Hyderabad: Amara Raja Batteries Ltd aims to be a $1 billion company in terms of revenues in five years, managing director Jaydev Galla said an interview. “We are growing at an annual rate of 45% at present. Buoyancy in automobile and telecom sector may take us to target levels. We have a strategic plan for next five years,” he said.

Amara Raja Batteries makes industrial and automobile batteries and also supplies speciality batteries to the Indian defence services.

The company is expecting revenue to top Rs 1,000 crore in 2007-08 (April-March).

Automobile batteries’ segment is the main growth driver, with a share of 55% in the company’s total revenues, Gall said, adding that telecommunication segment contributes over 40% of revenues.

The company currently exports industrial batteries to Singapore, United Arab Emirates, Japan, Australia, Taiwan, and some African countries, he said.

“We have a market share of 20% in automobile batteries segment. Overall, unorganised players hold 55% share,” he said.

The company also has longterm supply agreements with all major automobile companies such as Maruti Suzuki Ltd, Tata Motors Ltd, and Hyundai Motors India Ltd.

“Our market share in original equipment manufacturers segment is at 27%, and it’s growing,” he said.

Source : DNA