Buy Endurance Technologies; target of Rs 1625: Motilal Oswal

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26 Aug, 2025 12:21

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Motilal Oswal's research report on Endurance Technologies

3QFY23 consolidated performance was affected due to tepid India business growth trajectory, led by weakness in 2Ws. EU business demonstrated improvement, on the back of better supplies and compensation for cost inflation, but the outlook remains uncertain due to inflation and high interest rates.

Outlook

We have cut our FY23E/FY24E EPS estimates by 5%/5.5% to account for weakness in the India business. We reiterate our Buy rating with a TP of INR1,625 (27x Dec’24E EPS).

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Endurance Technologies - 10 -02 - 2023 - moti