Amara Raja Energy shares trade 1% higher on big 'Atmanirbhar Bharat' push; check details

The stock rallied after the company announced that Hyundai Motor India (HMIL) said it would equip its domestic product line-up with Amaron's battery technology.

The Amaron's Made-in-India AGM (Absorbent Glass Mat) battery technology will be used as an SLI (Starting, Lighting, and Ignition) battery and will be procured under the company's existing procurement agreement with Amara Raja Energy & Mobility, the automaker said in a statement.

HMIL aims to equip its models with indigenously manufactured AGM batteries in Q4 of FY 2024-2025, making it the first auto OEM in India to use localised AGM technology.

The move is in line with HMIL’s dedicated efforts towards localisation and introducing locally sourced innovative technologies for Indian customers, the company's press release said.

Commenting on the announcement, Gopalakrishnan Chathapuram Sivaramakrishnan, whole-time director and chief manufacturing officer of HMIL, said, “At Hyundai Motor India Limited, adopting innovative technology to exceed the ever-evolving customer expectations has been our forte. HMIL is poised to become the first auto OEM in India to introduce indigenously manufactured AGM (Absorbent Glass Mat) battery technology in its products, made by Amara Raja Energy & Mobility Limited."

Besides, working with an Indian company for this world-class technology is a true testament to HMIL’s commitment towards localisation, well aligned with the Government of India’s ‘Atmanirbhar Bharat’ initiative, Sivaramakrishnan added.

"The Made-in-India AMARON AGM batteries have successfully outperformed conventional CMF (Complete Maintenance Free) batteries by about 150% in rigorous real-world durability tests. With a wider operational temperature and longer life span, AGM batteries are an apt fit for dynamic Indian driving conditions," the press release said.

Amara Raja Energy & Mobility Q2 FY25 Results

Amara Raja Energy & Mobility reported a 6.32% rise in its net profit to ₹240.71 crore on an 11.55% increase in revenue from operations to ₹3,135.83 crore in Q2 FY25 as compared with Q2 FY24.

The revenue growth was aided by year-on-year healthy volumes registered in the automotive aftermarket and export markets.

During the quarter, profit before tax stood at Rs 323.97 crore, up 4.94% from Rs 308.73 crore posted in Q2 of FY24, as per news reports.