ICICI Direct has given Hold recommendation for Amber Enterprises with a target price of Rs. 2415 in its research report issued on Aug 11, 2022

ICICI Direct’s research report on Amber Enterprises

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.

Outlook

We maintain our HOLD rating on the stock. We value Amber at Rs 2415 i.e. 30x P/E on FY24E EPS.

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