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Endurance Tech: India business leads from the front, outlook sunny

The company has a stellar financial record while new businesses and product addition provide key growth triggers

December 02, 2022 / 03:55 PM IST
Endurance Tech: India business leads from the front, outlook sunny

Endurance Technologies: Endurance Technologies Q2 profit falls 1.4% YoY to Rs 131.5 crore on higher input cost, other expenses. Revenue up 25%. The company recorded consolidated profit at Rs 131.5 crore for the qurater ended September FY23, down 1.4% compared to year-ago period, hit by higher input cost, and other expenses. Consolidated revenue from operations grew by 25% to Rs 2,360.6 crore compared to same period last year.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights India business posted strong numbers in Q2 FY23 The impact of semiconductor chip shortage and RM prices is waning Strong order pipeline gives earnings visibility New business, addition of products key growth triggers Trades at a discount to long-term average valuation Endurance Tech (CMP: Rs 1,505; M Cap: Rs 21,160 crore) has posted a decent set of numbers in Q2 FY23, driven by its India business. We believe the company is a global force in aluminium casting (including alloy wheels), suspension, transmission, and braking products....

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