*HYDERABAD : *Leading industrial and automotive battery manufacturer, Amara Raja Batteries Limited, has registered a top line growth of 12% for FY 2009-10 recording net revenue of Rs.1465.2 crore over Rs.1313.2 crore in FY 2008-09.
For the same period, the Company achieved a PBT of Rs.254.6 crore compared to Rs.122.7 crore in FY2008-09. The company has earned a net profit of Rs.167 crore for the FY 2009-10, recording a growth of 107% over FY 2008-09. During the fourth quarter of the financial year 2009-10, the company recorded net sales of Rs.432.5 crore , a growth of 32% compared with the corresponding period of previous financial year. The Profit After Tax (PAT) was recorded at Rs. 36.7 crore as against Rs. 28crore. Commenting on the results, Jayadev Galla, Managing Director said, “The financial year 2009-10 has been a significant year for us with highest ever profits in the history of the company. The recovery in automotive industry, operational excellence aided by organisational restructuring and strong brands have enabled us to post excellent results.” Further, he added, “Going forward, we continue to face the challenges of volatility in lead prices and forex rates in managing our performance. While we are upbeat on our prospects in automotive battery business, we are alive to the challenges posed by the changing landscape in the telecom industry.” The board of directors has adopted a dividend policy for distributing up to 15% of the Profits After Tax (PAT) to the shareholders. Accordingly, the board has recommended a dividend of Rs.2.90 per equity share of Rs.2/- each for this year. The Company's Industrial Battery Division witnessed double digit growth in sales and volume during the financial year 2010. During the year, the installed capacity of Medium VRLA was enhanced from 1.20 million to 1.80 million units per annum. The enhanced capacity would help the company to consolidate its market position in the growing UPS battery market. The two leading brands viz., PowerstackTM and QuantaTM of the Division have continued to remain the preferred brands in Telecom and UPS segments. Company's Automotive Battery Division revenues grew by 18% over the previous financial year. The growth in sales volume outpaced the industry growth both for automotive and motor cycle batteries. The operating performance of the Division had significantly improved on account of higher capacity utilization. The Board of Directors had approved the further capacity addition both for Automotive and Motorcycle batteries. During the year, the Company launched second variant in the motor cycle batteries with VRLA technology - BETA Series with 48 months warranty in the aftermarket, catalysing the conversion of customer preferences. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
