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Amber Enterprises India Limited — Earnings Release 2024
May 17, 2024
61162_rns_2024-05-18_e4c39fdd-c2c0-43b4-a836-2a765fc7e61e.pdf
Earnings Release
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Date: 18 May 2024
To Secretary Listing Department
BSE Limited
Department of Corporate Services Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001 Scrip Code : 540902 ISIN : INE371P01015
To Secretary Listing Department
National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex, Mumbai – 400 050 Scrip Code : AMBER ISIN : INE371P01015
Dear Sir/Ma’am,
Subject: Press Release dated 18 May 2024 on the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and financial year ended 31 March 2024
Pursuant to the relevant provisions of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 as amended, please find enclosed press release dated 18 May 2024 on the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and financial year ended 31 March 2024.
This information will also be hosted on the Company’s website, at https://www.ambergroupindia.com/investor-events-presentation-head/
Kindly take the same into your records and oblige.
Thanking You, Yours faithfully For Amber Enterprises India Limited Digitally signed by Konica Yaadav Konica DN: cn=Konica Yaadav, o=Amber Enterprises India Limited, ou, email=cs_corp@ambergr Yaadav oupindia.com, c=IN Date: 2024.05.18 (Konica Yadav) 01:49:46 +05'30' Company Secretary and Compliance officer Membership No. : A30322
Amber Enterprises India Limited
Corp. Address: Regd. Office: Universal Trade Tower, 1st Floor, Sector 49, Gurgaon-1 22018 C-I, Phase II, Focal Point, RajpuraTown-140401, Punjab Tel.: +91 124 3923000 I Fax: +91 124 3923016,17 Tel.: +91 1762 232126, 232646 I Fax: +91 1762 232127
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Amber Enterprises India Ltd
Investor Release: 18[th] May 2024, New Delhi
Amber Enterprises India Ltd. (AEIL) has declared its audited Financial Results for the quarter and year ended 31[st] March 2024
Consolidated Financial Highlights (in Rs. Cr.)
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----- Start of picture text ----- REVENUE EBITDA [#] OPERATING EBITDA [*] PAT6.8% 8.1% 6.9% 7.7%6,927 6,729547 475 519 164 139471FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY247.4% 8.6% 6.8% 8.3%3,003 2,805240222 234204 108 99Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24----- End of picture text -----
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Consumer Durables: Entered into 50% JV with Resojet Pvt Ltd. (part of Radiant group company) for manufacturing of fully automatic top & front load washing machines. This is in line with our strategy to expand its consumer durables division
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Railway Subsystem & Mobility: AT Railway Sub Systems (WOS of Sidwal) has signed a JV with South Korea’s Yujin Machinery to carry on the business of manufacturing of all types of driving gear, couplers, and pantograph for various rolling stocks. Amber Group will further enhance its wallet share in each coach
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Increase in finance cost owing to increase in interest rates and higher depreciation on account of capex done in last year and this year has led to decline in PAT
includes other income
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- Before impact of ESOP expense and other non-operating income and expenses
Amber Enterprises India Ltd
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Commenting on the results and performance for Q4 & FY24, Mr. Jasbir Singh, Executive Chairman & CEO and Whole time Director of Amber Enterprises India Ltd. said:
“For FY24, our revenues reached Rs. 6,729 crores, while our operating EBITDA increased to Rs. 519 crores, marking a 9.3% year-on-year growth and resulting in an 80 basis points improvement in operating margins compared to the previous year. This improvement in operating EBITDA is due to a better product mix. However, our PAT for the year was affected by higher finance costs and depreciation.
Our recent acquisition of a 50% stake in Resojet Pvt. Ltd. for the manufacturing of fully automatic top and front load washing machines represents a significant step forward in expanding our Consumer Durables portfolio. This joint venture will help us strengthen our Consumer Durables Division, broaden our footprint beyond RAC, enhance our capabilities, and offer more comprehensive solutions to meet evolving customer needs, deliver high-quality products, and develop the local manufacturing ecosystem in India.
The acquisition of a 60% stake in Ascent Circuits has strengthened our EMS portfolio by integrating our current product lineup and expanding our customer base, leveraging Ascent’s technical expertise. This also increases local value addition and provides backward integration into the passive components of PCB assemblies for diverse applications.
Furthermore, AT Railway Sub Systems, a wholly-owned subsidiary of Sidwal, has entered into a joint venture with Yujin Machinery of South Korea. This collaboration will expand our product offerings and allow us to acquire Yujin’s technical expertise in manufacturing driving gears, couplers, and pantographs for various rolling stocks.
With all these initiatives across our divisions, we have laid a strong foundation for robust growth over the next decade. Each division is well-positioned to capture multibillion-dollar opportunities in the coming years.”
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Amber Enterprises India Ltd
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About Amber Enterprises India Limited
The Amber Group, a diversified manufacturing major operates across three business verticals spanning consumer durables, Electronics (EMS) and Railway subsystems and mobility. While the consumer durables vertical comprises RAC (room AC) finished goods, room AC components including motors and non-room AC components, the EMS business (ILJIN Electronics & EVER Electronics & Ascent Circuits) delivers solutions in telecom, automotive, smart energy meters, consumer electronics and appliances, hearables, and wearables & bare board PCB’s. Another important vertical for the group pertains to Railway sub systems & mobility. Amber provides integrated solutions to rolling stock customers for HVAC, Doors, Gangways, and Pantry Systems catering to the mobility sector, namely Indian Railways, Metro, RRTS and buses.
Safe Harbor Statement
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
For further information, please contact
Company : Investor Relations Advisors : CIN: L28910PB1990PLC010265 CIN: U74140MH2010PTC204285 Mr. Sudhir Goyal Mr. Rahul Agarwal / Mr. Karan Thakker [email protected] [email protected]/[email protected] +91 98214 38864 / +91 81699 62562 www.ambergroupindia.com www.sgapl.net
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