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Dolat Capital Report
We recently interacted with the management of Amber Enterprises India Pvt. Ltd. During our interaction, the management indicated that the competitive landscape will largely remain unchanged despite brands setting up own facilities.
Amber aims to bring components and other businesses to 50% level, from ~35% currently by adding new products and customers. Room air conditioner margins range 6-8%, while components deliver 4-12% margins.
Mobility division (Sidwal) is growing at 15-20% with Ebitda ~27%, electronics (IL JIN Electronics India Pvt. Ltd.) at 30%, motors at 35%.
Newly acquired AmberPR and Pravartaka (injection molding) are growing 25% plus with margins of 10-12%. Except IL JIN, rest are margin accretive.
In electronics division (IL JIN), the company has added Boat as customer for wearables and bluetooth speakers. In Motors division, Amber started manufacturing brushless direct current fans recently.
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