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Amara Raja Batteries Ltd - Views on News from Equitymaster
 
 
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  • Jul 29, 2000

    Amara Raja Batteries Ltd

    The company's sales have increased sharply in the 1QFY01 by 33.5% YoY to Rs 245m. Due to a 38% increase in operating expenses, the company's operating margins have fallen from 17.1% in 1QFY00 to 14.2% in the 1QFY01.

    (Rs m) 1QFY00 1QFY01 Change
    Sales 184 245 33.5%
    Other Income 14 13 -7.0%
    Expenditure 152 210 38.1%
    Operating Profit (EBDIT) 31 35 10.9%
    Operating Profit Margin (%) 17.1% 14.2%  
    Interest 0 1 406.1%
    Depreciation 11 16 44.3%
    Profit before Tax 33 30 -10.3%
    Other Adjustments      
    Tax 10 8 -25.0%
    Profit after Tax/(Loss) 24 23 -4.9%
    Net profit margin (%) 12.9% 9.2%  
    No. of Shares (eoy) (m) 10.3 10.3  
    Diluted number of shares 10.3 10.3  
    Diluted Earnings per share* 9.2 8.8  
    *(annualised)      

    The decline in margins are a result of lower price realisations continuing from the previous year as well as additional expenses related to brand launch and development of its automotive business. The company is trying to increase its presence in automotive batteries, which is currently the stronghold of Exide Industries Ltd.

    Higher interest and depreciation costs have resulted in a decline in operating margins from 12.9% in 1QFY00 to 9.2% in 1QFY01

    On the current price of Rs 72 it is trading on 3.8x FY2000 EPS of Rs 18.9.

     

     

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