Amber Enterprises India Ltd declares Q3FY24 results

Amber Enterprises India Ltd. (AEIL) has declared its unaudited Financial Results for the quarter and nine months ended 31st December 2023.

Consolidated Financial Highlights

- 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

- Electronics: Recent acquisition of 60% equity stake in Ascent Circuits Pvt Ltd. The acquisition will help us strengthen the EMS portfolio by increasing its local value addition and backward integration into passive components of PCB Assemblies

- Railway Subsystem & Mobility: We have forged strategic alliance with Titagarh Rail Systems to enter train components and subsystems business in India and Italy. This will help in providing comprehensive integrated solutions to rolling stock manufacturers for railway subsystems in India & overseas while addressing atleast 20% of BOM of passenger coach.

Commenting on the results and performance for Q3 & 9MFY24, Mr. Jasbir Singh, Executive Chairman & CEO and Whole time Director of Amber Enterprises India Ltd. said:

"In the 9MFY24 period, our revenues stood at Rs. 3,924 crores, while our operating EBITDA climbed to Rs. 285 crores, representing a 5% year-on-year growth, translating to 40 basis points increase in operating margins compared to the previous year.

Our recent acquisition of a 60% equity share in Ascent Circuits Pvt. Ltd. marks a significant advancement in our EMS portfolio, as it enhances local value addition and facilitates backward integration into the passive components of PCB Assemblies. With the Electronics division serving as a cornerstone of our operations for years, we anticipate substantial growth opportunities as it aligns with our strategic vision under the Amber 2.0 framework in the upcoming year.

Furthermore, our strategic collaboration with Titagarh Rail Systems positions us to deliver comprehensive integrated solutions to rolling stock manufacturers, catering to railway subsystems across both domestic and international markets. Additionally, our planned equity investments into Titagarh Firema SpA, Italy, underscore our commitment to global expansion within the mobility sector. Looking forward, this division is poised to embody the transformative potential of our Amber 3.0 strategy.

Having laid a robust foundation, we are invigorated by the diverse range of opportunities unfolding across our various divisions, spanning Consumer Durables (including RAC FG, RAC & non-RAC components), Electronics, and Railway Sub-systems & Mobility."

Shares of Amber Enterprises India Limited was last trading in BSE at Rs. 4165.20 as compared to the previous close of Rs. 4223.35. The total number of shares traded during the day was 5653 in over 1450 trades.

The stock hit an intraday high of Rs. 4272.40 and intraday low of 4038.80. The net turnover during the day was Rs. 23385903.00.

Source : Equity Bulls

Keywords

AmberEnterprisesIndia INE371P01015 Q3FY24 9MFY24 ResultUpdate