Whalesbook
Arey, hua kya ki May 18, 2026 ko Amber Enterprises ka share almost 15% doob gaya. Kyunki, Q4 FY26 mein toh revenue 10% badh kar ₹4,147.51 crore ho gaya aur net profit 37% jump kar ke ₹161.96 crore pahunch gaya. Ye toh mast lag raha tha!
But, jab poore saal FY26 ka final figure dekha, toh game change ho gaya. Revenue toh 32% badh kar ₹13,164.67 crore ho gaya, par profit before tax 9% gir gaya (₹336.42 crore) aur net profit toh 27% kam ho kar ₹177.65 crore reh gaya. Ye annual slump dekh kar logon ne shares bechne shuru kar diye, volume bhi kaafi high tha.
Ye jo revenue badhne ke baad bhi profit kam hone wala scene hai na, isi wajah se sab pareshan hain. Q4 toh acha tha, par saal bhar mein profit gira matlab kuch toh gadbad hai. Maybe raw material mehnga ho gaya hai ya phir company zyada price nahi badha pa rahi. Isse margins par pressure aa raha hai.
Ab company ki valuation bhi toh dekho. P/E ratio around 94.22x chal raha hai, kuch jagah toh 188.88x ya 200x se bhi upar hai! Itna high P/E tabhi justify hota hai jab profit bhi lagaatar badhe. Lekin yahan toh ulta ho raha hai. Comparison karein toh Dixon Technologies ka P/E 87.8x hai aur Johnson Controls-Hitachi Air Conditioning India Ltd ka 80.2x hai. Ye log Amber se cheaper hain. Sector toh India mein electronics manufacturing ka $610 billion tak jaane wala hai 2030 tak, but Amber ka performance sawaal utha raha hai. Company expansion toh kar rahi hai, strategic steps bhi le rahi hai, but financials mein dikhana hoga.
Ajeeb baat yeh hai ki analysts toh abhi bhi "Buy" recommend kar rahe hain, aur average target price ₹8,422.76 ke aas paas hai. Par ye jo profit margins ka issue hai, jo baar baar aa raha hai, woh dikhata hai ki cost control ya pricing power mein kami hai. Return on Equity bhi bas 7.5% hai aur dividend bhi nahi de rahe. Ye high aur volatile P/E ratio 94x se 200x+ tak jaata hai, jo girte hue annual profits ke liye bilkul sahi nahi lagta. Sector acha hai, but stock performance market ke saath nahi chal pa raha.
Aage kya? Analysts toh abhi bhi positive hain. Company expansion aur government schemes (PLI) se growth expect hai. Par sabse bada kaam ab Amber Enterprises ke liye ye hai ki woh annual profit girne se roke aur margins ko control mein dikhaye. Jab tak ye nahi hoga, investors ka bharosa nahi banega aur current high valuation maintain karna mushkil hoga.