Sharekhan has given Buy recommendation for Amber Enterprises with a target price of Rs. 3716 in its research report issued on Feb 23, 2021

Sharekhan’s research report on Amber Enterprises

The company remains one of the key beneficiaries of import ban on ACs with refrigerants and the likely expansion of PLI schemes for ACs and components. Capacity expansion through a greenfield project with projected capacity of 1 million units (likely to be operational by Q4FY22) should improve business. Component exports would begin in FY2022, while those of RACs from CY2022. It is set to build 18-20 commercial refrigeration products over 2-3 years. Order backlog is strong across products.