Amber Enterp. Q1 FY27 Results (NSE: AMBER)
Signal: Steady quarter
The read
The operating trajectory improved in Q1FY27, with consolidated revenue up 12.7% YoY and EBITDA up 25.6% with a 95bps margin expansion to 9.2%, reversing the prior-quarter 7% margin; however, the thesis is clouded by PAT falling 78.6% to ₹2227 lakh because exceptional items, higher finance cost and depreciation overwhelmed operating gains.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,887.72 Cr | 12.7% | -6.3% |
| EBIT | ₹251.36 Cr | 11.9% | |
| Net profit | ₹22.27 Cr | -78.6% | |
| EPS | ₹6.34 | -79.3% | |
| EBIT margin | 9.2% |
P&L walk
Consolidated revenue increased 12.7% YoY to ₹3,88,772.45 lakh, while EBITDA rose 25.6% to ₹35,957.09 lakh and margin expanded to 9.2%; however, finance cost of ₹8,473.62 lakh, depreciation of ₹10,820.83 lakh and exceptional items drove PAT down 78.6% to ₹2,227 lakh.
Segments
Electronics was the key growth engine, with revenue up 28.3% YoY to ₹98483.49 lakh and segment result up 66.7% to ₹8144.38 lakh, while Consumer Durables remained the largest contributor at ₹280290.80 lakh of revenue and ₹21180.99 lakh of result.
Key positives
- Consolidated EBITDA grew 25.6% YoY to ₹35957.09 lakh versus revenue growth of 12.7%, with EBITDA margin expanding 95bps to 9.2%.
- Electronics revenue increased 28.3% YoY to ₹98483.49 lakh and Electronics segment result increased 66.7% to ₹8144.38 lakh, confirming the diversification engine is growing faster than the core Consumer Durables division.
- Segment assets increased 62.8% YoY to ₹1398459.62 lakh while depreciation rose 75.1% to ₹10820.83 lakh, a clean asset-base cross-check rather than an under-depreciation signal.
Key concerns
- Consolidated PAT fell 78.6% YoY to ₹2227 lakh despite EBITDA growth, making reported earnings quality substantially weaker than operating performance.
- Finance cost rose 37.2% YoY to ₹8473.62 lakh and depreciation rose 75.1% to ₹10820.83 lakh, indicating rising funding and capacity costs as the group expands.
- Standalone PAT declined 3.4% YoY to ₹6578 lakh while consolidated PAT fell 78.6%, showing that subsidiaries, associates, joint ventures and exceptional items materially dragged group earnings.
Earnings quality: includes other income and an exceptional item
Research and educational content only. Not investment advice.