Rs 4.80/ Share Dividend: Auto Ancillaries Stock's Ex-Date 3-Days Away, Motilal Oswal Assigns Call

Amara Raja Energy & Mobility Limited (ARE&M), formerly known as Amara Raja Batteries Limited, a comprehensive solutions provider in the Energy & Mobility space, on October 31, declared its profit before tax at Rs 293.46 crores for Q2 of FY'24 registering a growth rate of 6% over Q2 of FY'23.

It also announced an interim dividend of Rs. 4.80 (480%). Last trading price of Amara Raja Energy & Mobility Limited share on BSE is Rs 628.25 per share with intraday gain of 1.17%. Amara Raja Energy shares soared 10% in last 1-year and fell 10% in 2-years.

Speaking about the results, Jayadev Galla, Chairman & Managing Director of ARE&M said, "The last quarter marked a significant milestone in the Amara Raja growth story as we announced our official name change from Amara Raja Batteries to Amara Raja Energy & Mobility. This strategic change underscores our commitment to the evolving nature of the industry by moving away from being just a battery maker to becoming a comprehensive solutions provider in the Energy & Mobility sector." Check details below:

Amara Raja Energy & Mobility Limited To Go Ex-Dividend: According to the BSE filing of the company dated October 31, "Pursuant to Regulation 30, 42 and 43 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors had declared an interim dividend of Rs. 4.80/- per equity share (representing 480%) of Re.1/- each fully paid up for the financial year 2023-24 and the said interim dividend will be paid on or before November 29, 2023." The Board of Directors had fixed Friday, November 10, 2023 as the "Record Date" for the purpose of payment of Interim Dividend for the Financial Year 2023-24.

Amara Raja Energy Stock Performance & Return: Last trading price of Amara Raja Energy share on BSE is Rs 628.25 apiece. Its 52-week high price is Rs 708.45 per share and 52-week low price is Rs 540.55 per share, respectively. The company's market capitalisation is Rs 10,731.30 crore. Amara Raja Energy shares fell 0.53% in last 1-week, soared 3% in last 6-months, fell 22% in last 3-years, declined 18% in last 5-years, and soared 104% in last 10 years.

Motilal Oswal Recommends Neutral Rating: According to the analyst's report dated November 2, 2023, "The stock trades at 12.7 x/11.5x FY24E/FY25E EPS. We reiterate our Neutral rating on the stock with a TP of INR660 (12x sep'25E EPS), as the expectation of better earnings growth balances out the increasing threat of lithium chemistry to the Auto and Industrial businesses."

About: Amara Raja Energy & Mobility Limited (ARE&M) encompasses a diverse range of solutions and products, which includes energy storage solutions, Lithium-ion cell manufacturing, wide range of EV chargers, Liion battery pack assembly, automotive and industrial lubricants, and exploration of new chemistries, among others. ARE&M is also one of the largest manufacturers of energy storage products for both industrial and automotive applications in India. Amara Raja is the preferred supplier to major telecom service providers, telecom equipment manufacturers, the UPS sector (OEM & Replacement), Indian Railways, and the Power, Oil & Gas industry segments.

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