Slides
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Amber Enterprises India Limited Driving Transformation. Strengthening the Future. . Q4FY25 and FY25 Result Presentation May 2025
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Key Highlights 2 Revenue^ Operating EBITDA* PAT# ₹ 3,754 Cr +34% YoY ₹ 314 Cr +34% YoY ₹ 118 Cr +20% YoY Q4FY25 Financial Highlights (Consolidated) * Before impact of ESOP expense and other non-operating income and expenses # PAT is after considering the share of loss of joint ventures of ₹ 30 Cr and ₹ 13 Cr for FY25 & Q4FY25 respectively Consolidated Total Income Surpasses ₹ 10,000 Cr Milestone for FY25 FY25 Financial Highlights (Consolidated) Revenue^ ₹ 9,973 Cr +48% YoY Operating EBITDA* ₹ 796 Cr +53% YoY PAT# ₹ 251 Cr +80% YoY ^ Does not include other income ROCE## 19.5% +690 bps YoY ## ROCE=Operating EBIT/[Avg(Opening + Closing) Net worth) + Avg (opening + closing) Net Debt]
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Q4 and FY25 Consolidated Performance 3 * Before impact of ESOP expense and other non-operating income and expenses ^ does not include other income FY25 Amount in ₹ Cr 6,729 9,973 FY24 FY25 REVENUE^ 48% 519 796 FY24 FY25 OPERATING EBITDA* 7.7% 8.0% 53% 139 251 FY24 FY25 PAT## 80% 2,805 3,754 Q4FY24 Q4FY25 REVENUE^ 34% Q4 FY25 234 314 Q4FY24 Q4FY25 OPERATING EBITDA* 8.3% 8.4% 34% PAT## 20% 99 118 Q4FY24 Q4FY25 # # PAT is after considering the share of loss of joint ventures of ₹ 30 Cr and ₹ 13 Cr for FY25 & Q4FY25 respectively 13 9 Mar-24 Mar-25 NET WORKING CAPITAL DAYS# #Days are calculated for the year on sales basis
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Consolidated Operating EBITDA & Revenue Build-up *after inter-company eliminations and adjustments 234 314 50 30 Consumer Durables Division* Electronics Division* Total ** Before impact of ESOP and other non-operating income & expendituresRevenue & Operating EBITDA are not comparable with published segment results Q4 FY25 4 Railway Sub-system & Defense Division* Railway Sub-system & Defense Division* 562 796 151 83 Consumer Durables Division* Electronics Division* Total FY25 Railway Sub-system & Defense Division* Railway Sub-system & Defense Division* REVENUE* (Excl. other income) OPERATING EBITDA** Amount in ₹ Cr 2,787 3,754842 125 Consumer Durables Division* Electronics Division* Total 7,329 9,9732,194 450 Consumer Durables Division* Electronics Division* Total
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CONSUMER DURABLES DIVISION
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Consumer Durable Division 6 ~70% BoM Catering Capability RAC FG & ComponentBusiness Verticals Non-RAC Components Division Overview RAC 22 Facilities CBU stands for Completely Built Unit Reduced RAC (CBU) Concentration FY25 FY18 72% 43% RAC (CBU) as a % of total revenue
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Consumer Durable Product Portfolio IDU Injection Moulding Motor Sheet Metal Copper Tube Tools CFF Washing Machine ODU FY21 7 FY22 FY23 FY24 AC & Components Non-AC Components ▪ Split AC, Window AC, Inverter AC ▪ Cassette AC and Ductable ▪ Refrigerators ▪ Washing Machine ▪ Microwave ▪ Water Purifiers ▪ Automobile ▪ Energy Meters ▪ Set Top Boxes, etc. FY25 Target Segments Products Diversification into Various Applications FG Commercial AC Window AC FY20 Heat Exchanger Components
