Introduction
Amber Enterprises India Ltd is a leading player in India’s Room Air Conditioner (RAC) and component manufacturing industry. The company specializes in Original Equipment Manufacturing (OEM) and Original Design Manufacturing (ODM) for prominent air conditioning brands. With a strong market presence and continuous expansion, Amber has emerged as a key supplier of RACs and critical components, contributing significantly to the sector’s growth.
Price Chart
Historical Price Chart
| Time |
Amber Enterprises |
Nifty50 Returns |
Sensex Returns |
Industry Returns |
Sector Returns |
| 1 Day |
2.66% |
0.03% |
-0.01% |
-0.73% |
0.49% |
| 1 Week |
12.62% |
1.93% |
1.55% |
4.87% |
3.34% |
| 1 Month |
-8.05% |
-4.28% |
-4.53% |
-2.04% |
-6.01% |
| 3 Months |
9.17% |
-8.61% |
-9.03% |
-12.34% |
-16.74% |
| 6 Months |
40.42% |
-9.25% |
-8.44% |
7.99% |
-13.13% |
| 1 Year |
73.7% |
0.26% |
0.29% |
93.71% |
25.12% |
| 3 Year |
88.67% |
42.17% |
40.67% |
266.2% |
390.18% |
| 5 Years |
335.97% |
105.22% |
97.82% |
2,117.5% |
1,512.53% |
| 10 Years |
637.97% |
152.33% |
152.41% |
2,310.13% |
953.06% |
Evolution & History
Founded in 1990, Amber Enterprises began as a small manufacturing unit in Punjab, focusing on sheet metal components. Over the years, the company strategically expanded its operations through organic growth and acquisitions. Notable milestones include:
- 2012: Acquisition of PICL India Pvt. Ltd. to strengthen motor manufacturing.
- 2017: Acquisition of Ever Electronics to enter PCB manufacturing.
- 2018: Successful IPO launch, raising capital to fuel expansion.
- 2021-23: Expansion into new verticals such as air coolers and commercial refrigeration.
Product Segments & Offerings
Amber operates in multiple segments within the cooling solutions and component manufacturing industry:
- Room Air Conditioners (RACs): Major supplier to brands like Voltas, LG, and Daikin.
- Components & Sub-assemblies: Manufacturing compressors, motors, PCB assemblies, and plastic molded components.
- Commercial AC & Refrigeration: Expanding into industrial cooling solutions.
- Mobility Applications: Supplying HVAC solutions for railways and buses.
Financial Analysis & Key Metrics
The company has demonstrated robust growth, driven by increasing demand for RACs and localization efforts. Below are the latest financial figures (TTM up to Q3 FY24):
| Metric |
FY21 |
FY22 |
FY23 |
TTM (Q3 FY24) |
| Revenue (₹ Crores) |
3,065 |
4,214 |
5,592 |
6,785 |
| EBITDA (₹ Crores) |
267 |
339 |
458 |
520 |
| Net Profit (₹ Crores) |
85 |
114 |
160 |
133 |
| Earnings Per Share (₹) |
24.8 |
33.2 |
46.1 |
39.1 |
Key Ratios
- Return on Equity (ROE): 7.39%
- Debt-to-Equity Ratio: 0.58
- P/E Ratio: 99.42
- P/B Ratio: 10.47
Shareholding Pattern (as of Dec 2023)
| Category |
Holding (%) |
| Promoters |
39.72 |
| Foreign Institutional Investors (FII) |
28.56 |
| Domestic Institutional Investors (DII) |
19.11 |
| Retail & Others |
12.61 |
Peer Comparison
| Company |
Market Cap (₹ Crores) |
P/E Ratio |
ROE (%) |
Dividend Yield (%) |
| Amber Enterprises India Ltd |
20,896 |
99.42 |
7.39 |
0.00 |
| Havells India Ltd |
90,465 |
63.90 |
20.4 |
0.62 |
| Dixon Technologies (India) Ltd |
87,112 |
N/A |
26.5 |
0.03 |
| Voltas Ltd |
45,923 |
61.52 |
14.6 |
0.40 |
| Blue Star Ltd |
43,824 |
93.03 |
17.9 |
0.33 |
SWOT Analysis (4-Quadrant Table)
| Strengths |
Weaknesses |
| Market leader in RAC manufacturing |
High dependency on RAC industry |
| Strong clientele with top brands |
Moderate profit margins |
| Expanding into new cooling segments |
High working capital needs |
| Opportunities |
Threats |
| Rising demand for energy-efficient cooling |
Intense competition from global players |
| Government push for local manufacturing |
Commodity price fluctuations |
| Expansion into mobility & commercial cooling |
Regulatory challenges |
Bottom Line
Amber Enterprises continues to be a dominant force in the RAC manufacturing space, with strong growth potential driven by increasing localization and government incentives. However, challenges such as fluctuating raw material costs and dependency on key clients require careful management. Investors should monitor its margin improvements, diversification efforts, and capacity expansions to gauge long-term sustainability.
Discalimer!
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