Amara Raja Batteries

Amara Raja Batteries To Invest Rs 220 Cr. For Setting Up A 50 MW Solar Plant

Amara Raja Batteries Ltd (ARBL) is setting up a 50 megawatt solar power plant in Chittoor district of Andhra Pradesh at a total outlay of Rs 220 crore to support its sustainability initiatives.

They are one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.

Amara Raja Batteries

This investment will further reduce cost of power and simultaneously bring down the company’s carbon footprint, it said in a statement. Besides, as part of the overall lead procurement strategy, ARBL will set up a greenfield lead recycling unit with a capacity of one lakh tonnes.

“This will help the company comply with recycling standards while adopting advance technology in the most environmentally friendly manner. The total capital outlay for this project is expected to be ₹280 crore over the next 18 months,” the company said in a statement.

The planned investments in solar and lead recycling plants will further strengthen the companies resolve towards a cleaner environment through a sustainable circular economy.

Amara Raja Batteries posted 20% rise in profit before tax to ₹259.90 crore for the quarter ended on 31 December, compared to ₹217.36 crore in the corresponding quarter last year.

The revenue from the operations rose to ₹1960.12 crore in the December quarter from ₹1747.81 crore a year ago.

Reference- Amara Raja website & PR, mint, ANI News Agency