The subsidiary of the listed company Amber Group, Ascent Circuits, announced that it plans to invest Rs 650 crore in establishing a printed circuit boards (PCBs) manufacturing unit in Hosur, Tamil Nadu. The company specified that this cutting-edge PCB facility will fortify local productionof vital parts as India found its presence in semiconductor and chip substrates.
“The new facility will employ advanced manufacturing technologies to produce a wide range of PCBs, from single-sided to complex multilayer and specialty circuits,” an Amber Group spokesperson mentioned in the report. “Further, this facility will also create a direct and indirect employment opportunity for more than 1,000 people in the state,” he added.
The factory will have the capability to produce up to 840,000 square meters per year once both phases of construction are completed. It will encounter the increasing requirements in India's automotive, telecom, industrial, defense, and aerospace industries.
In the quarter ending June 2024, Amber Group saw a 96% rise in standalone profit, amounting to Rs 44.31 crore. Income from operations increased by 45% compared to the previous year, reaching Rs 1,739.89 crore. In January, Amber Group purchased a 60% share of the south-Indian company Ascent Circuits Pvt Ltd, thereby turning it into a subsidiary of Amber Group.
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