Amber Enterprises India Ltd

- **YEIDA Expansion**: Total planned investment of INR 6,800 crores on 100 acres for 2 manufacturing facilities; split into INR 3,200 crores for Korea Circuits (KCC) and INR 3,600 crores balance over 4-5 years with incentives from central and UP government. - **Korea Circuits (KCC)**: First phase INR 1,200 crores capex with groundbreaking expected by March/April 2026, commercial production after 18 months. - **Shogini Investment**: INR 500 crores planned over 4-5 years with INR 55-60 crores capex planned for FY 2026. - **Hosur Expansion**: INR 700-800 crores capex in FY 2026 with trial production starting September 2026, mass production by January 2027. - **Pune Expansion**: Ongoing construction, expected to complete by March/April 2026 and start production in May 2026. - **Electronics Division**: Focus on backward integration, joint ventures for raw materials like CCL expected in 1-2 years. - **General Capex Outlook**: INR 800 crores capex in current year and INR 1,100-1,200 crores capex expected next year.

- Consumer Durable division is expected to grow 13% to 15% for the full year. - Room AC industry anticipated to grow volume-wise at 12% to 15% CAGR over next 4-5 years. - Post INR 4,000 per capita income milestone, AC industry growth could accelerate to 20%-25%. - Electronics division expects double-digit EBITDA margins in FY '27 with strong growth momentum. - Railway Subsystem and Defense division aims to double revenue over next 2 financial years. - Expansion in product portfolio and increased wallet share across divisions supports growth. - Commodity price impacts expected to normalize with price pass-through in 1-1.5 quarters. - Development of raw material component ecosystem in India expected in 3-4 years to support visibility. - Infrastructure and capacity investments totaling INR 6,800 crores planned over 4-5 years to drive growth.

- Electronics division is expected to achieve double-digit EBITDA margins by FY '27, supported by strong growth and high-value, margin-accretive product portfolio. - Consolidated revenue grew 29% over last year with quarterly operating EBITDA up 53%, indicating robust growth momentum. - Railway subsystem and defense division aims to double revenue over the next 2 financial years. - Consumer Durable division anticipates growth of 13% to 15% for the full year despite industry flattish outlook. - Margin expansion possibilities in Power-One and Unitronics businesses anticipated over 1 to 1.5 years due to backward integration and purchase leverage. - Net capex and government incentive schemes (ECMS/UP state) to support efficient capital deployment and eventual earnings accretion. - Strategic investments (e.g., Shogini, Korea Circuit JV) to broaden product range and enhance revenue streams. - Overall, the company projects sustained growth and margin improvement with optimistic EPS trajectory linked to operational expansion and acquisitions.

- Amber Enterprises' Railway Subsystems and Defense division currently holds a robust order book of over INR 2,600 crores. - The order book comprises approximately 46% from railways, 35% from metro projects, and around 10-20% expected from the defense segment in the coming years. - The company expects the defense vertical to contribute at least 20% to Sidwal's order book in the next 2 financial years. - Collaboration with Titagarh Firema provided business visibility worth about INR 700 crores for HVAC products and new offerings like doors and gangways. - Despite impairment in Shivalik investment, the order book remains strong and expanding. - With new product portfolios and strong government infrastructure focus, the company is optimistic about doubling the division's revenue over the next two financial years.

- ILJIN Electronics successfully concluded a fundraising of INR1,750 crores from marquee investors, strengthening the electronics division's balance sheet. - No specific mention of any new or upcoming fundraising through debt or equity was stated. - Finance cost increased marginally due to acquisitions (Shogini and increased stake in Unitronics) and inventory buildup but is expected to reduce in the current quarter. - No further details on fresh debt or equity raises were provided for the immediate future.