Amber Q2 FY23 Results Key Highlights
- Q2 Consolidated Revenue up 28%, Net Loss Rs.2 Cr
- EBITDA Margins 4.89% Vs 5.84% YoY
- Net Loss is due to increase in Interest cost from Rs.6 Cr last year to Rs.24 Cr due to increase in debt for capex
- Total Debt at present is Rs.1311 Cr and Cash & Investment Position is Rs.645 Cr
- Out of total Revenue of Rs.750 Cr – Amber – Rs.328 Cr and Subsidiaries Rs.422 Cr
- RAC & Components, Motors, Electronics & Mobility Division contributes 70%, 5%,17% and 8% respectively to the total revenue.
- RAC & Component Division
- Motor Division
- Electronic Division
- Mobility Division
- Other businesses have not seasonality issue as in RAC businesses
- Capex estimated for FY23 is Rs.600 Cr (earlier planned for Rs.400 Cr Only)
- Sluggish demand from July to Sep due to BEE rating change
- Q3 and Q4 will be better than Q2 due to better demand prospective and clients getting ready with heavy inventory for next season in advance
- PLI application is already approved in past quarter. There is no delay in threshold limit of investment and incremental sales. This Year PLI benefit will receive in next year.
- PLI benefit 1st Year Rs.15 Cr and next year Rs.30 Cr
- Higher debt due to capex and seasonality in business (have larger credit period from creditors and get paid during off season). Debt will normalize by year end
- Now, 30% of Total business is non-seasonal and margin accretive
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