Amara Raja Batteries Ltd

Date: 14th April'18

CMP: Rs.813 (Buy & Accumulate on Dips)

! "#$% &'()*+ , -к) /' 01! 2

к 34 *5 67 56 ( 8 9 :(;

<=>?к)@A &B 01% CDE Fк) /' 01! !GH

к I J&B K 69Lк M N < к)<? OPк)!Q 2

MARKET CAP (RS CR) 13882.79
> >R 2000S > S5G !? T ,U* 3 T 01% COMPANY P/E 30.14
INDUSTRY P/E 29.58
H, S$ VH I #&B KA 9W (
EQUITY (RS CR) 17.08
X Y L O*+(Z[ "# ]\8 KR ^_[Q EPS 26.97
BOOK VALUE (RS) 151.81
> @ 01 `?к) 01% M \ !J E6ab8 cde2f FACE VALUE (RS) 1

gh * &B@ i j$ X Yc d 3k c
HISTORICAL RETURNS
X Y !=f 6 () g>l \ T 01%
Period %
1 Year -6.22%
E(6amкJ n 4 \ o, 3pq E(6m [rG * (;
2 Year -9.72%
g< !? s t T! *(X ` <I^_C+#u 3 Year -7.39%
4 Year 100.46%
K v (; w<(xy! 2 > >R к) n zN#u *(X 5 Year 234.33%

C0{ ^_Cк5b S|}>l ?^_Q O% 1985(;^U

! 5 \ 5 ,U [Q z ˆк) 01%
к) ~• €{ H KA H €•^_ 1992(;
5 b5 I q ‰€' … X ON, 675l 6 ŠN 9c
T5‚
l O(; &_ v?[к X !?~ кP \ o ƒ t„ …
(; ‹, G 5CX S g /{ #=
l
F N †y 01% 5 b5 †6 Q(W[
<=>?к)@A &B 01 % I ` (;^U 0{Œ
O*+ OPк) ‡, !GH&B M N <
X Yc 8•10(; Mк [()KAl 01 2

> >R % X Yc (xкY( 6

I h 5

PYT Page 1
 X Yc g()S >? X O 5 Ž„CH €_( O% dSLI - K $, (xyc, n \Q Hf% k ! ()

• ! к 4G(; >? X O •%% M69 /‹ • €• g<? « S> (!?

¬ 9Pg% nк €-8 y6aJš (!? • E(6amr

•%325006‘ i% n <?(; #= ’@“ "
\®¯(), (), ‹J° 6 O, ªJ /'y к)
67!K *+&B 01% • 69S( €{ #u к 34()
• ’ \Kl O%
2 X Yc!? ” t>l ?^_Q•% , (; w< 01

