Buy Amber Enterprises India, target price Rs 2929: Yes Securities

Yes Securities has buy call on Amber Enterprises India with a target price of Rs 2929. The current market price of Amber Enterprises India is Rs 2795.15.

Amber Enterprises India, incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 9419.25 Crore) operating in Consumer Durables sector.

Amber Enterprises India key Products/Revenue Segments include Air Conditioners, Job Work, Scrap, Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1721.30 Crore, down -43.03 % from last quarter Total Income of Rs 3021.31 Crore and down -6.38 % from last year same quarter Total Income of Rs 1838.58 Crore. Company has reported net profit after tax of Rs 46.61 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 40.32 per cent stake in the company as of 30-Jun-2023, while FIIs owned 24.2 per cent, DIIs 12.66 per cent.