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Dolat Capital Report
Amber Enterprises India Pvt. Ltd. is a contract manufacturer of Room Air Conditioners (RAC) and a market leader with approximately 22% share in overall RAC manufacturing and approximately 55% share in RAC contract manufacturing.
It is expected to be a key beneficiary as the AC outsourcing mix is expected to improve from the current 38% to approximately 50% on back of a compound annual growth rate of 15%-17% for the AC industry over the next five years.
We expect it to grow faster than the industry over this period due to its large customer base (customers have cumulative share of approximately 75% of the AC market in India).
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