Amber Enterprises has successfully completed the merger of two of its subsidiaries, marking a significant corporate restructuring move. The company announced the finalization of the amalgamation between IL JIN Electronics (India) Private Limited and Ever Electronics Private Limited, streamlining its organizational structure.

Merger Approval and Implementation

The National Company Law Tribunal (NCLT), Mumbai, approved the amalgamation scheme on May 30. Following this approval, the certified copy of the order was issued on June 24. The merger became effective on June 27, when both IL JIN Electronics and Ever Electronics filed the required e-Form INC-28 with the Registrar of Companies, Pune.

Final Steps and Status Change

The final approval for IL JIN Electronics was received on August 4, marking the completion of the merger process. As a result, Ever Electronics' status has been officially changed to an amalgamated company. This change reflects the successful integration of the two entities under the Amber Enterprises umbrella.

Significance of the Merger

Prior to the amalgamation, IL JIN Electronics (India) Private Limited was identified as a material subsidiary of Amber Enterprises, while Ever Electronics Private Limited was a subsidiary of the company. The merger is expected to consolidate operations, potentially leading to improved efficiency and streamlined business processes within the Amber Enterprises group.

Regulatory Compliance

Amber Enterprises has ensured full compliance with regulatory requirements throughout the merger process. The company filed the necessary intimations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This merger was executed under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, along with the associated Rules.

Investor Information

Shareholders and stakeholders can access additional information about this corporate action on Amber Enterprises' official website at www.ambergroupindia.com . The company's proactive communication aims to keep investors informed about significant changes in its corporate structure.

This strategic move by Amber Enterprises represents a noteworthy development in the company's corporate structure, potentially impacting its operations and market position in the coming months.

Amber Enterprises India Limited , a leading player in the consumer durables and electronics manufacturing sector, has announced a strategic acquisition and reported robust financial results for the first quarter.

Strategic Acquisition of Power-One Micro Systems

Amber Enterprise's subsidiary ILJIN Electronics (India) Private Limited has signed definitive agreements to acquire a majority stake in Power-One Micro Systems Private Limited. This acquisition is set to strengthen Amber's position in high-potential sectors including battery storage, solar inverters, EV chargers, and UPS systems.

The strategic alliance committee of ILJIN's board approved the execution of these agreements on June 27. The consideration for the acquisition will be determined upon completion of conditions precedent mentioned in the definitive agreements.

Strong Q1 Financial Performance

Amber Enterprises has reported impressive financial results for the quarter ended June 30:

• Consolidated Revenue: The company's revenue from operations surged by 44% year-on-year to ₹3,449.13 crore, compared to ₹2,401.29 crore in the same quarter of the previous year.
• Operating EBITDA: Operating EBITDA grew by 31% to ₹263.00 crore, up from ₹200.00 crore in the same quarter last year.
• Profit After Tax (PAT): The company's PAT witnessed a significant increase of 42%, reaching ₹106.00 crore compared to ₹75.00 crore in the corresponding quarter of the previous year.

Segment-wise Performance

Amber Enterprises operates through three main divisions, all of which showed growth:

Management Commentary

Jasbir Singh, Executive Chairman of Amber Enterprises, commented on the results: "We are pleased to report a robust performance for the quarter with Revenue from Operations of ₹3,449 crore, reflecting a growth of 44% YoY, resultant Operating EBITDA of ₹263 crore, growth of 31% YoY and PAT of ₹106 crore, translating into growth of 42% on a YoY basis."

He further added, "The acquisition of Power-One Micro Systems provides a strong foothold to Amber's Electronics Division in the rapidly expanding sector of Battery Energy Storage Systems (BESS), Solar Inverters, EV chargers, and UPS."

Future Outlook

The company remains optimistic about its growth trajectory, particularly in the Electronics Division. With the acquisition of Power-One Micro Systems and the ongoing expansion in the PCB-A and Bare PCB segments, Amber Enterprises is well-positioned for its next phase of rapid scale-up.

The company's board has also approved an enabling resolution for raising funds up to ₹2,500.00 crore, subject to shareholder approval at the upcoming Annual General Meeting scheduled for August 11.

As Amber Enterprises continues to strengthen its market position through strategic acquisitions and organic growth, investors and industry watchers will be keenly observing the company's performance in the coming quarters.