Amber Group acquires major stake in Ascent Circuits to enhance EMS portfolio

Amber Group, a prominent figure in India’s manufacturing sector, has recently acquired a 60% stake in Ascent Circuits Pvt. Ltd. This strategic move, facilitated through ILJIN Electronics, an Amber group subsidiary, marks a significant expansion in the Group’s Electronic Manufacturing Services (EMS) capabilities.

Ascent Circuits, a South India-based company, excels in the manufacturing of Printed Circuit Boards (PCBs), including single-sided, double-sided, multi-layered, and RF PCBs. Their diverse clientele encompasses major entities like ISRO, BEL, BHEL, and sectors ranging from automotive to telecom and consumer electronics, both domestically and globally. This acquisition by Amber Group is poised to strengthen its local value addition and enhance its backward integration in PCB assemblies.

Amber’s latest venture aligns with the Indian government’s ‘Make in India’ and ‘Atma Nirbhar Bharat’ initiatives, focusing on self-reliance and domestic manufacturing. It underscores the group’s commitment to enhancing its electronics (EMS) services across various sectors, including aerospace, defence, medical, telecom, consumer electronics, and automotive.

In response to the supportive policy environment for domestic manufacturing, Amber Group is set to expand its EMS portfolio further. By focusing on R&D and Printed Circuit Board Assembly (PCBA) manufacturing through the integration of bare PCB boards, Amber is strategically positioning itself for significant growth, especially with the EMS sector’s expected double-digit growth in the upcoming fiscal year.

Operating across three key business verticals – consumer durables, EMS, and railway subsystems & mobility – Amber Group’s diversification is noteworthy. Its consumer durables division includes room AC finished goods and components, while its EMS business caters to sectors like telecom, automotive, and consumer electronics. The group also plays a vital role in railway subsystems & mobility, offering integrated solutions in HVAC, doors, and gangways, primarily catering to Indian Railways, metros, and buses.

With the acquisition of a majority stake in Ascent Circuits, Amber Group reaffirms its status as a manufacturing powerhouse in India. This move not only enhances its position in the EMS sector but also contributes significantly to the growth and self-reliance of the Indian manufacturing industry.