Powered by: Motilal Oswal

News

Buy Amber Enterprises India Ltd For Target Rs 2,297 - ICICI Securities RAC industry revival only by Q4FY24; EVA creation remains muted Unseasonal rains in North India in Apr’23 have impacted the revenue growth rates. However, we note Amber has gained market shares and reported revenue decline of just 6.8% vs industry revenue decline of 20-25% YoY. The strategy to focus on components business is working well. It has been able to partially arrest volume decline and expand margins. Considering elevated channel inventory, the RAC industry is expected to rev...
Buy Amber Enterprises India Ltd For Target Rs 2,297 - ICICI Securities
Buy Amber Enterprises India Ltd For Target Rs 2,297 - ICICI Securities
Source: ICICI Securities Ltd
7/08/2023 12:53:43 PM
Hold Amber Enterprises Ltd For Target Rs. : 2,300 - Emkay Global Financial Services Ltd Amber’s 1QFY24 numbers missed our topline estimates but was above our PAT estimates due to strong operating performance. Amber’s strategy of focusing on higher-margin components vs. RACs seems to have driven this beat on EBITDAM. Amber is witnessing increased traction in its mobility division, with a large order win expected to further boost the order book, as it looks to double this business in 2-3 years. While unseasonal rains is expected to cap the industry’s volume growt...
Hold Amber Enterprises Ltd For Target Rs. : 2,300 - Emkay Global Financial Services Ltd
Hold Amber Enterprises Ltd For Target Rs. : 2,300 - Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
31/07/2023 2:53:49 PM
Buy Amber Enterprises Ltd For Target Rs. 2,929 - Yes Securities Ltd Our interaction with management of the company suggest Amber is gradually transforming into an air-conditioning solutions provider, thereby improving its wallet share from brands that have or are in process of setting up captive manufacturing capabilities. Amber is expected to outperform the industry as i) Completed reliability testing for critical electronic/mechanical components for RAC and is also winning orders ii) Acquired capabilities and approvals for Railways, which is aggressively in...
Buy Amber Enterprises Ltd For Target Rs. 2,929 - Yes Securities Ltd
Buy Amber Enterprises Ltd For Target Rs. 2,929 - Yes Securities Ltd
Source: Yes Securities Ltd
11/07/2023 11:16:20 AM
Buy Amber Enterprises Ltd For Target Rs. 2,614 - Yes Securities Our interaction with management of the company suggest Amber is gradually transforming into an air-conditioning solutions provider, thereby improving its wallet share from brands that have or are in process of setting up captive manufacturing capabilities. Amber is expected to outperform the industry as i) Completed reliability testing for critical electronic/mechanical components for RAC and is also winning orders ii) Acquired capabilities and approvals for Railways, which is aggressively in...
Buy Amber Enterprises Ltd For Target Rs. 2,614 - Yes Securities
Buy Amber Enterprises Ltd For Target Rs. 2,614 - Yes Securities
Source: Yes Securities Ltd
10/07/2023 2:51:33 PM
Buy Amber Enterprises Ltd For Target Rs.2,614 - Yes Securities Wallet share continues to increase; maintain BUY Result Synopsis   AMBER delivered better than expected revenue growth while missing the margin estimates. Business from new customers has resulted in higher-than-expected revenue growth. There was strong demand across the business segments with subsidiaries faring better. Growth in subsidiaries was enhanced by new customer additions and increase in wallet share from the existing customers. The company’s market share in RAC a...
Buy Amber Enterprises Ltd For Target Rs.2,614 - Yes Securities
Buy Amber Enterprises Ltd For Target Rs.2,614 - Yes Securities
Source: Yes Securities Ltd
30/05/2023 3:19:59 PM
Buy Amber Enterprises Ltd For Target Rs.2,564 - Yes Securities Customer addition in new products category to drive growth; maintain BUY Result Synopsis AMBER delivered better than expected revenue growth while missing the margin estimates on back of higher raw material expenses which saw an increase of 1.25% and change in product mix. RAC demand was subdued for the quarter as which resulted in low secondary sales and some of the brands left with higher?than?expected inventory. On the components front, its electronics division has registered strong ...
