AMARA RAJA BATTERIES LTD - FIRST QUARTER RESULTS - Q1 FY 2013 - NET SALES UP31.61%; NET PROFIT UP 95.13% YoY

AMARA RAJA BATTERIES LTD

FIRST QUARTER RESULTS

Q1 FY 2013

AMARA RAJA BATTERIES LTD has declared a good set of results for the First quarter ending June,2012.

HIGH LIGHTS

Net Sales for Q1 FY 2013 stands at Rs.690.78Cr; up by 3% from Q4 FY 12 (Rs.670.64Cr); and up by 31.61% from Q1 FY 2012 (Rs.524.86 Cr). As we can see, Net Sales have recorded good increase YoY.

Total Expenditure    for Q1 FY 2013 stands at Rs.587.2 Cr; down by         -0.12% from Q4 FY 12 (Rs.587.88 Cr); and up by 25.41% from Q1 FY 2012 (Rs.468.23Cr). There is reasonable control over expenditure.

Profit  before Interest, Dep. & Taxes for Q1 FY 2013 stands at Rs.103.58 Cr; up by  25.16% from Q4 FY 12 (Rs.82.76 Cr); and up by 82.91% from Q1 FY 2012 (Rs.56.63Cr).  EBITDA has recorded significant improvement QoQ and YoY both.

Net Profit  for Q1 FY 2013 stands at Rs.76.09 Cr; up by  30.55% from Q4 FY 12 (Rs.58.29 Cr); and up by  95.13% from Q1 FY 2012 (Rs.39 Cr). Net Profit improvement is impressive.

Diluted EPS      for Q1 FY 2013 stands at Rs.8.91; Rs.6.82 for Q4 FY 12;and Rs.4.57 for Q1 FY 12.

52 week high/low price : Rs.378.90/190.00; current MP :Rs.364.35.

Paid-up Equity stands at Rs.17.08 Cr; Of which Public Holding is about 48%.

RESULTS TABLE

AmaraRaja	30-Jun-12	QoQ %dif	31-Mar-12	YoY %dif	30-Jun-11	31-Dec-11	30-Sep-11
Net Sales	69078.44	3	67064	31.61	52485.64	61222.97	55865.69
Total Expenditure	58719.97	-0.12	58788.03	25.41	46822.52	51881.61	48389.07
Profit  before Interest, Dep. & Taxes	10358.47	25.16	8275.97	82.91	5663.12	9341.36	7476.62
Net Profit	7609.49	30.55	5828.8	95.13	3899.62	6592.68	5185.16
Diluted EPS	8.91	30.65	6.82	94.97	4.57	7.72	6.07
Net Sales	69078.44	3	67064	31.61	52485.64	61222.97	55865.69
Cost of materials consumed	43260.83	15.14	37571.9	12.03	38616.4	37885.57	35534.81
Purchases of stock-in-trade	5151.74	12.46	4581.04	144.15	2110.1	1489.36	461.62
Employee benefits expense	2924.5	20.44	2428.12	43.65	2035.87	2146.99	2150.11
Depreciation	1293.2	5.75	1222.84	21.82	1061.57	1197.4	1165.47
Other expenses	8220.13	-23.76	10781.47	19.63	6871.24	7872.16	7480.32
Total expenses	58719.97	-0.12	58788.03	25.41	46822.52	51881.61	48389.07
Profit  before tax	11232.08	29.66	8662.4	93.89	5793.15	9801.76	7685.09
Tax Expenses	3622.59	27.84	2833.6	91.31	1893.53	3209.08	2499.93
Net Profit	7609.49	30.55	5828.8	95.13	3899.62	6592.68	5185.16
Face Value	2	0	2	0	2	2	2
Paid-up Equity	1708.12	0	1708.12	0	1708.12	1708.12	1708.12
Diluted EPS	8.91	30.65	6.82	94.97	4.57	7.72	6.07
Public Shareholding (%)	47.94	0	47.94	0	47.94	47.94	47.94

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Amara Raja Batteries Limited - SALES UP -PROFIT DOUBLES IN FY10 - FUTURE GOOD

Amara Raja Batteries Limited

NSE Symbol        AMARAJABAT

COMPARISON OF FY 10 WITH FY 09 RESULTS

Result Type ::Audited, Cumulative, Non-Consolidated

REVIEW

Net Sales  has increased  to  Rs.1465 Cr from  Rs. 1318 Cr YOY ( by Rs.147 cr or 11.15%)

Net Profit  has increase more than proportionately to Rs. 167 Cr in FY 10 from Rs.80 Cr in FY 09 ( By 87 crores or 108.75%)

Dividend has therefore been increased from 40 % to 145% YOY.