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1,610 2,475 2,199 2,787 Q4FY22 Q4FY23 Q4FY24 Q4FY25 REVENUE (Excl. other income) Consumer Durables Division Performance 8 COMMENTS ▪ Strong RAC business growth driven by positive industry demand during the year ▪ Revenue has increased by 46% YoY in FY25 ▪ RAC & its Components grew by 49% ▪ Non-RAC components vertical grew by 31% ▪ Operating EBITDA has increased by 59% YoY in FY25 ▪ Enjoyed market share of 26-27 % in RAC manufacturing footprint for the year ▪ Converted a big MNC customer from Gas Charging to full ODM/OEM solution during the year ▪ Built stronger order book of Light Commercial AC and onboarded new customers ▪ Diversified our offerings into more margin accretive component space *Before impact of ESOP expense and other non-operating income and expenses 100 156 179 234 Q4FY22 Q4FY23 Q4FY24 Q4FY25 OPERATING EBITDA* 6.2% 6.3% 8.1% 8.4% 31% Note: Revenue & Operating EBITDA are not comparable with published segment results Q4 FY25 27% 3,302 5,380 5,009 7,329 FY22 FY23 FY24 FY25 REVENUE (Excl. other income) 202 325 353 562 FY22 FY23 FY24 FY25 OPERATING EBITDA* 6.1% 6.0% 7.0% 7.7% FY25 46% Amount in ₹ Cr 59%
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ELECTRONICS DIVISION
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Electronic Component Manufacturing Scheme • Scheme launched by MeitY with an outlay of ₹ 22,919 Cr to create robust component ecosystem • Plan to file application for PCB categories of the scheme Electronics Division 10 05 Facilities 01 Expansion at Hosur PCB-ABusiness Verticals Bare PCB Division Overview PCB-A stands for PCB Assembly Others Ever Electronics
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Electronics Division: Expansion Facility Expansion Capacity Expansion Upto 8,40,000 SqM annual capacity in two phases Investment of INR 650 crore for new facility at Hosur 11 Timeline Commercial Production start by Q4 FY26 Ascent Facility Expansion : Construction in progress for new facility at Hosur Joint Venture: Korea Circuit Products HDI, Flex and Semi-Conductor Substrates 70% IL JIN Electronics 30% Korea Circuits Mobile, IT, module and semiconductor industry etc. JV Target Customer JV strengthened the bare PCB offering as comprehensive full stack EMS player
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FY20 Electronics Division: Revenue Mix 12 PCB-A and Bare PCB Diversified Customer Segments Automobile Hearable/ Wearable Others Consumer Durable IT & Telecom Industrial Others Consumer Durable FY25 PCB-A growth coupled with Ascent and Korea Circuit expansion to further enhance customer mix *Revenue split is for Electronic Division including ILJIN Electronics, EVER Electronics & Ascent Circuits; and prior to elimination for sales within group Diversified Revenue* Diversified customer base with rich mix of segment 15% PCB-A Bare PCBRevenue Split FY25 85%
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Electronics Product Portfolio 13 Product Portfolio for PCBA’s and Bare PCBs FY20 FY21 FY22 FY23 Consumer Durables Industrial (Including Energy) Automobile Defence & Aerospace IT & Telecom Smart Watches Target Segments FY25 Product Portfolio Expansion FY24
