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India's largest contract manufacturer (ODM/OEM) of air conditioners and components for brands like LG, Voltas and Daikin.
India's largest contract manufacturer (ODM/OEM) of air conditioners and components for brands like LG, Voltas and Daikin.
Builds air conditioners to brands' designs and specifications, and the brands sell them, so sales follow those brands' orders, which peak ahead of the Indian summer. It has widened beyond room air conditioners into components, circuit boards and railway products, which add value per sale.
In one line: India's Foxconn for room air conditioners.
Moat: narrow (scale, customer qualification, cost advantage). Largest-scale AC contract manufacturer in India, deeply qualified with major brand customers.
Headquarters: Rajpura, India · Founded: 1990 · Employees: 21,000
Size Amber Enterprises India (AMBER.NS) is an India Industrials company (Industrial Machinery) with a market value of $2.39B, the 338th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹6,403 on 6 Nov 2026.
Performance Over six months the shares fell 27.6%, against -20.6% for the median peer and 0.0% for the India market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 14.6% over the last twelve months (peer median +9.8%); the operating margin is 5.1% (peer median 7.9%).
Valuation It trades at 59.6× forward earnings against a peer median of 23.4× (2nd most expensive of 18).
Capital Return on invested capital runs 4.1 points below its cost of capital (12.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹126B | ₹121B | ₹99.1B | ₹66.9B | ₹68.9B |
| Revenue growth | — | +22% | +48% | -3% | — |
| Gross profit | ₹15.3B | ₹8.69B | ₹7.27B | ₹4.51B | ₹4.30B |
| EBITDA | ₹10.1B | ₹8.83B | ₹7.31B | ₹4.68B | ₹4.16B |
| Net income | ₹960M | ₹1.78B | ₹2.44B | ₹1.33B | ₹1.57B |
| Free cash flow | n/a | -₹12.5B | -₹155M | ₹4.36B | -₹4.20B |
| Capital expenditure | n/a | ₹12.9B | ₹5.75B | ₹4.12B | ₹6.62B |
| Total debt | n/a | ₹27.0B | ₹20.6B | ₹15.4B | ₹14.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Amber Enterprises India AMBER.NS | $2.39B | -28% | +15% | 5% | 59.6× | n/a |
| Dixon Technologies (India) DIXON.NS | $8.16B | +14% | +21% | 2% | 76.9× | 48.0% |
| PG Electroplast PGEL.NS | $1.65B | +2% | +21% | 6% | 49.3× | n/a |
| Kaynes Technology India KAYNES.NS | $2.30B | -26% | +35% | 12% | 55.5× | n/a |
| Syrma SGS Technology SYRMA.NS | $2.97B | +33% | +62% | 10% | 63.2× | 33.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AMBER.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.5% | -6.6% | 11th highest of 21 |
| 6-month return | -27.6% | -20.6% | 9th lowest of 21 |
| Distance from 52-week high | -28.6% | -42.3% | 5th highest of 21 |
| Revenue growth (TTM) | +14.6% | +9.8% | 9th highest of 21 |
| Operating margin | 5.1% | 7.9% | 5th lowest of 21 |
| Forward P/E | 59.6× | 23.4× | 2nd most expensive of 18 |
| ROIC minus cost of capital | -4.1 pp | -0.2 pp | 8th lowest of 21 |
| EV / EBITDA | 22.4× | 11.5× | 5th most expensive of 12 |
| Net debt / EBITDA | 1.4× | -0.0× | 4th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Amber Enterprises India AMBER.NS | India | $2.39B | -28% | +15% | 5% | 59.6× | n/a | n/a |
| Yantai Eddie Precision Machinery 603638.SS | China | $2.38B | -22% | +35% | 16% | 28.8× | 15.1% | +7.3% |
| Wonik IPS 240810.KS | South Korea | $2.39B | -43% | +9% | 8% | 14.7× | 29.4% | -3.6% |
| ROBOTIS 108490.KS | South Korea | $2.37B | -30% | +52% | -16% | n/a | n/a | n/a |
| Munters MTRS.ST | Sweden | $2.40B | -34% | 0% | 9% | 26.2× | 12.4% | +16.0% |
| Doosan Robotics 454910.KS | South Korea | $2.41B | -54% | +97% | -91% | n/a | n/a | n/a |
| Japan Steel Works 5631.T | Japan | $2.41B | -46% | -1% | 10% | 17.0× | n/a | n/a |
| Organo 6368.T | Japan | $2.36B | -14% | +10% | 19% | 12.1× | 12.8% | +12.0% |
| Timken India TIMKEN.NS | India | $2.43B | -12% | +19% | 16% | 46.1× | 36.2% | +19.8% |
| Chengdu Xuguang Electronics 600353.SS | China | $2.32B | +8% | +13% | 7% | 64.5× | 53.1% | +12.8% |
| Chervon 2285.HK | Hong Kong | $2.32B | +103% | -6% | 8% | 15.7× | 12.1% | +6.4% |
| Zhuhai Bojay Electronics 002975.SZ | China | $2.32B | -13% | +71% | 18% | 41.2× | 34.2% | +6.0% |
| Guangdong Dongfang Precision Science & Technology 002611.SZ | China | $2.50B | -19% | -16% | 8% | 20.2× | 17.8% | +12.4% |
| Kalmar KALMAR.HE | Finland | $2.27B | -7% | +7% | 12% | 13.6× | -4.8% | -3.6% |
| All Ring Tech 6187.TWO | Taiwan | $2.52B | -36% | +1% | 29% | 25.0× | 26.4% | +28.9% |
| Dmg Mori 6141.T | Japan | $2.53B | -13% | +20% | 4% | 23.5× | 12.9% | +9.4% |
| China Baoan 000009.SZ | China | $2.56B | -23% | +26% | 7% | n/a | n/a | n/a |
| CECO Environmental CECO | United States | $2.56B | -47% | +38% | 6% | 16.5× | n/a | n/a |
| Wuxi Autowell Technology 688516.SS | China | $2.22B | -42% | -14% | 8% | 23.4× | n/a | n/a |
| Kunshan Kersen Science & Technology 603626.SS | China | $2.22B | +7% | -24% | -22% | 31.3× | n/a | n/a |
| Jungheinrich AG Pref JUN3.DE | Germany | $2.58B | -12% | +2% | 5% | 10.3× | -0.4% | +7.6% |