Amber Enterprises India Limited and Schweizer Electronic AG intend to enter a strategic cooperation in the field of printed circuit boards (PCBs) to strengthen supply chain resilience for customers in the European and US regions. The partnership involves IL JIN Electronics (India) Pvt. Limited, part of the Amber Group, which operates its bare PCB business through its subsidiaries, specifically focusing on Ascent Circuits. This collaboration aims to create additional value by broadening sourcing options and preparing a structured path toward future technology capabilities.

The planned cooperation will combine Schweizer's long-standing experience in automotive and industrial PCB applications with Ascent Circuits' manufacturing footprint and expansion plans in India. By aligning complementary strengths, the companies intend to build a scalable platform for future growth while addressing the increasing importance of diversified, reliable, and geopolitically resilient supply chains in the global electronics industry.

In the first phase, the partners will concentrate on selected standard automotive and industrial PCB applications based on existing manufacturing capabilities. Parallel to this, the cooperation will develop a step-by-step roadmap toward more complex multilayer and High-Density Interconnect (HDI) applications as future Indian capacities become available. A key element of the cooperation will be the alignment of customer requirements, technical capabilities, capacity needs, and commercial competitiveness.

High quality, qualification, and process standards will play a critical role in meeting the expectations of demanding automotive and industrial customers. The partners also plan to evaluate selected future growth areas in other industries where the cooperation can generate long-term customer value. For customers, this collaboration offers additional options in a changing market environment.

Key Aspects of the Cooperation

Amber Enterprises India Limited has disclosed the operational and financial roadmap for its manufacturing collaboration with Oppo Mobiles India Private Limited. The agreement, executed on June 18, 2026, covers the production of mobile phones for Oppo, OnePlus, and Realme brands. Management expects trial production to commence in Q4 FY27, with commercial production starting in Q1 FY28.

The company plans to begin with approximately 8 million units in the first year, with a calibrated ramp-up targeting 13 million to 15 million units in the second year. Manufacturing will be carried out at an existing facility under a sublease arrangement with Oppo India, a structure that does not require Press Note 3 approval. The capital expenditure for the initial assembly and SMT operations is expected to be minimal, below ₹50 crore.

Financial and Operational Context

Jasbir Singh, Executive Chairman and CEO, highlighted that the collaboration marks Amber Group's entry into the consumer electronics industry. The deal leverages Oppo's global product expertise and Amber's manufacturing scale. The arrangement is asset-light and structurally low on working capital intensity, with net-working capital days estimated between 4 and 10 days.

Strategic Outlook

Management anticipates returns on capital employed (ROCE) to exceed 30% on a standalone basis for the assembly business. While initial EBITDA margins are expected to be in line with industry standards of 1.5% to 2%, the company aims to improve margins through progressive local value addition. The roadmap includes moving from assembly and SMT operations to high-density interconnect printed circuit boards over the next five years, potentially increasing local value addition to 35%–40%.

The collaboration is intended to diversify Amber's revenue profile and reduce the seasonal concentration inherent in its room air conditioner business. Amber Group reported a revenue from operations of INR 12,186 crores for the financial year ended March 31, 2026, while Oppo Mobiles India Private Limited recorded a revenue from operations of INR 31,981 crores for the financial year ended March 31, 2025.