On a consolidated basis, Amber Enterprises India reported 22% jump in net profit to Rs 76 crore on 22% rise in revenue from operations to Rs 1,598 crore in Q4 FY21 over Q4 FY20.
On the segmental front, Q4 FY21 revenue of the room air conditioner (RAC) business was at Rs 959 crore as against Rs 829 crore in Q4FY20, up 15.8% YoY.
Revenue of the components & mobility application business rose by 31.7% to Rs 640 crore in Q4 FY21 over Q4 FY20. The segment contributed 40% to revenue from operations in Q4FY21 as compared to 37% in Q4FY20. The company's outlook for growth is optimistic with addition of new customers, demand from newer geographies and strengthening of order book on back of new order wins.
Operating EBITDA increased 24% to Rs 147 crore in Q4 FY21 compared with Rs 119 crore in Q4 FY20. Operating EBIDTA margin improved by 17 bps to 9.2% as on 31 March 2021 from 9% as on 31 March 2020.
In Q4 FY21, Amber Enterprises said that the Industry achieved normalized inventory levels on the back of sustained retail & OEM demand. Demand in metro and Tier 1 cities showed resilience. Omni-channel presence led to demand uptick for AC's especially in the Tier 2/Tier 3 cities. The company was able to pass on the increase in raw material cost and sustain operating EBITDA margins at 9.2%.
The company reported 49.4% drop in consolidated net profit to Rs 83 crore on 23.5% decline in revenue from operations to Rs 3,031 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
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Jasbir Singh, chairman & CEO of Amber Enterprises India, said: "First half of the financial year 2021 was a challenging period with uncertainties and complexities brought by Covid-19 pandemic. However, sharp recovery in business sentiments in second half of the year has enabled us to post a strong performance in this quarter.
Recently, announced PLI scheme augurs well for us and the industry as a whole, as it lays emphasis on manufacturing and value addition in RAC industry. This scheme provides manufacturers like us a large-scale opportunity to expand our existing components base of PCBAs and Motors.
Earlier, the ban on refrigerant filled AC's had provided an opportunity for domestic manufacturers. Post the ban we have successfully signed 6 new customers.
On our Sidwal Business, traction in Railways & Metro segments continues to remain strong and we have been maintaining a healthy order book.
The second wave of covid-19 in India poses a threat to the sustenance of growth momentum, however we are keeping a close tab on the situation and operating all our facilities with minimum disruption."
Amber Enterprises India is a market leader in Indian room air conditioner (RAC) industry and air conditioning industry for mobility application such as railways, metros, buses etc. The company has diversified portfolio which includes RACs, RAC components and air conditioning solutions for railways, metro's, defence, bus & commercial segment.
The scrip fell 2.27% to currently trade at Rs 2938 on the BSE.
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