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Amber Enterprises Q3: Multiple catalysts stacking up

Components, electronics and mobility division report strong revenue growth, but profitability was dented by competitive intensity and cost challenges

February 15, 2023 / 10:46 AM IST
Amber Enterprises Q3: Multiple catalysts stacking up

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

Highlights Components, electronics and mobility division reported strong revenue growth RAC sales grew marginally in a seasonally weak quarter Profitability impacted by competitive intensity and cost challenges Subsidiaries likely to post strong growth in FY24 Nearing the completion of its new RAC plant Amber Enterprises, a maker of air conditioners, refrigerators, heating and ventilation equipment, reported a mixed Q3FY23 performance as revenue growth came in much ahead of expectations, but profitability lagged, owing to multiple headwinds. Amber delivered stellar revenue growth of 38 percent year-on-year (YoY)...

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