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Amber Enterprises India Ltd
NSE: AMBER BSE: 540902 INE371P01015 Consumer Discretionary Consumer 🔎 Screen
NIFTY 500 Smallcap 50 Smallcap 100 Smallcap 250 Consumer Durables
₹25,780 Cr
Market Cap
134.0
P/E
11.88
PEG
10.2%
ROCE
6.0%
ROE
0.62
D/E
6.8%
OPM
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📈 Price History
Ratio Health
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By Category
Shareholding
About

Amber Enterprises India Ltd incorporated in 1956, has a 23.6% share in the total Room Air Conditioner market and is a prominent solution provider for the Air conditioner OEM/ODM Industry in India.

✓ Strengths 1
  • Company's median sales growth is 34.4% of last 10 years
! Concerns

No concerns data yet.

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📈 Growth Pattern
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3-Statement Financial Model
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Mixed quarter – revenue and PAT grew, but core consumer durables margins compressed and working capital days tripled, offset by strong electronics growth quarter Investor Presentation One-Pager? Mar 2026
Revenue
₹4,148 Cr
+10% YoY (₹3,754 Cr)
EBITDA Margin
8.7%
+30bps YoY (8.4%)
PAT
₹162 Cr
Adjusted PAT +27% YoY (₹128 Cr); reported PAT ₹162 Cr vs ₹118 Cr
NWC Days
29 days
Up from 9 days in Mar-25, due to proactive inventory positioning
What Went Right
  • Electronics division revenue surged 119% YoY in Q4 to ₹1,015 Cr and 49% for FY26 to ₹3,268 Cr, driven by acquisitions and new customers
  • Electronics EBITDA margin expanded to 10.8% in Q4 (vs 5.9% a year ago) and 8.8% for FY26 (vs 6.9%)
  • Consolidated revenue crossed ₹12,000 Cr milestone for FY26, growing 22% to ₹12,186 Cr
  • Balance sheet strengthened with equity infusion of ~₹1,000 Cr via QIP and ₹1,750 Cr from ILJIN
  • Railway division order book visibility stood at ₹2,600+ Cr, and defense projects gaining traction
What to Watch
  • Consumer Durables EBITDA margin fell to 7.5% in Q4 from 8.4% a year ago, and full-year margin dropped to 7.1% from 7.7% – impacted by commodity price surge and currency depreciation
  • Railway Sub-systems EBITDA margin contracted sharply to 19.1% in Q4 from 24.2% a year ago, despite 22% revenue growth
  • Net working capital days tripled to 29 from 9 in Mar-25, absorbing cash; cash flow from operations plummeted to ₹240 Cr from ₹711 Cr in FY25
  • Exceptional impairment of investment in Shivalik and JV losses of ₹112 Cr in FY26 (vs ₹26 Cr) dragged reported PAT down 10% for the full year
  • Consumer Durables division (70% of total revenue) grew only 14% in FY26, below the electronics growth rate, and its FY27 guidance was not explicitly provided
Management Guidance
  • Electronics division expects revenue growth of ~40% in FY27
  • Railway Sub-systems & Defense division expects 30-35% revenue growth in FY27
Investor Lens
The thesis remains intact for the electronics and railway growth engines, but the core consumer durables business—still 70% of revenue—is showing margin stress and slower growth. The tripling of net working capital days to 29 is a red flag for cash conversion, and the heavy capex commitments (₹3,200 Cr for Ascent-K, expansions at Hosur and Pune) will test balance sheet discipline after the recent equity raise. Management needs to demonstrate margin recovery in consumer durables in H1FY27 and working capital normalization. Key metrics to watch: consumer durables EBITDA margin, electronics revenue trajectory, NWC days trend, and execution of new facilities to trial production timelines.
From investor presentation · AI-generated analysis · Not investment advice
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📊 MIXED Revenue up 10.5% YoY but OPM slips; PAT jumps 37% aided by other income
Revenue
Revenue grew 10.5% YoY and 40.9% QoQ to ₹4,148 Cr, driven by seasonal demand. However, operating profit growth lagged at 3.2% YoY.
Profitability
Net profit surged 37.3% YoY to ₹162 Cr, with EPS rising to ₹38.04 from ₹34.32. Profit growth was boosted by other income of ₹84 Cr and a lower tax rate of 23%.
Margins
Operating margin contracted 100 bps to 7% from 8% YoY and QoQ, indicating cost pressures or input inflation that offset revenue growth.
Cash Flow
Cash flow data not provided in this release.
Balance Sheet
Borrowings stood at ₹2,702 Cr with a debt-to-equity ratio of 0.77 and reserves of ₹4,337 Cr, suggesting a manageable but notable debt level.
Key Risks
1) Continued margin compression if input costs stay high. 2) High PE of 127 reflects elevated market expectations. 3) Profit growth reliant on other income, which may not be sustainable.
Outlook
Margins need to stabilize for sustainable earnings growth. Demand trends in consumer durables and cost management will be critical in coming quarters.
Generated by AI · Mar 2026 results · Not investment advice
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Revenue by Segment

Segment Q3FY26 Q4FY26 Trend
Consumer Durables Division
2,014
EBIT 144
3,032
EBIT 220
Electronics Division
845
EBIT 86
1,015
EBIT 109
Railway Sub-system & Defense Division
127
EBIT 18
153
EBIT 29
Total 2,987 4,200

Source: NSE Integrated Filing XBRL (Reg. 33 Ind AS). Values in ₹ Crore.

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Investment Risk:
Investing in securities, including equities and mutual funds, involves inherent risks, including the potential loss of principal. All investments are subject to market fluctuations, regulatory changes, and other risks that may affect their value. Past performance is not indicative of future results. This report is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

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The author and/or analyst may currently hold or have previously held positions in the securities or financial instruments discussed in this report. Any such positions, if material, are disclosed to the best of the author's knowledge and are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company, institution, or third party.

Information Sources:
The analysis and opinions expressed herein are based on publicly available information, including but not limited to company filings with the BSE/NSE, annual reports, management commentary, investor presentations, data from the Reserve Bank of India (RBI), SEBI, industry publications, and other reliable financial data sources. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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