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What is the story about?
Jewar (Gautam Buddha Nagar): Contract manufacturer Amber Group expects to cross the $2 billion revenue mark in the near term, driven by strong growth across its electronics, consumer durables, railways and defence businesses, Executive Chairman and CEO Jasbir Singh said on Saturday.
The company, which reported consolidated revenue of ₹12,306.63 crore (around $1.3 billion) in FY26, held a groundbreaking ceremony for new manufacturing facilities in the Yamuna Expressway Industrial Development Authority (YEIDA) region, with a total proposed investment of about ₹6,785 crore.
Uttar Pradesh Chief Minister Yogi Adityanath, Union Railways and IT Minister Ashwini Vaishnaw, and Environment Minister Bhupender Yadav were present at the event.
The projects include a high-density interconnect (HDI) printed circuit board (PCB) and semiconductor substrate manufacturing unit through Amber's joint venture, Ascent-K Circuit, as well as an expanded air-conditioner and components manufacturing complex.
According to Singh, Amber's electronics business is currently growing at 40-45% annually, while its railways and defence division has returned to a 30-35% growth trajectory. However, the consumer durables business continues to grow broadly in line with industry trends and faces slow volume growth, margin pressures, subdued consumption demand and erratic seasonal patterns.
"We are very excited about the way we are building blocks, adding horizontal and vertical expansion on both volume and value sides," Singh said.
While declining to provide a formal timeline for the revenue milestone, Singh indicated that the target was within sight. "All three divisions are witnessing growth. I think very shortly we will reach that number," he said.
Ascent-K Circuit is a 70:30 joint venture with Korea Circuit and will manufacture HDI PCBs, flexible printed circuit boards (FPCBs) and semiconductor substrates. Amber Enterprises will also establish a 100-acre manufacturing facility in YEIDA's Sector 8 for room air-conditioners, copper-clad laminates (CCLs) and other critical components, strengthening localisation and backward integration.
"This is a landmark occasion for us. Currently, nearly ₹40,000 crore worth of PCBs are imported into the country. The larger purpose of this project is import substitution and, subsequently, exports," Singh said.
The facility, supported under the Centre's Electronics Component Manufacturing Scheme (ECMS) and backed by incentives from the Uttar Pradesh government, will initially cater to domestic demand from mobile phone and laptop manufacturers before targeting export markets.
The investments will be funded through a mix of internal accruals, debt and foreign direct investment from Korea Circuit. Amber plans capital expenditure of around ₹1,200-1,300 crore in FY27, with a similar level of spending expected next year. Most of the investment will be directed towards electronics manufacturing, while major capex requirements in its railways and consumer durables businesses have largely been completed.
Although exports currently contribute only a small portion of revenue, Amber has already entered markets such as the United States and the Middle East. Singh described exports as a medium- to long-term opportunity and said they are expected to grow meaningfully over the next three to five years as domestic scale improves.
Amber currently operates 33 manufacturing facilities across 11 states, with the YEIDA projects set to become its 34th manufacturing location.
Separately, Yogi Adityanath also laid the foundation stone for an integrated solar manufacturing facility by SAEL Industries in Jewar. The project, being developed through SAEL Solar P6 Pvt Ltd, will house a 5 GW solar cell and 5 GW solar module manufacturing complex and is expected to create around 5,000 direct and 15,000 indirect jobs. Upon completion, the facility will manufacture high-efficiency solar cells and TOPCon modules, further strengthening India's domestic renewable energy manufacturing ecosystem.
The company, which reported consolidated revenue of ₹12,306.63 crore (around $1.3 billion) in FY26, held a groundbreaking ceremony for new manufacturing facilities in the Yamuna Expressway Industrial Development Authority (YEIDA) region, with a total proposed investment of about ₹6,785 crore.
Uttar Pradesh Chief Minister Yogi Adityanath, Union Railways and IT Minister Ashwini Vaishnaw, and Environment Minister Bhupender Yadav were present at the event.
The projects include a high-density interconnect (HDI) printed circuit board (PCB) and semiconductor substrate manufacturing unit through Amber's joint venture, Ascent-K Circuit, as well as an expanded air-conditioner and components manufacturing complex.
According to Singh, Amber's electronics business is currently growing at 40-45% annually, while its railways and defence division has returned to a 30-35% growth trajectory. However, the consumer durables business continues to grow broadly in line with industry trends and faces slow volume growth, margin pressures, subdued consumption demand and erratic seasonal patterns.
"We are very excited about the way we are building blocks, adding horizontal and vertical expansion on both volume and value sides," Singh said.
While declining to provide a formal timeline for the revenue milestone, Singh indicated that the target was within sight. "All three divisions are witnessing growth. I think very shortly we will reach that number," he said.
Ascent-K Circuit is a 70:30 joint venture with Korea Circuit and will manufacture HDI PCBs, flexible printed circuit boards (FPCBs) and semiconductor substrates. Amber Enterprises will also establish a 100-acre manufacturing facility in YEIDA's Sector 8 for room air-conditioners, copper-clad laminates (CCLs) and other critical components, strengthening localisation and backward integration.
"This is a landmark occasion for us. Currently, nearly ₹40,000 crore worth of PCBs are imported into the country. The larger purpose of this project is import substitution and, subsequently, exports," Singh said.
The facility, supported under the Centre's Electronics Component Manufacturing Scheme (ECMS) and backed by incentives from the Uttar Pradesh government, will initially cater to domestic demand from mobile phone and laptop manufacturers before targeting export markets.
The investments will be funded through a mix of internal accruals, debt and foreign direct investment from Korea Circuit. Amber plans capital expenditure of around ₹1,200-1,300 crore in FY27, with a similar level of spending expected next year. Most of the investment will be directed towards electronics manufacturing, while major capex requirements in its railways and consumer durables businesses have largely been completed.
Although exports currently contribute only a small portion of revenue, Amber has already entered markets such as the United States and the Middle East. Singh described exports as a medium- to long-term opportunity and said they are expected to grow meaningfully over the next three to five years as domestic scale improves.
Amber currently operates 33 manufacturing facilities across 11 states, with the YEIDA projects set to become its 34th manufacturing location.
Separately, Yogi Adityanath also laid the foundation stone for an integrated solar manufacturing facility by SAEL Industries in Jewar. The project, being developed through SAEL Solar P6 Pvt Ltd, will house a 5 GW solar cell and 5 GW solar module manufacturing complex and is expected to create around 5,000 direct and 15,000 indirect jobs. Upon completion, the facility will manufacture high-efficiency solar cells and TOPCon modules, further strengthening India's domestic renewable energy manufacturing ecosystem.
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