Amber Group revenue target: USD 2 billion as YEIDA project expands PCB and AC manufacturing

Amber Group said it expected to reach USD 2 billion revenue in the near term. Executive Chairman and CEO Jasbir Singh linked the outlook to growth in electronics, railways and defence. Amber Group reported consolidated revenue of Rs 12,306.63 crore, about USD 1.3 billion, in FY26.

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The group held a ceremony on Saturday for new manufacturing facilities at YEIDA. The total proposed investment is about Rs 6,785 crore. Uttar Pradesh Chief Minister Yogi Adityanath attended the event. Union Minister of Railways & IT Ashwini Vaishnaw and Environment Minister Bhupender Yadav were also present.

Amber Group revenue target and business growth

Singh said Amber’s electronics unit was expanding at 40-45 per cent each year. Singh added the railway and defence division had returned to 30-35 per cent growth. Singh said consumer durables growth remained aligned with the wider market. Amber aimed to raise scale across divisions while managing pressure points.

Singh said consumer durables faced weak volumes and tighter profitability. Singh pointed to slower consumption and unpredictable seasonal demand. "We are very excited about the way we are building blocks, adding horizontal and vertical expansion on both volume and value sides, he said.\"

Asked about the timeline for USD 2 billion revenue, Singh declined formal guidance. Singh said all business lines were expanding. \"So all three divisions are witnessing growth. I think very shortly we will reach that number.\"

Amber Group YEIDA investment in electronics manufacturing

The YEIDA plan included an HDI PCB and semiconductor substrate unit. The project was to be built through Ascent-K Circuit. Amber Enterprises also planned an expanded air-conditioner and components complex. The electronics facility was designed to serve domestic demand first, then exports later.

Ascent-K Circuit is a 70:30 joint venture with the Korean Circuit. The venture will make High-Density Interconnect HDI Printed Circuit Boards PCBs. It will also produce Flexible Printed Circuit Boards FPCBs and Semiconductor Substrates. The unit is supported under the Centre’s Electronics Component Manufacturing Scheme ECMS.

Singh linked the project to reducing import dependence for printed circuit boards. \"This is a landmark occasion for us. Currently, nearly Rs 40,000 crore worth of PCBs are imported into the country. The larger purpose of this project is import substitution and, subsequently, exports, Singh added.\"

Singh said the build-out would happen in stages using multiple funding sources. Singh cited internal accruals, debt and equity as key routes. Singh also pointed to foreign direct investment from Korea Circuits. \"This is 70-30 JV. So FDI is going to come from Korea in this project and as far as Amber is concerned, that will be partly debt-funded and partly through our own internal accruals, he said.\"

Amber Group air-conditioner plant and CapEx plans

Amber Enterprises planned a 100-acre facility in Sector 8 at YEIDA. It will produce Room Air Conditioners RACs and Copper Clad Laminates CCL. The site will also make other critical components. The company said the goal was stronger backward integration and localisation in India’s consumer durables supply chain.

For the current financial year, Amber planned capital expenditure of Rs 1,200-1,300 crore. Singh said a similar spend was likely next year. \"Plant and machinery will come next year. But almost a similar kind of CapEx will be done next year as well, he said,\" while noting electronics would take most spending.

Singh said major capex needs in railways and consumer durables were largely finished. On overseas sales, Singh said exports were small at present. Amber had already entered the United States and Middle East. \"Exports are a medium- to long-term story for us. As domestic scale improves and disability factors come down, we expect exports to grow significantly over the next three to five years, he said.\"

Amber currently runs 33 manufacturing facilities across 11 states. The YEIDA projects are expected to become the 34th location. The company said it places plants near customers and key industrial clusters. It said the approach supports stronger supply-chain links and quicker fulfilment for clients.

Separately, Yogi Adityanath also launched another YEIDA-linked project in Jewar. The Chief Minister laid the foundation stone for an Integrated Solar Manufacturing Facility by SAEL Industries. It will be developed by SAEL Solar P6 Private Limited SSP6PL. The site is planned on about 200 acres in Sector 8.

The SAEL project is planned as a 5 GW solar cell and 5 GW solar module complex. It is expected to create about 5,000 direct and 15,000 indirect jobs. The facility is set to make high-efficiency solar cells and TOPCon modules. The plan aims to strengthen India’s solar manufacturing base.

With inputs from PTI