Amara Raja Energy

Amara Raja Advanced Cell Technologies, a subsidiary of Amara Raja Energy & Mobility, commissioned its Customer Qualification Plant at the Giga Corridor in Telangana on July 15, marking a step toward commercial lithium-ion cell production. The 60 MWh facility, built with an investment of around ₹500 crore, will produce cells in cylindrical and prismatic formats for customer validation, with supply to OEMs expected from August 2026. The CQP bridges the gap between laboratory research and the company’s first 2 GWh plant, which is scheduled to begin production next year as part of a ₹9,500 crore gigafactory programme. Telangana Chief Minister A. Revanth Reddy inaugurated the facility, underscoring the state's push for advanced battery manufacturing.

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July 15 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• AMARA RAJA ENERGY & MOBILITY LTD- COMMISSIONS CUSTOMER QUALIFICATION PLANT AT GIGA CORRIDOR IN TELANGANA

• AMARA RAJA ENERGY & MOBILITY - INVESTS 5 BLN RUPEES IN FACILITY AS PART OF 95 BLN RUPEES GIGAFACTORY PROGRAMME

Further company coverage: AMAR.NS

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By Aditi Shah

NEW DELHI, June 24 (Reuters) - Chinese automakers may be shut out of India, but their electric-vehicle technology is starting to make inroads in the world's third-largest car market.

New Delhi has largely blocked Chinese companies from entering the market since 2020 and now Beijing is clamping down on the export of its tech know-how. Yet ties between the two countries' carmaking industry are only growing.

Tata Motors said earlier in June it will use Chery's carmaking platform to manufacture premium EVs in India. The deal doesn't involve an equity stake, and both companies stressed it is a supply arrangement without any transfer of technology know-how to Tata, highlighting the political sensitivities.

India ramped up scrutiny of Chinese businesses after a 2020 border clash between the two countries killed soldiers on both sides. While New Delhi and Beijing are working to improve ties, some friction remains.

"If India wants to expand its manufacturing sector and be a bigger part of the global supply chain, partnership with China is inevitable. If Chinese companies want to be global leaders, they cannot wish away India and its economic potential," said Santosh Pai, partner at law firm Dentons Link Legal.

For Tata, India's third-largest automaker, Chery's platform offers a quicker way to launch EVs. Tata plans to eventually shift from relying on imported kits from China to developing components locally - a move seen favourably by some Indian policymakers because it would boost Indian manufacturing.

"We are supportive of deals that lead to more local manufacturing or supply-chain shifts down the road. That is a good way to approach China," said a senior Indian government official.

For Chinese carmakers grappling with a slowdown at home and excess manufacturing capacity, such deals could be the answer to boosting revenue without violating Beijing's export control orders.

Tata TAMO.NS and Chery 9973.HK did not respond to requests for comment.

GROWING MARKET

The Tata-Chery deal shows that, despite its best efforts, India can't keep China's EV industry completely out.

The world's most advanced EV industry is likely to continue to make inroads into India, a huge and still growing market.

That's bad news for Japanese automakers and others who are investing big in India – in part because they don't face major competition from Chinese rivals there now.

Chinese EV makers understand the importance of gaining a foothold in India through such supply deals, said Gao Hua, a former director at China SAE and now an independent analyst.

"If Chinese firms don't participate, others from different countries will step in," Gao said.

Chinese partnerships are increasingly appearing in sectors long dominated by Japanese, Korean and European firms, and they are challenging the incumbents with technologies that many analysts say are cheaper and faster to deploy.

For instance, Indian component maker Uno Minda UNOI.NS has a joint venture with China's Inovance 301656.SZ to manufacture EV powertrains in India - a sector where Bosch BOSH.NS, Nidec 6594.T and Aptiv APTV.BN are already present.

BATTERY CO-OPERATION HALTED

Technology licensing deals between India and China started to gain traction in the aftermath of the 2020 investment restrictions.

But it wasn't all smooth sailing. In 2025, Beijing's export control curbs in retaliation to Trump's tariffs, forced Indian battery maker Amara Raja AMAR.NS to end its licensing deal with China's Gotion 002074.SZ for lithium-ion cell technology for EV batteries.

"All technical collaboration has stopped," Amara Raja's executive director Vikramadithya Gourineni told Reuters.

