Amber Enterprises India Ltd Releases Performance Snapshot for H1 FY19
Deepthi | Myequity news | Date : 01-11-2018 18:50:00 IST
Amber Enterprises India Ltd. (AEIL), a market leader in Indian Room Air Conditioner (RAC) and OEM/ODM industry declared its Unaudited Financial Results for the quarter and half year ended September 30, 2018.
Result Highlights (H1 FY19 Y-o-Y) :
•The Company recorded Revenue of Rs. 828 crs during H1FY19, as against Rs. 889 crs in H1FY18 (adjusted for GST/Excise)
•Revenue from AC Components grew by 12% (Rs. 76 Crs) and Non AC Components grew by 19% (Rs. 137 Crs) on Y-o-Y basis.
•With strong order book and increased sales of AC & Non AC Components we expect the revenue picking up in H2FY19.
Gross Profit of Rs. 140 Crs
•Gross profit for H1FY19 stood at Rs. 140 crs as compared to Rs. 142 crs, 16.9% up by 100 bps on Y-o-Y basis for H1FY18
Operating EBIDTA of Rs. 71 Crs & PAT of Rs. 27 Crs
•Operating EBIDTA for H1FY19 stood at Rs. 71 Crs and Operating EBIDTA margins were 8.6%
•PAT for H1FY19 stood at Rs. 27 crs. PAT margin grew by 13 bps as compared to H1FY18
Q3FY19 started off on a positive note, since the inventory which was piled up in Q1FY19 was liquidated in Q2FY19 and the increase in customs duty has helped us gain additional traction from the brands to procure and manufacture domestically
Commenting on the results and performance, Mr. Jasbir Singh, Chairman & CEO of Amber Enterprises India Ltd said: “We have observed 12% growth in our AC components segment and 19% growth in our Non AC components segment in H1FY19 on Y-o-Y basis. However due to Unseasonal rains and inventory pile up across brands in H1FY19 we have seen a muted growth for H1FY19 in terms of our AC volumes.
Despite the headwinds from the industry in the first half of the year, we are confident that the demand momentum will pick up in the second half on the back of the festive season and our outlook on the full year remains the same of outperforming the industry and delivering growth in volumes on annualized basis.
Also the recent custom duty hike on Air conditioners from 10% to 20% will help us gain additional demand from brands across various product categories. This will also help us increase the wallet share in the existing customer and cater to new customers thereby increasing our market share in outsourced Room AC Segment. Moving forward, we also reiterate our confidence in our ability to sustain Company’s delivery of outstanding shareowner value.”
About Amber Enterprises India Limited:
AEIL was incorporated in 1990 and is a market leader in Indian Room Air Conditioner (RAC) and OEM/ODM industry. The Company has diversified portfolio which includes RAC’s, RAC’s Components and non AC components. The Company has 12 manufacturing facilities across 7 locations in India, strategically located close to customers enabling faster turnaround.