Sidwal Refrigeration Industries, a wholly owned material subsidiary (WOS) of Amber Enterprises India has incorporated a WOS named, AT Railway Sub Systems on 15 March 2024.
The purpose of this incorporation is to carry on the business of manufacturing railway components and sub systems for the rolling stock industry in India and overseas and also to expand their business into the global markets.AT Railway Sub Systems has become wholly owned subsidiary of Sidwal and step down subsidiary of Amber Enterprises.
The incorporation has been done with an initial subscription of Rs 10 lakh by Sidwal Refrigeration Industries.
Amber Enterprises India is principally engaged in the business of manufacturing of consumer durable products.
The household appliance maker reported consolidated net loss of Rs 0.48 crore in Q3 FY24 as against net profit of Rs 14.15 crore posted in Q3 FY23. Revenue from operations fell 3.97% YoY to Rs 1,294.76 crore during the period under review.
The scrip declined 4.97% to end at Rs 3,337.65 on Friday, 15 March 2024.
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