crossovers
200 DMA & 50 EMA position
Volume trend analysis
Price momentum signals

📈 Price Movement

🕯 Candlestick Chart

🎯 Price Prediction · Analyst Target Cone Source: Yahoo Finance Analyst Targets ↗

📉 Valuation Trends (at current CMP)

P/E Ratio at current CMP

💎 Valuation & Financial Metrics

P/E RATIO

22.1x

Trailing twelve months

P/B RATIO

2.1x

Price to Book value

ROE

12.8%

Return on Equity

PROFIT MARGIN

5.6%

Net profit margin

OPM

6.4%

Operating profit margin

ANALYST TARGET

₹930

Range: ₹730 - ₹1,111

Yahoo Finance ↗

PEG RATIO

1.31

Price/Earnings to Growth

EV/EBITDA

12.1x

Enterprise value ratio

CURRENT RATIO

N/A

Liquidity measure

DIVIDEND YIELD

1.20%

Annual yield

ROA

6.8%

Return on Assets

GROSS MARGIN

32.2%

Gross profit margin

INDUSTRY AVERAGES — AUTO COMPONENTS & EQUIPMENTS

P/E 41.8x (below avg)

P/B 5.0x (sector fair)

ROCE 21.1% (below avg)

ROE 20% (sector good)

OPM 20% (sector good)

Div Yield 1.00%

D/E <30 (sector comfort)

📋 Quarterly Performance Trend

Quarter	Revenue	QoQ %	Net Profit	QoQ %	Op. Cash Flow	EBITDA Margin
Q2 FY25	₹3,251 Cr	—	₹236 Cr	—	N/A	14.1%
Q3 FY25	₹3,272 Cr	+0.7%	₹298 Cr	+26.6%	N/A	16.9%
Q4 FY25	₹2,999 Cr	-8.3%	₹162 Cr	-45.8%	N/A	11.7%
Q1 FY26	₹3,401 Cr	+13.4%	₹165 Cr	+2.0%	N/A	11.2%
Q3 FY26	₹3,410 Cr	+0.3%	₹140 Cr	-15.0%	N/A	10.5%

📊 Year-on-Year Trend

FY	Revenue	YoY %	Net Profit	YoY %	Op. Cash Flow	YoY %
FY22	₹8,655 Cr	—	₹513 Cr	—	₹633 Cr	—
FY23	₹10,339 Cr	+19.5%	₹731 Cr	+42.6%	₹945 Cr	+49.2%
FY24	₹11,654 Cr	+12.7%	₹934 Cr	+27.9%	₹1,266 Cr	+34.0%
FY25	₹12,786 Cr	+9.7%	₹945 Cr	+1.1%	₹1,351 Cr	+6.7%

📈 Revenue vs Earnings

🎯 EPS: Estimate vs Actual

💰 How Amara Raja Energy & Mobility Limited Makes Its Money

🏦 Snapshot of Amara Raja Energy & Mobility Limited's Balance Sheet

💸 Looking into Amara Raja Energy & Mobility Limited's Cash Flow

📅 Quarterly Results Source: Screener ↗

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales +	2,796	2,960	3,045	2,908	3,263	3,251	3,272	3,060	3,401	3,467	3,410
YOY Sales Growth %	6.71%	9.60%	15.42%	19.51%	16.69%	9.83%	7.48%	5.23%	4.23%	6.65%	4.21%
Expenses +	2,429	2,534	2,589	2,498	2,826	2,818	2,867	2,719	3,038	3,093	3,036
Material Cost %	70%	67%	66%	66%	69%	68%	67%	67%	70%	66%	66%
Employee Cost %	6%	6%	6%	6%	6%	6%	6%	7%	7%	7%	7%
Operating Profit	367	425	456	410	437	433	406	341	364	374	374
OPM %	13%	14%	15%	14%	13%	13%	12%	11%	11%	11%	11%
Other Income +	24	29	24	33	30	25	146	26	18	150	-15
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	111.07	0.00	0.00	121.79	-47.63
Other income normal	23.56	29.41	24.11	33.33	29.59	25.47	34.70	25.83	18.50	28.05	32.80
Interest	8	8	8	11	9	14	11	10	11	9	10
Depreciation	117	122	122	123	123	127	132	144	142	150	157
Profit before tax	266	325	350	309	335	317	409	213	229	365	192
Tax %	25%	27%	23%	26%	26%	26%	27%	24%	28%	24%	27%
Net Profit +	198	238	268	230	249	236	298	162	165	276	140
Exceptional items AT	0	0	0	0	0	0	76	0	0	90	-33
Profit excl Excep	198	238	268	230	249	236	222	162	165	186	173
Profit for PE	198	238	268	230	249	236	222	162	165	186	173
Profit for EPS	198	238	268	230	249	236	298	162	165	276	140
YOY Profit Growth %	50%	18%	21%	31%	26%	-1%	-17%	-30%	-34%	-21%	-22%
EPS in Rs	11.61	13.96	15.68	12.55	13.61	12.87	16.30	8.83	9.00	15.11	7.66
Raw PDF

