Moneycontrol PRO

Buy Amber Enterprises, target of Rs 2360: Sharekhan

Sharekhan is bullish on Amber Enterprises has recommended buy rating on the stock with a target price of Rs 2360 in its research report dated January 25, 2023.

January 27, 2023 / 10:51 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Amber Enterprises

Amber Enterprises’ (Amber’s) Q3FY2023 performance was mixed as component sales were robust but profitability was impacted due to high interest and depreciation. Structural changes in the manufacturing landscape of RAC would tilt the company’s revenue towards components rather than finished goods. The company is confident of maintaining 26-28% market share in manufacturing industry of RACs. Long-term growth would be driven by demand for RAC components, mobility, motor and electronics as well as traction in exports. Company guided for 30% growth in EBITDA in FY24E but refrained from giving margin guidance.


We maintain a Buy rating with a revised PT of Rs. 2,360. We believe, profitability should improve following ramp up in capacity utilization and once non-RAC components achieve scalability.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Amber Enterprises - 27 -01-2023 - khan

Broker Research
first published: Jan 27, 2023 10:51 pm