E6–Gq, €— 01 % ˜ ^™y:š 2 n(X E[Q 6 () •^_Q n N 6± ^Uк

#u > >R ( , •› 90 ” 5 S кœ • 01% S> (к) (xq CX tq (69

ž •› ‹ˆ(; E(6amr ,™|}кJG ,™y z !=¥ ! €• X q • 01% h 5 (xq CX tq

I ` &_ >6al E<? O`=>?l!Q X Yc w5l (; 60 ” 5 ,

5 OŸ (; 2 5 к 34(к) \[Q c !? /{ SKAl 01% 5 bL KR ! (;

S6 ” () (¡ `!?^_Q•% 2020к(X 6 n # ²³ S> (к) ª [ Eк)YS

¢„CH E(6amr, |£¤ŽIq , ¥^_(!? g[’ \Kl O% K q ´y S$ 6‘> –(Zb(),

‹€'š 6aY /{ <?к) s

I +5b @A I &_G¥6 () к
I /{ KA (X$, †„6 > >R () ª [ g[’ \Kl •%

’`!(; • 01%
5 µ ¬C KR •(; 2021 ^_ 6a

X Yc g()S 17.26 Ž„CH €_( к) d •%

1.12 (¶( 6‘ if E<?*+5© <[ e `^_%

S> [6a 5*˜ i ( • к(N!
F€_016a 4.15 ” 5 /Š zN! S·01¸[ кœ€_
• i 01% I¦_! (xq, „§1C , [6J ¨ š
! <? /{¹`P[ h g>?l^_Q O% 675l |£¤ŽIq,
• •% KA 9: S> (&B @ i ¦1к
E(6amr , ¥^_( 5CX 6a w J
´y > >R ()
g<? 5©
l S> (к) (xq • CX tq (!?
@A … ## , ` + O h [Q 5 ˜ \`?к)^U <?к)
Eк)YS g[’ \Kl O% nк „§1CH • CXH
ggv 0{” () ` () /{ # , (;
(!? @A +J €•,™yˆ(), T!Q T!Q
E(6m [rG g[’* 3 z, , Ÿ_ * (;
• к Ÿ_(к) • ’ \Kl O%
€• X q 3 *# S g кœ€_ S·01¸ 6a 0— ¥<
, >l , [6a cк) K $ /{Kl C[ h g>?l^_Q O%
() > \@A &_•% ª [ E EJ‰ O

PYT Page 2
 к , ¥! gh * (; :, |Å ‹ &B

M N 0_() к)<? OPк) 01% 2 Rк

\
к 34 01b`кº , ¥! ((; 11 ¢„CH
> S5G (; > Æ () @I ¡ T 01% , ŸÂ
CD[ , ] \к K R »[Q к„ \ • 01% 4 ª($
, ¥! gh * (; ,Ç(;bк) () > Æ
gh * (; F€_016a 10.5 ¢„CH CD[
/{Kl A 01% 2 (; ¥È É CD3²E X Y
(!? •@“ 01 /{ >&_l!? к„ \ • 01%
‡ +($ gкºCX(!? @I ¡ T 01%
01b`кº , ¥! * (; 3 O*+5©!Q €• X qк)
<®•Ÿ_ tCX, v @I ` 0{” (к) (!?
!?*+Ÿ I>l ?5 T5‚
l $ CD[c(;
E*+ L /{Kl A 01%
<! 14 ¢„CH ( 5CX @ i

F N i(; • 01% к 34 6 ((; ! "#$%

gh * !? /{ 60 ”5
n # tC
³ J gh * (; 2.3 Ž„CH
(¡>?l # g”¼ ½ 0{ш Rк
\ S S>R >* i!
F|£Ê ª $EJF K R »[Q к„ \ • 01% 7.2
5.8 ” 5 /Š zN! S·01¸ K ¦1 kl @ t $
F|£Ê !? T 6,000 F|£Ê S кœ (!?
, ¥^_( > х >
I l ?5 2.8 ¢„C! !? T
•@“ 01 `*( K ¸ »[Q <?к) 01% †„к ,
2026к(X 10-13 ¢„C!к) 8/{C*(<[
–(Zb(), S$ 5015 () g[’ \ /{
`^_% nк 0{Œ 01b`кº , ¥! gh * 2016-
n # tC
³ J gh * !? T к 34 0_C (;
17(; 17.7 ¢„CH CD[ 6 ( 0_b
40 ” 5 > кœ O&B 01% к 34 к> (;
/'y^_, @ H 5 O, 5 L3<À X Yc \6 š O
n # S$G, ,Ë€_~A H, ÌE EHEJ, ‰ÌE ,
>·Át T 01% nк , ŸÂ , ¥! X Yc кœ€_
t … r, ÁyQ#$, h ¬, … ²E , $‰EJ,
!?!Q ‰0{-(; 14 ”5 , ] \к S·01¸[
6 8 ¢[ 5015 01*˜ ()^_Q•% > 0
I _C
K ¦1 `!?!Q i `^_% Äк ><?@ CX(
5CX \шº (к) 5 n …S( €•Í J
к(N!, ŸÄк Ÿ, 3 O*+5©!Q 0_CX(),
DÉ S# &B \[Q gh ( !? T
>?(s OŸ_() S ” () * (;
n # tC
³ J (к) €• X q z#u&B 01%
S·01¸6a \ 5 ( /{кœ OKl •%
6a o, LÎ * , , Ÿ_ S n5

