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AC components & electronics manufacturing Historical case study · data as of 23 Jul 2026 · published 26 Oct 2026 (95 days later)

Amber Enterprises India — 100-point case study

How Amber Enterprises India looked on 50 technical and 50 fundamental measures on 23 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: AMBER
Close on 23 Jul 2026	₹7,430.00
Market cap then	₹26,207 crore
Valuation	P/E 115.7× · P/B 5.99×
Momentum	RSI (14) 42 · 1-year return +1.6%
Next 3 months	-19.2% vs Nifty 50 -5.3% (to 23 Oct 2026)

Scorecard

Technical — 50 points

9 bullish · 21 neutral · 3 caution · 16 bearish — the picture leaned negative.

Fundamental — 50 points

5 bullish · 30 neutral · 7 caution · 7 bearish — the picture was mixed.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Technical analysis — 50 points

Calculated by code from daily prices up to 23 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope +0.16%/day	Bullish	Over the last 20 sessions the regression line of closing prices was rising about 0.16% a day — a short-term uptrend. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return -4.8%	Bullish	The 100-session trend line was up (+0.08%/day) and the stock was -4.8% over three months, so the medium-term picture was bullish. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return +1.6%	Neutral	Compared with a year earlier the price was +1.6%. Little net progress over twelve months. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 7,626.20 / 30W 7,287.93	Neutral	On the weekly chart the stock showed a weekly close tangled between the 10-week and 30-week averages. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 8,218.00→8,095.00; lows 7,380.00→7,380.00	Bearish	The two most recent swing points showed lower swing highs and lower swing lows — classic downtrend structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	10.1	Neutral	ADX at 10.1 signals a weak or absent trend (below 20) — range-bound conditions. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 17.3 / –DI 23.3	Bearish	–DI was above +DI: sellers had the upper hand in directional movement. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	7,630.15 (-2.6%)	Bearish	Close of 7,430.00 was 2.6% below the 20-day SMA — the short-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	7,649.21 (-2.9%)	Bearish	Close of 7,430.00 was 2.9% below the 50-day SMA — the medium-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	7,343.43 (+1.2%)	Bullish	Close of 7,430.00 was 1.2% above the 200-day SMA — the long-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 7,647.24 / 21E 7,668.74	Bearish	The 9-day EMA was below the 21-day EMA; the last crossover happened on 23 Jul 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	last golden cross 24 Apr 2026	Bullish	The 50-day average was 4.2% above the 200-day. The most recent signal was a golden cross on 24 Apr 2026. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	-2.2% in 20 sessions	Bearish	The 50-day average fell 2.2% over the past month — declining. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	7,630 / 7,649 / 7,552 / 7,343	Neutral	The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range. Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	7,696.85 (-3.5%)	Bearish	Anchored to the start of July, the volume-weighted average price was 7,696.85; the close was below it — buyers that month were on average under water. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	42.5	Bearish	RSI at 42.5 reflected soft, below-average momentum. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	none	Neutral	Comparing the last 20 sessions with the 20 before: no divergence — RSI moved in line with price. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD -9.92 / signal 13.18	Bearish	MACD was below its signal line — momentum turning or staying negative. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	38.17 → -23.10	Bearish	The histogram fell over the last five sessions, meaning momentum was weakening. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	-9.92	Bearish	MACD below zero means the 12-day EMA was below the 26-day EMA — a negative momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 19.1 / %D 36.9	Caution	Slow stochastic at 19.1 was in oversold territory (<20). Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-90.5	Caution	%R of -90.5 put the close near the bottom of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	-98	Neutral	CCI at -98 was within the normal ±100 band. Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	-2.2%	Bearish	Price changed -2.2% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B 0.22 (bands 7,269.93–7,990.37)	Neutral	%B of 0.22 — inside the bands, lower half. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 9.4% (4th pct of 6M)	Caution	Band width was at the 4th percentile of the last six months. A squeeze like this often precedes a larger move (direction unknown). How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹242.58 (3.3% of price)	Neutral	A typical day's range was about ₹242.58, or 3.3% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	31.0% vs 1Y 42.3%	Neutral	Annualised 30-day volatility was 31.0%, below the one-year level of 42.3%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	7,198.16–8,138.54	Neutral	The close was inside the channel, so no volatility breakout. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	1.42	Neutral	A beta of 1.42 means the stock tended to move more than the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 0.59× / 5-day 0.83×	Neutral	The final session traded 0.59× its 20-day average volume and the last five sessions averaged 0.83× — normal participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 1.16	Bullish	Average volume on up days was 1.16× that on down days — accumulation-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV rising	Bullish	OBV rose over the month while price fell — volume diverged from price. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	falling (20d)	Bearish	The A/D line fell, meaning closes tended to be in the lower part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	-0.14	Bearish	CMF at -0.14 indicated net outflows. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	59.8	Bullish	MFI, a volume-weighted RSI, was 59.8. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹204 cr/day	Neutral	About ₹204 crore changed hands per day on average over 20 sessions — liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	7,374.70 / 7,164.50 / 6,969.50	Neutral	Nearest support (prior swing lows) sat at 7,374.70, 0.7% below the close, then 7,164.50, 6,969.50. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	7,500.00 / 7,877.88 / 8,307.36	Neutral	Nearest resistance (prior swing highs) sat at 7,500.00, 0.9% above the close, then 7,877.88, 8,307.36. How to read: Information only.
40	Monthly pivot points (for next month)	P 7,628.33 \| R1 7,896.67 \| S1 7,161.67	Neutral	Classic pivots from July's high/low/close gave a pivot of 7,628.33; the close was below it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 8,131 \| 38.2% 7,609 \| 50.0% 7,187 \| 61.8% 6,766	Neutral	Measuring the 6-month rise from 5,400.50 to 8,974.00, the close was nearest the 38.2% retracement at 7,608.92. How to read: Information only.
42	52-week high / low	H 8,974.00 / L 5,400.50	Neutral	The close was 17.2% below the 52-week high and 37.6% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	3 open; latest gap-up 21 May at 7,117.50	Neutral	There were 3 unfilled gap(s). The latest, a gap-up on 21 May 2026, left an open level at 7,117.50 that price had not revisited. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	rising channel	Bullish	Rule-based pattern scan: rising channel — successive higher highs and lows. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 7,380.00–8,095.00	Neutral	The close was inside the prior 20-day range of 7,380.00–8,095.00. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Ordinary red candle	Neutral	On 23 Jul the candle opened 7,470.00, ranged 7,360.00–7,500.00 and closed 7,430.00: Ordinary red candle. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 7,547.00–7,684.00; Tenkan 7,727.50 / Kijun 7,789.00	Bearish	Price was below the cloud and the Tenkan line was below the Kijun line — a bearish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M -4.8% / 3M -2.7%	Bearish	The stock underperformed the Nifty 50 by 2.7 points over three months and underperformed by 4.8 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty 50 (6M)	6M +28.5%	Bullish	No sector index in today's data set, so we show the 6-month comparison instead: 28.5 points ahead of the Nifty 50. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	9 bullish · 16 bearish · 21 neutral · 3 caution	Bearish	Across the 49 readings the technical picture leaned negative. Levels that mattered: support 7,374.70, resistance 7,500.00. This is a description of the chart on 23 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 23 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Jun 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 23 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	115.7×	Neutral	At ₹7,430.00 the market valued the company at about ₹26,207 crore, or 115.7× the ₹226 crore profit of the four quarters to Mar 2026. That is a premium multiple — the market expected growth. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	5.99×	Neutral	Market cap was 5.99× the Mar 2026 book value (equity + reserves) of ₹4,372 crore. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Sales	2.15×	Neutral	The company was valued at 2.15× its trailing-12-month sales of ₹12,186 crore. How to read: Information only.
