Amber Ent's arm inks deal to acquire majority stake in PCB-maker Ascent Circuits

Ascent Circuits is one of the leading manufacturers of printed circuit boards (PCBs) catering to a wide range of industries including aerospace & defence, medical, energy solutions, automotive, telecom, data centres, consumer electronics, IT, lighting etc. Ascent manufactures single sided, double sided, multi-layered and RF PCBs. Ascent also exports its produce to global markets. The company had recorded a turnover of Rs 278.46 crore for FY 2022-23.

?Amber as a group and Ascent are amongst the leading players in their respective segments. The parties expect to leverage on each other?s technical expertise and customer reach to further grow the company by deepening, diversifying into backward integration of passive electronic components and expanding into new customer base and product portfolio,? AmberEnt said in a statement.

Amber Enterprises India is a market leader in Indian room air conditioner (RAC) industry and air conditioning industry for mobility application such as railways, metros, buses, etc. The company has diversified portfolio which includes RACs, RAC components and air conditioning solutions for railways, metro's, defence, bus & commercial segment. The company has multiple manufacturing facilities across various states in India, strategically located close to customers enabling faster turnaround.

The company reported net loss of Rs 6.94 crore in Q2 FY24 as compared with Rs 2.98 crore in Q2 FY23. Revenue from operations jumped 23.54% YoY to Rs 927.06 crore in Q2 FY24.

The scrip rose 0.64% to currently trade at Rs 3123.80 on the BSE.

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