Buy Amber Enterprises Ltd For Target Rs.2,564 - Yes Securities
Buy Amber Enterprises Ltd For Target Rs.2,564 - Yes Securities
Source: Yes Securities Ltd
6/03/2023 12:40:41 PM
Buy Amber Enterprises India Ltd For Target Rs 2,110 - ICICI Securities Strong revenue growth but RoCE remains below Cost of Capital While Amber continues to report strong growth (38.4% revenue growth YoY in Q3FY23), we note the margins and RoCE continue to be weaker i.e. less than cost of capital. With aggressive capex at Sri city as well as Chennai, we model the FCF to remain negative in FY23 too. Hence, while the revenue growth remains strong, the value creation is likely to be lower, in our view. The FCF was negative in all years from FY18-22. The average ...
Buy Amber Enterprises India Ltd For Target Rs 2,110 - ICICI Securities
Buy Amber Enterprises India Ltd For Target Rs 2,110 - ICICI Securities
Source: ICICI Securities Ltd
26/01/2023 12:12:36 PM
Buy Amber Enterprises Ltd For Target Rs.2614 - Yes Securities Strong growth opportunities ahead; maintain BUY Result Synopsis AMBER delivered marginally better than expected revenue growth while missing the margin estimates on back of higher operating expenses which were marred by forex loss to the tune of Rs66mn. RAC industry was subdued for the quarter as there was some de?stocking by the channel owing to change in BEE rating and higher than expected rainfall in north impacted secondary sales. On the components front, its electronics division ha...
Buy Amber Enterprises Ltd For Target Rs.2614 - Yes Securities
Buy Amber Enterprises Ltd For Target Rs.2614 - Yes Securities
Source: Yes Securities Ltd
25/10/2022 11:23:40 AM
Diwali Fundamental Muhurat Picks By Angel One Federal Bank * Federal bank is one of India's largest old generation private sector banks. At the end of Q2 FY2023 the bank had advances of Rs. 1.61 lakh cr. And deposits of Rs 1.89 lakh cr. The bank predominantly has a secured lending book which helped limit asset quality issues during the Covid 19 pandemic. * Federal Bank has posted a good set of numbers for Q2FY23 as NII, and Advances increased by 19.1%/19.9% YoY. Provisioning for the quarter was up by mere 9% YoY because of whic...
Diwali Fundamental Muhurat Picks By Angel One
Diwali Fundamental Muhurat Picks By Angel One
Source: Angel One Ltd
22/10/2022 2:06:16 PM
Buy Amber Enterprises Ltd For Target Rs.2415- ICICI Direct EBITDA margin pressure continues…   About the stock: Amber is a leading solution provider for air conditioner OEM/ODM industry in India. * The company has a product portfolio including RACs, RAC components and other non AC components * Derives ~50% of its revenues from RACs and the rest from components and mobility applications   Q1FY23 Results: Strong topline growth; higher input cost drags margin. * Favourable base and strong demand for cooling products...
Buy Amber Enterprises Ltd For Target Rs.2415- ICICI Direct
Buy Amber Enterprises Ltd For Target Rs.2415- ICICI Direct
Source: ICICI Direct
11/08/2022 5:26:30 PM
Hold Amber Enterprises Ltd For Target Rs.2,350 - Emkay Global Time is not yet ripe for an upgrade * We are revising our forecasts for Amber again by 1) lowering FY23-25 RAC volume estimates by 6-9%, 2) reducing export revenue assumptions for CBUs from FY24 and beyond and 3) tweaking margins by 15-20bps with a higher cut for FY23. * We believe that Amber’s outperformance vs. the industry would be limited going forward, unlike in the past. Elongated approval timelines and potential rise in competition from Chinese players could also restrict f...
Hold Amber Enterprises Ltd For Target Rs.2,350 - Emkay Global
Hold Amber Enterprises Ltd For Target Rs.2,350 - Emkay Global
Source: Emkay Global Financial Services Ltd
27/06/2022 12:20:07 PM
Add Amber Enterprises Ltd For Target Rs.3,597 - Yes Securities Structural growth drivers intact despite 4Q miss; maintain ADD given limited upside Result Synopsis AMBER’s Q4 performance was lower than expected as RAC volumes were impacted due to supply chain issues emerging on account of lockdowns in China and lesser ordering from brands as they wanted to clear existing inventory before implementation of new BEE ratings. Average realization trended lower as there was change in business mix towards IDU and declining share of window ACs. Compon...
