20 May , 2025 By : Debdeep Gupta
EMS firm Amber Enterprises India Ltd.'s shares saw a sharp uptick in trade on Tuesday, May 20, after reporting its earnings for the January-March FY25 period.
Amber Enterprises reported a 34 percent year-on-year increase in consolidated revenue from operations, rising from Rs 2,805.46 crore in Q4FY2024 to Rs 3,753.70 crore for the March quarter. The firm's consolidated net profit for the quarter grew 23 percent year-on-year to Rs 116 crore.
At 9.45 am, shares of Amber Enterprises were quoting Rs 6,301 per share, higher by 0.8 percent on the NSE.
The firm has improved its market share further (100 bps to 27 percent) in room air-conditioners (RAC) in FY25 and now guides for 10–12 percentage points outperformance to the industry in FY26.
The Electronics segment continues to propel overall growth with margin improvement led by sophisticated offerings (high-margin automotive, industrial, and defence). Mobility, which was
weak in FY25, is likely to recover sharply in FY27.
Should you buy, sell, or hold Amber Enterprises shares?
Motilal Oswal expects strong growth in electronics segment to continue, which will be further boosted after the company’s capacity in JV with Korea Circuit is commissioned. The brokerage reiterated its 'buy' rating, with an lower target price of Rs 7,600, from Rs 7,800 earlier.
"We expect the railway segment’s performance to remain subdued in the near term. We cut our estimates by 8 percent each for FY26/27 to factor in higher losses from JV and a higher tax rate," added Motilal Oswal.
CLSA upgraded Amber Enterprises to 'outperform' with a revised target of Rs 7,275, citing strong Q4 results and growth guidance. It highlighted gains in the non-room AC segment and expects strong returns from electronics capex under the PLI scheme. Margin and return improvements, supported by non-RAC growth, are seen as key drivers.
Jefferies noted solid execution in FY25 and expects a 50 percent EPS CAGR over FY25–28, driven by margin-accretive components, new capex, and strategic partnerships. While electronics EBITDA doubled, mobility sales were hit by order delays. FY27 EPS was slightly trimmed due to unseasonal rains in April–May 2025.
HDFC Securities and Nuvama Institutional Equities maintained their buy ratings as well, with a target price of Rs 7,850 and Rs 7,980 per share, respectively.
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