Sharekhan's research report on Amber Enterprises
Amber Enterprises Limited (Amber) expects Q1 and FY2023 to be healthy as industry growth is expected at over 30% y-o-y and the company aims to gain 100 bps in market share. Long-term growth will be driven by sectoral tailwinds such as increasing affordability, rising temperature, PLI scheme benefits, and reducing dependency on imports in the air conditioner industry. Amber would strengthen its market share in the long term through backward integration, which would enhance its product offerings, entry into new categories, and focus on growing exports to combat the sector’s seasonality.
The stock has corrected sharply by ~35% in the recent past; we believe near-term margin pressure and global headwinds are largely factored in the current valuation. Therefore, current price levels indicate a good entry point for long-term investors. We maintain Buy with a revised PT of Rs. 3,075.
At 15:17 hrs Amber Enterprises India Limited was quoting at Rs 2,185.00, up Rs 74.85, or 3.55 percent.
It has touched an intraday high of Rs 2,185.15 and an intraday low of Rs 2,129.45.
It was trading with volumes of 2,724 shares, compared to its thirty day average of 10,199 shares, a decrease of -73.29 percent.
In the previous trading session, the share closed up 0.75 percent or Rs 15.70 at Rs 2,110.15.
The share touched its 52-week high Rs 4,023.65 and 52-week low Rs 2,029.80 on 02 May, 2022 and 20 June, 2022, respectively.
Currently, it is trading 45.7 percent below its 52-week high and 7.65 percent above its 52-week low.
Market capitalisation stands at Rs 7,362.08 crore.
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