2021-08-10 Amber Enterprises In.. Axis Direct

2866.75 3330.00 2866.75
(1.34%) 14.62 Buy

Result Update:Amber Enterp.

The company has witnessed faster-than-expected recovery post easing of lockdowns and steady improvement in consumer sentiments. We have reduced revenue estimates for FY22E by 3.4% while marginally tweaking our FY23 estimates and value Amber at 40x FY23 EPS of Rs 83.3 arriving at a target of Rs 3,330

2021-08-09 Amber Enterprises In.. Edelweiss

2888.95 3141.00 2888.95
(0.56%) 8.12 Buy 2021-05-27 Amber Enterprises In.. ICICI Securities Limited

2755.80 3130.00 2755.80
(5.42%) 7.74 Buy

Amber Enterprises India

EBITDA margin in Q4FY21 increased ~110 bps YoY to 8.8% led by savings in employee & other costs. Price hikes to the tune of 10-12% in Q4FY21 and increased revenue contribution of CMA helped restrict gross margin fall to 80 bps YoY. The management guided for further price hike (of 2-3%) and continued cost savings measures to protect future EBITDA margin. We build in improvement in EBITDA margin from FY23 onwards (to 8.8% vs. 7.3% in...

2021-05-26 Amber Enterprises In.. Axis Direct

2717.70 3290.00 2717.70
(6.90%) 13.25 Buy

Result Update:Amber Enterp.

We maintain a BUY rating on the stock and value it at 40x FY23E EPS of Rs 82.3 to arrive at the TP of Rs 3,290/share, implying an upside of 19%.

2021-05-25 Amber Enterprises In.. Edelweiss

2766.25 3046.00 2766.25
(5.02%) Target met Buy 2021-02-03 Amber Enterprises In.. Axis Direct

2748.55 3085.00 2748.55
(5.70%) Target met Buy

Result Update:Amber Enterp.

We have marginally tweaked our FY21E/FY22E/FY23E revenues estimates; we value Amber at 35x FY23E EPS of Rs 88.2 and arrive at the TP of Rs 3,085 (vs. Rs 2,800 earlier) Maintain BUY.

2021-02-02 Amber Enterprises In.. ICICI Securities Limited

2712.50 3025.00 2712.50
(7.10%) Target met Buy

Amber Enterprises India

On the CMA business front, the component business recorded a strong recovery due to addition of new clients and strong demand of non AC component business (i.e. component for washing machines and refrigerators). However, business recovery in Sidwal was slightly delayed (sales recovery was 64% vs. ~97% recovery in overall consolidated sales) owing to slow execution of orders from railways and metros. However, the company sees a strong recovery in Sidwal (with order book of | 400 crore) going forward, with railways & metros starting operations post ease in...

2021-02-02 Amber Enterprises In.. Edelweiss

2712.50 3267.00 2712.50
(7.10%) Target met Buy 2020-12-30 Amber Enterprises In.. Axis Direct

2379.45 2800.00 2379.45
(22.09%) Target met Buy

Company Update:Amber Enterp.

We continue to remain positive on the long term growth outlook and maintain a BUY with a revised price target of Rs 2800 (vs. Rs 2586 earlier).

2020-11-10 Amber Enterprises In.. Axis Direct

 

2186.60 2586.00 2186.60
(32.86%) Target met Buy

Result Update:Amber Enterp.

We have marginally tweaked our FY21E/FY22E/FY23E revenues estimates; we value Amber at 35x FY23E EPS of Rs 73.9 and arrive at the TP of Rs 2586 gives an upside of 18% from CMP.

2020-11-10 Amber Enterprises In.. ICICI Securities Limited 2186.60 2600.00 2186.60
(32.86%) Target met Buy

Amber Enterprises India

Ambers component and mobility business revenue recovery was faster at ~84% of pre-Covid level YoY. The recovery was largely led by strong demand of non-AC components due to strong pent up demand of consumer appliances. The RAC segment business recovery was delayed to lower volume offtake by key customers as their major focus remained on liquidation of dealer level inventory. As channel inventory reached normal...

2020-11-09 Amber Enterprises In.. Edelweiss 2186.60 2834.00 2186.60
(32.86%) Target met Buy

Amber Enterprises India Ltd | Q2FY21 Result Update

Amber reported an in-line set of numbers in Q2FY21, the fall in revenues was higher than the fall in the end RAC market as the inventory in the channel was higher than normal but has eased a bit.

2020-10-22 Amber Enterprises In.. Edelweiss

2316.35 2834.00 2316.35
(25.42%) Target met Buy 2020-10-20 Amber Enterprises In.. Axis Direct

2451.15 2584.00 2451.15
(18.52%) Target met Hold

Company Update:Amber Enterp.

We maintain a positive outlook on business prospects in the medium to long term. We have increased our FY22E/FY23E revenues estimates by 1.5%/2.1% & PAT by 2%/4.7% respectively. Given the sharp run in price in past few sessions, the TP of Rs 2584 gives an upside of 5% as we value Amber at 35x FY23E

2020-10-18 Amber Enterprises In.. ICICI Securities Limited

2180.65 2600.00 2180.65
(33.22%) Target met Buy 2020-10-08 Amber Enterprises In.. Dolat Capital 1954.65 1900.00 1954.65
(48.63%) Target met Sell 2020-08-11 Amber Enterprises In.. Edelweiss

1707.45 1717.00 1707.45
(70.15%) Target met Buy 2020-08-11 Amber Enterprises In.. ICICI Securities Limited

 

1707.45 1980.00 1707.45
(70.15%) Target met Buy

Amber Enterprises India

Consolidated revenue fell ~79% YoY mainly led by 81% and ~74% YoY fall in RAC and components and mobility business, respectively. RAC volume offtake declined ~81% YoY at ~2 lakh units during Q1FY21 mainly due to lockdown. However, retail demand for air conditioners improved in May & June 2020, especially from Tier 2 & Tier 3 cities. We believe RAC sales volume will recover from H2FY21 with ease in lockdown restrictions and...

2020-06-09 Amber Enterprises In.. ICICI Securities Limited

1444.85 1565.00 1444.85
(101.07%) Target met Hold

Amber Enterprises India

Amber reported strong RAC volume growth of ~43% YoY in FY20 led by customer addition, increase in wallet share from existing clients. Alongside, component, mobile business also posted strong 51% YoY growth supported by consolidation of Sidwal in FY20. While the company is confident of achieving scale (due to its market leadership position, changing strategy of customers to increase local sourcing) post Covid-19, we believe...

2020-06-01 Amber Enterprises In.. Edelweiss

1338.55 1500.00 1338.55
(117.04%) Target met Buy

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