Amara Raja Advanced Cell Technologies (ARACT), a wholly owned subsidiary of Amara Raja Energy & Mobility (ARE&M), has signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co. As part of the agreement GIB EnergyX will license Gotion`s world class LFP technology for lithium-ion cells to ARACT. This comprehensive agreement enables Amara Raja to manufacture world class LFP cells in both cylindrical and prismatic form factors. The scope of licensing provides access to cell technology IP, support in establishing Gigafactory facilities conforming to latest generation process technologies, integration with Gotion`s global supply chain network for critical battery materials, and customer technical support for solution deployment. The technology transfer and service support will fully complement Amara Raja`s efforts to operationalize its Gigafactory manufacturing capacities and its advanced research and innovation centre, `e+ Energy Labs`, that aims to lead India`s R&D capabilities in this field. Last year, Amara Raja announced an investment outlay of Rs 9,500 crores to establish the Amara Raja Giga Corridor in the state of Telangana. The company aims to keep their products competitive and contemporary through access to continuous improvements in cell performance and process efficiencies through the partnership period. Amara Raja and Gotion are both shareholders and board members of InoBat, an emerging lithium battery technology company in Slovakia, tackling advanced applications such as electric aviation and developing a robust `Cradle to Cradle` ecosystem of battery value chain. GIB, a joint venture between Gotion High-tech and InoBat, has recently signed an investment agreement with the Government of Slovakia for the development of the first LFP battery Gigafactory in the country. Gotion High-Tech has 8 global R&D centers, 8,000 patented technologies covering the battery industry value chain, 20 major manufacturing locations around the world, and a capacity layout expected to reach 300GWh by 2025.Powered by Capital Market - Live News

Amara Raja Energy & Mobility has agreed to further invest in securities of InoBat AS, (formerly known as InoBat Auto AS) Oslo Norway (InoBat) (holding company of InoBat Auto JSA, Banska Bystrica, Slovak Republic) and has executed the necessary `Transaction Documents` on 20 June 2024, with InoBat. InoBat specializes in the pioneering research, development, manufacture, and provision of premium innovative electric batteries and EV batteries solutions, custom-designed to meet the specific requirements of global mainstream and specialist OEMs within the automotive, commercial vehicle, motorsport, and aerospace sectors.The current investment is around EUR 20 million, which includes a subscription for an additional 4.5% equity stake in InoBat AS, Norway. With the above, Amara Raja Energy & Mobility`s total holding will be around 9.32% of its equity stake in InoBat AS, including its previous investment.Powered by Capital Market - Live News

Amara Raja Energy & Mobility announced that the Annual General Meeting (AGM) of the company will be held on 3 August 2024.Powered by Capital Market - Live News

Amara Raja Energy & Mobility announced that the Board of Directors of the Company at its meeting held on 28 May 2024, inter alia, have recommended the final dividend of Rs 5.1 per equity Share (i.e. 510%) , subject to the approval of the shareholders.Powered by Capital Market - Live News

Net profit of Amara Raja Energy & Mobility rose 61.34% to Rs 229.78 crore in the quarter ended March 2024 as against Rs 142.42 crore during the previous quarter ended March 2023. Sales rose 19.51% to Rs 2907.86 crore in the quarter ended March 2024 as against Rs 2433.24 crore during the previous quarter ended March 2023.For the full year,net profit rose 27.85% to Rs 934.38 crore in the year ended March 2024 as against Rs 730.83 crore during the previous year ended March 2023. Sales rose 12.67% to Rs 11708.44 crore in the year ended March 2024 as against Rs 10392.00 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales2907.862433.24 20 11708.4410392.00 13 OPM %14.1114.52 -14.1713.78 - PBDT432.75369.94 17 1734.551494.70 16 PBT309.39246.15 26 1250.221044.30 20 NP229.78142.42 61 934.38730.83 28 Powered by Capital Market - Live News