INSUBCONTINENT EXCLUSIVE:
Edelweiss has maintained buy rating on Amara Raja Batteries in the long term with a target price of Rs 801
Shares of Amara Raja Batteries ended down 0.6% at Rs 720 on Wednesday while the BSE Sensex closed 52.28 points up at 41,306.02.
Company
FinancialsFor the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 1695.31 crore, down -6.59% from last quarter
sales of Rs 1814.95 crore and down -3.29% from last year same quarter sales of Rs 1753.05 crore
The company has reported net profit after tax of Rs 218.61 crore in the latest quarter
Valluripalli, Mr.T R Narayanaswamy, Ms.Bhairavi Tushar Jani
Company has Deloitte Haskins - Sells LLP as its auditors
As on 30-09-2019, the company has a total of 170,812,500 shares outstanding
Investment RationaleThe tax cut gives battery players power to enhance investments and R-D for technology upgradation, it said
The brokerage estimates 7% sales CAGR and 15% Ebitda CAGR over FY19-21.