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Revenue
₹2,943 Cr
verified against source
Revenue YoY
38%
reported change
EBITDA
₹247 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Amber Enterprises delivered a strong Q3 FY26 with consolidated revenue of ₹2,943 crore (+38% YoY) and EBITDA of ₹247 crore (+53% YoY), driven by robust performance in the electronics division (+79% revenue) and consumer durables (+27% revenue). PAT before impairment grew 128% to ₹84 crore. The electronics division achieved a double-digit EBITDA margin of ~10.5% ahead of FY27 guidance, aided by acquisitions (Shoguni, Unitronics) and organic growth in PCBA and power electronics. Consumer durables benefited from wallet share expansion and non-AC components, despite a flattish room AC industry. The railway division posted 20% growth with a strong order book of ₹2,600 crore+. Management guided for 13-15% growth in consumer durables and doubling railway revenue over two years. Risks include commodity cost inflation (copper, CCL) with a pass-through lag of 1-1.5 quarters, and potential margin pressure from rising input costs.
Colored figures show movement against the previous available record.
Guidance to track
- Despite flattish industry, Amber expects its consumer durable division to grow 13-15% for the full year, driven by wallet share gains and product diversification.
- Management reiterated guidance that electronics division EBITDA margins will be in double digits for FY27, already achieved in Q3.
- Backed by a strong order book of ₹2,600 crore+, management expects to double railway subsystem and defense division revenue in two years.
- CFO guided that capital expenditure to be capitalized in FY27 will be around ₹1,100-1,200 crore, including expansions in electronics and railways.
Risks flagged
- Sharp surge in copper and CCL prices may pressure margins as pass-through to customers occurs with a 1-1.5 quarter lag.
- Currency depreciation adds to input cost pressures, especially for imported components, with limited short-term pass-through.
- A one-time impairment of ₹94 crore was taken on Shivalik investment; management stated no further losses expected, but the venture underperformed.
- Analyst raised concern about Mitsubishi Electric's ₹2,100 crore backward integration into compressors; management downplayed risk, citing component supply opportunities.
Key quotes
- We feel that the industry should be flattish this year whereas we have again and again maintained our guidance and we are hopeful to deliver about 14 to 15% kind of a growth.
- This is the first quarter ever where we have seen about 10 and a half% EBITDA for our electronics division.
- We have already guided that in consumer durable we expect to do about 15% kind of a growth despite markets being flattish.
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