Operating EBITDA stood at Rs 65 crore in Q2 FY24, registering the growth of 25% as compared with Rs 52 crore posted in corresponding quarter last year.

The company stated that its component strategy which led to product mix change has helped to improve margins during the quarter despite weak demand in RAC owing to unseasonal weather patterns. RAC Finished goods contribution stands at 40% at consolidated Level. Non-RAC components category improved to 39%.

Jasbir Singh, executive chairman & CEO and whole time director of Amber Enterprises India, said, “Q1 which is usually a strong quarter, was impacted by unseasonal weather patterns which lead to increased inventory levels. However, rising temperatures and festivities on the anvil got the demand back and has helped in liquidation of inventory during the quarter gone by, thereby leading to normalized levels of channel inventory. As we march ahead, the overall order book looks promising.

Electronics division has been a significant contributor for us over the years. We started our stint in this division with inverter AC and has now diversified into providing solutions for home appliances, consumer electronics, wearables, hearables, telecom, and automobile segments. Recently we entered in a joint venture with Nexxbase Marketing having its brand name ‘Noise' to undertake the manufacturing, assembling, and designing of wearables and other smart electronics products.

On the Mobility side, Sidwal is a market leader in mobility HVAC and is further turning its wheels by expanding it footprints into railway sub-systems space by adding products such as doors, gangways and pantry systems.”

Amber Enterprises India is a market leader in Indian room air conditioner (RAC) industry and air conditioning industry for mobility application such as railways, metros, buses, etc. The company has diversified portfolio which includes RACs, RAC components and air conditioning solutions for railways, metro's, defence, bus & commercial segment. The company has multiple manufacturing facilities across various states in India, strategically located close to customers enabling faster turnaround.