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ICICI Direct Report
Amber Enterprises India Ltd.'s revenue grew 27% YoY to Rs 974 crore led by 70% growth in component and mobility business to Rs 598 crore. However, room air conditioner segment revenue declined 9% due to 27% drop in volumes amid fear of lockdown and change in Bureau of Energy Efficiency norms.
Gross margins were intact supported by price hikes. Higher fixed costs weighed on overall Ebitda margin, which declined 70 basis points YoY to 7.6%.
Amber Enterprises' profit after tax up 18% YoY to ~Rs 33 crore, tracking higher sales in Q3.
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