Sharekhan has given Buy recommendation for Amber Enterprises with a target price of Rs. 4300 in its research report issued on Jan 31, 2022

Sharekhan’s research report on Amber Enterprises

The company reported strong performance for Q3FY2022 led by high growth in components business along with highlighting its ability to pass on increased input costs to end consumers. Company expects strong Q4 with FY2022 AC volumes expected to touch 3mn units versus 1.1mn in 9MFY2022. The OPM are expected to sustain. PLI schemes would help Amber strengthen domestic presence along with strong export opportunities over the next 3-4 years.

Outlook

We retain a Buy on the stock with a revised PT of Rs. 4300, given its strong net earnings growth outlook ahead.

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