Financials Amber Enterprises India Limited Bombay S.E.

Equities

AMBER

INE371P01015

Electrical Components & Equipment

Market Closed - Bombay S.E. Other stock markets 03:30:53 02/07/2024 pm IST			5-day change	1st Jan Change
4,500 ^INR	+0.33%		+9.58%	+43.60%

12/06	Amber Enterprises India Limited acquired an additional 4.60% stake in IL Jin Electronics Private Limited from Hyun Chul Sim for approximately INR 330 million.	CI
25/05	Amber Enterprises India Limited acquired additional 20.22% stake in Ever Electronics Private Limited from Hyun Chul Sim for INR 686.3 million.	CI

Valuation

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	25,679	38,693	1,11,723	1,18,711	61,478	1,51,512	-	-
Enterprise Value (EV) ¹	27,099	40,825	1,11,789	1,22,206	69,320	1,23,242	1,60,829	1,59,300
P/E ratio	27.1 x	23.6 x	133 x	109 x	39.1 x	92.8 x	61.7 x	41 x
Yield	-	0.26%	-	0.09%	-	0.09%	0.07%	0.1%
Capitalization / Revenue	0.93 x	0.98 x	3.69 x	2.82 x	0.89 x	1.83 x	1.81 x	1.49 x
EV / Revenue	0.98 x	1.03 x	3.69 x	2.91 x	1 x	1.83 x	1.92 x	1.57 x
EV / EBITDA	12.7 x	13.2 x	50.7 x	44.4 x	16.6 x	25.1 x	24.8 x	19.7 x
EV / FCF	-14.8 x	28.5 x	307 x	-74.5 x	-20.3 x	-186 x	99.6 x	49.7 x
FCF Yield	-6.77%	3.51%	0.33%	-1.34%	-4.93%	-0.54%	1%	2.01%
Price to Book	2.6 x	3.31 x	6.96 x	6.85 x	3.22 x	7.34 x	6.64 x	5.71 x
Nbr of stocks (in thousands)	31,447	31,447	33,694	33,694	33,694	33,694	-	-
Reference price ²	816.6	1,230	3,316	3,523	1,825	4,497	4,497	4,497
Announcement Date	24/05/19	30/05/20	22/05/21	13/05/22	16/05/23	17/05/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	27,520	39,628	30,305	42,064	69,271	67,293	83,571	1,01,686
EBITDA ¹	2,129	3,093	2,203	2,754	4,179	4,919	6,478	8,075
EBIT ¹	1,605	2,245	1,280	1,675	2,788	3,054	4,320	5,681
Operating Margin	5.83%	5.67%	4.22%	3.98%	4.03%	4.54%	5.17%	5.59%
Earnings before Tax (EBT) ¹	1,359	1,907	1,201	1,543	2,197	1,913	3,415	4,988
Net income ¹	936.6	1,584	815.9	1,092	1,572	1,329	2,456	3,679
Net margin	3.4%	4%	2.69%	2.6%	2.27%	1.97%	2.94%	3.62%
EPS ²	30.14	52.20	24.96	32.41	46.66	39.41	72.88	109.7
Free Cash Flow ¹	-1,835	1,433	364.2	-1,641	-3,416	-875.2	1,615	3,203
FCF margin	-6.67%	3.62%	1.2%	-3.9%	-4.93%	-1.22%	1.93%	3.15%
FCF Conversion (EBITDA)	-	46.33%	16.53%	-	-	-	24.93%	39.66%
FCF Conversion (Net income)	-	90.45%	44.63%	-	-	-	65.77%	87.06%
Dividend per Share ²	-	3.200	-	3.200	-	4.033	3.133	4.357
Announcement Date	24/05/19	30/05/20	22/05/21	13/05/22	16/05/23	17/05/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	7,647	15,984	7,079	5,875	12,954	9,743	19,367	18,257	7,504	13,483	30,026	17,020	9,216	15,642	31,197	21,278
EBITDA ¹	630.3	1,412	421.7	343	-	736.2	1,253	992.4	366.7	785.1	2,035	1,319	610.7	1,057	2,262	1,745
EBIT ¹	-	-	178.1	80.7	-	465.4	950.5	670.9	48.63	422	1,647	886.3	103.1	579.8	1,905	1,208
Operating Margin	-	-	2.52%	1.37%	-	4.78%	4.91%	3.67%	0.65%	3.13%	5.48%	5.21%	1.12%	3.71%	6.11%	5.68%
Earnings before Tax (EBT) ¹	398.7	1,164	157.6	98.11	-	428.4	858.6	588.6	-73.19	222.1	1,459	626.9	-206.5	347.5	1,779	943
Net income ¹	269.3	754.6	124.3	74.31	198.6	321.2	572.2	420.5	-29.8	141.5	1,040	456.4	-32.33	242.7	1,095	652
Net margin	3.52%	4.72%	1.76%	1.26%	1.53%	3.3%	2.95%	2.3%	-0.4%	1.05%	3.46%	2.68%	-0.35%	1.55%	3.51%	3.06%
EPS ²	7.990	22.39	3.690	2.210	-	9.530	16.98	12.48	-0.8800	4.200	30.86	13.55	-4.600	7.460	33.52	19.30
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	30/01/21	22/05/21	07/08/21	30/10/21	30/10/21	29/01/22	13/05/22	09/08/22	21/10/22	23/01/23	16/05/23	25/07/23	-	-	-	-

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,420	2,132	66	3,495	7,843	11,476	9,316	7,788
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.667 x	0.6892 x	0.03 x	1.269 x	1.877 x	2.279 x	1.438 x	0.9643 x
Free Cash Flow ¹	-1,835	1,433	364	-1,641	-3,416	-875	1,615	3,203
ROE (net income / shareholders' equity)	9.97%	15%	5.97%	6.54%	8.63%	7.52%	11%	14.7%
ROA (Net income/ Total Assets)	-	6%	-	-	-	3.3%	4.34%	4.96%
Assets ¹	-	26,383	-	-	-	45,686	56,615	74,239
Book Value Per Share ²	314.0	372.0	476.0	515.0	567.0	612.0	677.0	788.0
Cash Flow per Share ²	-	-	67.60	74.10	95.10	150.0	173.0	200.0
Capex ¹	1,204	1,449	1,845	4,137	6,622	3,763	3,366	2,890
Capex / Sales	4.38%	3.66%	6.09%	9.83%	9.56%	5.26%	4.03%	2.84%
Announcement Date	24/05/19	30/05/20	22/05/21	13/05/22	16/05/23	17/05/24	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Amber Enterprises India Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

4,497 INR

Average target price

4,166 INR

Spread / Average Target

-7.36%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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