*&{€_01(; 1 ¢„CH CD[ ‡ +($ ( !? T y5 €• X q 3 O*+5©!Q i

( 5CX @ i!? @I ¡ T 01% 01b`кº к 34 /' +&B 01%

PYT Page 3
 '& '( ) 9Át’( g CX[6a S kl $e2dRoE- \ $Q

H 26ab …f 2016(; 25.8 ” 5 , 2017(; 20.3

”Ïr (Z(X q, |Å 0_I, ƒtCc, ! J
”5 ! 0'y 01% RoCE ( \ $Q H 6 3t J
$G, ¥Ð 0_Ñ, $G, X OL,
E @ Ñšf 2016(; 16.2 ” 5 , 12.1 ” 5
~A $š , €'y $ 6aº>$, X OL tbÒ
! 0'y 01% €'c 26ab … 0.2 ” 5 • 01%

*%+,-./0 1
!=¥ ! \ 6± S# S·01¸6a

256a 3y 0{” ()% ¦

I _! k„
³ CX, к„K“ TP 01% •&{ n # tC
³ J c X5I

(ZÁtCX, t * Ó$, o6 o, gC&_Q , 2 K \ 6 >l [ O&_G¥ \T 01% CD3²E ,

X \ , @ H, /'y^_, ƒt„3²NHG †„6 i X5I 6 >l

Æ , (Z<[3t /_•% n zN#u!Q \ R t5©(;

234к 5678/0 )
†„6 * !? T h š O S/{P

*&{€_01d2016-17)(; w5l 6 () •% S6 ” () X5I 5к)Y,U% M \Í!J

5,981 6‘ !? &_к %% [ b¥Ÿ (Xs •% 702 E6ab8 c, 3k c X Yc (; 5!

6‘ к) /{ \ 01% •%478 6‘ [к (Xs i!? 67!K \>l =^U • 01% 0{ŒC

µ \ T 01% •% 28 23²E K ¦1 T 01% I>l ?5 6Õ ! 6 [Q @“ <?5‚^U 9QCX tCX,

R \к > S5G d2017-18) &Ô„ 9 ^™((;dF3tIJ• ÖP X tCX 0{” (к) F 69#u E*+ 5©(!?

€• $f w5l 6 () •% 4478 6‘ !? 3 `?5‚ SKAl 01%

&_к %% •% 544 6‘ [ b¥Ÿ (Xs µ\ T 01%

9":;< =>8 )
[к (Xs •% 361 6‘ !? ¦1*¢ ` %% •%

21.2 23²E K ¦1 T 01% (xq v () 3 \ \^_ ggv žI к 9W > >R ( 6

I

EŽ X µ\!(; S·01¸ ! <Sz&B 01% ! 0_C 2018(; •%6133 6‘ i, 2019(;

[ b¥Ÿк) &B#u 6701À v () 3 `# S( •%7039 6‘ i ! <? 6 ,Ë`P[ `^_%

X µ \!!? tR , O ˜ • `?к)^U C
I 5Q 0{ > C (; X µ\!? 15.3, 15.6 ” 5

/{Kl A 01 % • €× `?P% 23²E кœ€_ •%31.10, •%35.80

• €× `P[ h g>?l^_Q O%

PYT Page 4
?@/0;AB:C ) <ш( , \ 5 g>l \>l ?^_Q O% 2018

Ó l •› ^_ 6a 2 ª($ ( , ]\к 5CX

H, S$ VH I # \¦1 3 O*+&B 01%
K ¸» 15 ¢„C!к), 4 ª($ 6@ t … 12.30
E(6amr ,™|}кJGк) ž •› ‹ˆ(; €• X q
¢„C! KR •6a /{ O6‘S`P[ `^_% 675l
\ 5 3 * ž 5©!Q ^U v (; ,
6@ t …() <? i(;6a S# S( ª-Ø ¥È
E6–Gq (X ˜ ^™y:š > >R (к) к„K“ >?l 01% 2
CD3²E , KA (X$, S$ gh (;6a
> >R 6@ t … C+ (xy 9 H dK R»
#u*+3 • <?к) 0— ¥< #ul 01%
g[’* f 3²r(; • 01% 2 ª($, 4 ª($

к 34 C+ (xy 9 H 90 ” 5 S кœ

• 01% 2 ª($ 5CX 6@ t …[ ª-Ø

PYT Page 5