Amber Enterprises India (AMBER ) Q4 25/26 earnings summary

Executive summary

• Consolidated revenue for FY 2026 grew 22% year-over-year to INR 12,186 crore, surpassing the INR 12,000 crore milestone, with all divisions contributing to growth despite a challenging environment.

• Strategic initiatives included horizontal and vertical expansion in electronics, majority stake acquisition in Unitronics Israel, and proactive inventory buildup to mitigate supply chain risks.

• Equity funds of ~₹1,000 Cr raised via QIP, and additional capital raised by ILJIN Electronics, bolstering the balance sheet.

• Audited standalone and consolidated financial results for the year ended 31 March 2026 were approved, with a qualified opinion on consolidated results due to unaudited subsidiary and joint venture data.

Financial highlights

• FY 2026 consolidated revenue was INR 12,186 crore (22% YoY growth); Q4 FY 2026 revenue was INR 4,148 crore (+10% YoY).

• Operating EBITDA for FY 2026 was INR 970 crore (22% YoY growth); adjusted PAT was INR 338 crore (22% YoY growth).

• Net debt as of March 2026 stood at INR 511 crore, down from INR 780 crore a year earlier.

• Gross margins improved to 18.4% in FY26 from 17.9% in FY25.

• Total assets rose to ₹13,76,687.58 lakh (consolidated) as of 31 March 2026.

Outlook and guidance

• Electronics division expected to grow ~40% in FY 2027, with margins in the 9.5%-10% range, driven by acquisitions and alliances.

• Railway division guided for 30%-35% revenue growth in FY 2027 and FY 2028, with margins of 16%-17%.

• Consumer durables division expected to grow in line with industry at 12%-13% for FY 2027.

• Margin pressure of 50-100 bps anticipated in the near term due to commodity prices, wage hikes, and currency depreciation, expected to normalize as macro conditions improve.

• Management continues to focus on strategic acquisitions, international expansion, and operational integration.