Add Amber Enterprises Ltd For Target Rs.3,597 - Yes Securities
Add Amber Enterprises Ltd For Target Rs.3,597 - Yes Securities
Source: Yes Securities Ltd
17/05/2022 11:52:23 AM
Amber Enterprises India hits rock bottom on reporting 22% fall in Q4 consolidated net profit Amber Enterprises India is currently trading at its lower circuit limit of Rs. 2704.90, down by 671.55 points or 19.89% from its previous closing of Rs. 3376.45 on the BSE. The scrip opened at Rs. 3211.00 and has touched a high and low of Rs. 3211.00 and Rs. 2701.20 respectively. So far 34297 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4023.65 on 02-May-2022 and a 52 week low of Rs. 2685.00 on 26-May-2021. ...
Amber Enterprises India hits rock bottom on reporting 22% fall in Q4 consolidated net profit
Amber Enterprises India hits rock bottom on reporting 22% fall in Q4 consolidated net profit
Source: Accord Fintech
16/05/2022 3:51:38 PM
Buy Amber Enterprises Ltd For Target Rs.3,700 - JM Financial Services Subdued performance given industry level challenges Amber 4QFY22 results were missed estimates. Net sales were 13% below estimates (INR 19.4n; +21% YoY), while EBITDA was 30% below estimates (INR 1.2bn; -11% YoY). Management highlighted that miss in volumes and realisations were on account of supply chain disruption, adverse product mix and lag in passing on price hike to customers. Going forward, company intends to further gain market share (26.5% share in RAC and components) given a) ram...
Buy Amber Enterprises Ltd For Target Rs.3,700 - JM Financial Services
Buy Amber Enterprises Ltd For Target Rs.3,700 - JM Financial Services
Source: JM Financial Services Ltd
16/05/2022 12:41:13 PM
Hold Amber Enterprises India Ltd For Target Rs. 3,434 - ICICI Securities RoI accretive acquisition of Pravartaka Acquisition of Pravartaka brings injection moulding capability for small components and relationship with new customers. Pravartaka did Rs620mn in sales in FY21, and was acquired at EV/EBITDA of ~6.9x on FY21 EBITDA. It has two manufacturing facilities in North India. Promoter of Pravartaka will run the business as MD. At current capacity levels, the revenue of the company can be more than doubled to Rs130-140mn (net asset turnover of ~6x). We believ...
Hold Amber Enterprises India Ltd For Target Rs. 3,434 - ICICI Securities
Hold Amber Enterprises India Ltd For Target Rs. 3,434 - ICICI Securities
Source: ICICI Securities Ltd
22/02/2022 2:43:57 PM
Buy Amber Enterprises Ltd For Target Rs.3,641 - Yes Securities Well poised for next phase of growth in both RAC and components; maintain BUY Our view RAC industry is seeing strong traction post easing of lockdown conditions with industry expected to reach pre‐Covid levels of 6.5mn‐6.8mn units in FY22. Amber is expected to grow 400‐500bps faster than the industry as it has been consistently adding new customers and increasing wallet share from existing customers. Amber has been able to pass on increased commodity prices which has been heartening. Ca...
Buy Amber Enterprises Ltd For Target Rs.3,641 - Yes Securities
Buy Amber Enterprises Ltd For Target Rs.3,641 - Yes Securities
Source: Yes Securities Ltd
2/11/2021 10:30:31 AM
Buy Amber Enterprises Ltd For Target Rs.3365 - ICICI Direct Strong recovery amid challenging period… About the stock: Amber is a leading solution provider for air conditioner OEM/ODM industry in India. * The company has a product portfolio including RACs, RAC components and other non AC components * Derives ~62% of its revenues from RACs and the rest from components and mobility applications   Q1FY22 Results: Amber reported a strong revival despite supply disruption and lower volume offtake. * Revenue jumped to ~| 708 cro...
Buy Amber Enterprises Ltd For Target Rs.3365 - ICICI Direct
Buy Amber Enterprises Ltd For Target Rs.3365 - ICICI Direct
Source: ICICI Direct
30/09/2021 11:26:10 AM
Hold Amber Enterprises Ltd For Target Rs.2,790 - Emkay Global Covid disrupts another summer season * Amber reported a weak quarter with a revenue/EBITDA miss of 13%/15%. However, gross margins surprised positively with 91bps/64bps qoq/yoy expansion, driven by the healthy performance of subsidiaries. EBITDA was impacted by ESOP charge of Rs33mn. * RAC Volumes were up 139% yoy but down 59% qoq. The realizations improved 19% yoy, aided by a favorable product mix. The Components and Mobility application business saw a qoq revenue decline of 60%. Sidwa...
