(1888PressRelease)
August 01, 2009 - Hyderabad - For the quarter ended June 30, 2009, Gross Sales stood at Rs 3,525.58 million (Rs.3,835.69 million), Net Sales at Rs 3,063.76 million (Rs.3,139.76 million) and Profit Before Tax (PBT) at Rs.640.79 million (Rs.229.14 million).
Unaudited financials for the Quarter ended Audited Financials for the Value in Rs.Millions
Year ended 31-Mar- 09 30-Jun-09 30-Jun-08
Particulars
Gross Sales 3525.58 3835.69 15794.10
Net Sales 3063.76 3139.76 13131.78
PBT 640.79 229.14 1226.58
PAT 425.74 149.17 804.79
In the Industrial Battery business, Telecom & UPS sectors continued to maintain their growth momentum. The ongoing expansion in medium VRLA battery capacity to 1.80 million units from 1.20 million units coupled with planned small VRLA capacity expansion during 2009-10 will enable the Industrial Battery business to gain market share.
The Automotive Battery business grew on the back of improved off take from both OE and aftermarket segments and continues to maintain its market share. The Company has started making inroads in motorcycle battery market backed by high performance AGM product. The commercial vehicle segment of the OE business continues to be sluggish, which is expected to track the revival of the general economy. In essence, the automotive battery business will continue to be cautiously optimistic till the economy revives to the levels seen earlier.
On the Company’s Q1 results, Managing Director Mr. Jayadev Galla said: “Revived positive outlook in the customer segments has enabled us to grow in this quarter. The growth in the profit during the quarter was aided by improved efficiencies, cost control, moderation in input costs coupled with appreciation of Indian Rupee. We will continue to closely monitor the developments and work towards achieving our goals for the year.”
Mr. Suresh K, Financial Controller, Amara Raja Batteries, said, “Our expansion plans are on track. The cash flow situation continues to be comfortable aided by improved margins, enabling us to meet capex commitment without further borrowing. However, fluctuation in forex needs a close watch.”
About Amara Raja Batteries Ltd
Amara Raja Batteries Limited, an Amara Raja- Johnson Controls company with 26% equity from Johnson Controls, is the technology leader and is one of the largest manufacturers of lead acid batteries for both industrial and automotive applications in the Indian storage battery industry.
In India, Amara Raja is the preferred supplier to major telecom service providers, telecom equipment manufacturers, UPS Segments (OEM &Replacement), Indian railways and to power, Oil & Gas among other industry segments. Amara Raja manufactures and sells automotive batteries under the Brand Name AMARON which is distributed through a large pan-India sale-service retail network.
Company supplies automotive batteries under OE relationships to Ashok Leyland, General motors, Hindustan Motors, Honda, Mahindra & Mahindra, Maruti, Hyundai and 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 Asia Pacific, Africa and the Middle East.
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 system engineering and service expertise. Johnson Controls (NYSE: JCI), founded in 1885, is head quartered in Milwaukee, Wisconsin. Its sales for 2008 totaled US $ 38.06 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 the market demand for our products, the highly competitive market for the types of the products that we offer, market condition that would 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 otherwise not specifically mentioned herein but those that are common to industry.
Media Contact
Rashi Gupta/Vinod Kumar
Ogilvy Public Relations Worldwide, Chennai
Mobile : 9884075101/9840126179
Email: rashi.gupta ( @ ) ogilvy dot com/vinod.kumar ( @ ) ogilvy dot com
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