For 3QFY2019, Amber Enterprises Ltd (Amber) posted a decent set of numbers
given muted demand environment and significant cost pressures. Revenue grew
by 14.9% yoy to `338.8cr. On the bottom-line front, Amber reported PAT of
`3.9cr against `0.1cr despite cost pressures.
Outlook and Valuation: We expect Amber Ltd. to report net profit (reported)
CAGR of ~35.5% to ~`114.4cr over FY2018-20E on the back of topline growth
of 19.4% in the same period. Post the 3QFY19 numbers, we maintain BUY on the
stock with a revised target Price of `910 (25xFY20E).
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