"The main things we were able to take away was understanding on factory and line layouts, technology roadmaps ... and connecting to the vendor base," Gourineni said.

Because the licensing deal was no longer possible, Amara Raja is instead ramping up investment in in-house R&D and talent, he said.

The company is now importing equipment, battery cells and other material from Chinese suppliers to meet its cell manufacturing ambitions, but it struggles to get enough visas for engineers to come from China for operational support.

CHERY'S OTHER INDIAN PARTNER

Last year, steel-to-cement billionaire Sajjan Jindal's maiden carmaking venture, JSW Motor, agreed to a partnership with Chery similar to Tata's.

Under the deal, JSW has secured rights to use and adapt multiple Chery platforms to build a range of hybrids and EVs for India, sources familiar with the plans told Reuters. This involves an upfront payment of about 20 billion rupees ($209 million) plus royalties, one of the people added.

JSW, which is investing $3 billion in the venture, is targeting sales of 300,000 vehicles by 2030, the sources said.

The initial vehicles will largely come as imported kits from Chery with JSW gradually building out an Indian supply chain and scaling up car production at its factory in western India, they added.

JSW Motor and Chery did not respond to requests for comment.

"This highlights the importance of nuanced approaches. Cutting ties is not always the best option," Gao said.

(Reporting by Aditi Shah in New Delhi and Zoey Zhang in Shanghai, additional reporting by Shivangi Acharya in New Delhi; editing by David Dolan and Stephen Coates)

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** Shares of India's Amara Raja Energy and Mobility AMAR.NS down 1.32% at 877 rupees

** Battery maker reported 93.2% y/y growth in Q4 profit, revenue rose 16.3% y/y

** JPMorgan ("neutral", PT raised to 925 rupees from 855 rupees) says rising raw material costs, challenges in technology transfer for lithium iron phosphate battery cells could weigh on execution, even as battery energy storage systems business gains traction

** Nomura ("neutral", PT: 942 rupees) says investors remain optimistic on the company's lithium-ion push, but risks around technology shifts, low returns in battery storage systems and margin pressure in the core lead-acid business remain elevated

** YTD, AMAR stock down 3.18%

(Reporting by Surbhi Misra in Bengaluru)

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** Battery maker Amara Raja Energy & Mobility AMAR.NS shares rise 2.5% to 905.35 rupees, building on gains from the previous session

** On Monday, co reported a 16.3% jump in fourth-quarter revenue from operations; profit after tax jumped 93.2%

** Declares dividend of 5.2 rupees/share

** "Geopolitical developments in key Middle East markets created certain challenges," Harshavardhana Gourineni, the company's executive director – automotive and industrial, said in a statement

** The lithium-ion battery market in India is expected to reach 908.01 billion rupees by 2030, expanding at a CAGR of ~22.72% during the 2025–2030 period, according to Netscribes

** AMAR trades at a forward 12-months PE of 17.74 vs industry median of 32.37

** Six of 13 brokerages rate the stock "Buy" or higher, 4 "Hold," and 3 "Sell" or lower; their median PT is 971 rupees - data compiled by LSEG

** YTD, stock down 0.4% vs 3.8% fall in Nifty 500 Index .NIFTY500

(Reporting by Abhinav Parmar in Bengaluru)

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BENGALURU, May 25 (Reuters) - Diary of India economic, corporate events on May 25

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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** Shares of India's Amara raja AMAR.NS up 5.71% to 815.7 rupees

** Battery maker is targeting 2027 for its first bulk production of lithium-ion cells, executive director Vikram Gourineni told The Economic Times in an interview

** Co to begin EV cell production at a megawatt-hour scale in 2026; aims 2 GWh bulk output from first gigafactory in 2027 and would predominantly serve electric two-wheeler segment, ET reports

** Trading vols at 3 million shares, about 6x the 30 day avg of 503,794 shares

** AMAR rated "hold" on avg by 12 analysts, median PT 950 rupees - data compiled by LSEG

** YTD stock down ~15%

(Reporting by Devika Nair in Bengaluru)

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April 21 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• AMARA RAJA ENERGY & MOBILITY- CROSSES 1 GWH LITHIUM STORAGE DEPLOYMENT IN INDIA’S TELECOM NETWORKS

