Day: January 24, 2025

Amber Enterprises shares jumped 6.9 per cent on Friday, logging an intraday high at Rs 7,249.95 per share. The buying interest at the counter came after the company swung to profit in Q3 from loss a year ago.  

Around 10:12 AM, Amber Enterprises share price was up 1.7 per cent at Rs 6,892.05 per share on BSE. In comparison, the BSE Sensex was down 0.14 per cent at 76,414.48. The market capitalisation of the company stood at Rs 23,311.33 crore. The 52-week high of the stock was at Rs 8,167.10 per share and the 52-week low was at Rs 2,991.2 per share. 

Amber Enterprises released its Q3 results on Thursday, after market hours, which showed that the company swung to a net profit of Rs 36 crore as compared to a loss of Rs 0.48 crore a year ago.  

The revenue of the company for the quarter under review stood at Rs 2,133 crore as compared to Rs 1,295 crore a year ago which implies a rise of 64.8 per cent year-on-year (Y-o-Y).  

As per the company’s filing, the operating Earnings before interest, tax, depreciation and amortisation (Ebitda) grew to Rs 162 crore, reflecting growth of 97 per cent Y-o-Y. 

Besides, consumer durable and electronic division clocked a quarterly revenue growth of 67 per cent and 96 per cent respectively over previous year.  

“We are pleased to report the robust financial performance for Q3FY25. The Consumer Durable division reported strong growth of 67 per cent Y-o-Y, led by the underlying RAC industry channel inventory filling in anticipation of positive summer season, and aided by deepening of the customer relationships,” said Jasbir Singh, executive chairman & CEO and whole time director, Amber Enterprises India. 

He added: The Railway Sub-systems and Defense division revenue witnessed a 13 per cent decline on a Y-o-Y basis in Q3FY25, impacted by deferral in the offtake of products. However, the delay in Indian Railways offtake is more momentary and with no cancellations of orders. 

“We remain optimistic for the strong growth trajectory of the division over long-term, backed by the order book and products expansion. Overall, with the key strategic initiatives in each division, we are well poised to attain new scale for the company,” Singh said. 

In the past one year, Amber Enterprises shares have gained 78.2 per cent against Sensex’s rise of 7.6 per cent. 

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IT company Cyient shares nosedived 19.99 per cent to hit a fresh 52-week low of Rs 1,402.25 per share on Friday, January 24, 2025. 

The fall in Cyient share price came after the company posted a weak set of results in the December quarter of financial year 2025 (Q3FY25). 

Cyient’s profit fell 31.7 per cent quarter-on-quarter (Q-o-Q) to Rs 122.3 crore in Q3FY25, from 179.1 crore in the September quarter of financial year 2025 (Q2FY25). 

Meanwhile, revenue from operations, rose 4.2 per cent Q-o-Q to Rs 1,926.4 crore in Q3FY25, from Rs 1,849.1 crore in Q2FY25.

Operating performance was weak too. Earning before interest, tax, depreciation and amortisation (Ebitda) dropped 14.4 per cent sequentially to Rs 279 crore in Q3FY25, from Rs 296.7 crore in Q2FY25.

Subsequently, Ebitda margin squeezed 250 basis points (bps) to 14.5 per cent in Q3FY25, from 16 per cent in Q2FY25.  

In Y-o-Y terms, Cyient’s profit dropped 16.9 per cent to Rs 122.3 crore in Q3FY25, from Rs 147.2 crore ion Q3FY24.  

Its revenue from operations rose 5.8 per cent Y-o-Y to Rs 1,926.4 crore in Q3FY25, from Rs 1,821.4 crore.

Operationally, Ebitda slipped 14.4 per cent Y-o-Y to Rs 279 crore, from Rs 326.1 crore in the same quarter a year ago. 

Therefore, margin also contracted 340 bps to 14.5 per cent in Q3FY25, from 17.9 per cent in Q3FY24.  

Analysts at Nuvama have cut FY25E/26E earnings per share (EPS) sharply by -10.8 per cent/-4.5 per cent on lower growth and margins.  

“We are updating FY26E/27E USDINR assumption to 86.5 and rolling over to 20x FY27E PE, yielding a target price (TP) of Rs 1,660 (earlier Rs 1,700); retain ‘Hold’,” Nuvama said in a note. 

About Cyient

Cyient, founded in 1991, is a global engineering and technology company. The company offers a broad range of services across engineering, manufacturing, data analytics, and digital technology, assisting businesses in various industries to design, build, operate, and maintain their products.  

With a focus on innovation, Cyient supports its customers in areas such as network transformation, clean energy, and geospatial data improvement, helping them navigate complex challenges and accelerate their growth. 

Serving over 300 customers worldwide, including 30 per cent of the top 100 global innovators, Cyient has built a diverse portfolio across multiple sectors. The company operates through specialised business units, including aerospace & defense, transportation, industrial & energy, healthcare, and telecommunications. 

Additionally, Cyient’s design-led manufacturing (Cyient DLM) division ensures high-quality production processes, further boosting its ability to meet the evolving needs of its global clientele. 

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Shares of hiring solutions provider EMA Partners India made a decent D-Street debut on Friday, January 24, 2025, following the completion of its initial public offering (IPO). EMA Partners India shares listed at Rs 156.50 per share on NSE SME, reflecting a premium of Rs 32.50 or 26.20 per cent over the issue price of Rs 124 apiece. 

EMA Partners India IPO listing fell short of grey market estimates. Ahead of the listing, EMA Partners India shares were trading at Rs 188 apiece, reflecting a grey market premium (GMP) of Rs 64, or 51.61 per cent over the issue price, according to sources tracking grey market activities.

EMA Partners India IPO details

EMA Partners India IPO is a book-built issue of Rs 76.01 crore, comprising a fresh issue of 53,34,000 equity shares and an offer for sale (OFS) of 7,96,000 equity shares. The public offering, which was available at a price band of Rs 117–124 apiece and a lot size of 1,000 shares, ended up getting oversubscribed by 221.13 times by Tuesday, January 21, 2025. 

The basis of allotment of EMA Partners India IPO shares was finalised on Wednesday, January 22, 2025. The company has fixed Rs 124 as the allotment price, which is also the upper end of the IPO price band.

Bigshare Services serves as the registrar for the issue, while Indorient Financial Services is the book-running lead manager. 

EMA Partners India, in its Red Herring Prospectus, stated that it will not receive any proceeds from the OFS. “The selling shareholders will be entitled to their portion of the proceeds from the OFS after deducting proportionate offer-related expenses and relevant taxes thereon,” said EMA Partners India. 

The company, however, proposes to use the proceeds of the fresh issue for itself and its subsidiaries. EMA Partners India intends to invest in its subsidiaries through equity, debt, or a combination of both, enabling them to meet their objectives. The company plans to raise funds for augmenting the leadership team, upgrading the existing IT infrastructure, repaying or prepaying borrowings related to office premises, and general corporate purposes, including unidentified inorganic acquisitions.

About EMA Partners India

EMA Partners India is an executive search firm delivering customized leadership hiring solutions to a wide range of clients across diverse sectors. As per the RHP, the company has recruited several business and functional leaders for domestic and international clients. EMA Partners India houses leadership overseeing the overall business of the company and its subsidiaries in India, Singapore, and Dubai. EMA Partners Executive Search manages the executive search business in India and invests in other related businesses, including the technology-based recruitment platform company Reccloud Technologies.

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