Basic EPS has registered a smart rise to  Rs.19.56 in FY 10 from Rs. 9.42 on a face value of Rs.2, which is quite a nice progress.

The quarterly results comparison indicates that Both sals and expenditure have increased much in Q4 but Net profit in Q4  is down slightly compared to preceding Quarter, but still comfortably higher compared to last year Q4.

While demand for its batteries from Industrial sector is stable, demand from Automotive sector is expanding fast. So, it plans to increase capacity soon.

Judging from the demand situation, Amara Raja can be expected to  produce better result in FY 11.

At the current Market price of 166, the PE ratio is just8.49, which leaves room for price appreciation in the medium term.

RESULTS IN FIGURES

Description  ::  FY 10 (Rs. in lakhs)  ::  FY 09(Rs. in lakhs)

Net Sales ::  146520.96 :: 131772.3

Other Operating Income  :: 215.04 :: 640.4

Increase/Decrease in SIT & WIP:: -3568.77  :: 1534

 Raw Materials :: 91428.18 :: 84530.55

Purchase of traded goods:: 353.28 :: 850.86

Employees Cost  :: 6237.04 :: 5161.34

Depreciation ::    4294.51  :: 3455.64

Other Expenditure :: 23337.83 :: 19733.9

Total Expenditure :: 122082.07 :: 115266.29

Other Income     :; 280.36 :: 165.24

Interest     :: 677.16 :: 1823.66

Exceptional items :: -1206.35 :: 3222.13

PBT  :: 25463.48  ::  12265.86

Tax Expense  :: 8760.15 :: 4217.99

Net Profit ::  16703.33 ::  8047.87

Dividend (%) ::   145  ::       40

Face Value (in Rs.) :: 2 ::     2

Paid-up Equity :: 1708.12 :: 1708.12

Reserves  :: 52656.15 ::      38850.22

Basic EPS (in Rs.) :: 19.56  ::  9.42

Diluted EPS (in Rs.)  ::  19.56  ::   9.42

QUARTERLY RESULTS COMPARISON

Q/E ::31-3-10 :: 31-12-09 :: 30-9-09 :: 30-6-09 :: 31-3-09

Net Sales::  43247 :: 36685 :: 36063 :: 30638 :: 33024

Total Exp ::  38033 :: 30990 :: 28669 :: 24501:: 28311

Net Profit :: 3670 :: 3986 :: 4790 :: 4257 :: 2805

Basic EPS ::  4.3 ::  4.67 ::  5.61::  4.98 ::  3.28

ANNOUNCEMENTS TO THE EXCHANGE

19-05-2010        Amara Raja Batteries Limited has informed the Exchange that the Register of Members and Share Transfer Books of the Company will remain closed from July 22, 2010 to July 29, 2010 (both days inclusive) for the purpose of ascertaining the members eligible to receive the dividend if declared at the annual general meeting scheduled to be held on July 29, 2010. Further the Company has fixed July 29, 2010 as the date on and from which the dividend on the equity shares of the Company, if declared at the ensuing annual general meeting, will be payable at par.          -

19-05-2010        Amara Raja Batteries Limited has informed the Exchange regarding a press release dated May 19, 2010, titled "Amara Raja profit doubles in FY 2009-10. Amara Raja recommends a dividend of Rs. 2.90 per share on equity share of Rs. 2/- each for the year 2009-10".

19-05-2010        Amara Raja Batteries Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 19, 2010 have recommended a dividend of 145% i.e. Rs. 2.90 per share of Rs. 2/-, subject to approval of the shareholders of the Company.