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Battery stocks in Q4: Positive long-term outlook, buy

Amara Raja and Exide both earn around 45 percent of their respective total revenues from replacement demand.

June 23, 2020 / 01:22 PM IST
Battery stocks in Q4: Positive long-term outlook, buy

Battery companies posted numbers in line with expectations in Q4 FY20. Amara Raja Battery (ARBL) (CMP: Rs673.5, Mcap: Rs11,504 crore) posted a muted top line whereas for Exide Industries’ (Exide) (CMP: Rs152, Mcap: Rs12,920 crore) top line declined in double digits. The automotive replacement market continues to be strong and a softening of raw material prices helped companies on the operating profit margin front. The long-term outlook remains positive, driven by a subtle shift towards personal mobility, leading to increase...

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