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Electronics Division Performance 14 245 415 484 842 Q4FY22 Q4FY23 Q4FY24 Q4FY25 REVENUE (Excl. other income) 74% 13 21 33 50 Q4FY22 Q4FY23 Q4FY24 Q4FY25 OPERATING EBITDA* 5.0% 6.8% 5.9% 51% 5.5% Q4 FY25 COMMENTS ▪ Robust revenue growth: ▪ Revenue grew by 77% YoY to ₹2,194 Crs. in FY25 ▪ Surpassed revenue growth guidance of 55% for the FY25 ▪ Operating EBITDA grew by 119% YoY in FY25 ▪ Imposition of Anti-Dumping duty on PCBs (upto 6 layers) enabling inroads into customers of Consumer Electronics, IT, Auto - EV, aerospace and defense ▪ Bagged new orders in the segment of defense and renewable energy for PCB-A during the year ▪ Plan to file application under the Electronic Component Scheme for PCB categories 26 51 69 151 FY22 FY23 FY24 FY25 OPERATING EBITDA* 4.5% 5.6% 6.9% 119% 617 1,125 1,241 2,194 FY22 FY23 FY24 FY25 REVENUE (Excl. other income) 77% 4.2% FY25 *Before impact of ESOP expense and other non-operating income and expenses Note: Revenue & Operating EBITDA are not comparable with published segment results Amount in ₹ Cr Electronic Division ROCE# of ~26% for the year FY25 # ROCE=Operating EBIT/[Avg(Opening + Closing) Net worth) + Avg (opening + closing) Net Debt]
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RAILWA Y SUB-SYSTEMS & DEFENSE DIVISION
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Railway Sub-systems & Defense Division 16 01 Facility 02 Expansion of New Facilities INR 2,000+ Cr Order Book Visibility Collaborations and Product Expansion Division Overview PantographCoupler GangwaysDoors Technology Transfer (ToT) Greenfield Expansion JV with Yujin Machinery New Facility Expansion Driving Gears • Wallet share further enhanced by addition of brakes into Yujin Machinery JV product line-up • Sidwal new greenfield facility is expected to commence operations by Q3FY26 • Yujin JV: Facility to be ready by Q1FY26, product trials to begin from Q2/Q3FY26 onwards Brakes
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17 Railway Sub-systems & Defense Product Portfolio HVAC (Railway, Metro & Bus) Micro-Processor Controller Defence (HVAC) FY20 FY21 FY22 FY23 FY24 FY25 Data Centre (HVAC) Target Segments Pantograph Coupler Driving Gears Gangways Doors Pantry Diversification of Product Portfolio Railways & Metro Beyond Railways Bus HVAC Brakes
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COMMENTS ▪ Revenue declined by 6% YoY to ₹ 450 crores in FY25 due to ▪ Delay in Metro projects and Vande Bharat Express project led to offtake delays ▪ Remain optimistic of doubling the division's revenue over the next two financial years ▪ Construction progressing well for Sidwal greenfield facility and is expected to commence operations by Q3FY26 ▪ Yujin JV production facility to be ready by Q1FY26, product trials to begin from Q2/Q3FY26 onwards ▪ Bagged big HVAC order for Metro project during the year ▪ Defense projects gaining robust traction with strong export avenues Railway Sub-systems & Defense Division Performance 18 289 422 480 450 FY22 FY23 FY24 FY25 REVENUE (Excl. other income) -6% 67 99 98 83 FY22 FY23 FY24 FY25 OPERATING EBITDA* 23.3% 23.5% 20.4% 18.6% -15% FY25 82 113 123 125 Q4FY22 Q4FY23 Q4FY24 Q4FY25 REVENUE (Excl. other income) 2% 20 28 22 30 Q4FY22 Q4FY23 Q4FY24 Q4FY25 OPERATING EBITDA* 23.9% 25.0% 17.8% 24.2% Q4 FY25 *Before impact of ESOP expense and other non-operating income and expensesNote: Revenue & Operating EBITDA are not comparable with published segment results Amount in ₹ Cr 38%
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CONSOLIDATED FINANCIAL PERFORMANCE
