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Geojit Report
Geojit initiates coverage on Amber Enterprise India Pvt. Ltd. with a Buy rating and a target price of Rs.9,156, valuing the stock at 43 times FY28E earnings per share.
Investment Rationale
- Amber Enterprises derives 73% of its FY25 revenue from its consumer durable business (room AC and components). The brokerage expect this segment to remain the key revenue driver and project a healthy 22% CAGR over FY26E–28E.
- Geojit notes that Amber is also aggressively scaling up its PCB and PCBA manufacturing capacity to deepen its presence in India's fast‑growing electronics ecosystem. With rising domestic sourcing and a push toward import substitution, the brokerage expects the electronics division to deliver a 30% CAGR over FY26E–FY28E, with growth likely accelerating as additional capacity becomes operational.
- The brokerage expects the electronics segment to deliver a strong 30% CAGR over FY26E– FY28E, with growth likely to accelerate further as new capacities come on stream.
- The brokerage also highlights Amber's expansion within industrial automation through acquisitions made by its subsidiary ILJIN Electronics. The company has acquired majority stakes in Unitronics and Shogini, enabling it to broaden its offerings into PLCs, motion control systems, and a range of automation‑related products. Geojit believes these additions meaningfully enhance Amber's long‑term growth runway and diversify its revenue mix into higher‑value, future‑ready categories.
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