Views on Amara Raja Batteries Ltd (ARBL) 1QFY2016 Results - Angel Broking

Views of Mr. Bharat Gianani (Sr. Research Analyst - Automobile, Angel Broking) on Amara Raja Batteries Ltd (ARBL) 1QFY2016 Results:

Amara Raja Batteries Ltd (ARBL) 1QFY2016 results were in line with estimates. ARBL continued to gain market share in the battery segment, posting a double digit revenue growth during the quarter. Tapping of new OEM customers lead to a healthy topline growth. Operating margins at 18.2% improved yoy mainly driven by softness in the key raw material viz (Lead). Given the double digit topline and improved margins, the Adjusted Net Profit grew robustly 17% yoy to INR 124 cr, meeting our expectations. We continue to maintain NEUTRAL view on the stock given the rich valuations.

Shares of AMARA RAJA BATTERIES LTD. was last trading in BSE at Rs.937.55 as compared to the previous close of Rs. 910.95. The total number of shares traded during the day was 18454 in over 1432 trades.

The stock hit an intraday high of Rs. 949 and intraday low of 928. The net turnover during the day was Rs. 17345453.

Source : Equity Bulls

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