Amber Enterprises Q2 net profit comes in at ₹21 crore, revenue grows 82%

The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) were higher by 82% YoY to ₹132 crore. The EBITDA margin for the quarter stood at 7.8%.

The company’s consumer durables division saw growth of 95% YoY and contributed ₹1,069 crore to the company’s revenue. Meanwhile, the electronics division’s revenue grew by 98% YoY and accounted for ₹492 crore while the railway subsystems & mobility division saw a decline in revenue by 6% YoY to ₹124 crore.

The company’s consumer durable division benefitted from strong growth in the refrigeration and air conditioning (RAC) industry. The growth was driven by longer summers and lower channel inventories. The electronics segment diversified into newer business applications through printed circuit board assembly (PCBA) and Bare PCB manufacturing.

Amber Enterprises’ railway subsystem and mobility division added new products during the quarter and has a strong order book. However, the division saw a decline in revenue due to project delays and the Indian Railway’s focus on non-AC coaches.

Jasbir Singh, executive chairman, chief executive officer, and whole-time director of Amber Enterprises, said, that the company onboarded a new customer for the tower AC and converted a customer from gas charging to an ODM solution. The company’s electronic division will also benefit from the joint ventures signed during the quarter.

“Additionally, inked a JV agreement with Korea Circuit, the JV will foray us into advanced manufacturing of HDI, Flex, and Semiconductor Substrates PCBs,” he said.

Shares of the company have risen by nearly 92.45% since the beginning of the year. The stock has gained over 116% in the past year.