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Amber Group expects to achieve USD 2 billion in revenue in the near term, supported by strong growth across its electronics, consumer durables, railway and defence businesses. The company, which reported consolidated revenue of INR 12,306.63 crore in FY2025-26, has commenced work on manufacturing facilities worth around INR 6,785 crore at the Yamuna Expressway Industrial Development Authority (YEIDA) in Uttar Pradesh. The investment includes India's first high-density interconnect (HDI) printed circuit board (PCB) and semiconductor substrate manufacturing facility through a joint venture with Korea Circuit, alongside a large air-conditioner and component manufacturing complex. The projects are expected to strengthen domestic electronics manufacturing, reduce import dependence and support the localisation of critical components.
Amber Group expects to reach the USD 2 billion revenue mark in the near term, driven by sustained growth in its electronics, consumer durables, railway and defence businesses, Executive Chairman and Chief Executive Officer Jasbir Singh said during the past week. The announcement coincided with the groundbreaking ceremony for manufacturing facilities worth approximately INR 6,785 crore at the Yamuna Expressway Industrial Development Authority (YEIDA) in Gautam Buddha Nagar, Uttar Pradesh.
The ceremony was attended by Uttar Pradesh Chief Minister Yogi Adityanath, Union Minister for Railways and Electronics & Information Technology Ashwini Vaishnaw, and Union Environment Minister Bhupender Yadav. Amber Group reported consolidated revenue of INR 12,306.63 crore, equivalent to around USD 1.3 billion, during FY2025-26.
The investment comprises two major projects. Through its joint venture, Ascent-K Circuit, Amber will establish a manufacturing facility for high-density interconnect (HDI) printed circuit boards (PCBs), flexible printed circuit boards (FPCBs) and semiconductor substrates. Simultaneously, Amber Enterprises will develop a 100-acre manufacturing complex in Sector 8 of YEIDA to produce room air-conditioners, copper clad laminates (CCLs) and other critical components, strengthening backward integration within India's consumer durables sector.
Ascent-K Circuit is a 70:30 joint venture between Amber Group and Korea Circuit. Singh said the facility would play an important role in reducing India's dependence on imported PCBs, noting that the country currently imports PCBs worth nearly INR 40,000 crore annually. Initially, the plant will cater to domestic demand from mobile phone and laptop manufacturers before expanding its focus to export markets. The project is being supported under the Central Government's Electronics Component Manufacturing Scheme (ECMS) and will also receive incentives from the Uttar Pradesh government.
Commenting on the company's business outlook, Singh said Amber's electronics division is currently growing at an annual rate of 40-45%, while its railway and defence business has returned to a growth trajectory of 30-35%. In contrast, the consumer durables segment continues to grow broadly in line with industry trends, with slower consumption demand, pressure on margins, modest volume growth and seasonal fluctuations affecting performance.
The company plans to finance the investments through a combination of internal accruals, debt and foreign direct investment from Korea Circuit. Singh said Amber expects to incur capital expenditure of around INR 1,200-1,300 crore during the current financial year, with a similar level of investment planned for the following year. Most of the expenditure will be directed towards electronics manufacturing, while significant investments in the railway and consumer durables businesses have already been completed.
Amber currently operates 33 manufacturing facilities across 11 states, with the YEIDA projects becoming its 34th manufacturing location. The company follows a strategy of establishing production facilities close to customer locations and industrial clusters to improve supply chain integration. While exports presently contribute only a small share of revenue, Singh said the company has already entered markets including the United States and the Middle East and expects exports to become a significant growth driver over the next three to five years as domestic manufacturing scale expands and production costs become more competitive.
Source - PTI
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