Amber Enterprises India on Saturday (19 September) announced that it acquired 9,000 equity share of face value of Rs 1000 each, comprising of 20% stake, of Sidwal Refrigeration Industries.
Accordingly, Sidwal Refrigeration Industries has become a wholly-owned subsidiary of Amber Enterprises India with effect from 18 September 2020.
Shares of Amber Enterprises India were up 0.89% to Rs 2,062.40 on BSE. It has soared 153.99% from its 52-week low of Rs 812 hit on 9 October 2019.
On a consolidated basis, Amber Enterprises India reported net loss of Rs 23.92 crore in Q1 June 2020 compared with net profit of Rs 64.33 crore in Q1 June 2019. Net sales dropped 79% to Rs 259.45 crore in Q1 June 2020 over Q1 June 2019.
Amber Enterprises India is a solution provider for air conditioner OEM/ODM industry. The company has diversified portfolio which includes RACs, RAC components and air conditioning solutions for railways, metro's, defence, bus & commercial segment. The company has 15 manufacturing facilities across 6 locations in India, strategically located close to customers enabling faster turnaround.
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