Amber Enterprises India (AMBER ) Q4 21/22 earnings summary

Executive summary

• Consolidated FY22 revenue rose to ₹4,20,639.73 lakh from ₹3,03,052.01 lakh; PAT increased to ₹11,132.30 lakh from ₹8,327.92 lakh.

• Operating EBITDA was ₹29,565 lakh versus ₹22,858 lakh, up 29.4% YoY; FY22 included ₹1,567.47 lakh of share-based payment expense.

• Growth reflected demand recovery, new customer and product additions, capacity expansion, and two acquisitions that broadened backward integration and component capabilities.

Financial highlights

• Consolidated PBT was ₹15,427.15 lakh versus ₹12,013.24 lakh; PAT was ₹11,132.30 lakh versus ₹8,327.92 lakh in FY21.

• Consolidated EPS was ₹32.41 versus ₹24.96; standalone revenue rose to ₹3,13,760.43 lakh, while standalone PAT declined to ₹4,810.02 lakh from ₹5,155.69 lakh.

• Consolidated operating cash flow was ₹24,954.57 lakh; investing outflow was ₹69,842.61 lakh and financing inflow was ₹55,548.88 lakh.

Outlook and guidance

• Two greenfield projects were planned at Pune and Sri City; Supa began operations in Q4, while Sri City construction was on track for operations by September 2022.

• A separate update said Sri City mass production was expected to start by October 2022; the facility is planned for complete finished-goods indoor and outdoor units with backward integration.

• PLI approvals covered ₹3 billion of AC components investment and ₹1 billion for Electronics; domestic AC component value addition was projected to rise from 25% to 75% in 5-6 years.

• RAC demand was expected to grow at double-digit rates; industry estimates indicated a 24 million-unit Indian domestic market by 2030.