4	EV / EBITDA (approx.)	33.5×	Neutral	Enterprise value (market cap + ₹2,702 cr borrowings; cash not netted) was 33.5× trailing operating profit of ₹862 crore. How to read: Information only. Lower means cheaper relative to operating profit.
5	Earnings yield	0.9%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹0.9 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	10.26	Caution	P/E of 115.7 divided by 3-year profit growth of 11.3% a year gives a PEG of 10.26. Below 1 is often read as growth being cheaply priced; above 2 as expensive. Note: the Mar 2026 quarter carried unusual other income of ₹84 crore — a one-off that distorts year-on-year profit comparisons. Note: revenue jumped more than 40% in Mar 2023, Mar 2025, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	n/a	Neutral	Dividend history in our data window was not available. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹26,207 cr	Neutral	At about ₹0.26 lakh crore the company was a small-cap. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	₹1,338.12 vs ₹7,430.00	Neutral	Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹1,338.12; the price was 455% above it. Quality franchises usually trade above this number. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	+22.2%	Bullish	Revenue for FY26 was ₹12,186 crore, +22.2% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	+10.5%	Bullish	The Jan–Mar 2026 quarter brought ₹4,148 crore of revenue, +10.5% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	-10.0%	Caution	FY26 net profit was ₹226 crore, -10.0% on FY25's ₹251 crore. Note: the Mar 2026 quarter carried unusual other income of ₹84 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	+36.8%	Caution	Quarterly profit was ₹162 crore versus ₹118 crore a year earlier (+36.8%). Note: the Mar 2026 quarter carried unusual other income of ₹84 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	20.7%	Caution	Revenue compounded at 20.7% a year from FY23 to FY26. Note: revenue jumped more than 40% in Mar 2023, Mar 2025, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	11.3%	Neutral	Net profit compounded at 11.3% a year from FY23 to FY26. Note: the Mar 2026 quarter carried unusual other income of ₹84 crore — a one-off that distorts year-on-year profit comparisons. Note: revenue jumped more than 40% in Mar 2023, Mar 2025, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	32.1%	Caution	Over five years (FY21–FY26) revenue compounded at 32.1% a year. Note: revenue jumped more than 40% in Mar 2023, Mar 2025, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	-29.9%	Caution	Reported EPS went from ₹72.01 to ₹50.48 (-29.9%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Note: the Mar 2026 quarter carried unusual other income of ₹84 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Operating margin FY26	7%	Neutral	Operating profit (EBITDA) was 7% of sales in FY26 versus 7% in FY25. How to read: Information only — normal margins differ a lot by industry.
19	Operating margin trend (4 quarters)	7% → 5% → 8% → 7%	Neutral	Quarterly margins moved from 7% to 7% over the last four quarters — broadly stable. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral when broadly stable.
20	Net profit margin FY26	1.9%	Neutral	₹1.9 of every ₹100 of revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	6.8%	Bearish	FY26 profit was 6.8% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	ROCE FY26	10%	Neutral	Return on capital employed (debt + equity) was 10% in FY26. Bullish above 20% · Bearish below 10% · Neutral 10–20%.
23	Return on assets FY26	1.64%	Neutral	Net profit was 1.64% of total assets. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	33%	Neutral	The company paid about 33% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Other income share of pre-tax profit	24%	Neutral	Non-operating 'other income' of ₹79 crore made up 24% of pre-tax profit. How to read: Caution above 25% (headline profit leans on non-core income). Neutral otherwise.

