Amara Raja Committed to Excellence in Environmental Practices, Taking Measures to Protect the Interest of All Stakeholders

Amara Raja Batteries Limited ("The Company" / "ARBL") has received closure orders dated 30 April 2021, from the Andhra Pradesh Pollution Control Board (APPCB), for the Company's Plants situated at Karkambadi and Nunegundlapalli, Chittoor District, Andhra Pradesh effective immediately.

The Company is taking all necessary steps to comply with the orders given by APPCB and also has pressed into action its contingency plans to avoid dislocation in supplies of batteries to its customers across product segments including essential service segments like defence, hospitals and telecom. The Company is examining all options and preparing for all possible recourse that are available for the organisation, to ensure that interests of society at large, customers, suppliers, partners and all employees are protected.

"We shall continue to make our efforts to engage with APPCB authorities in the interest of avoiding a dislocation in supplies to some of our largest clients in sensitive sectors. At a time of a national emergency in the form of the Covid pandemic, such a dislocation could be calamitous. All our manufacturing plants have undergone various annual/bi-annual environmental audits and certifications over many years and have received several awards for safety and environmental sustainability and have adhered to the highest norms of Environment, health, safety. Our choices have always been guided by a commitment to society that are socially and environmentally responsible," a Company spokesperson said.

The Company have earlier made representations to the State Pollution Control Board officials on various environmental control measures that are deployed in line with industry standards, regulatory requirements and the improvement actions being initiated. The Company is hopeful of a satisfactory resolution which is in the interest of all stakeholders.

Shares of AMARA RAJA BATTERIES LTD. was last trading in BSE at Rs.810.7 as compared to the previous close of Rs. 802.6. The total number of shares traded during the day was 62043 in over 3061 trades.

The stock hit an intraday high of Rs. 814.55 and intraday low of 797.3. The net turnover during the day was Rs. 50080759.

Source : Equity Bulls

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