Amara Raja Batteries Ltd has charted out plans to enter new verticals and geographies taking Amaron brand global through strategic alliances.
As it executes a Rs 700-crore expansion project, the company plans to address the storage battery requirements of original equipment manufacturers (OEMs) graduating from serving the replacement market.
Addressing shareholders at the annual general meeting recently, Jaydev Galla, Vice-Chairman and Managing Director, said the company has identified home UPS, solar and battery requirements in other applications as potential new opportunities to sustain the growth.
“The company is looking to establish its footprint in other markets in the Indian Ocean Rim through strategic alliances,” he said.
Indicating the company quest to take up a leadership position in the storage battery sector, Galla said the company has initiated a major expansion with a total outlay of Rs 700 crore. This is to augment capacity at Tirupati and create the greenfield facility at Chittoor.
With capacity build-up, the company plans to take the Amaron brand experience global.
“The predicted grim national power situation over the medium term will significantly accelerate the demand for our products. In addition, it will further endorse the effectiveness of our capacity-lead strategy,” he said.
rishikumar.vundi@thehindu.co.in