D. Balance sheet

#	Point	Reading	Tag	Commentary
26	Debt / equity	0.62	Neutral	Borrowings of ₹2,702 crore were 0.62× equity — moderate leverage. Bullish below 0.3 (very low leverage) · Bearish above 1 (high leverage) · Neutral 0.3–1.
27	Debt / EBITDA	3.12×	Bearish	Debt equalled 3.12 years of FY26 operating profit. Bullish below 1× · Bearish above 3× · Neutral 1–3×.
28	Interest coverage	2.2×	Bearish	Earnings before interest and tax covered interest cost 2.2 times. Bullish above 8× · Bearish below 3× · Neutral 3–8×, or not meaningful when interest is negligible.
29	Book value growth	+91.3%	Bullish	Shareholders' equity grew +91.3% from ₹2,286 crore to ₹4,372 crore in FY26. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.
30	Capital work in progress	₹746 cr (13% of fixed assets)	Neutral	Projects under construction (CWIP) were 13% of fixed assets — a modest pipeline. How to read: Information only. Above 20% means a big expansion pipeline that is not yet earning.
31	Working capital days	8 days	Neutral	Working capital tied up equalled 8 days of sales (FY25: -28). Negative means suppliers/customers fund operations. How to read: Information only. Lower is generally more efficient; negative means suppliers or customers fund the business.
32	Cash conversion cycle	53 days	Neutral	It took 53 days to turn inventory and receivables into cash, net of supplier credit. How to read: Information only. Shorter is generally better.
33	Debtor days	67 (FY25 64)	Neutral	Customers took 67 days on average to pay, versus 64 a year earlier. How to read: Caution when debtor days rose more than 20% in a year (collections stretching). Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹240 cr	Neutral	The business generated ₹240 crore of operating cash in FY26 versus ₹711 crore in FY25. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Free cash flow FY26	₹-1,048 cr	Bearish	After capital spending, free cash flow was ₹-1,048 crore. Bullish positive · Bearish negative · Neutral when not available.
36	Cash conversion (CFO ÷ net profit)	1.06×	Bullish	Operating cash flow was 1.06× reported profit — profits were well backed by cash. Bullish above 1× (profits well backed by cash) · Caution below 0.7×. Neutral 0.7–1×.
37	Free-cash-flow yield	-4.0%	Neutral	FY26 free cash flow was -4.0% of the snapshot market cap. Bullish above 4% · Neutral at 4% or less.
38	Free cash flow — 3-year total	₹-326 cr	Bearish	Free cash flow over FY24–FY26 added up to ₹-326 crore. Bullish positive total · Bearish negative total · Neutral when not available.
39	Capex FY26 (CFO – FCF)	₹1,288 cr	Neutral	Implied capital expenditure was about ₹1,288 crore, 10.6% of sales. How to read: Information only.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	0%	Neutral	The company paid out about 0% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	0% / 0% / 0%	Neutral	Payout ratios for FY24 / FY25 / FY26 — dividends were irregular. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+2.9%	Caution	Paid-up equity capital changed +2.9% (₹34 cr → ₹35 cr). A fall indicates a buyback; a rise indicates new shares were issued. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	38.09% (-1.56 pts YoY)	Bearish	Promoters owned 38.09% at Jun 2026 versus 39.65% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	20.47% (-8.12 pts YoY)	Bearish	FIIs held 20.47% at Jun 2026, down from 28.59% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	30.54% (+12.72 pts YoY)	Bullish	Mutual funds, insurers and other DIIs held 30.54%, up from 17.82%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	1.2 lakh (-9.9% YoY)	Neutral	The shareholder count moved from 1.3 lakh to 1.2 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	6/8	Neutral	Passed: positive profit, positive operating cash flow, CFO > net profit, leverage fell, operating margin improved, no meaningful dilution (<3%). Failed: ROA improved, asset turnover improved. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	1 strength(s) · 3 weakness(es)	Neutral	Strengths: Company's median sales growth is 34.4% of last 10 years. Weaknesses: Stock is trading at 4.83 times its book value; Though the company is reporting repeated profits, it is not paying out dividend; Company has a low return on equity of 7.73% over last 3 years. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	5 bullish · 7 bearish · 30 neutral · 7 caution	Neutral	On the numbers published by 23 Jul 2026 the fundamental picture was mixed. Valuation: P/E 115.7×, P/B 5.99×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 23 Apr 2026 – 23 Jul 2026 that an investor could have known on the snapshot date.

