Meeting Details

The 36th Annual General Meeting (AGM) of Amber Enterprises India Limited was held on Wednesday, 16th September 2026, through Video Conference/Other Audio Visual Means. The deemed venue was the registered office at C-1, Phase II, Focal Point, Patiala, Rajpura – 140 401, Punjab. The meeting commenced at 11:00 A.M. IST and concluded at 12:22 P.M. IST.

Attendance

Directors and Key Managerial Personnel Present:

  • Mr. Jasbir Singh: Executive Chairman and Chief Executive Officer and Whole Time Director
  • Mr. Sachin Gupta: Whole-Time Director
  • Mr. Arvind Uppal: Non-Executive - Independent Director
  • Ms. Sabina Moti Bhavnani: Non-Executive - Independent Director
  • Mr. Prakash Iyer: Non-Executive - Independent Director
  • Mr. Sudhir Goyal: Chief Financial Officer
  • Ms. Konica Yaadav: Company Secretary and Compliance officer

Notable Absence: Mr. Daljit Singh, Managing Director, was unable to attend due to unavoidable exigencies.

Other Attendees:

  • Dr. Girish Kumar Ahuja: Board's Observer
  • Key Managerial Personnel of subsidiaries
  • Representatives from statutory auditors (M/s S.R. Batliboi & Co. LLP), scrutinizer (M/s V. Jhawar & Co), secretarial auditor, and cost auditors
  • Ms. Sarita from KFIN Technologies Limited as moderator

Shareholder Participation:

The record date was 7th September 2026 with 1,24,595 shareholders. Attendance at meeting:

  • Promoter and Promoter Group: 4 shareholders representing 73,59,032 shares
  • Public: 48 shareholders representing 3,21,108 shares
  • Total: 52 shareholders representing 76,80,140 shares

Chairman's Speech Highlights

Mr. Jasbir Singh, Executive Chairman & CEO, highlighted the company's performance during FY 2025-26:

Financial Performance:

  • Consolidated revenue crossed ₹12,000 crore milestone, growing 22% YoY to ₹12,186 crore
  • Operating EBITDA grew 22% YoY to ₹970 crore
  • Two significant capital raises: ₹1,000 crore equity capital raised by Amber Enterprises through QIP, and ₹1,750 crore strategic funding raised by IL JIN Electronics through CCPS and equity shares

Division-wise Performance:

1. Consumer Durables Division: Revenue ₹8,383 crore (up 14% YoY), Operating EBITDA ₹593 crore (up 6% YoY)

  • Benefited from GST reduction on Room ACs from 28% to 18%
  • Transition to revised BEE rating norms effective January 2026
  • Capacity augmentation at Sri City, Andhra Pradesh

2. Electronics Division: Revenue ₹3,268 crore (up 49% YoY), Operating EBITDA ₹287 crore (up 89% YoY)

  • Strategic investments in Power-One, Unitronics and Shogini Technoarts
  • ECMS approvals: Ascent Circuits (multi-layer PCB, ₹991 crore), Shogini Technoarts (multi-layer PCB, ₹500 crore), Ascent-K Circuit (HDI PCB facility, ₹3,215 crore)
  • Groundbreaking ceremony for Ascent-K Circuit facility held in June 2026 at YEIDA, Uttar Pradesh

3. Railway Subsystems and Defence Division: Revenue ₹535 crore (up 19% YoY), Operating EBITDA ₹90 crore (up 8% YoY)

  • Progress on Sidwal's new greenfield facility
  • Joint venture with Yujin Machinery (pending RDSO approvals)

Strategic Initiatives:

  • Entry into mobile phone manufacturing through Manufacturing Collaboration Agreement with OPPO Mobiles India Private Limited (June 2026) for OPPO, OnePlus and Realme brands
  • Continued diversification through strategic investments
  • Priorities: deepening backward integration, expanding manufacturing capabilities, accelerating innovation-led growth

Audit Reports

Standalone Financial Statements: Auditor's report contained no qualifications, observations, or adverse comments.

Consolidated Financial Statements: Statutory auditors expressed a qualified opinion regarding:

  • Inclusion of unaudited financial information of one subsidiary
  • Group's share of loss pertaining to one step-down joint venture (including its associate) based on management-furnished financial information not subjected to audit
  • Unable to comment on financial impact that might have arisen had such financial information been audited

Board's Explanation: The Board's view (as per Section 134(3)(f) of Companies Act, 2013) stated that the qualification did not have any significant impact on Consolidated Financial Statements, and audited and adjusted figures disclosed in the Statement on Impact of Audit Qualifications were identical. The company has initiated measures to ensure financial statements of all subsidiaries and joint ventures are audited in future periods.

Secretarial Audit Report: No qualifications, reservations, observations, adverse remarks, or disclaimers.

Resolutions Passed

All 16 resolutions were passed with requisite majority:

Ordinary Business:

1. Adoption of financial statements (Standalone and Consolidated) for FY ended 31st March 2026 and reports of Board of Directors and Auditors

2. Appointment of Mr. Jasbir Singh (DIN: 00259632) as Executive Chairman & CEO and Whole Time Director

3. Ratification of remuneration of Cost Auditors for FY 2026-27

Special Business:

4. Re-appointment of Mr. Prakash Iyer (DIN: 00956349) as Independent Director for second term of 5 years w.e.f. 19th September 2026

5. Re-appointment of Ms. Sabina Moti Bhavnani (DIN: 06553087) as Independent Director for second term of 5 years w.e.f. 19th September 2026

6. Approval of Related Party Transaction: Payment of remuneration to Mr. Sudhir Goyal for holding office in IL JIN Electronics

7. Approval for giving Corporate Guarantees and/or providing Security under Section 186 of Companies Act, 2013

8. Approval for Acquisition of Securities/Investments under Section 186 of Companies Act, 2013

9. Authorization under Section 185 for loans/guarantees/security for IL JIN Electronics (material subsidiary)

10. Authorization under Section 185 for loans/guarantees/security for Ascent Circuits Private Limited (step-down subsidiary)

11. Authorization under Section 185 for loans/guarantees/security for Ascent-K Circuit Private Limited (step-down subsidiary)

12. Approval for Material Related Party Transactions between Company and IL JIN Electronics

13. Approval of Material Related Party Transactions between Company and Ascent Circuits Private Limited

14. Approval of Material Related Party Transactions between Company and Ascent-K Circuit Private Limited

15. Approval of material related party transactions between IL JIN Electronics and Ascent Circuits Private Limited

16. Approval of material related party transactions between IL JIN Electronics and Ascent-K Circuit Private Limited

Voting and Scrutinizer Process

  • M/s V. Jhawar & Co appointed as Scrutinizer for e-voting process
  • E-voting facility remained open for 15 minutes after meeting conclusion
  • Consolidated voting results and Scrutinizer's report to be disseminated to stock exchanges within prescribed timelines
  • Results will be available on company website (www.ambergroupindia.com) and KFin Technologies website (https://evoting.kfintech.com)

Additional Information

  • Members were provided opportunity to ask questions during the meeting
  • Unanswered queries can be directed to info@ambergroupindia.com and cs_corp@ambergroupindia.com
  • This document does not constitute minutes of the AGM proceedings