Amara Raja Energy & Mobility

ARE&M · NSE · Mid Cap

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Storage·Listed·Directness 32/100

Amara Raja Energy & Mobility

Battery maker investing in lithium-ion gigafactory in Telangana.

Storage
Hold
Last price
₹869.00
52W: ₹670 – ₹1,096
-20.7% from 52W high
Mkt Cap
₹15.90K Cr
P/E
23.2x
EV/EBITDA
10.0x
ROCE
16.2%
ROE
11.9%
Book Value
₹423.0
Promoter
32.9%
Real financial data sourced from Screener.in · annual + quarterly statements below

Scoring breakdown

SageOne-style fundamental · TQ-100 technical · solar overlays

B
Fundamental (30%)
67
Valuation (20%)
90
Technical (20%)
57
Solar exposure (10%)
32
Policy beneficiary (7.5%)
70
Project pipeline (5%)
72
Governance safety (7.5%)
80

52-week position

Real snapshot from Screener

₹670Current: ₹869₹1,096
P/E
23.2x
P/B
2.1x
Div Yield
1.20%

Investment thesis

One-liner · bull · bear · monitorables

One-liner. Amara Raja Energy & Mobility: RTC renewable mandate and PLI for ACC make storage a structural multi-year theme.

Bull case

Bull case for Amara Raja Energy & Mobility: continued capacity ramp at attractive unit economics, supportive policy (PLI / ALMM / RPO / open access), benign module + commodity cycle, healthy receivable conversion, and re-rating from current valuation as execution beats consensus.

Bear case

Bear case for Amara Raja Energy & Mobility: module/tariff price crash, working-capital blowout from DISCOM receivables, leverage spiking past 4x net-debt/EBITDA, ALMM/PLI delays, Chinese dumping, and de-rating to historical median multiples on growth disappointment.

Key monitorables
  • 01Quarterly capacity commissioned vs guidance
  • 02Receivable days from DISCOMs and large customers
  • 03Net debt / EBITDA trajectory
  • 04Order book to revenue cover

Solar exposure

Directness · policy linkage · BOM

Primary segmentStorage
Directness32/100
ALMM eligible—
PLI beneficiary—
Imported BOM—

Valuation snapshot

Multiple methods · solar-specific multiples

MethodValueHist %ile
P/E (TTM)23.2x—
Forward P/E——
EV/EBITDA10.0x—
EV/Sales1.3x—
P/B2.1x—
FCF Yield1.4%—

Project pipeline

0 tracked projects

No tracked projects.

Financials

Source: Screener.in (consolidated) · ticker ARE&M · last updated 2026-05-11

Open on Screener.in
Market Cap
₹15.90K Cr
Price
₹869.00
Stock P/E
23.2x
Book Value
₹423.0
ROCE
16.2%
ROE
11.9%
Div Yield
1.20%
52W Range
₹670 – ₹1,096

Ratio analysis (derived from statements)

Growth · profitability · returns · leverage · cash flow · valuation

Growth
Sales 1Y9.7%
Sales 3Y CAGR13.9%
Sales 5Y CAGR15.8%
PAT 1Y1.2%
PAT 3Y CAGR22.6%
PAT 5Y CAGR9.9%
Profitability
OPM latest13.0%
PAT margin latest7.4%
PAT margin 3Y avg7.5%
ROE11.9%
ROCE16.2%
Asset turnover1.26x
Leverage & cash
D / E0.04x
Net Debt / EBITDA0.16x
Borrowings / Assets2.6%
CFO / EBITDA0.83x
CFO / PAT1.43x
FCF (TTM proxy)₹219 Cr
Valuation
P/E23.2x
EV/EBITDA10.0x
EV/Sales1.26x
P/B2.05x
FCF Yield1.38%
Div Yield1.20%

Annual P&L · 5 years

₹ Crore. Source: Screener.in consolidated.

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Sales7,1508,69710,39211,70812,846
Operating Profit1,1171,0311,4471,6621,622
OPM %16%12%14%14%13%
Net Profit647513731934945
EPS (₹)37.8730.0142.7951.0551.61

Quarterly results · last 4 quarters

₹ Crore.

MetricSep 2024Dec 2024Mar 2025Jun 2025
Sales3,2513,2723,0603,401
OPM %13%12%11%11%
Net Profit236298162165

Balance sheet · 5 years

₹ Crore.

ItemMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital1717171818
Reserves4,1934,5355,9906,7807,371
Borrowings92126201157261
Fixed Assets—————
Total Assets5,7976,3767,9618,97610,161

Cash flow · 5 years

₹ Crore.

ActivityMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating8026339451,2661,351
Investing-616-482-773-1,020-1,132
Financing-122-213-112-242-160
Net Cash Flow64-6260459

Shareholding pattern

Latest disclosed

Promoters
32.86%
FII
17.31%
DII
16.95%
Public
32.88%

Policy linkages

Schemes where this company is a confirmed or likely beneficiary

No direct policy linkages tracked.