16 May 2026 Amber Enterprises Q4 Net Profit Jumps 15.5% to ₹134 Cr Amid Robust Revenue Expansion — Q4 FY26 consolidated revenue ₹4,147 Cr (+10.5% YoY); article reports net profit ₹134 Cr (+15.5%), citing volume growth and mix shift to electronic components. source
18 May 2026 Why Amber Enterprises shares crashed after Q4 results: What worried the Street? — Stock fell ~16.8% on May 18 despite headline beat; adjusted profit down 39% YoY due to heavy JV losses from legacy contracts and a major customer suspending invoice payments (per MOFSL). source
18 May 2026 Amber Enterprises Share Price Stumbles 16% After Management Flags Margin Pressure Ahead — Management guided 50-100 bps consolidated margin compression; weak RAC margins on high copper prices, Shivalik impairment and JV losses weighed, while electronics and railway segments grew. source
06 Jun 2026 Amber Enterprises forms JV for medical and defence electronics — Subsidiary IL JIN Electronics incorporated ILJIN Technologies (60:40 with Singularity Des Electronics) on June 4 to target healthcare, defence and aerospace electronics. source
18 Jun 2026 Amber Enterprises Moves Closer to Full Ownership of PCB Maker Ascent Circuits; Shares Up 1% — IL JIN Electronics to buy additional 38.5% of Ascent Circuits for ₹336.75 Cr, raising stake from 60% to 98.5%. source
26 Jun 2026 Amber Group partners with Schweizer and breaks ground in UP — IL JIN Electronics partnered with Germany's Schweizer Electronic for multilayer PCBs; Ascent-K Circuit groundbreaking for a new plant near Noida on June 27. source

What happened next (23 Jul 2026 → 23 Oct 2026)

Price went from ₹7,430.00 to ₹6,004.50 by 23 Oct 2026 (-19.2%) while the Nifty 50 moved -5.3% — underperforming by 13.9 points.
Highest ₹7,794.00 on 28 Aug 2026; lowest ₹5,911.50 on 23 Oct 2026.
S1 7,374.70: broken on a closing basis on 24 Jul 2026.
S2 7,164.50: broken on a closing basis on 10 Aug 2026.
R1 7,500.00: cleared on a closing basis on 05 Aug 2026.
R2 7,877.88: not cleared on a closing basis.
200-day SMA: price was above it at the snapshot and crossed below on 24 Jul 2026.
Apr–Jun 2026 results (reported 13 Aug 2026): revenue ₹3,888 crore (+12.7% YoY), net profit ₹3 crore (-97.1% YoY), operating margin 8% vs 7% a year earlier (Screener consolidated figures).

Later news

14 Aug 2026 Amber Enterprises Reports Q1 Consolidated PBT of ₹166 Crore Amid ₹122 Crore Exceptional Item — Q1 FY27 revenue ₹3,888 Cr (+13% YoY); PBT before exceptionals ₹166 Cr; ~₹122 Cr exceptional charge cut statutory profit; management flagged margin pressure through H1 FY27. source
14 Aug 2026 Amber Enterprises (NSE:AMBER): what did the board approve at its August 2026 meeting — Board meeting on 13 Aug 2026 approved Q1 FY27 results, appointed Sudhir Goyal as CFO of IL JIN Electronics, recommended two independent directors for second terms and approved the 36th AGM notice. source
15 Aug 2026 Amber Enterprises Q1FY27 profit falls 97% on loss — Reported consolidated PAT ₹3.09 Cr (-97% YoY) due to ~₹123 Cr exceptional loss linked to Ascent Circuits acquisition; adjusted PAT ₹126 Cr (+19%); net debt rose to ~₹1,225 Cr at June-end from ~₹510 Cr in March. source
25 Aug 2026 Amber Enterprises India: Sets Book Closure and Record Dates for 36th AGM — 36th AGM on 16 Sep 2026 (virtual); record date 7 Sep, book closure 8-16 Sep; no dividend mentioned. source

Educational summary. On 23 Jul 2026 the technical picture leaned negative and the fundamental picture was mixed. Over the next three months the stock moved -19.2% against -5.3% for the Nifty 50. Here the chart's message lined up with what followed. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Amber Enterprises India today.

Method designed by our founder, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 26 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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