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The company stated that increase in finance cost (up 28.94% YoY) owing to increase in interest rates and higher depreciation (up 32.49% YoY) on account of capex done in last year and this year has led to decline in PAT.
Revenue from operations fell 6.57% year on year (YoY) to Rs 2,805.46 crore in the quarter ended 31 March 2024.
Operating EBITDA grew 14.71% to Rs 234 crore in Q4 FY24 as against Rs 204 crore posted in same quarter last year. Operating EBITDA Margin improved to 8.3% in Q4 FY24 as compared to 6.8% in corresponding quarter last year.
On full year basis, the company recorded 15.47% YoY decline in consolidated profit to Rs 132.88 crore on 2.86% fall in revenue from operations to Rs 6,729.27 crore in FY24 over FY23.
Jasbir Singh, executive chairman & CEO and whole time director of Amber Enterprises India, said, For FY24, our revenues reached Rs. 6,729 crores, while our operating EBITDA increased to Rs. 519 crores, marking a 9.3% year-on-year growth and resulting in an 80 basis points improvement in operating margins compared to the previous year. This improvement in operating EBITDA is due to a better product mix. However, our PAT for the year was affected by higher finance costs and depreciation.
Our recent acquisition of a 50% stake in Resojet for the manufacturing of fully automatic top and front load washing machines represents a significant step forward in expanding our Consumer Durables portfolio. This joint venture will help us strengthen our Consumer Durables Division, broaden our footprint beyond RAC, enhance our capabilities, and offer more comprehensive solutions to meet evolving customer needs, deliver high-quality products, and develop the local manufacturing ecosystem in India.
The acquisition of a 60% stake in Ascent Circuits has strengthened our EMS portfolio by integrating our current product lineup and expanding our customer base, leveraging Ascent’s technical expertise. This also increases local value addition and provides backward integration into the passive components of PCB assemblies for diverse applications.
Furthermore, AT Railway Sub Systems, a wholly-owned subsidiary of Sidwal, has entered into a joint venture with Yujin Machinery of South Korea. This collaboration will expand our product offerings and allow us to acquire Yujin’s technical expertise in manufacturing driving gears, couplers, and pantographs for various rolling stocks.
Amber Enterprises India is principally engaged in the business of manufacturing of consumer durable products.
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