Tuesday, August 27, 2013: Amara Raja Batteries Limited (ARBL), which is a manufacturer of advanced lead acid batteries for industrial and automotive applications has come up with a strategy blueprint to make a strong presence in the Indian storage battery sector. Now, it is on its way to make the largest investment since its inception with more than Rs 7 billion project including brownfield expansion at the already existing facility in Tirupati as well as a greenfield facility near Chittoor. This expansion is supposed to get over by the financial year 2015.
“The commissioning of these facilities would enable to strengthen shareholder value on a sustained basis and form a strong foundation for embarking on the next growth journey –– taking the Amaron brand experience global,” explained Jay Galla, vice-chairman and managing director of ARBL at the company’s 28th Annual General Meeting, Business Standard reported.
Galla stated that the expected economic stability and the prevailing power crisis situation in the country over the medium term will increase the demand for ARBL’s products. Moreover, he added that the addition that is done in the two-wheeler battery capacity will provide a solution to the battery requirements of the two-wheeler OEMs (original equipment manufacturers) from a singular presence in the replacement market.
There was 28.51 per cent increase in the net profit to Rs 978 million for the first quarter ended June 2013 in comparison to Rs 761 million in the corresponding quarter the previous year.
