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Amber Enterprises: Long runway for growth

The contract AC maker aims to grow faster than the industry average

August 12, 2022 / 01:34 PM IST
Amber Enterprises: Long runway for growth

Amber Enterprises Q4 net profit misses estimates. Amber Enterprises reported net profit for the fourth quarter that missed the average analyst estimate. Net profit for the quarter stood at Rs 57.22 crore, down 24% year on year against the estimates of Rs 117 crore. Revenue rose 21% from a year ago to Rs 1940 crore versus estimate of Rs2144 crore. The firm also approved raising Rs 500 crore via securities.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Rising mercury levels supported the quarterly performance of Amber Enterprises (CP: Rs 2,185, MCap: Rs 7,361 crore), helping it post double-digit growth across all segments. The company also managed to increase its operating margin despite cost headwinds. Buoyed by a healthy start to the new fiscal, the management expects to grow higher than the industry in FY23. In addition, valuations have regained sanity. Hence, Investors can keep it on their investment radar for the long haul. Quarterly result highlights Amber registered a...

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