ICICIdirect maintains hold on Amber Enterprises, target price Rs 945

ICICIdirect has maintained hold rating on Amber Enterprises India in the long term with a target price of Rs 945. Shares of Amber Enterprises India ended down 0.5% at Rs 877.45 on Wednesday while BSE Sensex closed 645.97 points up at 38,177.95.

Company Financials

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 1235.94 crore, up 3.34% from last quarter sales of Rs 1196.01 crore and up 74.55% from last year same quarter sales of Rs 708.07 crore. The company has reported net profit after tax of Rs 64.33 crore in the latest quarter.


Investment Rationale
The brokerage likes Amber for its leadership position in the RAC OEM/ODM industry in India with a strong customer base. Focus on component business provides Amber an edge over the competition, said ICICIdirect.