Amber Enterprises India (AMBER ) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 consolidated revenue reached ₹2,133 crore, up 65% year-over-year, with operating EBITDA nearly doubling to ₹162 crore and PAT improving to ₹37 crore from a loss last year.

• 9M FY25 revenue grew 59% to ₹6,219 crore, operating EBITDA rose 69% to ₹482 crore, and PAT surged 228% to ₹133 crore.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024 were approved and reviewed, with statutory auditors issuing an unmodified limited review report.

Financial highlights

• Q3 revenue: ₹2,133 crore (+65% YoY); operating EBITDA: ₹162 crore (+97% YoY); PAT: ₹37 crore (vs. -₹1 crore YoY).

• 9M revenue: ₹6,219 crore (+59% YoY); operating EBITDA: ₹482 crore (+69% YoY); PAT: ₹133 crore (+228% YoY).

• Gross margin for Q3 FY25 was 18.7%, with operating EBITDA margin at 7.6% and PAT margin at 1.7%.

• Basic EPS (consolidated) for Q3 FY25 was ₹10.61, up from ₹5.70 in Q3 FY24; nine-month EPS was ₹37.69, up from ₹11.34 year-over-year.

• EBITDA for Q3 FY25 was ₹17,472.15 lakh, up from ₹8,371.20 lakh in Q3 FY24.

Outlook and guidance

• Electronics Division revenue growth guidance revised upward from 45% to 55%+ for FY25, driven by PCBA and Bare Board verticals.

• Railway Subsystems and Defense Division expected to return to normalized margins (18%-22%) by H2 FY26, with revenue expected to double in three years.

• ROCE expected to cross 15% by year-end.