Amber Enterprises India LimitedConsumer GoodsAMBER
Q1 FY27 concall · earnings callAmber Enterprises India Limited
Amber's Q1 revenue and profit grew on the back of strong electronics performance, while margins face temporary pressure from commodity inflation and wage revisions.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Consolidated Revenue | ₹3,888 Cr | 13% | |
| Operating EBITDA | ₹337 Cr | 28% | |
| Adjusted PAT | ₹126 Cr | 19% | |
| Electronics Division Revenue | ₹985 Cr | 29% | |
| Electronics Division EBITDA Margin | 10.8% | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹2,133.33 Cr+64.8% YoY+26.6% QoQ | ₹37.05 CrTurned profitable YoY+76.8% QoQ | ₹10.61Turned positive YoY+86.1% QoQ |
| Q2 FY25 | ₹1,684.70 Cr+81.7% YoY-29.8% QoQ | ₹20.96 CrTurned profitable YoY-71.9% QoQ | ₹5.70Turned positive YoY-73.5% QoQ |
| Q1 FY25 | ₹2,401.29 Cr+41.1% YoY-14.4% QoQ | ₹74.72 Cr+60.3% YoY-24.5% QoQ | ₹21.48+58.5% YoY-23.6% QoQ |
| Q4 FY24 | ₹2,805.46 Cr-6.6% YoY+116.7% QoQ | ₹99.03 Cr-8.4% YoYTurned profitable QoQ | ₹28.10-8.9% YoYTurned positive QoQ |
| Q3 FY24 | ₹1,294.76 Cr-4% YoY+39.7% QoQ | ₹-0.52 CrTurned loss-making YoYLoss narrowed QoQ | ₹-0.14Turned negative YoYLoss/share narrowed QoQ |
TL;DR
- Consolidated revenue grew 13% YoY to INR3,888 crores, with adjusted PAT up 19% to INR126 crores.
- Electronics division revenue grew 29% to INR985 crores, with EBITDA more than doubling to INR107 crores.
- Consumer Durable revenue grew 8% YoY, and Railway & Defense revenue grew 18%.
- Overall margins face pressure from elevated commodity prices, currency depreciation, and minimum wage revisions, expected to persist through H1.
- The company is progressing on strategic initiatives: mobile phone collaboration with Oppo, and expansion of HDI PCB manufacturing.
- Management expects Railway & Defense division to deliver 30-35% revenue growth for the full year and maintains 40%+ revenue growth guidance for Electronics.
Said on the call
“On the timeline, we are on course to commence the trial production by quarter 4 of FY '27 and commercial production to begin quarter 1 of FY '28.”
From the Q&A
| Topic | What management said |
|---|---|
| Mobile Business & Exports | Management said export discussions with Oppo are too early, focusing first on domestic launch starting Q4 FY27. PLI eligibility for mobile backward integration awaits draft guidelines. |
| PCB Business Margins & Pricing | Standard PCB margins were 16% but hover around 12% due to CCL cost increases; price pass-through to customers lags by two quarters and is underway, with margins expected to normalize from Q3 onwards. |
| Q1 Consumer Durable Margins | Strong Q1 margins benefited from pre-stocking of compressors/copper due to QCO enforcement and a favorable product mix towards premium ACs; this is not indicative of the full-year outlook. |
| Railway & Defense Margins | Margin decline (26% EBITDA drop) was due to fixed-price railway contracts, a product mix involving direct pass-through supplies, and cost inflation; full-year margin guidance for the division is 15-16%. |
| ILJIN Fire Impact | Permission to reconstruct was received; the business was shifted to other locations, and the company is adequately insured. Management is hopeful of delivering earlier guided numbers. |
| Electronics Division Growth | Management reaffirmed 40%+ revenue growth guidance for FY27, driven by growth across PCBA, PCB, and Industrial & Automation segments, balancing volume and value. |
| Commodity Pass-through Mechanics | In Consumer Durables (Tier 1), cost changes are passed on with a one-quarter lag. In PCB (Tier 2), the lag is two quarters. Price decreases are also passed on to customers. |
| Net Debt | Consolidated net debt as of 30 June was INR1,225 crores, up from INR510 crores in March 2026. |
Guidance
- Consumer Durable division expected to grow in tandem with RAC industry growth (13-15%).
- Railway Sub-system & Defense division expected to deliver 30-35% revenue growth for FY27.
- Electronics division maintains 40%+ revenue growth guidance for FY27.
- Margin pressures from commodities, currency, and wages expected to persist through H1 FY27.
- Expect to start trial production for mobile phone collaboration in Q4 FY27, commercial production in Q1 FY28.
Source
Summary written from the transcript filed by Amber Enterprises India Limited for the call held on 14 Aug 2026; published 19 Aug 2026, 20:00 IST.
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