Fundamental Analysis
ENDURANCE TECHNOLOGIES LTD
Ticker : 540153
BUY : Rs 1,190.00
Target : Rs 1,320
Endurance Technologies is a manufacturer of automotive components. It has a diverse range of technology intensified products with operations in India and Europe. The company predominantly caters to two and three-wheeler OEMs and its products include aluminium castings, suspensions, transmission & braking systems. On a consolidated quarterly front, its net sales declined by 0.06 per cent in Q2FY21 to Rs 1,770.15 crore from Rs 1,771.26 crore in Q2FY20. The company reported an operating profit of Rs 320.33 crore in Q2FY21, up by 5.9 per cent from Rs 302.49 crore reported in Q2FY20. The net profit decreased by 1.14 per cent from Rs 169.08 crore reported in Q2FY20 to Rs 167.15 crore reported in Q2FY21. Presently, the company is focussing on garnering new business. It has secured new orders during the first half of the year, both in India and Europe. The company is offering incentives for boosting retail demand for cars in several European countries. Hence, we recommend BUY.