Amber Enterprises expands into solar and battery energy storage with Power-One Micro Systems acquisition

Amber Enterprises India Limited (NSE: AMBER) has entered into definitive agreements through its electronics division, IL JIN Electronics India Pvt. Ltd., to acquire a majority stake in Power-One Micro Systems Pvt. Ltd., a Bengaluru-based player in solar inverters, battery energy storage systems (BESS), UPS systems, and EV chargers. The announcement was formally disclosed on June 28, 2025, in a regulatory filing pursuant to Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.

The acquisition signals a significant diversification move by the Gurugram-headquartered electronics and consumer durables manufacturer, enabling its deeper integration into India’s clean energy value chain. Through this strategic investment, Amber Enterprises aims to scale its electronic manufacturing services capabilities into the energy segment and capitalize on the country’s growing demand for decentralized power systems, electric mobility infrastructure, and domestic battery storage.

How does the acquisition of Power-One Micro Systems expand Amber’s renewable energy footprint?

Founded in 1998, Power-One Micro Systems began as a manufacturer of uninterruptible power supply (UPS) equipment but has since evolved into a full-spectrum energy systems company. Its portfolio today includes solar inverters ranging from 1 kW to 250 kW (spanning on-grid, off-grid, and hybrid solutions), battery energy storage systems, solar power plants, and both AC and DC electric vehicle chargers. The enterprise maintains active relationships with several major public sector clients, including NTPC, PGCIL, BHEL, BEML, and HAL, as well as key private-sector players such as Tata Group, Larsen & Toubro, Aditya Birla Group, and Renew Power.

With over 700,000 units shipped to date and a team of more than 400 employees, Power-One has built an extensive pan-India presence supported by regional service and sales hubs. Its client base spans industries such as heavy engineering, defense, railways, aviation, data centers, and residential infrastructure.

Amber Enterprises sees Power-One’s domain leadership as a strategic platform to enter India’s growing BESS and distributed solar infrastructure space. IL JIN Electronics, the electronics manufacturing services arm of Amber Enterprises, will anchor this integration. IL JIN currently serves diverse verticals including consumer durables, wearables, telecom, energy metering, automotive, and defense, offering end-to-end solutions in bare board and PCB assembly services.

Why is Amber Enterprises focusing on BESS and solar inverter markets as part of its diversification strategy?

Institutional investors tracking Amber Enterprises have noted the firm’s efforts to build a vertically integrated electronics ecosystem that aligns with India’s clean energy ambitions. The shift toward battery energy storage and hybrid solar inverters reflects India’s ongoing energy transformation and regulatory support for domestic manufacturing under the Production-Linked Incentive (PLI) schemes.

According to the company’s Executive Chairman and CEO Jasbir Singh, the acquisition will provide Amber’s electronic division “a strong foothold into the rapidly growing sector for Battery Energy Storage Systems (BESS), EV chargers, UPS, and solar inverters.” Singh added that the deal will enable the group to increase its local value addition, in line with the national vision of Atmanirbhar Bharat, by deepening domestic innovation and production capacity in the green energy electronics segment.

The acquisition also allows Amber to scale its operations across the value chain—from contract electronics manufacturing to end-user energy systems—helping it move closer to a systems integration model rather than staying solely as a component assembler.

What do Power-One’s promoters and leadership say about the Amber Group partnership?

In a joint statement, Power-One’s co-founders Rajesh and Harsha characterized the transaction as a “pivotal moment” in the company’s two-decade journey. They expressed optimism that the partnership with Amber Enterprises would unlock powerful synergies, drive operational scalability, and deliver greater value to employees, customers, and partners.

The promoters indicated they remain committed to the company’s long-term future and would collaborate closely with IL JIN to accelerate product innovation and expand national footprint in the renewable energy sector. Their continued involvement also signals confidence in Amber’s vision and execution capabilities post-acquisition.

How does this deal align with Amber Enterprises’ financial profile and capital allocation strategy?

Amber Enterprises India Limited is currently trading at ₹6,858.00 per share as of the June 27 market close, reflecting a 1.05% gain over the previous day’s closing price of ₹6,786.50. The stock hit an intraday high of ₹6,954.00 and low of ₹6,804.50, with a volume-weighted average price (VWAP) of ₹6,873.30. The stock has been part of the NIFTY 500 index and is widely tracked by mid-cap institutional investors.

The consumer electronics and industrial manufacturing firm commands a total market capitalization of approximately ₹23,236.91 crore, with a free float market cap of ₹14,007.35 crore. It has an adjusted P/E ratio of 82.54, reflecting premium valuation expectations tied to its diversification efforts and high-growth segments like electronics and green infrastructure.

Traded volume on June 27 stood at 3.25 lakh shares, with total traded value crossing ₹223.71 crore. The deliverable quantity ratio of 40.22% and annualized volatility at 59.42% suggest a moderately high-risk profile in line with mid-cap growth stocks. Analysts note that institutional investors may be reassessing Amber’s risk-reward dynamics as it shifts into capital-intensive, regulated clean energy domains.

What are the medium-term expectations from Amber’s solar and energy storage integration?

Amber’s expansion into solar inverters and BESS comes at a time when India is accelerating its renewable deployment targets under its National Solar Mission and aiming to add over 500 GW of non-fossil fuel power capacity by 2030. With frequent grid instability, rising residential solar installations, and increased demand for energy backup systems across industrial and urban regions, BESS and hybrid inverters are expected to experience double-digit annual growth over the next five years.

Analysts tracking the deal believe that Power-One’s differentiated product suite and deep client penetration offer a low-friction runway for Amber Enterprises to scale revenue in adjacent verticals. Integration synergies could help drive margin expansion for IL JIN through backward integration and reduced dependency on third-party component vendors.

From a capital market standpoint, Amber Enterprises may also seek to unlock value through product-level differentiation, export opportunities, or energy-sector-specific joint ventures. Investors are likely to monitor early execution metrics closely—particularly revenue contribution from Power-One in upcoming quarterly results—as a barometer for the broader diversification thesis.

What long-term value could Amber Enterprises unlock through renewable electronics and strategic M&A?

Amber’s strategic push into energy electronics aligns with global manufacturing trends where original equipment manufacturers (OEMs) are converging into solution providers. The acquisition of Power-One allows Amber to position itself not only as a supplier of printed circuit boards but as a long-term capability partner in India’s clean energy hardware ecosystem.

Experts suggest that this platform acquisition gives Amber a first-mover advantage in tapping multi-segment BESS applications—from EV infrastructure to utility-scale backup systems. In the long run, Amber could evolve into a key supplier in the broader energy transition value chain, especially if it continues to make targeted investments in adjacent technologies such as power electronics, thermal management systems, and grid connectivity interfaces.

Will this acquisition redefine Amber’s positioning within India’s evolving energy-tech landscape?

With India ramping up its green energy targets, Amber Enterprises’ majority acquisition of Power-One Micro Systems gives the electronics-focused firm a strategic lever to build relevance in a high-value, policy-aligned sector. This move reinforces the company’s intent to evolve from a B2B component assembler into a vertically integrated, multi-sector manufacturer in both consumer and industrial domains.

While integration and execution risks remain, the market response so far has been cautiously positive. Investors and institutional observers will now look toward Amber’s next earnings cycle for signals of revenue acceleration, R&D alignment, and operational synergies stemming from this acquisition. If successful, the deal could mark a blueprint for how legacy electronics players transition into India’s next-generation energy economy.