Amber Enterprises India Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 9410.66 Crore) operating in Consumer Durables sector.
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1606.89 Crore, up 107.69 % from last quarter Total Income of Rs 773.68 Crore and up 22.18 % from last year same quarter Total Income of Rs 1315.16 Crore. Company reported net profit after tax of Rs 76.48 Crore in latest quarter.
The brokerage continues to like Amber for its focus on acquiring new business opportunities either through government’s Atmanirbhar scheme or shift in focus on China+1 strategy by key clients amid pandemic. We believe its strong balance sheet (D/E 0.2x) will help the company to sail through near term challenges. The brokerage reiterates BUY recommendation on the stock with a revised target price of Rs 3130 (earlier Rs 3025) valuing at 35x FY23 earnings
Promoters held 40.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 25.4 per cent, DIIs 9.5 per cent and public and others 24.9 per cent.
(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
Business News Governmental News Finance News
Need Your Help Today. Your $1 can change life.