Q4FY21 Result Update - Amber Enterprises India - ICICI Direct

Amber Enterprises witnessed a strong sales recovery in H2FY21 led by pent up demand for room air conditioners (RAC) and new customer additions in the component business. Despite a significant loss of sales in Q1, the company reached 75% of its pre-Covid level revenue in FY21. Amber's strategy for long term growth remains intact. It is focusing on 1) capacity building to get PLI benefits, 2) addition of new customers in FY22-23, 3) looking for technological tie ups to increase presence in central AC business (VRF, VRV), 4) focus on exports of components and 5) explore business opportunities in its mobility business (metro/AC rail coaches). However, we believe the current lockdown related disruptions in peak period would hit its Q1FY22 revenue and earnings. Hence, we revise our revenue, earnings estimate downward by 19%, 33%, respectively, for FY22E.

For details, click on the link below: Link to the report

Shares of Amber Enterprises India Ltd was last trading in BSE at Rs.2755.5 as compared to the previous close of Rs. 2736.35. The total number of shares traded during the day was 19073 in over 3797 trades.

The stock hit an intraday high of Rs. 2826 and intraday low of 2737.75. The net turnover during the day was Rs. 53079006.

Source : Equity Bulls

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