Indian Battery Company Amara Raja touching the skyline, Thanks to Jayadev
Mumbai, June 3: Jayadev Galla also knows as Jay is the vice chairman and managing director of Amara Raja Batteries. It’s a company with 26% equity holding from Galla family and Johnson Controls Inc. USA. It is one of the world renowned manufactures of lead acid batteries for automotive and industrial applications.
The major clients of the company which dominates the Indian battery industry are Ford India, Honda, Hyundai, Mahindra, Tata Motors and Maruti.
Back in 2003, the company was going through a loss as the battery prices had crashed and economy was facing inflation. This lead to profits of Amara Raja Batteries to fall from $ 300,000 from $ 1.6 million as reported in Forbes.
It wasn’t late enough before Jay turned the tables resulting to which every third car in India and every second car in Singapore runs on Amaron battery.
As reported in Forbes, “Amara Raja has a wide distribution network, good earnings visibility and a strong balance sheet,” says Padmaja Ambekar, research analyst at Mumbai’s BOB (Bank of Baroda ) Capital Markets. “As recent forecasts suggest, this year’s monsoon should be above average, and that should lead to strong demand from the rural sector. This along with demand for the replacement of auto batteries will lead to healthy growth in the company’s revenues.”
Business Today Best CEO Awards 2015 awarded Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries Limited, the Best CEO Award for the auto ancillary category.
Accepting the Award Mr Galla said “I am incredibly humbled by this honor,” To be unanimously selected by this esteemed panel of judges means a lot to me, but more importantly to our organization. The success of Amara Raja Batteries limited can only be attributed to the support, hard work, and dedication of our employees team Partners. It’s on their behalf that I am accepting this award.” He further highlighted saying: “Engaged employees, Empowered teams and Collaborative leadership – if you can achieve this, Sky is the limit” as reported by News Voir.
Jay Galla, who on top of his role at Amara Raja in 2014 became a member of parliament from India’s south, is now looking to reach $2 billion in company revenues in the next five years.