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Amara Raja Energy & Mobility has approved the incorporation of a wholly owned subsidiary in India dedicated to automotive and battery-related services. The company’s board authorised the decision on Monday with an initial capital commitment of up to INR 100 crore, which will be deployed in phases.
The new entity will be incorporated in Telangana within the next two months and will operate as a technology-led services and solutions business.
Amaron Assist to Offer Vehicle Care Services
Under the ‘Amaron Assist’ brand, the subsidiary will provide a range of services, including automotive maintenance, battery servicing, vehicle care and mobility assistance. The initiative will build on Amara Raja’s existing retail and distribution network to expand its presence in the automotive services segment.
Amara Raja Energy & Mobility will hold 100% equity ownership and control of the subsidiary following its incorporation, making it a wholly owned entity of the company.
Q2 Net Profit Declines 45%
The announcement comes as the battery manufacturer reported a 45% decline in consolidated net profit to INR 152 crore in the second quarter (Q2), despite recording 18% growth in revenue.
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