Profile
Amara Raja Batteries Limited is the technology leader and one of the largest manufacturers
of lead acid batteries for both industrial and automotive applications in the Indian
storage battery industry.
Investment Rationale
Outlook & Valuation
We believe that Amara Raja would continue to gain market share in both OEMs and
replacement businesses led by newer technologies and shift towards organised player.
New revenue streams like tower-monitoring systems with demand rebound in telecom
and commercial market segments will lead to strong growth in industrial business.
The stock is currently trading at 19x FY22E earnings.