Amber Enterprises India Limited reported its unaudited financial results for the quarter and half year ended September 30, 2024. Amber share price sees a rise of over 8%.
For the quarter ended September 30, 2024, Amber Enterprises’ revenue stood at ₹1,685 crore, a significant increase compared to ₹927 crore in the corresponding quarter of the previous year. This represents a growth of 82% year-on-year (YoY), driven by robust consumer demand, largely due to prolonged summer conditions and lower channel inventories during the period. For the half-year ended September 30, 2024 (H1 FY25), the company reported revenue of ₹4,086 crore, up 55% from ₹2,629 crore in the same period last year.
The company stated that its performance was bolstered by its comprehensive strategy across both Room Air Conditioners (RAC) and component segments, as well as substantial growth in its Electronic Division. Amber Enterprises reported operating EBITDA growth of 85% YoY in Q2 FY25, with EBITDA reaching ₹120 crore.
A key milestone during the quarter was the groundbreaking ceremony for the new manufacturing plant of Amber’s subsidiary, Ascent, at Hosur, Tamil Nadu. This new facility, when completed, will add an annual production capacity of up to 8,40,000 square meters and will be developed in two phases. This expansion reflects Amber Enterprises’ continued focus on strengthening its manufacturing footprint in India.
In addition, the company announced its entry into a joint venture agreement with Korea Circuit to venture into the advanced manufacturing of HDI (High-Density Interconnect), Flex, and Semiconductor Substrate Printed Circuit Boards (PCBs).
Amber Enterprises’ profitability also saw substantial improvement. The company’s profit after tax (PAT) grew to ₹21 crore for Q2 FY25, compared to a loss of ₹6 crore in the same quarter of the previous year. For the half-year period ended September 30, 2024, PAT rose to ₹96 crore, marking a 134% increase from ₹41 crore in H1 FY24.
On October 23, 2024, Amber share price opened at ₹5,772.20, up from its previous close of ₹5,692.45. At 10:53 AM, the share price of Amber was trading at ₹6,152.60, up by 8.08%. Notably, on October 21, 2024, the share price touched its 52-week high at ₹6,484.25.
Amber Enterprises is a diversified manufacturing leader, operating across three key business verticals: consumer durables, electronics (EMS), and railway subsystems and mobility.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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