Stocks

Endurance Technologies stocks: Buy Endurance Technologies, target price Rs 1660: Axis Securities

Axis Securities has buy call on Endurance Technologies with a target price of Rs 1660. The current market price of Endurance Technologies is Rs 1430.85. Time period given by analyst is one year when Endurance Technologies Ltd. price can reach defined target.

Endurance Technologies Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 19900.28 Crore) operating in Auto Ancillaries sector.

Endurance Technologies Ltd. key Products/Revenue Segments include Shock Absorbers, Aluminium & Die Casting, Brake Discs, Clutch Assembly (Parts), Alloy Wheels, Others, Components & Spares, Other Operating Revenue, Job Work, Scrap, Export Incentives, Power Generation for the year ending 31-Mar-2022.

Smart Talk

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2118.51 Crore, up 1.29 % from last quarter Total Income of Rs 2091.48 Crore and up 24.15 % from last year same quarter Total Income of Rs 1706.36 Crore. Company reported net profit after tax of Rs 103.38 Crore in latest quarter.

Investment Rationale
The brokerage remains positive about the company’s growth story given that it can ride the premiumization theme along with the 2W industry and its increasing content per vehicle with the introduction of value-added products. Furthermore, the increased focus and traction on EV-related products provide more clarity on the growth in the longer term.


Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 6.43 per cent, DIIs 16.69 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.


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