New Delhi, May 29 -- Amara Raja Energy and Mobility's consolidated March quarter (Q4FY26) revenue grew 15% year-on-year to Rs.3,536 crore, with 92% contribution from its cash cow: lead-acid battery (LAB) business.

The balance 8% came from the new energy business, which focuses on lithium-ion cell and electric vehicle (EV) battery-pack manufacturing.

LAB revenue grew 12%, aided by an uptick in the automobile OEM sector and healthy replacement and industrials (excluding telecom) demand. Amara Raja expects high single-digit revenue growth for the LAB business in FY27, although cost pressures are beginning to build.

Consumers are gradually shifting to lithium-ion technology, moderating the long-term growth outlook for the LAB industry. Aga...