Amber Enterprises India Ltd
Amber Enterprises India Ltd (AMBER)

Amber Enterprises India Ltd (AMBER)

₹2269.940.08%

Key Stats

₹2256
Day's Price Range
₹2292.7
₹2040
52-Week Price Range
₹4025.95
1 Month Return-5.48 %
3 Month Return-34.65 %
1 Year Return-23.8 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 280
69.97
EPS
Rank 56
₹32.4
BVPS
Rank 28
₹476.1
Dividend Yield
Rank 185
ROE
Rank 390
3.96%
Price To Book Ratio
Rank 230
4.76
Debt To Asset
Rank 281
0.55

Company Information

Amber Enterprises India Limited is a market leader in Room Air Conditioner RAC original equipment manufacturer OEM/original design manufacturer ODM industry in India. The company has diversified portfolio which includes RAC RAC components and non AC components. The company has 12 manufacturing facilities across 7 locations in India strategically located close to customers enabling faster turnaround. The Companys manufacturing facilities have a high degree of backward integration. The company has 55.4 market share of outsourced domestic OEM/ODM and 19.1 market share of overall RAC volumes in India in FY17 based on Frost Sullivan Reports. The company serves 8 out of 10 RAC brands in India and 75 of market share of India RAC is commanded by the companys customers.The Company designs and manufactures complete RACs including window air conditioners WACs and indoor units IDUs and outdoor units ODUs of split air conditioners SACs with specifications ranging from 0.75 ton to 2 ton across energy ratings and types of refrigerant. The Company also designs and manufactures Inverter RACs on ranging from 1 ton to 2 ton. The Company manufactures critical and reliability functional components of RACs such as heat exchangers motors inverter and noninverter printed circuit boards and multiflow condensers. It manufactures other RAC components such as sheet metal components copper tubing and injection molding components. The Company also manufactures components for other consumer durables and automobiles such as case liners for refrigerator plastic extrusion sheets and printed circuit boards for consumer durables and automobile industry sheet metal components for microwave washing machine tub assemblies and for automobiles and metal ceiling industries.The Companys key customers include leading RAC brands such as Daikin Hitachi LG Panasonic Voltas and Whirlpool. The Company has built strong and longstanding relationships with the customers by aligning its offerings with their business needs. The Company provides them with a range of additive manufacturing solutions at their doorsteps by supplying them components and RACs through OEM/ODM models. In recognition of efficient services and products the company has received several awards from its customers such as Best of Best Performance Award from LG for 2015 and 2016 and Leadership Business Innovation Award from Panasonic for 20152016.The Promoters Jasbir Singh and Daljit Singh are experienced in the RAC and components manufacturing sector and its key management persons include experts from the industry with wide experience. Amber Enterprises India Limited was incorporated as a private limited company with the name Amber Enterprises India Private Limited on April 2 1990 at Jalandhar Punjab. In 1994 the company established its first factory at Rajpura. During the year 200304 the company commenced operations at its Dehradun plant for RAC manufacturing for LG. In 2004 Dehradun Factory Unit 4 was established.In 201506 the company started manufacturing microwave ovens for LG. in 2008 the companys Noida Ecotech unit commenced operations. During the year 200708 the company started manufacturing heat exchangers. In 2009 Dehradun Factory Unit 5 was established. In 2010 Kasna Unit Kala Amb Unit Pune Unit and Dehradun Factory unit 6 were established. In 2011 Green India Venture Fund made investment in the company. In 2012 Jhajjar unit was established. During the year under review Reliance Alternative Investments Fund Private Equity Fund Scheme I made investment in the company.The company entered into a share purchase agreement SPA dated November 10 2012 with Rakesh Dewan Kavita Dewan and PICL India Private Limited PICL for acquiring the entire shareholding of PICL for an aggregate consideration of Rs 48.97 crore. As an integral part of the SPA the parties also entered into a noncompete and nonsolicitation agreement dated November 10 2012. PICL is involved in the business of manufacturing various kinds of fractional horse power motors for WACs ODUs of SACs and commercial air conditioners.In 2017 Ascent Investment Holdings Pte. Limited acquired the stake of Reliance Alternative Investments Fund Private Equity Fund Scheme I in the company thus providing exit to Reliance Alternative Investments Fund Private Equity Fund Scheme I. During the year under review Appserve Appliance Private Limited was incorporated as a subsidiary of the company. The Company was converted into a public limited company and consequently the name of the Company was changed to Amber Enterprises India Limited on September 22 2017.Amber Enterprises India Limited entered into a share purchase agreement dated November 11 2017 with IL JIN Hyun Chul Sim HCS and Su A Lee SAL for the purchase of 1320613 equity shares of IL JIN from HCS equivalent to 70 of IL JINs outstanding equity shareholding. The acquisition was completed on December 28 2017. IL JIN is engaged in the business of manufacturing assembling dealing importing and exporting of electronic assembled printed circuit boards for home appliances and automobile products.On 03/10/2017 the company filed Draft Red Herring Prospectus and on 16/01/2018 filed Red Herring Prospectus with SEBI for raising Rs. 599.57 cr. The Issue dates were from 17/01/2018 to 19/01/2018 with Price Band of Rs. 855 to Rs. 859. The Issue got subscribed 115.32 times leading to its Issue Price being fixed at Rs. 859. The Shares got listed in BSE and NSE on 30/01/2018 at Rs. 1180 which is 37.37 above Issue Price.The Board of Directors of Amber Enterprises India Limited at its meeting held on March 9 2018 considered and approved the proposal for acquiring 70 Equity Share Capital of Ever Electronics Private Limited EVER in one or more tranches. EVER is engaged in the business of assembly of Electronics PCB. The earlier acquisition of IL JIN Electronics India Pvt Ltd in December 2017 and the proposed acquisition of EVER will help Amber to offer more integrated solutions for inverter air conditioners and move towards Smart Future Ready Technology.On 29 June 2018 Amber Enterprises India Limited informed the stock exchanges that promoters of Ever Electronics Private Limited EVER has requested for extension of time limit for completing the Condition Precedent for acquiring balance 51 of stake of total Share Capital of Ever by the Company i.e. Amber Enterprises India Limited. Pursuant to the above request the Company has extended the timeline to complete the acquisition of balance stake of 51 by December 31 2018 in one or more tranches. As on date the Company has made an investment of 571.50 Lakh for acquisition of 1040149 Equity Shares of Ever Electronics Private Limited EVER which represents 19 of the total Share Capital of EVER.On 12 July 2018 Amber Enterprises India Limited informed the stock exchanges that PICL India Private Limited PICL is no more a material subsidiary of Amber Enterprises India Limited as PICL is not meeting the threshold as mentioned in clause c of subregulation 1 of Regulation 16 of SEBI Listing Obligation and Disclosure Requirements Regulations 2015.The company has executed Letter Agreement dated 1st October 2018 entered into by and between the Company i.e. Amber Enterprises India Limited Amber Ever Electronics Private Limited EVER Vision Creative Limited and Mr. Hyun Chul Sim by virtue of said Agreement Amber has right to appoint majority of Directors on the Board of EVER accordingly Amber has exercised the above said right and has appointed majority of Directors on the Board of EVER on 1st October 2018. Consequent to above right and as per Section 2 87 of the Companies Act 2013 EVER has become the subsidiary of Amber by virtue of controlling the composition of the Board of EVER.
OrganisationAmber Enterprises India Ltd
HeadquartersRajpura
IndustryConsumer Durables