In , Amber Enterprises India Ltd (Consumer Electronics - EMS) is outperforming Nifty 500 with +34.3% relative strength. Fundamentals: Average. On a 5-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Apr 18, 2026
What: Electronics EBITDA Growth: 157%
Impact: Double-digit margins by FY27
“driven by strong growth momentum and portfolio of high-value margin-accretive products, we expect FY '27 full year EBITDA margins to be in double-digit number.”
What: Railway Order Book: ₹2,600 Cr
Impact: Doubling revenue
“Backed by a strong order book visibility of INR2,600 crores plus ... we remain optimistic of doubling the division's revenue over next 2 financial years.”
What: ECMS Approvals: Multiple projects
Impact: 48% incentive on HDI
“expansion which we have received, we will be getting two sets of incentives, one from ECMS scheme on the HDI, which is about 48%.”
What: BEE Star Rating Upgrade: Effective Jan 1, 2026
Impact: Channel filling in Q3
“The room AC industry has transitioned to the revised higher efficiency BEE Star rating norms effective 1st January 2026 ... quarter witnessed a channel filling.”
What: Unitronics Global Sales: 55-60% from US
“Unitronics, almost 55% to 60% growth comes -- sales comes from US markets and remaining comes from the European markets.”
What: Electronics Division EBITDA growth of 157%
“The Electronics division continued its growth momentum with revenue of INR845 crores ... recorded EBITDA of INR88 crores, recorded growth of 157%.”
Earnings deceleration risks from management commentary
Trigger: Global commodity price volatility affecting key raw materials for electronics.
Impact: PAT impact: 5% impact on pricing
Management view: Quarterly lag pass-through clauses in B2B contracts.
Monitor: commodity
Trigger: Compliance with updated national labor regulations.
Impact: PAT impact: ₹9 Cr
Management view: One-off provision taken in Q3.
Monitor: regulatory
Trigger: Macroeconomic volatility affecting import costs.
Management view: Pass-through with a quarterly lag.
Monitor: fx
Key quotes from recent conference calls
“We remain optimistic that this division, Consumer Durable division, should grow in the range of 13% to 15% for the year. [Previous Consumer Durable Growth guidance]”
“We are very hopeful that we should be plus INR3,200 crores in this division, Ankur. [Previous Electronics Division Revenue guidance]”
“growth of Unitronics can be catered by India by supplying these components as a backward integration. So these are the 4 things as a synergy. [Initiative: Backward Integration for Unitronics/Power-One]”
“First phase of investment is INR1,200 crores ... after 18 months, we will start the commercial production of that. [Initiative: KCC (Korea Circuit) JV]”
Headline numbers from the latest earnings call
Revenue
₹2,943 Cr
Why: Growth was driven by the Consumer Durable division's diversified product offering and channel filling ahead of the BEE rating upgrade.
Revenue growth accelerated significantly compared to the flat performance in Q2.
EBITDA
₹247 Cr
Why: Operating EBITDA grew despite margin pressure in the bare PCB vertical due to raw material price spikes.
EBITDA growth outpaced revenue growth, indicating improved operational efficiency despite input cost headwinds.
PAT
₹84 Cr
Why: PAT growth was driven by strong operational performance, though partially offset by a one-time impairment loss in Shivalik.
The reported PAT is before the exceptional impairment of ₹94 Cr related to the Titagarh Firema venture.
Other Highlights
• Acquired 80% stake in Shogini Technoarts to boost PCB capacity by 4.5 lakh square meters.
• Secured 116 acres of land in Jewar for HDI PCB and future expansion plans.
• Electronics division EBITDA grew 157% YoY to ₹88 Cr.
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Electronics Division Revenue Growth
79%
Why: Driven by PCBA vertical, bare PCB, and new additions in power and automation electronics.
Railway & Defense Order Book
₹2,600 Cr
Why: Maintained strong visibility despite execution of existing orders.
Shogini PCB Capacity Addition
4.5 lakh sqm
Why: Acquisition of Shogini Technoarts to broaden division reach.
Consumer Durable Revenue Growth
27%
Why: Driven by diversified product offering and channel filling ahead of BEE upgrade.
Electronics EBITDA Margin
10.4%
Why: First quarter hitting double-digit margins due to mix shift.
Inorganic Revenue Contribution (9M)
12%
Why: Contribution from acquisitions like Power-One and Shogini.
Consolidated Working Capital Days
30-35 days
Why: Maintained in a stable range despite business mix changes.
Net Debt
₹1,012 Cr
Why: Increased from March '25 levels due to acquisitions and inventory buildup.
Forward-looking targets from management for FY26 Full Year
Revenue Growth Target
13%
Capex Plan
₹1100 Cr
13% to 15% growth for Consumer Durables
REAFFIRMED
₹1,100 Cr to ₹1,200 Cr
Capitalization of new facilities and expansion
Guidance Changes
Railway Division Revenue: Doubling in 2 years → Doubling in 2 years
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +38% | +33% | Stable |
| PAT (Net Profit) | -125% | +31% | Inflection Down |
| OPM | 8.1% | +105 bps | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Amber Enterprises India Ltd's latest quarterly results (Dec 2025) show
Amber Enterprises India Ltd's profit is declining with an inflecting downward trend.
Amber Enterprises India Ltd's revenue growth trend is stable.
Amber Enterprises India Ltd's operating margin is stable.
Amber Enterprises India Ltd's long-term compounding rates
Amber Enterprises India Ltd's earnings growth is inflecting downward with mixed signals on a sequential basis.
Amber Enterprises India Ltd's trailing twelve month (TTM) performance
Amber Enterprises India Ltd appears significantly overvalued based on our fair value analysis.
Amber Enterprises India Ltd's current PE ratio is 134.0x.
Amber Enterprises India Ltd's current PE is 134.0x.
Amber Enterprises India Ltd's price-to-book ratio is 8.5x.
Amber Enterprises India Ltd is rated Average with a fundamental score of 40/100. This score is calculated from objective financial metrics
Amber Enterprises India Ltd has a debt-to-equity ratio of N/A.
Amber Enterprises India Ltd's return ratios over recent years
Amber Enterprises India Ltd's operating cash flow is positive (FY2025).
Amber Enterprises India Ltd currently does not pay a significant dividend (yield 0.00%).
Amber Enterprises India Ltd's shareholding pattern (Mar 2026)
Amber Enterprises India Ltd's promoter holding has decreased recently.
Amber Enterprises India Ltd has been outperforming Nifty 500 for 5 consecutive weeks, indicating building momentum.
Amber Enterprises India Ltd is an established outperformer with 5 weeks of consecutive Nifty 500 outperformance.
Amber Enterprises India Ltd has 6 key growth catalysts identified from recent earnings analysis
Amber Enterprises India Ltd has 3 key risks worth monitoring
In Q3 FY26, Amber Enterprises India Ltd's management highlighted
Amber Enterprises India Ltd's management has provided the following forward guidance for FY26 Full Year
Amber Enterprises India Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why Amber Enterprises India Ltd may be worth studying
Amber Enterprises India Ltd investment thesis summary:
Amber Enterprises India Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