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20 Consolidated Profit & Loss Statement Particulars (₹ in Crs.) Q4FY25 Q4FY24 YoY FY25 FY24 YoY Revenue from Operations 3,754 2,805 34% 9,973 6,729 48% Raw Material Consumption (RMC) 3,131 2,336 8,186 5,500 Gross Profit 622 470 33% 1,787 1,229 45% Gross Margins (%) 16.6% 16.7% 17.9% 18.3% Employee Expenses (excluding ESOP expenses) 90 70 316 240 Other Expenses (excluding MTM loss on forward contracts, Loss on sale of FA and FA written off) 218 165 675 471 Total Expenses (including RMC) 3,440 2,572 9,177 6,210 Operating EBITDA 314 234 34% 796 519 53% Operating EBIDTA Margins (%) 8.4% 8.3% 8.0% 7.7% Depreciation & Amortization 58 51 228 187 ESOP expenses 2 4 9 18 Other Income (Including forex gain, adjustment of forex loss, loss on sale of FA and FA written off) 2 10 50 46 EBIT 256 188 36% 609 361 69% Finance Cost 55 48 209 167 Profit before tax and share of profit/(loss) from JV 201 140 44% 400 194 106% Share of (loss) of JV (13) (2) (30) (2) PBT 189 138 37% 370 191 93% Tax 70 39 119 52 PAT# 118 99 20% 251 139 80% PAT Margins (%) 3.2% 3.5% 2.5% 2.1% #PAT is after considering the share of loss of joint ventures of ₹ 30 Cr and ₹ 13 Cr for FY25 & Q4FY25 respectively
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Consolidated Balance Sheet Particulars (₹ in Crs.) Mar-25 Mar-24 Non-Current Assets 3,780 3,237 Property, plant and equipment (including Right-of-use assets) 2,268 2,092 Investment property 16 - Capital work-in-progress 115 24 Goodwill 361 361 Other intangible assets 395 372 Intangible assets under development 83 66 Financial assets (i) Investments 119 111 (ii) Loans 33 3 (iii) Other financial assets 231 107 Non-current tax assets (net) 18 19 Deferred tax assets (net) 2 3 Other non-current assets 141 79 Current Assets 4,648 3,356 Inventories 1,655 841 Financial assets (i) Investments 117 106 (ii) Trade receivables 1,750 1,569 (iii) Cash and cash equivalents 213 132 (iv) Bank balances other than (ii) above 514 559 (v) Loans 3 2 (vi) Other financial assets 251 39 Other current assets 145 107 Assets classified as held for sale 0 0 Total Assets 8,428 6,593 21 Particulars (₹ in Crs.) Mar-25 Mar-24 Equity 2,310 2,116 Equity share capital 34 34 Other equity 2,252 2,031 Non controlling interest 25 52 Non-Current Liabilities 1,561 1,192 Financial liabilities (i) Borrowings 959 668 (ii) Lease liabilities 97 85 (iii) Other financial liabilities 303 280 Provisions 23 21 Deferred tax liabilities (net) 177 138 Other non-current liabilities (including Government grants) 3 1 Current liabilities 4,556 3,285 Financial liabilities (i) Borrowings 981 766 (ii) Trade payables 3,170 2,167 (iii) Lease liabilities 22 21 (iv) Other financial liabilities 222 161 Other current liabilities (including Government grants) 144 160 Provisions 10 9 Current tax liabilities (net) 8 1 Total Equity & Liabilities 8,428 6,593
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Consolidated Cash Flow Particulars (₹ in Crs.) FY25 FY24 Operating profit before working capital changes 755 508 Changes in working capital 27 503 Cash generated from operations 782 1,011 Direct taxes paid (net of refund) (71) (46) Net Cash from Operating Activities (A) 711 965 Net Cash used in Investing Activities (B) (953) (1,035) Net Cash from/(used in) Financing Activities (C) 323 (122) Net Change in cash and cash equivalents 81 (191) 22
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Contact Us Company : Investor Relations Advisors : CIN: L28910PB1990PLC010265 Mr. Sudhir Goyal sudhirgoyal@ambergroupindia.com www.ambergroupindia.com CIN: U74140MH2010PTC204285 Mr. Rahul Agarwal / Mr. Karan Thakker rahul.agarwal@sgapl.net / karan.thakker@sgapl.net +91 98214 38864 / +91 81699 62562 www.sgapl.net