The acquisition is set to enhance Amber’s presence in the EMS portfolio while simultaneously strengthening its local value addition and backward integration into passive components of PCB Assemblies.
The Amber Group has officially signed definitive agreements with Ascent Circuits Pvt. Ltd (“Ascent”) today, marking the acquisition of a substantial 60% stake in Ascent. This strategic acquisition has been executed through ILJIN Electronics, a subsidiary of the Amber Group. Ascent Circuits has established itself as a key player in the production of a wide range of Printed Circuit Boards (PCBs), including single-sided, double-sided, multi-layered, and RF PCBs. The company caters to prestigious clients such as ISRO, BEL, BHEL, as well as automotive, telecom, and both multinational and domestic consumer electronics companies.
With a diverse portfolio, Ascent Circuits provides solutions for various sectors, including Aerospace & Defence, Medical, Energy Solutions, Automotive, Telecom, Data Centers, Consumer Electronics, IT, Lighting, and more. Additionally, the company exports its products to global markets. The acquisition represents a strategic move by Amber Group to bolster its EMS portfolio. By enhancing local value addition and integrating backward into passive components of PCB Assemblies, Amber aligns with the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives promoted by the Government of India. This strategic step resonates with the group’s overarching strategy of reinforcing backward integration in the electronics (EMS) sector, catering to diverse applications such as Aerospace & Defence, Medical, Telecom, Consumer Electronics, and Automotive.
Encouraged by the supportive policy framework for domestic manufacturing established by the Indian Government, Amber Group envisions expanding its footprint in the electronics (EMS) domain. The company plans to fortify its Research and Development capabilities and bolster PCBA (Printed Circuit Board Assembly) manufacturing through the backward integration of Bare PCB Boards. This strategic positioning solidifies Amber’s status as a frontrunner in the electronics EMS sector, at a time when the industry anticipates double-digit growth in FY’25 and beyond.
The Amber Group, a diversified manufacturing powerhouse, operates across three core business verticals. These encompass consumer durables, EMS, and Railway subsystems and mobility. Within the consumer durables vertical, Amber manufactures room air conditioners (RAC) finished goods, room AC components, including motors, and non-room AC components. In the EMS sector, comprising ILJIN Electronics and EVER Electronics, the group delivers comprehensive solutions to the telecom, automotive, smart energy meter, consumer electronics and appliances, hearables, and wearables industries. Additionally, Amber plays a vital role in the Railway sub systems & mobility sector, providing integrated solutions to rolling stock customers for HVAC, Doors, Gangways, and Pantry Systems, serving entities like the Indian Railways, Metro, RRTS, buses, and contributing to the Defence segment as well.