Amber Enterprises Q3 Results Review - Shifting Gears To Electronics And Mobility: Dolat Capital

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Amber Enterprises India Pvt Ltd.'s Q3 FY24 results were below our estimates. While mobility division grew 11%, consumer durable and electronics fell 5/8% respectively. Room AC brands shifting to in-house manufacturing impacted CD performance. The new Joint venture with Titagarh will help address ~25% of bill of materials per Vande Bharat coach (Rs 20-25 million) and increase the order visibility of the mobility segment to Rs 20 billion. Further, segment margins are strong at ~20-22%. Partnership with ascent circuits and onboarding of new customers in smart metering/automotive will enable Amber to double revenue of electronics division over next two years with Ebitda margin of 7-7.5% (5% currently). Next two-three quarters are expected to be challenging due to Amber’s transformational shift. Diversification to non-RAC business on the back of new initiatives is likely to boost performance FY26E onwards. We have downward revised our FY24/25/26E earning per share to Rs 42/75/107 respectively. to factor in weak Q3 performance. We downgrade the stock to reduce with a revised target price of Rs 3,660, valuing at 34 times FY26E EPS (25% discount to last 5 year average)..Click on the attachment to read the full report:.Coal India Q3 Profit Rises, Steel Authority Of India Revenue Down — Earnings Wrap.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Amber Enterprises Q3 Results Review - Shifting Gears To Electronics And Mobility: Dolat Capital

Revenue was down 4% YoY to Rs. 12.9 billion in Q3 FY24.

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Amber Enterprises Q3 Results Review - Shifting Gears To Electronics And Mobility: Dolat Capital

Revenue was down 4% YoY to Rs. 12.9 billion in Q3 FY24.

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