• Total Income: Crossed INR10,000 crore milestone.

• Revenue from Operations: INR9,973 crore, a growth of 48% year-on-year.

• Operating EBITDA: INR796 crore, a growth of 53% year-on-year.

• Profit After Tax (PAT): INR251 crore, an increase of 80% year-on-year.

• Return on Capital Employed (ROCE): 19.5%, an improvement of 690 basis points over last year.

• Net Working Capital Days: 9 days, improved by 31% from 13 days.

• Consumer Durable Division Revenue: INR7,329 crore, a growth of 46% year-on-year.

• Consumer Durable Division EBITDA: INR562 crore, a growth of 59% year-on-year.

• Electronics Division Revenue: INR2,194 crore, a growth of 77% year-on-year.

• Electronics Division EBITDA: INR151 crore, a growth of 119% year-on-year.

• Railway Subsystem Revenue: INR450 crore, a decline of 6% year-on-year.

• Railway Subsystem EBITDA Margin: 18.6%.

• Net Debt: INR780 crore, compared to INR615 crore in the previous year.

• Quarter 4 Revenue: INR3,754 crore, a growth of 34% year-on-year.

• Quarter 4 Operating EBITDA: INR314 crore, a growth of 34% year-on-year.

• Quarter 4 PAT: INR118 crore, a growth of 20% year-on-year.

• Warning! GuruFocus has detected 3 Warning Signs with NSE:AMBER.

Release Date: May 19, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Amber Enterprises India Ltd (NSE:AMBER) reported a significant revenue growth of 48% year-on-year, reaching INR9,973 crore for FY25.

• The company achieved a record operating EBITDA of INR796 crore, marking a 53% increase year-on-year.

• The Electronics division experienced a stellar growth of 77%, surpassing guidance with revenue of INR2,194 crore.

• Amber Enterprises India Ltd (NSE:AMBER) achieved a return on capital employed (ROCE) of 19.5%, an improvement of 690 basis points over the previous year.

• The company is optimistic about outpacing industry growth by 10% to 12% in the RAC, CAE component, and non-RAC component verticals.

Negative Points

• The Railway Subsystem division reported a revenue decline of 6% due to slower offtake of products.

• Net debt increased to INR780 crore from INR615 crore, indicating a rise in financial leverage.

• The company faced JV losses amounting to INR10.4 crore, impacting the overall profitability.

• The working capital days, although improved, may not be maintainable on a quarterly basis due to seasonal fluctuations.

• The Consumer Durable division's growth may be challenged by weaker summer demand and inventory issues in the RAC business.

Q & A Highlights

Q: What kind of growth are you envisaging for the EMS sector for FY26, and any color on margin expansion? A: Jasbir Singh, Executive Chairman and CEO, stated that they are confident the EMS division will achieve above 10% margins within the next two years due to new applications in industrials and automobile sectors, which are more margin-accretive. They are optimistic about a 30% to 40% top-line growth for this division.