Amber Enterprises India (AMBER ) Q2 26/27 earnings summary

Executive summary

• Q2FY27 consolidated revenue was ₹262,716.77 lakh versus ₹164,700.79 lakh a year earlier; operating EBITDA rose 30% to ₹127 Cr, while consolidated net loss was ₹6,635.03 lakh.

• H1FY27 revenue was ₹651,489.22 lakh versus ₹500,614.01 lakh; consolidated net loss was ₹6,326.47 lakh, while adjusted PAT was ₹69 Cr versus ₹74 Cr.

Financial highlights

• Q2 gross profit rose 46% to ₹494 Cr, with gross margin at 18.8% versus 20.5%; H1 gross profit increased 39% to ₹1,224 Cr and margin was 18.8% versus 17.3%.

• Q2 EBIT was ₹19 Cr, down 49%; H1 EBIT was ₹270 Cr, up 3%. Finance costs were ₹95 Cr in Q2 and ₹180 Cr in H1.

• Reported PAT was a loss of ₹66 Cr in Q2 and ₹63 Cr in H1; adjusted PAT, excluding exceptional losses of ₹9.5 Cr and ₹132.2 Cr, was a loss of ₹57 Cr in Q2 and profit of ₹69 Cr in H1.

• Q2 consolidated loss before tax was ₹8,712.55 lakh; standalone revenue was ₹111,465.50 lakh and standalone net loss was ₹7,993.14 lakh.

• Operating EBITDA excludes ESOP and other non-operating income/expenses; adjusted EBITDA reflects PPA fair-valued inventory consumption of ~₹13.5 Cr in Q2 and ₹28.8 Cr in H1.

Outlook and guidance

• Consumer Durables FY27 revenue growth is expected broadly in line with RAC industry growth; full-year margins are expected to be impacted by 50–100 bps.

• Railways FY27 revenue growth is expected at 15–20%, impacted by project delays; margins are expected to normalize in FY28 after older-project deliveries.

• Mobile trial production is expected in Q4FY27 and commercial production in Q1FY28; the business is positioned as a less seasonal, asset-light growth avenue.