Further company coverage: AMAR.NS

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Jan 19 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• AMARA RAJA ENERGY & MOBILITY LTD - GETS ORDER SEEKING TAX, PENALTY OF 110.3 MILLION RUPEES EACH

Source text: ID:nBSE6bN9cQ

Further company coverage: AMAR.NS

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Dec 31 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• GETS TAX PENALTY FOR 44 MILLION RUPEES

Source text: ID:nBSEb15WyL

Further company coverage: AMAR.NS

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Nov 6 (Reuters) - India's Amara Raja Energy and Mobility AMAR.NS reported a bigger-than-expected rise in second-quarter profit on Thursday, driven by increased demand from automotive manufacturers following India's tax reforms.

The company, which makes Amaron-branded car batteries, reported profit rose 25.6% to 3.02 billion rupees ($34.36 million) in the quarter ended September.

Analysts, on average, expected 2.12 billion rupees, according to data compiled by LSEG.

India announced tax cuts on hundreds of consumer items in September, ranging from soaps to small cars to spur domestic demand. As a result, Indian dealers' passenger vehicles and two-wheeler sales to customers recorded upbeat growth towards the end of the quarter.

Analysts noted that battery demand from original equipment manufacturers (OEMs) had risen following recent reductions in consumption tax.

Amara Raja, which counts top automakers, including Bajaj Auto BAJA.NS, Hero MotoCorp HROM.NS, Maruti Suzuki MRTI.NS as its clients, derives around 70% of its revenue from the automotive battery business.

The Hyderabad-based company's revenue from operations climbed 8% to 33.88 billion rupees.

The company, which also makes industrial batteries for sectors such as telecommunications and railways, said cost of materials consumed grew 11.8% in the quarter, pushing total expenses up by 10.5% to 31.29 billion rupees.

Analysts also noted that the company was affected by higher power costs.

Rival Exide Industries EXID.NS is yet to report its quarterly results.

($1 = 87.8950 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Janane Venkatraman)

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Aug 8 (Reuters) - Amara Raja Energy and Mobility AMAR.NS, which makes the Amaron-branded car batteries, reported a bigger-than-expected drop in first-quarter profit on Thursday as weak demand from automakers and higher expenses hurt margins.

The Indian company reported a profit of 1.94 billion rupees ($22.2 million) in the April-June period, down 21% from 2.45 billion rupees a year ago.

Quarterly revenue rose 7% to 33.5 billion rupees, led by demand from customers replacing their batteries. However, expenses rose at a faster 10% pace.

Analysts at Motilal Oswal had flagged higher power costs for the company in a pre-earnings note.

The company which also produces industrial uninterruptible power supply units has struggled with weak sales to automakers at home over the last year.

The Hyderabad-based company is expanding into India's small, but growing electric vehicle segment, with the establishment of a cell-making factory that is expected to begin operations by 2027.

It currently assembles battery packs that are used in EVs.

Last week, rival Exide EXID.NS reported a higher profit on the back of replacement demand and as it kept costs under control.

($1 = 87.5980 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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** Amara Raja Energy and Mobility AMAR.NS shares drop 3.8% to 189.5 rupees

** Battery maker's Q4 results: 27% profit drop; 10% climb in costs overshadows 6% revenue rise

** On avg, stock rated "hold" same as that of rival Exide EXID.NS - data compiled by LSEG

** YTD, AMAR down nearly 13% vs EXID's around 7% slide

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of battery makers Exide Industries EXID.NS and Amara Raja Energy AMAR.NS jump as much as ~5% before easing to ~1% gains

** Central Board of Direct Taxes includes lithium-ion batteries used in EVs, hybrids as core auto parts, which, say analysts, will bring tax advantages and boost sector's investment appeal

** "Move is beneficial for battery makers and the EV sector as it is expected to provide greater tax certainty," says Elara Capital

** EXID and AMAR are down 12.4% and 11.1% in 2025 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Amara Raja Energy & Mobility AMAR.NS falls 3.4% to 997.7 rupees

** Co on Sunday reported drop in Q3 EBITDA margin to 12.4% from year-ago 15%

** Post earnings call, Morgan Stanley says battery maker's management seeing continued margin headwinds in Q4 from currency depreciation, fuel purchase agreements

