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Amber Enterprises India (AMBER ) investor relations material
Amber Enterprises India Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated H1 FY26 revenue grew 25% year-over-year to INR 5,096 crore, with Q2 FY26 revenue at INR 1,647 crore, but PAT declined 23% YoY to INR 74 crore due to higher financing costs and JV losses.
Q2 FY26 revenue was flat due to a 30%-35% industry decline in room air conditioning, but electronics and railway divisions showed resilience and growth.
Q2 FY26 saw a consolidated net loss of INR 32 crore, impacted by higher financing costs, elevated inventory, and JV losses.
Board approved unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2025, with unmodified limited review reports.
Financial highlights
Q2 operating EBITDA declined 19% year-over-year to INR 98 crore; H1 FY26 operating EBITDA up 13% YoY to INR 361 crore.
Consumer Durable Division Q2 revenue fell 18% YoY to INR 873 crore; Electronics Division Q2 revenue rose 30% YoY to INR 642 crore; Railway Subsystems and Defense Q2 revenue grew 7% to INR 132 crore.
Gross margin for H1 FY26 improved to 20.5% from 20.1% YoY; operating EBITDA margin for H1 FY26 was 7.1%, down from 7.8% YoY.
Net debt stood at INR 1,012 crore as of September, up from INR 780 crore in March; net cash from operating activities was negative INR 772 crore in H1 FY26.
Standalone revenue from operations for Q2 FY26: INR 72,739.82 lakh; consolidated: INR 1,64,779 lakh.
Outlook and guidance
Consumer Durable Division expected to grow 13%-15% for FY26, despite a flattish industry outlook.
Electronics Division revenue guidance of INR 3,200 crore+ for FY26, with PCBA contributing INR 2,400 crore+; double-digit EBITDA margins targeted by FY27.
Railway Subsystems and Defense Division expected to double revenue over the next two years, backed by a strong order book of INR 2,600 crore+.
Inventory levels expected to normalize by Q4, with GST cuts on RACs anticipated to drive industry growth.
Proceeds from QIP to be used for debt repayment and general corporate purposes; strategic investments and acquisitions expected to support future growth.
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