📊 Profit & Loss Statement Source: Screener ↗

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales +	6,793	6,839	7,150	8,697	10,392	11,708	12,846	13,338
Sales Growth %		0.68%	4.54%	21.64%	19.49%	12.67%	9.72%
Expenses +	5,838	5,741	6,033	7,666	8,945	10,046	11,225	11,886
Manufacturing Cost %	5%	5%	5%	5%	5%	4%	5%
Employee Cost %	5%	6%	6%	6%	6%	6%	6%
Other Cost %	7%	8%	7%	7%	7%	8%	9%
Operating Profit	955	1,099	1,117	1,031	1,447	1,662	1,622	1,452
OPM %	14%	16%	16%	12%	14%	14%	13%	11%
Other Income +	43	55	86	71	29	106	222	179
Exceptional items	2	17	13	5	-49	21	136
Other income normal	41	38	73	66	78	85	86
Interest	7	12	11	15	30	34	44	40
Depreciation	261	301	319	396	450	484	526	593
Profit before tax	730	841	873	691	997	1,250	1,273	999
Tax %	34%	21%	26%	26%	27%	25%	26%
Net Profit +	483	661	647	513	731	934	945	743
Exceptional items AT	1	12	10	3	-36	16	101
Profit excl Excep	482	648	637	509	767	919	844
Profit for PE	482	648	637	509	767	919	844
Profit for EPS	483	661	647	513	731	934	945
Profit Growth %		35%	-2%	-20%	51%	20%	-8%
EPS in Rs	28.29	38.69	37.87	30.01	42.79	51.05	51.61	40.60
Dividend Payout %	25%	28%	29%	15%	14%	19%	20%

🏦 Balance Sheet Source: Screener ↗

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	17	17	17	17	17	18	18	18
Reserves	3,318	3,638	4,193	4,535	5,990	6,780	7,371	7,719
Borrowings +	58	84	92	126	201	157	261	310
Long term Borrowings	0	0	23	17	80	26	0	0
Short term Borrowings	0	0	11	7	31	27	145	189
Lease Liabilities	0	0	58	102	90	103	116	121
Other Borrowings	58	84	0	0	0	0	0
Other Liabilities +	1,102	1,261	1,495	1,698	1,753	2,021	2,511	2,800
Trade Payables	510	615	746	806	758	856	1,087	1,282
Advance from Customers	7	20	27	51	67	58	57
Other liability items	585	627	721	841	928	1,107	1,367	1,519
Total Liabilities	4,496	5,000	5,797	6,376	7,961	8,976	10,161	10,847
Fixed Assets +	1,813	1,829	2,455	2,492	3,747	3,807	4,014	4,475
Land	74	82	116	120	327	459	464
Building	665	742	943	1,043	1,167	1,228	1,412
Plant Machinery	1,761	1,974	2,549	2,804	3,550	3,707	4,127
Equipments	51	57	74	83	91	96	104
Computers	24	28	30	34	42	49	73
Furniture n fittings	17	17	21	25	30	34	39
Vehicles	15	16	20	27	32	36	42
Intangible Assets	0	0	73	74	502	513	528	476
Other fixed assets	10	11	37	40	48	50	57
Gross Block	2,616	2,927	3,863	4,250	5,788	6,172	6,846
Accumulated Depreciation	804	1,098	1,408	1,757	2,041	2,365	2,832
CWIP	315	827	399	830	249	641	1,298	1,201
Investments	20	156	280	77	427	714	682	625
Other Assets +	2,348	2,189	2,663	2,977	3,538	3,814	4,167	4,546
Inventories	1,061	1,143	1,439	1,805	1,734	1,948	2,195	2,504
Trade receivables	769	636	787	792	887	1,136	1,263	1,323
Cash Equivalents	72	85	176	54	105	118	175	58
Loans n Advances	9	8	9	13	104	26	22	17
Other asset items	438	317	252	313	708	586	512	644
Total Assets	4,496	5,000	5,797	6,376	7,961	8,976	10,161	10,847

💰 Cash Flow Statement Source: Screener ↗

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	541	1,177	802	633	945	1,266	1,351
Profit from operations	967	1,124	1,132	1,074	1,496	1,714	1,685
Receivables	12	113	-135	-5	-94	-217	-128
Inventory	-12	-82	-296	-366	-92	-2	-247
Payables	-77	102	144	68	-66	86	233
Other WC items	-108	155	157	61	-43	24	139
Working capital changes	-184	289	-130	-242	-295	-109	-3
Direct taxes	-242	-236	-200	-199	-256	-338	-331
Cash from Investing Activity +	-448	-830	-616	-482	-773	-1,020	-1,132
Fixed assets purchased	-528	-701	-497	-761	-511	-871	-1,200
Fixed assets sold	0	2	0	1	1	3	8
Investments purchased	-1,025	-1,480	-1,460	-1,344	-2,828	-3,796	-4,268
Investments sold	1,045	1,357	1,345	1,558	2,635	3,783	4,325
Interest received	4	3	4	5	2	1	2
Dividends received	0	0	0	0	0	0	0
Other investing items	56	-10	-9	60	-71	-140	2
Cash from Financing Activity +	-92	-364	-122	-213	-112	-242	-160
Proceeds from borrowings	0	0	0	0	0	0	144
Repayment of borrowings	-5	-12	-12	-11	-11	-58	-53
Interest paid fin	-1	-5	-4	-7	-16	-18	-26
Dividends paid	-85	-331	-85	-171	-58	-137	-190
Financial liabilities	0	-16	-20	-25	-27	-30	-34
Net Cash Flow	2	-18	64	-62	60	3	59
Free Cash Flow	13	477	306	-126	435	397	159
CFO/OP	82%	129%	90%	81%	83%	96%	104%

