Consumer Electronics company Amber Enterprises India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue: Rs 2,805 crore down from Rs 3,003 crore in Q4FY23 PAT: Rs 99 crore down from Rs 108 crore in Q4FY23 EBITDA: Rs 240 crore up from Rs 222 crore in Q4FY23 FY24 Financial Highlights: Revenue: Rs 6,729 crore down from Rs 6,927 crore in FY23 PAT: Rs 139 crore down from Rs 164 crore in FY23 EBITDA: Rs 547 crore up from Rs 471 crore in FY23 Commenting on the results and performance for Q4 & FY24, Jasbir Singh, Executive Chairman & CEO and Whole time Director of Amber Enterprises India said: “For FY24, our revenues reached Rs 6,729 crore, while our operating EBITDA increased to Rs 519 crore, marking a 9.3% YoY 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.” Result PDF
Conference Call with Amber Enterprises India Ltd. Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.