** J.P. Morgan lowers valuation of co's cell business from 278 rupees/share to 199 rupees/share on delay in co's gigafactory commissioning

** Motilal Oswal cautious about potential returns from co's lithium-ion initiative

** At least six brokerages, including J.P. Morgan and Motilal Oswal, cut PT after earnings call - LSEG

** Stock rated "hold" on avg

** AMAR down ~17% YTD

(Reporting by Manvi Pant in Bengaluru)

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** Shares of Indian battery makers rise as Finance Minister Nirmala Sitharaman says battery-related raw materials will be fully exempted from custom duties

** Shares of Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS up 3.4% and 3.6%, respectively

** Custome duty exemption proposed for cobalt powder and waste, scrap of lithium-ion battery, lead, zinc and 12 more critical minerals

** 35 additional capital goods for EV battery manufacturing will be added to list of exempted capital goods

(Reporting by Aleef Jahan in Bengaluru)

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Dec 20 (Reuters) - Slovak battery maker InoBat has raised 100 million euros ($104 million) in its latest funding round backed by its Chinese partner, battery cell maker Gotion High Tech 002074.SZ, it said on Friday.

The funding round, the largest ever for a technology company in Slovakia, also included contributions from the country's sovereign wealth fund, Lilium, Bromo Capital, IPM Group and Cielo Capital, and complemented an investment from strategic investors Amara Raja AMAR.NS and Rio Tinto RIO.L, it said.

WHY IT'S IMPORTANT

The news comes less than a month after Northvolt, the Swedish maker of battery cells for electric vehicles, filed for Chapter 11 bankruptcy protection in the U.S., raising concerns about the future of Europe's EV battery industry. The Swedish player said earlier this month that it was seeking to sell its electric industrial battery business by the year-end.

CONTEXT

Slovakia's Economy Minister Denisa Sakova had said in June that Gotion and InoBat would invest 1.2 billion euros to build an EV battery plant in Slovakia, in what would be the second biggest investment in the country's history.

Automobile production is major sector in Slovakia's economy.

Countries have lined up to win investment in the sector amid European efforts to boost its EV battery industry and reduce reliance on dominant Asian battery makers, despite slower-than-expected demand for electric vehicles.

KEY QUOTES

"Western Europe has been slow to react to the critical need for battery technology. Inobat has quietly gone about building both its own high performance cell technology and its pragmatic partnership with Gotion to produce cost effective cells," the chairman of InoBat's board, Andy Palmer, said.

WHAT'S NEXT

Over the next year, InoBat aims to ramp up production of European-designed battery cells, start an energy storage business in partnership with Gotion and launch another investment round to support scaling of its operations in Slovakia, Serbia and Spain and accelerating growth in new regions, it said.

($1 = 0.9639 euros)

(Reporting by Nick Carey, writing by Linda Pasquini; editing by Milla Nissi)

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Dec 19 (Reuters) - Hyundai Motor Co 005380.KS:

• HYUNDAI MOTOR INDIA LTD - TO OFFER MADE-IN-INDIA AGM BATTERY

• HYUNDAI MOTOR INDIA LTD - TO EQUIP PRODUCTS WITH AMARON AGM BATTERIES

Source text: ID:nBSEbfz8c3

Further company coverage: 005380.KS

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** Shares of Amara Raja Energy & Mobility Ltd AMAR.NS drop 3.9% to 1,320.50 rupees

** Battery maker's Q2 profit grew 6.6% YoY, but was lower than analysts' expectation of a 15% increase, as per data compiled by LSEG

** Motilal Oswal says earnings miss driven by higher-than-expected other expenses, which offset unchanged raw material costs

** Analysts tracking AMAR rate it "hold" on average, same as rival Exide EXID.NS - LSEG data

** AMAR trims YTD gains to 63% but outperforms EXID's ~39% rise this year

(Reporting by Nandan Mandayam in Bengaluru)

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Nov 4(Reuters) - Indian battery maker Amara Raja Energy & Mobility AMAR.NS reported a 6.3% rise in second-quarter profit on Monday, aided by continued demand from automotive manufacturers.

The company's net profit rose to 2.41 billion rupees ($28.7 million) for the quarter ended Sept. 30, from 2.26 billion rupees a year earlier.

