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ICICI Securities Report
Amber Enterprises India Ltd.'s acquisition of Pravartaka brings injection moulding capability for small components and relationship with new customers.
Pravartaka did Rs 620 million in sales in FY21, and was acquired at enterprise value/Ebitda of ~6.9 times on FY21 Ebitda.
It has two manufacturing facilities in North India. Promoter of Pravartaka will run the business as Managing Director.
At current capacity levels, the revenue of the company can be more than doubled to Rs 130-140 million (net asset turnover of ~six times).
We believe the acquisition will be earnings as well as return on investment accretive for Amber Enterprises.
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