Amara Raja Q1 Review - Beats Estimates; Cut FY23 Estimates By 11%: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Amara Raja Batteries Ltd.’s Q1 FY23 earnings were led by strong revenue growth across segments. High raw material costs continued to impact margin. The recent moderation in lead prices will aid a margin recovery. Volumes should see good growth across segments in FY23. Revenue/Ebitda/adjusted profit after tax grew 39%/4%/6% YoY to Rs 26.2 billion/Rs 2.6 billion/Rs 1.3 billion (our estimate Rs 22.6 billion/Rs 2.4 billion/Rs 1.1 billion). Amara Raja's blended volume growth is estimated at 27-28% YoY. Realisations are estimated to have grown by 11-12%. Overall four wheeler/two-wheeler/industrial volume is estimated to have grown by 11- 13%/38-40%/18-20% YoY. Gross margin decline of 4.5% YoY and 130 bps QoQ to 26.6% (our estimate: 28.2%). The QoQ decline in gross margin was due to a weaker mix (higher original equipment manufacturer contribution and an increase in traded goods)..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Amara Raja Q1 Review - Beats Estimates; Cut FY23 Estimates By 11%: Motilal Oswal

Amara Raja Q1 Review - Beats Estimates; Cut FY23 Estimates By 11%: Motilal Oswal

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