However, this is its slowest quarterly profit growth in a year as car manufactures moderated dispatches to dealers to help reduce high inventory during the quarter.

This also resulted in rival Exide Industries EXID.NS reporting a smaller-than-expected profit earlier in the day.

India's total vehicle production increased 9% in the September quarter, but slowed down sequentially from 16.1% in the first quarter, according to Society of Indian Automobile Manufacturers (SIAM), an industry body.

Amara Raja, which derives almost three-fourths of its revenue from its automotive battery business, counts top automakers including Bajaj Auto BAJA.NS, Hero MotoCorp HROM.NS and Maruti Suzuki MRTI.NS among its clients.

While Amara Raja's revenue from operations increased 11.6% to 31.36 billion rupees during the July-September period, this is its slowest growth since the December quarter.

Analysts say that the growth was driven by the company's aftermarket division - which includes replacing original equipment batteries - and a rise in its two-wheeler battery division.

Amara Raja's shares closed 2.2% lower ahead of its results. They have risen 68.4% so far this year, while those of Exide Industries EXID.NS jumped 40%.

($1 = 84.0840 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Sonia Cheema)

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** Shares of Indian motorcycle maker Bajaj Auto BAJA.NS fall 10% to 10,401 rupees; set for their worst day since March 2020, if losses hold

** Fall after BAJA's weak festive sales growth outlook at just 3%-5% against industry expectations of at least 8%

** BAJA top pct loser on Nifty auto index .NIFTYAUTO and Nifty 50 index .NSEI, which are down 2.8% and 0.5%, respectively

** Forecast drags rivals Hero MotoCorp HROM.NS and TVS Motor TVSM.NS down 3.7% and 4.7%, respectively

** Nifty auto index set for worst day since early Aug

** Tyre-makers CEAT CEAT.NS, MRF MRF.NS and Apollo Tyres APLO.NS fall between 0.4% and 2%.

** Battery makers Exide Industries EXID.NS and Amara Raja Energy & Mobility AMAR.NS fall ~2% each

** Auto-focussed lender Shriram Finance SHMF.NS falls 1.6%

(Reporting by Dimpal Gulwani in Bengaluru)

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July 16 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• APPELLATE TRIBUNAL ALLOWED APPEAL OF CO, SETS ASIDE TAX ORDER

Source text for Eikon: ID:nBSE2TnpsP

Further company coverage: AMAR.NS

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** Shares of Amara Raja Energy & Mobility Ltd AMAR.NS rise as much as 19.5% to record 1,648.70 rupees

** Battery maker signs licensing agreement with China's Gotion 002074.SZ for Li-ion batteries used in EVs

** AMAR to get access to cell technology IP, support for establishing gigafactory; be integrated into Gotion's global supply chain network

** Stock set for best day since Jan 2008, if gains hold

** Around 4 mln shares traded, 1.3x the 30-day avg volume

** Analysts on avg rate both AMAR and rival Exide Energy Solutions EXID.NS as "hold" - LSEG data

** AMAR has risen two-fold this year vs EXID's ~89% YTD rise

(Reporting by Nandan Mandayam in Bengaluru)

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BENGALURU, June 24 (Reuters) - Indian battery maker Amara Raja Energy and Mobility AMAR.NS said on Monday it signed a licensing agreement with Gotion-InoBat-Batteries (GIB), a unit of China-based Gotion High Tech Co 002074.SZ, to produce lithium-ion batteries in India.

GIB EnergyX Slovakia, a joint venture between Gotion and Slovakia-based InoBat, will license Gotion's lithium iron phosphate technology for lithium-ion cells to a unit of Amara Raja, the Indian battery maker added.

Under the licensing agreement, the Indian company will get access to cell technology IP, support for establishing Gigafactory facilities, and be integrated into Gotion's global supply chain network.

Gotion, whose largest shareholder is the German automaker Volkswagen VOWG_p.DE , specializes in lithium-ion rechargeable batteries for new energy vehicles.

Indian automakers mostly import EV batteries from China and South Korea and, along with domestic battery suppliers, have been investing in developing lithium-ion battery production capabilities within the country.

Amara Raja’s rival Exide Energy Solutions EXID.NS partnered with SVOLT in 2022 to build its own lithium-ion battery plant, which is expected to begin operations later this year.

