Amber Enterprises India Limited has announced its audited financial results for the quarter and financial year ended March 31, 2026, reporting strong financial performance with consolidated revenue from operations growing 22% year-on-year to cross the ₹12,000 Cr milestone. The company also held its Q4 & FY26 Earnings Call with investors and analysts on May 18, 2026, the audio recording of which has been uploaded on its investor relations website in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Following the results, global brokerages CLSA and JPMorgan have issued their updated ratings on the stock, reflecting a mixed outlook on near-term margins and longer-term growth prospects.

Consolidated Financial Highlights

For FY26, the company achieved a consolidated revenue of ₹12,186 Cr, a 22% increase over the previous year. Operating EBITDA stood at ₹970 Cr, growing 22% YoY, while Adjusted PAT reached ₹338 Cr, also up 22% YoY. Adjusted PAT for FY26 is prior to an exceptional one-off impairment of investment in Shivalik and share of loss of JV amounting to ₹112 Cr (FY25: ₹26 Cr). The consolidated basic earnings per share stood at ₹50.48 for FY26, compared to ₹72.01 in FY25, while diluted EPS was ₹50.28 against ₹71.67 in FY25.

In Q4, consolidated revenue came in at ₹4,147 Cr versus ₹3,753 Cr in the year-ago period, representing a 10% YoY increase. Operating EBITDA grew 15% YoY to ₹362 Cr, with EBITDA margin improving to 8.57% from 7.51% in the same quarter last year. Adjusted PAT for the quarter grew 27% to ₹162 Cr, while consolidated net profit rose to ₹1,619 Cr from ₹1,184 Cr YoY. Q4 basic EPS stood at ₹38.04 and diluted EPS at ₹37.89.

Standalone Financial Performance

On a standalone basis, Amber Enterprises reported total income from operations of ₹7,96,695.29 lakh for FY26, compared to ₹6,74,396.58 lakh in FY25. Net profit after tax for the full year stood at ₹14,587.15 lakh, up from ₹13,531.50 lakh in the previous year. Total comprehensive income for FY26 was ₹14,644.22 lakh against ₹13,618.11 lakh in FY25. Standalone basic EPS was ₹41.45 for FY26 compared to ₹40.01 in FY25, while diluted EPS stood at ₹41.28 against ₹39.83.

For Q4FY26 on a standalone basis, total income from operations was ₹2,88,972.85 lakh versus ₹2,67,945.66 lakh in Q4FY25. Net profit after tax for the quarter stood at ₹8,428.67 lakh compared to ₹7,959.23 lakh in the year-ago period. Standalone reserves (excluding revaluation reserve) as shown in the audited balance sheet stood at ₹3,02,629.69 lakh for FY26, compared to ₹1,85,790.75 lakh in FY25. Equity share capital was ₹3,519.17 lakh as of March 31, 2026.

Division-wise Performance

All three divisions contributed to the consolidated revenue. The following table summarizes the divisional performance for FY26:

The Consumer Durables Division recorded a revenue of ₹8,383 Cr, a 14% YoY increase, while Operating EBITDA grew 6% to ₹593 Cr. The Electronics Division delivered robust growth, with revenue rising 49% YoY to ₹3,268 Cr and Operating EBITDA surging 89% to ₹287 Cr. The Railway Sub-systems & Defense Division reported revenue of ₹535 Cr, up 19% YoY, with Operating EBITDA growing 8% to ₹90 Cr.

Analyst Ratings

Following the release of Q4 and FY26 results, two prominent global brokerages have updated their views on Amber Enterprises. The table below summarizes their current ratings and target prices:

CLSA has maintained its Outperform rating on Amber Enterprises with a reduced target price of ₹8,100. The brokerage noted that Q4 results came in ahead of estimates on strong growth and profitability, while flagging near-term margin pressure stemming from higher input costs and delayed pass-throughs in the electronics segment. CLSA expects FY28 margin recovery and strong growth across consumer durables, electronics, and mobility segments.

JPMorgan, on the other hand, has maintained a Neutral rating with a reduced target price of ₹7,650. The brokerage cited weaker-than-expected FY27 growth guidance, delays in PCB project execution, and expected EBITDA margin compression from higher raw material and wage costs as key concerns. As a result, JPMorgan has made cuts to its FY27–28 revenue and EPS estimates for the company.

Margin Outlook

In its concall update, Amber Enterprises indicated that it anticipates 50-100 basis points of margin pressure on a consolidated basis. This development comes against the backdrop of strong top-line growth and improving divisional profitability reported for FY26, and is consistent with the near-term concerns flagged by both CLSA and JPMorgan.

Strategic Expansion and Balance Sheet

Amber Enterprises advanced its growth strategy through strategic stake purchases in Shogini Technoarts, Power-One Microsystem, and Unitronics. Additionally, approvals were secured under the Electronics Component Manufacturing Scheme (ECMS) for multi-layer and HDI PCB applications. The company also secured land allotment for new manufacturing facilities at YEIDA, Uttar Pradesh. On the consolidated balance sheet, total assets grew to ₹13,767 Cr as of March 26, 2026, from ₹8,428 Cr in the previous year. Total equity increased to ₹5,802 Cr from ₹2,310 Cr, supported by equity fundraising activities. Consolidated reserves (excluding revaluation reserve) stood at ₹4,33,692.53 lakh for FY26, compared to ₹2,25,196.99 lakh in FY25.

Earnings Call Recording

The Earnings Call with investors and analysts to discuss the audited financial results for Q4 & FY26 was held on May 18, 2026, at 09:30 A.M. IST. In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the audio recording of the earnings call has been uploaded on the company's website and is accessible at the investor relations portal.

Amber Enterprises India Limited has notified the stock exchanges of an upcoming Board of Directors meeting scheduled for Friday, May 15, 2026. The intimation, dated May 11, 2026, has been filed pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Board Meeting Agenda

The primary agenda of the board meeting is to consider and approve the Audited Financial Results of the company, prepared in accordance with Indian Accounting Standards (Ind AS). The results will cover both the Standalone and Consolidated financials for the quarter and financial year ended March 31, 2026.

Key details of the scheduled board meeting are outlined below:

Trading Window Closure

In accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, as amended, and the company's own Code of Conduct for Insider Trading and Fair Disclosure of Unpublished Price Sensitive Information, the Trading Window for dealing in the company's equity shares has been closed effective April 1, 2026. The closure applies to Directors, Promoters, Designated Persons, and Specified Connected Persons of the company, including those of its Subsidiaries and Joint Ventures.

The Trading Window will remain closed until 48 hours after the Audited Financial Results for the quarter and financial year ended March 31, 2026, are made generally available to the public.

Post-Meeting Disclosure

Amber Enterprises India Limited has confirmed that the outcome of the Board meeting will be disseminated to the stock exchanges upon conclusion of the meeting, within the stipulated timeframe as prescribed under the SEBI (LODR) Regulations. The intimation was signed by Konica Yaadav, Company Secretary and Compliance Officer (M. No. A30322), on May 11, 2026.