Amber Enterprises just about managed to avoid hitting the 20% LC of the day. The stock hit an intraday low at Rs.2701.50, a mere 30 paise away from the LC of the day at Rs.2701.20. It is currently trading at Rs.2715 levels, down over 19.5%.
The stock has tanked post its disappointing Q4FY22 earnings. Its inability to pass on the full impact of the rising raw material prices dented the bottomline – net profit came in 22% (YoY) lower at Rs.59 crore though revenue rose 21% at Rs.1937 crore. Topline rose on the back of higher volumes and price realisations but the 25% rise in operating costs, did not allow this to percolate down positively.
The company is a market leader in domestic room air conditioner (RAC) industry and air conditioning industry for mobility applications such as railways, metros, buses.