Hold Amara Raja Batteries, target price Rs 500: ICICI Direct

ICICI Direct has hold call on Amara Raja Batteries with a target price of Rs 500. The current market price of Amara Raja Batteries is Rs 484.75.

Amara Raja Batteries Ltd., incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 8333.94 Crore) operating in Auto Ancillaries sector.

Amara Raja Batteries Ltd. key Products/Revenue Segments include Batteries (Storage), UPS/Uninterruptible Power Supply Systems, Sale of services, Export Incentives and Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2637.52 Crore, up 20.05 % from last quarter Total Income of Rs 2196.93 Crore and up 38.61 % from last year same quarter Total Income of Rs 1902.79 Crore. Company reported net profit after tax of Rs 132.01 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 28.06 per cent stake in the company as of 30-Jun-2022, while FIIs owned 18.34 per cent, DIIs 10.82 per cent.