📈 Key Financial Ratios

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	41	34	40	33	31	35	36
Inventory Days	83	94	111	108	90	90	92
Days Payable	40	50	57	48	40	40	46
Cash Conversion Cycle	85	77	93	93	82	86	83
Working Capital Days	67	49	53	51	60	52	41
ROCE %		23%	22%	16%	20%	19%	16%

🏭 Industry Peers — Auto Components & Equipments

#	Company	CMP	P/E	Mkt Cap	ROCE	Qtr Profit	Score
1	Tenneco Clean ★	₹628	44.9	₹25,346	57.3%	+10.3%	54
2	Samvardh. Mothe.	₹125	37.3	₹131,930	13.7%	+20.1%	49
3	Bosch	₹36,825	47.0	₹108,610	21.1%	+7.9%	45
4	Motherson Wiring	₹39	41.8	₹26,109	38.9%	+1.4%	44
5	Craftsman Auto	₹7,624	51.8	₹18,189	11.7%	+477.1%	41
6	Shriram Pistons	₹3,476	27.2	₹15,311	25.7%	+17.9%	41
7	Schaeffler India	₹4,321	56.4	₹67,544	27.9%	+31.5%	40
8	CIE Automotive	₹472	20.7	₹17,906	14.7%	+20.4%	38
9	Amara Raja Ener.	₹895	21.7	₹16,375	16.8%	-22.1%	36

★ Tenneco Clean ranks higher on combined P/E, ROCE, and growth metrics in Auto Components & Equipments

🏛 Shareholding Pattern

	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	32.86%	32.86%	32.86%	32.86%	32.86%	32.86%
FIIs	21.82%	20.71%	19.39%	17.97%	17.37%	17.31%
DIIs	14.81%	14.59%	14.00%	16.24%	17.12%	16.95%
Public	30.52%	31.86%	33.76%	32.93%	32.63%	32.88%
No. of Shareholders	8,07,657	8,62,059	8,71,584	8,49,222	8,20,460	8,09,144

🟢 CATALYSTS

🏆Positive Revenue Growth: Revenue growing at 4.2% YoY.

💹Low Beta (0.67): Less volatile than market — defensive play.

🔀Sector Opportunity: Industrials / Electrical Equipment & Parts — positioned in growth sector.

🔴 RISKS

📜Market Risk: Broader market correction or sentiment shift could impact stock.

💰Sector Risk: Regulatory or competitive changes in Industrials space.

🔓Execution Risk: Growth may not meet elevated expectations.

🕸 Factor Analysis · Radar

Momentum 6/10
1M +33.1%, 6M -11.2%, RSI 68, MACD bullish, Below 200DMA

Sentiment 5/10
Analyst upside +4.0%, Rec: hold

Value 6/10
P/E 22.1, P/B 2.1, PEG 1.31, EV/EBITDA 12.1

Quality 6/10
Margin 5.6%, D/E 4

Low Volatility 8/10
Beta 0.67, Ann. vol 29%

🎯 Decision Matrix

Action	If Stock Rises	If Stock Falls
BUY	Capture 4.0% analyst upside	Fundamentals provide base support
HOLD	Retain existing position; wait for better entry; FII stake falling (-0.06%)	Miss further upside if momentum continues; 1M return of +33.1% shows momentum
SELL	Lock in -8.6% 1Y return	Avoid further drawdown

REASONS TO BUY

Analyst upside of 4.0% with mean target of ₹930
ROCE at 16% indicates strong capital efficiency

REASONS TO SELL / AVOID

FII stake falling (-0.06%) — institutional exit signal

📰 Latest News

Amara Raja Energy & Mobility Ltd (BOM:500008) Q3 2026 Earnings Call Highlights: Navigating ...

GuruFocus.com · 2026-02-12T21:08

RECOMMENDATION

HOLD

COMPOSITE SCORE

52/100

Amara Raja Energy & Mobility Limited trades at ₹894.80 with a composite risk score of 52/100. The stock scores 16/25 on valuation, 12/25 on financial health, 8/25 on growth, and 16/25 on technicals. The company is currently profitable with moderate return on equity.

Analyst consensus suggests upside of 4.0% with a mean target of ₹930. Revenue growth is at 4.2%.

Within Auto Components & Equipments, Tenneco Clean (P/E 44.9, ROCE 57.3%) ranks higher on techno-fundamental metrics and may be worth considering.

Bottom Line: Neutral for Industrials — wait for better entry or catalyst. The current recommendation is HOLD.