Anand Rathi's research report on Endurance Technologies
For Endurance Technologies, strong top line performance is attributable to consistent improvement in the two wheeler segment on a yearly basis. The company continues to build its order book toward IC and EV applications. It commenced supplies to a new EV OEM for BMS, which was recently developed through its Maxwell acquisition. With the expected revival in two-wheeler offtake, we expect growth.
Outlook
Accordingly, we maintain a Buy rating at a revised TP of Rs1,700 (25x FY25e).
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