07 Dec , 2021 By : monika singh
Axis Securities has buy call on Amber Enterprises India NSE -0.86 % with a target price of Rs 3690. The current market price of Amber Enterprises India is Rs 3170.05. Time period given by analyst is one year when Amber Enterprises India Ltd. price can reach defined target.
Amber Enterprises India Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 10710.23 Crore) operating in Consumer Durables sector.
Amber Enterprises India Ltd. key Products/Revenue Segments include Air Conditioners, Scrap, Job Work and Other Operating Revenue for the year ending 31-Mar-2021.
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 595.62 Crore, down -16.70 % from last quarter Total Income of Rs 715.03 Crore and up 41.63 % from last year same quarter Total Income of Rs 420.56 Crore. Company reported net profit after tax of Rs 7.89 Crore in latest quarter.
Investment Rationale
The brokerage expect Amber to register revenue CAGR of 31% over FY21-24. The company’s long-term outlook remains intact with demand recovery and encouraging growth in the underpenetrated domestic market. The brokerage roll estimates forward to FY24E and value the stock at 40x FY24 EPS of Rs 92.5 to arrive at the target price of Rs 3,690/share.
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