The company will continue to expand lead-acid battery business, it will also focus on new energy demand from the EV sector.
14 Jun 2021 | 7884 Views | By Autocar Pro News Desk
The Board of Amara Raja Batteries (ARBL) has announced several strategic initiatives to take advantage of fast emerging new opportunities to accelerate growth. As part of the move, the company’s Founder Chairman Dr. Ramachandra Galla has decided to step down after 36 years at the helm. Dr Galla will be ...
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The Board of Amara Raja Batteries (ARBL) has announced several strategic initiatives to take advantage of fast emerging new opportunities to accelerate growth. As part of the move, the company’s Founder Chairman Dr. Ramachandra Galla has decided to step down after 36 years at the helm. Dr Galla will be succeeded by Jayadev Galla.
ARBL has announced ‘Energy and Mobility’ as the strategic focus for the company going forward. While it will continue to expand its lead-acid batteries business, it will establish a New Energy SBU encompassing lithium cell and battery pack, EV chargers, energy storage systems, advanced home energy solutions and related products and services.
Speaking on the evolving ‘Energy & Mobility’ strategy, vice-chairman, Jayadev Galla said: “After a careful review of the global business opportunities, the ARBL Board has decided to future-proof our business by repositioning ARBL as an ‘Energy and Mobility player’. The board believes that ARBL has to invest in a portfolio of businesses to maintain its technological and business leadership. Over the years, we have built an active distribution network, customer trust and relationship with clear emphasis on maximising value within lead acid technology. The company is now well poised to build on these strengths and create multiple new growth engines in the new energy space.”
The company believes that the lead acid batteries business will continue to grow in India owing to the buoyant demand from automotive, industrial, telecom and new emerging segments like data centres. ARBL also hopes to pursue inorganic opportunities available in the market to bolster its leadership position.
New leadership to drive growth
To help drive the change, the ARBL Board has also approved a series of leadership and organisational changes. Founder Chairman Dr. Ramachandra Galla, who was at the helm of the company for 36 years and was largely responsible for its leadership position and stature in the market has expressed his decision not to seek reappointment in the board meeting. He will continue as director and chairman till the conclusion of the Annual General Meeting (AGM) in August; Jayadev Galla, vice-chairman, will assume the role of chairman of the Board after the AGM. The board has also inducted Harshavardhana Gourineni (Harsha) and Vikramadithya Gourineni (Vikram) as executive directors.
Given the strategic importance and orbit-shifting potential of the New Energy business to ARBL, the company has decided that S Vijayanand will take charge as President – New Energy.