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Amara Raja Posts 5.2% Revenue Growth in Q4 FY 2025, Driven by Energy Storage and EV Battery Sales

Amara Raja Energy and Mobility reported a 5.2% year-on-year (YoY) increase in revenue from operations for the fourth quarter (Q4) of FY 2025, reaching Rs3,060 crore , up from Rs2,907 crore in the same period last year. However, despite top-line growth, the company witnessed a decline in profitability. EBITDA fell to Rs340 crore from Rs410 crore in Q4 FY 2024, with the EBITDA margin shrinking to 11.1% from 14.1%. The profit after tax (PAT) also dropped to Rs161 crore, compared to Rs229 crore in the previous year. Earnings per share (EPS) for the quarter declined to Rs8.83 from Rs12.55.

New Energy Segment Shows Strong Momentum

Vikramadithya Gourineni, Executive Director of the New Energy Business, noted that the segment registered 35% growth in revenue during the quarter. The performance was primarily fueled by strong demand for energy storage systems (ESS) and electric vehicle (EV) battery pack sales, particularly from the telecom sector.

FY 2025: Revenue Growth Offset by Margin Pressures

For the full financial year, Amara Raja recorded Rs12,846 crore in operational revenue, marking a 9.7% YoY growth over FY 2024’s Rs11,708 crore. Despite the higher revenues, EBITDA declined by 2.5% to Rs1,616 crore, with the EBITDA margin narrowing to 12.6% from 14.2%. The company attributed the decline in margins to rising alloy prices and higher energy costs, the latter influenced by changes in solar power settlement regulations and fuel surcharges. The annual PAT stood at Rs944 crore, slightly above the Rs934 crore reported in FY 2024. EPS for the year was Rs51.62 .

Automotive Division and Market Expansion

Harshavardhana Gourineni, Executive Director for the Automotive and Industrial business, stated that all automotive battery segments delivered strong results in FY 2025. OEM sales for four-wheelers rose 15% YoY, while the aftermarket segment for four-wheelers saw 9% growth. The two-wheeler battery segment also recorded solid growth, supported by increased demand from OEMs and the replacement market. Export revenue, however, saw a 10% YoY decline in Q4 due to tepid demand across major markets in the West and Asia-Pacific.

Giga Factory Progress and R&D Expansion

Amara Raja has commenced construction of its Giga Factory-1 at its Telangana industrial park. Its customer qualification facility and R&D center are also nearing completion. The company noted that customer feedback on battery packs and charging systems has helped refine product offerings to better match diverse use cases. The reported quarterly figures also reflect Rs100 crore in internal ESS sales to the telecom division, included in the standalone results.