{"id":4611,"date":"2024-10-23T15:33:37","date_gmt":"2024-10-23T10:03:37","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=4611"},"modified":"2024-10-23T15:33:38","modified_gmt":"2024-10-23T10:03:38","slug":"amber-enterprises-shares-surge-as-india-set-to-buy-1-30-crore-acs-this-year","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/amber-enterprises-shares-surge-as-india-set-to-buy-1-30-crore-acs-this-year\/","title":{"rendered":"Amber Enterprises Shares Surge as India Set to Buy 1.30 Crore ACs This Year"},"content":{"rendered":"\n<p>Amber Enterprises\u2019 shares soared 14% on October 23, driven by strong Q2 results and optimistic projections for India&#8217;s air conditioning market. The prolonged summer in 2024 has significantly boosted demand, resulting in a consolidated revenue growth of 82% year-on-year to Rs 1,684.70 crore and a net profit of Rs 20.96 crore. The company&#8217;s performance was further bolstered by a two-fold increase in the Residential Air Conditioner (RAC) segment due to low inventories and extended summer weather. This demand surge has set the stage for what Amber&#8217;s management describes as the best year yet for India&#8217;s AC industry.<\/p>\n\n\n\n<p>The company expects the RAC industry to grow 30 per cent this year to sales of 1.30 crore units, up from 95 lakh to a crore units sold last year. Amber plans to outperform the growth on the back of its strengthened order book and entry into high-margin segments like Light Commercial ACs. Amber is also working at increasing localization efforts in the PCB market, which by FY30 is expected to reach Rs 80,000 crore, a market 85% dependent on imports and thereby providing ample opportunities for domestic players such as Amber.<\/p>\n\n\n\n<p>Management at Amber, though, remains equally bullish about future growth in other segments: &#8220;The electronics business has reported a 98 percent year-on-year increase in revenues to Rs 492 crore. The growth has been further bolstered by orders from the defense sector and anti-dumping duties on Chinese PCBs. The company has also begun work on a new plant in Tamil Nadu to expand capacity and has entered a joint venture agreement with a South Korean company to manufacture PCBs, with a buyback agreement in place for two years.<\/p>\n\n\n\n<p><em>Do&nbsp;you have a news tip for Lakshmishree reporters? Please email us at&nbsp;<\/em>media@lakshmishree.com<\/p>\n\n\n\n<p><sub><sup>Source:\u00a0<a href=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/amber-enterprises-sees-india-buying-over-one-crore-ac-this-year-12848805.html\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/amber-enterprises-sees-india-buying-over-one-crore-ac-this-year-12848805.html\" rel=\"noreferrer noopener\">Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amber Enterprises\u2019 shares soared 14% on October 23, driven by strong Q2 results and optimistic projections for India&#8217;s air conditioning market. The prolonged summer in 2024 has significantly boosted demand, resulting in a consolidated revenue growth of 82% year-on-year to Rs 1,684.70 crore and a net profit of Rs 20.96 crore. The company&#8217;s performance was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[563],"class_list":["post-4611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-amber-enterprises"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=4611"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4611\/revisions"}],"predecessor-version":[{"id":4613,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4611\/revisions\/4613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/4612"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=4611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=4611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=4611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}