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Batteries · Mid cap

Amara Raja fires up ₹500 cr lithium-ion cell pilot plant

The Customer Qualification Plant at Telangana's Giga Corridor will supply cells to OEMs from August 2026, ahead of the 2 GWh commercial gigafactory next year.

2 earlier stories on Amara Raja Energy & Mobility Ltd.
Mkt cap₹15,279 cr
P/E17.06×
ROE12.78%
Debt / eq.0.02
Div yld1.25%
₹500 cr (~3% of market cap) Investment in the 60 MWh qualification plant

What's new

  • Amara Raja's subsidiary commissioned its lithium-ion cell qualification plant in Telangana on July 15.
  • The 60 MWh facility cost ₹500 crore and will produce cylindrical and prismatic cells for customer validation.
  • Commercial supply to OEMs is expected from August 2026.

Why this matters

This is the first tangible execution step in Amara Raja's ₹9,500 crore gigafactory programme. The CQP de-risks the upcoming 2 GWh commercial plant and demonstrates progress in diversifying beyond the core lead-acid business. For a ₹15,279 crore market-cap company, this milestone signals credibility in the new energy vertical.

What we're watching

  • Customer validation outcomes and potential offtake orders from OEMs.
  • Construction timeline of the 2 GWh plant scheduled for next year.
  • Revenue contribution from lithium-ion cells in FY28 and beyond.

The full read

Amara Raja Energy crossed a critical milestone on July 15. Its subsidiary commissioned a 60 MWh lithium-ion cell qualification plant at the Giga Corridor in Telangana. Cost: ₹500 crore, about 3% of the company's ₹15,279 crore market cap. It's a start. The plant will produce cylindrical and prismatic cells for customer validation, with OEM supply expected from August 2026, bridging lab research and the 2 GWh commercial plant that is part of a ₹9,500 crore gigafactory programme starting next year. Not just a slide in the annual report anymore.

Questions answered

What is the Customer Qualification Plant (CQP)?
The CQP is a 60 MWh facility that will produce lithium-ion cells in cylindrical and prismatic formats for customer validation, bridging lab research and commercial production.
How much did Amara Raja invest in the CQP?
The investment is around ₹500 crore, which is roughly 3% of the company's current market capitalisation of ₹15,279 crore.
When will commercial supply begin from this plant?
Supply to OEMs for validation is expected from August 2026, ahead of the 2 GWh plant that starts production next year.
What does this mean for Amara Raja's core lead-acid business?
The CQP is part of a ₹9,500 crore gigafactory programme aimed at diversifying into new energy. The lead-acid business remains the main revenue driver, but this milestone shows progress in building a complementary revenue stream.
Who inaugurated the facility?
Telangana Chief Minister A. Revanth Reddy inaugurated the plant, underscoring the state's push for advanced battery manufacturing.
Mentioned: Amara Raja Energy & Mobility · ₹500 crore · 2 GWh plant
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Company snapshot

Amara Raja Energy & Mobility Ltd.

Batteries
₹15,680 cr
P/E 17.50×

Latest quarter · Mar 2026

Sales₹3,536 cr
Net profit₹314 cr
Op. margin+10.9%
EPS₹17.18

Strength & growth

Debt / equity0.02×
Current ratio1.84×
Sales CAGR+11.2%
EPS CAGR−0.1%
Financials via Tijori — a research aid, not investment advice.ARE&M on Tijori

Story so far

All notes on ARE&M →
  1. 15 Jul 2026 · 3:41 PM IST Amara Raja fires up ₹500 cr lithium-ion cell pilot plant
  2. 50d ago Amara Raja pivots energy strategy after Gotion partnership collapses
  3. 51d ago Amara Raja posts 16% Q4 revenue growth, recommends ₹5.2 dividend