As the world, particularly Asia grapples with the coronavirus issue, an Emkay note indicates that Amber Enterprises’ dependency on China for key imports is significant. Jasbir Singh, chairman & CEO of Amber Enterprises India Limited, however, brushed this aside in a chat with CNBC-TV18.
Singh said that the AC manufacturing company has enough inventory to last the storm.
“Out of 13 suppliers that Amber has in China, all of them have opened and workers have started coming to the factories and shipments have started moving which is a very positive note,” he added.
He further said that the company does not see any significant impact due to coronavirus on a consolidated basis too.
Talking about capacity utilisation, he said, “We are running on capacity utilisation of 70-80 percent depending on a seasonal basis and on the component side, in some cases, we are utilising about 65 percent and some at 80 percent.”
On growth target front, Singh said, “Large growth has come because of new customers being added and also, fortunately, room air-conditioning industry has witnessed about 18-20 percent of growth in first 9 months.”
“The trend continues in Q4 as well. There is a strong demand and the order book is very strong. So we are maintaining the same guidance as we guided earlier that whatever industry will do we will tag along with the industrial growth and we will try to outnumber the industry by 4-5 percent points,” added Singh.