Hold Amber Enterprises Ltd For Target Rs.2,790 - Emkay Global
Hold Amber Enterprises Ltd For Target Rs.2,790 - Emkay Global
Source: Emkay Global Financial Services Ltd
18/08/2021 9:43:40 AM
Buy Amber Enterprises Ltd : Strong growth levers ahead; upgrade to BUY - Yes Securities Buy Amber Enterprises Ltd For Target Rs.3,443 Strong growth levers ahead; upgrade to BUY Valuation and view – Strong growth momentum in first fortnight of April was impacted by lockdown across various regions on the back of Covid second wave. This has resulted in lower than expected volumes in RAC. Post easing of lockdown, demand is returning to normalcy faster than expected. Channel inventory is expected to be liquidated by September. Amber has firmed up plans to apply in PLI sch...
Buy Amber Enterprises Ltd : Strong growth levers ahead; upgrade to BUY - Yes Securities
Buy Amber Enterprises Ltd : Strong growth levers ahead; upgrade to BUY - Yes Securities
Source: Yes Securities Ltd
10/08/2021 10:35:29 AM
Buy Amber Enterprises India Ltd For Target Rs. 3130 - ICICI Direct Focus on long term growth drivers… Amber Enterprises witnessed a strong sales recovery in H2FY21 led by pent up demand for room air conditioners (RAC) and new customer additions in the component business. Despite a significant loss of sales in Q1, the company reached 75% of its pre-Covid level revenue in FY21. Amber’s strategy for long term growth remains intact. It is focusing on 1) capacity building to get PLI benefits, 2) addition of new customers in FY22-23, 3) looking for...
Buy Amber Enterprises India Ltd For Target Rs. 3130 - ICICI Direct
Buy Amber Enterprises India Ltd For Target Rs. 3130 - ICICI Direct
Source: ICICI Direct
11/06/2021 12:34:21 PM
Hold Amber Enterprises India Ltd For Target Rs. 2890 - ARETE Securities On a consolidated basis, Revenue rose22% YoY to INR 15984mnwith RACs contributing 60% of the revenue & Components and Mobility business forming the rest. Channel inventory during the quarter returned to normalcy. Gross margins dropped 80bps (led by unprecedented increase in input costs) to 15.9% however EBITDAM rose 100bps to 8.8%. Though in % terms, gross margins reflect drop, in terms of per unit of RAC unit sold the company has maintained gross margins by passing on price increase to t...
Hold Amber Enterprises India Ltd For Target Rs. 2890 - ARETE Securities
Hold Amber Enterprises India Ltd For Target Rs. 2890 - ARETE Securities
Source: ARETE Securities Ltd
11/06/2021 9:26:30 AM
Hold Amber Enterprises India Ltd For Target Rs.2,905 - SPA Securities On a consolidated basis, Revenue dropped 3% YoY to INR 7647mnwith RACs contributing 54% of the revenue & Components and Mobility business forming the rest. Gross margins & EBITDAM improved 140bps & 60bps to 18.5% & 8.2% respectively. PBT & PAT rose 63% & 12% to INR 399mn & 279mn respectively. Revenue from subsidiaries dropped 15% YoY to INR 1883mn. On a standalone basis, Revenue remained flattish at INR 5764mn. 5.43 lac units of RACs were sold during the quarter co...
Hold Amber Enterprises India Ltd For Target Rs.2,905 - SPA Securities
Hold Amber Enterprises India Ltd For Target Rs.2,905 - SPA Securities
Source: SPA Securities Ltd
10/02/2021 10:00:12 AM
Buy Amber Enterprises India Ltd For Target Rs.3,025 - ICICI Direct Strong recovery amid demand revival… In Q3FY21, Amber Enterprises reported a strong topline recovery at 97% compared to its pre-Covid sales in Q3FY20. The recovery was led by its component and mobility application (CMA) business, which reported almost 100% recovery in Q3FY21 YoY (up 35% QoQ). Further, the revenue contribution of CMA division in topline also increased to 46% in Q3FY21 from 45% in Q3FY20 (50% for 9MFY21 vs. 40% in 9MFY20). The rising contribution bodes well for overa...
Buy Amber Enterprises India Ltd For Target Rs.3,025 - ICICI Direct
Buy Amber Enterprises India Ltd For Target Rs.3,025 - ICICI Direct
Source: ICICI Direct
3/02/2021 11:39:21 AM