Amara Raja Energy & Mobility Ltd. reported revenue of ₹4,109 cr for July to September 2026, +18.5% on the year and −2.5% on the quarter. That is faster than this quarter has grown in recent years (+11.1% on average), so the year-on-year number is not just the season. Over the last four quarters revenue comes to ₹15,134 cr, +16.8% on the four before.
The full Amara Raja Energy & Mobility Q2 FY27 results page carries every quarter on the same rules, the checks that ran and the ones that need the filing read: Amara Raja Energy & Mobility Q2 FY27 results, read forensically.
Amara Raja Energy & Mobility Q2 FY27: the numbers
| Sep '26 | Previous quarter | A year ago | On the year | |
|---|---|---|---|---|
| Revenue | ₹4,109 cr | ₹4,215 cr | ₹3,467 cr | +18.5% |
| EBITDA | ₹362 cr | ₹406 cr | ₹374 cr | −3.4% |
| EBITDA margin | 8.8% | 9.6% | 10.8% | −200 bps |
| Net profit | ₹152 cr | ₹191 cr | ₹276 cr | −44.9% |
| EPS | ₹8.33 | ₹10.43 | ₹15.11 | −44.9% |
Consolidated figures in ₹ crore, as filed with the exchanges.
What the numbers say
Operating profit (EBITDA) was ₹362 cr, a margin of 8.8%, −200 bps on the year and −83 bps on the quarter. It is the narrowest margin of the last 8 quarters (range 8.8% to 13.1%). Operating costs grew +21.2%, faster than revenue at +18.5%, so operating profit grew less than sales.
Net profit was ₹152 cr, −44.9% on the year and −20.1% on the quarter, with earnings per share of ₹8.33. Profit before other income, one-offs and tax fell 59.5%, so 15 points of the headline growth came from outside the core business. The tax rate of 27% is in line with its recent average. Profit over the last four quarters totals ₹817 cr, −13.9% on the four before.
EV businesses are read on volumes and on how far losses narrow as they scale; incentives can be a material part of revenue.
On earnings per share of ₹44.66 over the last four quarters, the stock at ₹744.80 trades at 16.7 times trailing earnings.
Where the profit change came from
Net profit went from ₹276 cr in Sep '25 to ₹152 cr in Sep '26. Taking each line in turn: Business (EBITDA) took away ₹12.7 cr, depreciation took away ₹10.6 cr, finance cost took away ₹5.7 cr, other income took away ₹5.4 cr, tax added ₹32.3 cr and other lines took away ₹122 cr.
Segments
| Segment | Revenue | YoY | Result | YoY |
|---|---|---|---|---|
| Lead acid batteries and allied products | ₹3,876 cr | +17.6% | ₹240 cr | −39.1% |
| New energy business | ₹232 cr | +36.7% | −₹41.6 cr | — |
Questions the numbers raise
None of the 16 checks that could run on this quarter raised a question. That says the numbers cleared these checks; it is not a verdict on the company.
What to watch next
For a company in Electric vehicles and EV supply chain, the numbers to watch are volumes, incentive income and cash burn.
The next quarter, Q3 FY27, has to be filed by 14 Feb 2027. The same checks will run on it, and the results page will compare it with this one.
All of Amara Raja Energy & Mobility's quarters, the checks and the profit bridge →
The Amara Raja Energy & Mobility terminal: financials, valuation history and forensic checks →
Frequently asked questions
What were Amara Raja Energy & Mobility Ltd. Q2 FY27 results?
Amara Raja Energy & Mobility Ltd. reported revenue of ₹4,109 cr (+18.5% on the year) and net profit of ₹152 cr (−44.9% on the year) for July to September 2026.
Was Amara Raja Energy & Mobility Ltd. profit growth driven by the core business?
Profit before other income, exceptional items and tax moved −59.5% on the year, against −44.9% for reported profit.
Are there any red flags in Amara Raja Energy & Mobility Ltd. Q2 FY27 results?
None of the 16 checks that could run raised a question.
Is this a recommendation?
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by published rules. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security.
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