Intimation of Analyst/Investor Meet

Amber Enterprises India Limited

Event Type: Q4 and FY 2026 Earnings Conference Call held on Monday, 18th May 2026 at 09:30 A.M. IST

Purpose: Discussion of Audited Financial Results (Standalone and Consolidated) for the fourth quarter and financial year ended 31st March 2026 ("Q4 & FY26")

Management Participants:

  • Mr. Jasbir Singh – Executive Chairman, CEO, and Whole-Time Director
  • Mr. Daljit Singh – Managing Director
  • Mr. Sudhir Goyal – Group Chief Financial Officer
  • Mr. Sachin Gupta – Whole-Time Director
  • Mr. Sanjay Arora – Whole Time Director, ILJIN Electronics
  • Mr. Ravi Kharbanda – Head of Investor Relations
  • Mr. Rohit Singh - Head of Corporate Affairs
  • SGA – Investor Relations Advisors

Presentation Availability: The presentation was uploaded on the exchanges and the transcript is available on the Company's website at: https://www.ir.ambergroupindia.com/news-events/investor-events/

Financial Period Discussed: Q4 and FY ended 31st March 2026

Key Financial Highlights:

Full Year FY26 Performance:

  • Consolidated revenue: INR12,186 crores (22% YoY growth from INR9,973 crores)
  • Operating EBITDA: INR970 crores (22% YoY growth from INR796 crores)
  • Adjusted PAT: INR338 crores (22% YoY growth from INR277 crores)
  • Exceptional one-off impairment of investment in Shivalik and share of loss: INR112 crores

Q4 FY26 Performance:

  • Consolidated revenue: INR4,148 crores (10% YoY growth)
  • Operating EBITDA: INR362 crores (15% YoY growth)
  • Adjusted PAT: INR162 crores (27% YoY growth from INR128 crores)

Divisional Performance FY26:

Consumer Durable Division:

  • Revenue: INR8,383 crores (14% YoY growth from INR7,329 crores)
  • Operating EBITDA: INR593 crores (6% YoY growth from INR562 crores)
  • Outperformed flat RAC industry growth
  • 47% of revenue comes from RAC CBU (Complete Built-up Unit)
  • Non-RAC business forms 32% of consolidated revenues
  • Augmented RAC production capacity at Sri City in South India

Electronics Division:

  • Revenue: INR3,268 crores (49% YoY growth from INR2,194 crores)
  • Operating EBITDA: INR287 crores (89% YoY growth from INR151 crores)
  • Breakdown: PCBA - INR2,281 crores, PCB - ~INR600 crores, Power Electronics & Industrial Automation - remainder
  • Margins: PCBA ~5%, PCB ~12-13%, Power-One ~15%
  • Acquired Power-One Microsystems (August), Unitronics (October), and Shogini (December)
  • Total investment approvals under ECMS: INR4,500+ crores

Railway Systems and Defense Division:

  • Revenue: INR535 crores (19% YoY growth from INR450 crores)
  • Operating EBITDA: INR90 crores (8% YoY growth)
  • Strong order book visibility: INR2,600+ crores
  • Sidwal's Greenfield facility in Faridabad ready with trial production underway

Forward-Looking Guidance:

  • Electronics Division: Expected 40% growth in FY27 with margins of 9.5-10%
  • Railway Division: Expected 30-35% revenue growth for both FY27 and FY28 with margins of 16-17%
  • Consumer Durables: Expected to grow in tandem with industry (12-13% expected industry growth)
  • Consolidated: Margin pressure of 50-100 bps expected due to commodity prices, currency depreciation, and minimum wage revisions

Capex Plans:

  • FY26 capex: INR1,070 crores (INR550 crores capitalized, balance under CWIP)
  • FY27 capex: INR1,800-2,000 crores overall, with cash outflow of INR1,100-1,200 crores
  • Ascent project: INR1,200 crores
  • Other entities: INR700-800 crores
  • Ascent-K Circuits HDI PCB manufacturing facility construction to commence June 2026, trial production Q3 FY28

Net Debt Position:

  • FY26 net debt: INR511 crores
  • Expected FY27 net debt: INR700-800 crores

Additional Business Updates:

  • Increased stake in Unitronics, Israel to 50.4% (majority ownership)
  • Collaboration agreement with Sumitronics for automobile PCBA businesses
  • Yujin JV: INR178 crore order book for Couplers, expecting first orders on Pantographs and Brakes
  • PLI scheme: Expecting INR78 crores for FY26
  • Minimum wage increases: 35% in Haryana, 22% in UP
  • Commodity cost increases: Copper clad laminate +60%, Gold +60% in last year

Compliance Statement: The transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on 18th May 2026 will prevail.

Additional Notes Section

The document includes the complete transcript of the earnings call with detailed Q&A session covering:

  • Industry growth expectations for RAC (20% Q1 growth, 12-13% full year)
  • Price increases (14% vs last year)
  • Import restrictions on RAC compressors discussion
  • Inventory buildup strategy
  • Business model progression toward higher-margin businesses
  • Capex timing and funding details
  • Margin pressure factors and pass-through mechanisms
  • Project delays and timelines
  • Non-controlling interest accounting