In April, the South Korean auto duo, Hyundai Motor Co 005380.KS and Kia Corp 000270.KS signed a memorandum of understanding with Exide Energy Solutions to supply batteries for their electric vehicles, to boost competitiveness in the Indian auto market.

Earlier this year, Reliance Industries RELI.NS, JSW Neo Energy and Amara Raja Advanced Cell Technologies were among seven companies that submitted bids to set up battery manufacturing gigafactories in India.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Tasim Zahid)

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** Shares of battery maker Amara Raja Energy & Mobility AMAR.NS rises 2.3% to 1,433 rupees

** Stock rose as much as 4.6% at open

** AMAR on Thursday said it invested a further 20 mln euros, which includes a subscription for an additional 4.5% equity stake, in European battery tech company InoBat AS

** Adds, after this investment, AMAR's total holding will be around 9.32% of its equity stake in InoBat AS

** Avg rating of 14 analysts equivalent of "hold", median PT is 1,200 rupees - LSEG data

** Stock up ~75% YTD

** Stock up 88.2% so far this quarter vs fall of 6.8% in March quarter

(Reporting by Ashish Chandra in Bengaluru)

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** Shares of Amara Raja Energy & Mobility AMAR.NS rise 10.7% to a fresh record high of 1,413.9 rupees

** Stock gained 29% in last three sessions, hitting a record high on Thursday

** Jayadev Galla, MD of Amara Raja, was a former MP from the local Telugu Desam Party (TDP), whose victory in general elections made it a key player in forming the national government; Galla did not contest in this election

** Stock up 21% so far this week, eyes best weekly gain since Aug. 17, 2012

** More than 8.1 mln shares change hands, 4.2x 30-day avg

** Analysts covering stock have "hold" rating on avg; AMAR currently trading at ~20% premium to median PT of 1,200 rupees - LSEG data

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Amara Raja Energy & Mobility AMAR.NS fall 2.7% to 1,213.8 rupees

** Battery maker's net profit rises ~62% to 2.28 bln rupees ($27.4 mln) in Q4, but misses analysts' avg estimate of 2.33 bln rupees, as per LSEG data

** Co hurt by 15% surge in total expenses

** Q4 rev from ops up 15% Y/Y but misses estimates too

** Thirteen analysts covering the stock on avg have a "hold" rating; median PT is 967 rupees - LSEG data

** Stock down 6.8% in March quarter

($1 = 83.3105 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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May 28 (Reuters) - Amara Raja Energy & Mobility Ltd AMAR.NS:

• Q4 NET PAT 2.28 BILLION RUPEES; LSEG IBES EST 2.33 BILLION RUPEES

• Q4 REVENUE FROM OPERATIONS 27.97 BILLION RUPEES; LSEG IBES EST 28.79 BILLION RUPEES

• YEAR AGO Q4 NET PAT 1.41 BILLION RUPEES, REVENUE 24.33 BILLION RUPEES

• DIVIDEND OF 5.1 RUPEES PER SHR

Source text for Eikon: ID:nBSE8ShdBc

Further company coverage: AMAR.NS

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** Shares of Exide Industries EXID.NS up as much as 5.7% to 481.65 rupees; last up 4.2%

** The battery maker reported a 36.6% Y/Y rise in its Q4 PAT to 2.84 bln rupees ($34 mln), above analysts' average estimate of 2.72 billion rupees

** Revenue from operations rose 13.2%

** Average rating of 18 analysts covering the stock is "hold"; median PT is 350 rupees - LSEG data

** EXID up 48.4% YTD, outperforming its peers Eveready Industries India ERDY.NS and Amara Raja Energy & Mobility AMAR.NS which are up 0.52% and 37%, respectively

($1 = 83.4852 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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** Shares of battery maker Eveready Industries India ERDY.NS up 2.5% at 366.05 rupees

** ERDY posts March-qtr consolidated profit of 80.5 mln rupees ($965,025.32) vs loss of 143.9 mln rupees year ago

** Stock trading above its 50-,100-, 200-day moving avgs

** Analysts, on avg, rate ERDY "strong buy"; rivals Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS have "hold" rating - LSEG

** As of YTD, ERDY up 3.7%, AMAR 35% higher, EXID has risen 45%

($1 = 83.4175 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

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