External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Amber Enterprises India / Equity Bottom-Up

<ul><li>Amber Enterprises (Amber) reported better-than-expected revenue and EBITDA in 3QFY25; however, PAT came in line with our estimate due to losses from subsidiaries.</li><li>Revenue/EBITDA improved 65%/102% YoY, led by the consumer durables and electronics segments, while railways continued to decline.</li><li>Consumer durables, particularly the RAC segment, witnessed strong growth, driven by overall healthy RAC demand and client additions.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Amber Enterprises (Amber) reported better-than-expected revenue and EBITDA in 3QFY25; however, PAT came in line with our estimate due to losses from subsidiaries.Revenue/EBITDA improved 65%/102% YoY, led by the consumer durables and electronics segments, while railways continued to decline.Consumer durables, particularly the RAC segment, witnessed strong growth, driven by overall healthy RAC demand and client additions.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Amber Enterprises - Two Steps Forward, One Step Backward

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Amber Enterprises: Amber’s Q4FY25 revenue grew by 34% YoY to INR 37.54bn, mainly led by robust growth in consumer durables and electronics segments (+27/74% YoY)</li><li>EBITDAM contracted slightly by 10bps YoY (+40bps QoQ) due to a decline in gross margin (-20bps) and higher other expenses (+36% YoY/up 10bps YoY), partially offset by employee cost reduction of 20bps YoY (+24% YoY in absolute terms)</li><li>Consequently, EBITDA grew 33% YoY.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Amber Enterprises: Amber’s Q4FY25 revenue grew by 34% YoY to INR 37.54bn, mainly led by robust growth in consumer durables and electronics segments (+27/74% YoY)EBITDAM contracted slightly by 10bps YoY (+40bps QoQ) due to a decline in gross margin (-20bps) and higher other expenses (+36% YoY/up 10bps YoY), partially offset by employee cost reduction of 20bps YoY (+24% YoY in absolute terms)Consequently, EBITDA grew 33% YoY.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Amber Enterprises, Eris Lifesciences, Kalpataru Projects International

<ul><li>Post a reasonably good festive season, demand environment is likely to have slackened for most consumer durable categories due to (1) weak consumer sentiment due to inflationary pressures, and (2) delayed onset of winters</li><li>RAC continues to shine aided by second summer season and normal channel inventory thereby supporting overall industry growth</li><li>Timely onset of summer season remains key monitorable in coming months</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Post a reasonably good festive season, demand environment is likely to have slackened for most consumer durable categories due to (1) weak consumer sentiment due to inflationary pressures, and (2) delayed onset of wintersRAC continues to shine aided by second summer season and normal channel inventory thereby supporting overall industry growthTimely onset of summer season remains key monitorable in coming monthsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumer Durables & EMS (Q3FY25): Demand slackens post some festive cheer

<ul><li>Amber Enterprises (Amber) reported better-than-expected results driven by strong performance of the consumer durables and electronics segments.</li><li>The company’s revenue/EBITDA jumped 82%/91% YoY for 2QFY25.</li><li>Strong growth in the overall AC industry, addition of new clients, and strategic focus to grow the electronics segment aided performance during the quarter.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Amber Enterprises (Amber) reported better-than-expected results driven by strong performance of the consumer durables and electronics segments.The company’s revenue/EBITDA jumped 82%/91% YoY for 2QFY25.Strong growth in the overall AC industry, addition of new clients, and strategic focus to grow the electronics segment aided performance during the quarter.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Amber Enterprises - Consumer Durables and Electronics Fuel Performance

<ul><li>Amber’s 2Q print positively surprised, with revenue/EBITDA growing by 82%/91%</li><li>Prolonged summers and lower channel inventory led to 95% growth in the consumer durables segment (RAC grew by 104%)</li><li>Propelled by the consolidation of Ascent Circuits (bare PCB manufacturer) and order inflow from new segments and customers, EMS revenues grew by 98%, along with 230bps margin expansion</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Amber’s 2Q print positively surprised, with revenue/EBITDA growing by 82%/91%Prolonged summers and lower channel inventory led to 95% growth in the consumer durables segment (RAC grew by 104%)Propelled by the consolidation of Ascent Circuits (bare PCB manufacturer) and order inflow from new segments and customers, EMS revenues grew by 98%, along with 230bps margin expansionContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Amber Enterprises (Q2FY25): Stellar Performance. Maintain BUY

India

Amber Enterprises India Limited manufactures heating and ventilation equipment. The Company offers refrigerators, heat exchangers, air conditioners, home appliances, vacuum forming, and lighting products. Amber Enterprises also produces auto parts, injection molding, and sheet metal components. Amber Enterprises serves clients in India.

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Amber Enterprises India (AMBER IN)

Amber Enterprises - Two Steps Forward, One Step Backward

Amber Enterprises (Amber) reported better-than-expected revenue and EBITDA in 3QFY25; however, PAT came in line with our estimate due to losses...

Motilal Oswal

HSIE Results Daily: Amber Enterprises, Eris Lifesciences, Kalpataru Projects International

Amber Enterprises: Amber’s Q4FY25 revenue grew by 34% YoY to INR 37.54bn, mainly led by robust growth in consumer durables and electronics segments...

HDFC Securities

Consumer Durables & EMS (Q3FY25): Demand slackens post some festive cheer

RAC continues to shine aided by second summer season and normal channel inventory thereby supporting overall industry growth. Timely onset of...

HDFC Securities

Amber Enterprises - Consumer Durables and Electronics Fuel Performance

Amber Enterprises (Amber) reported better-than-expected results driven by strong performance of the consumer durables and electronics segments.

Motilal Oswal

Amber Enterprises (Q2FY25): Stellar Performance. Maintain BUY

We increase our FY25-FY27 earnings by 6% to reflect 2Q performance and value the stock at 45x Sep’26 EPS to arrive at a target price of INR 6,750....

HDFC Securities

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