Buy Endurance Technologies; target of Rs 1919: Prabhudas Lilladher
Prabhudas Lilladher is bullish on Endurance Technologies has recommended buy rating on the stock with a target price of Rs 1919 in its research report dated February 10, 2022.
Earnings Call for Q3FY22 of Endurance Technologies
Conference Call with Endurance Technologies Management and Analysts on Q3FY22 Performance and Outlook. Listen to the full earnings transcript.
Endurance Technologies slips 8% as Q3 profit halves to Rs 95 crore
The management said the market, this year, is subdued with headwinds in the form of weak rural demand and higher cost of ownership
Q3FY22 Quarterly Result Announced for Endurance Technologies Ltd.
Auto Parts & Equipment company Endurance Technologies declares Q3FY22 result: Q1 of the last year was impacted by the prolonged suspension of operations due to the Covid-19 pandemic. This had an adverse impact on the YTD December numbers of last year, despite very strong two-wheeler demand in Q3. This year also, Q1 saw low offtake by OEMs as distribution networks were impacted due to the second wave of infections. Consolidated Total Income including Other Income for the first nine months of this year rose by 23.9% YoY, to INR 54,987 million vs. INR 44,380 million. Q3 registered a de-growth of 7.3%. In these nine months, 76% of Consolidated Total Income including Other Income came from Indian operations and the balance came from European operations. Standalone Total Income including Other Income for the nine months grew by 30.5% YoY, to INR 41,574 million vs. INR 31,851 million, while Q3 saw a small degrowth. Consolidated EBITDA Margin for YTD December this year was 13.4% vs. 16.5% last year. Consolidated PAT at INR 3,245 million for YTD December 2021 was 2.3% lower than last year level of INR 3,323 million. In Q3, standalone PAT fell by 41.6% YoY and consolidated PAT by 50.2%. Aftermarket sales from Indian operations rose 49.9% to INR 2,874 million in YTD December of this year vs. INR 1,917 million in the corresponding period of last year. Consolidated Basic and Diluted EPS for these nine months stood at INR 23.07 per share (not annualised) compared to INR 23.62 per share (not annualised) in the corresponding period of the previous financial year. Commenting on the Company’s performance, Mr. Anurang Jain, Managing Director of the Company said: “In terms of YOY change in the number of two-wheelers sold by Indian OEM5, Q3 saw a drop of 19.7%. In FY21, post the lockdowns, the two-wheeler market saw excellent demand in Q3, which resulted from pent-up demand and a strong preference for personal mobility. On the other hand, the market this year is subdued with headwinds in the form of weak rural demand and higher cost of ownership. Endurance standalone revenues in Q3 this year declined 2.5% compared to the same quarter last year. In the EU (including UK), the number of new car registrations was down by 23.4% YQY in Q3. The European automotive market has been deeply impacted by semi-conductor shortages and soaring energy prices. In Euro terms, our Q3 revenues this year were lower than last year by 19.4%. All the large 2W QEM5 in the country have placed their confidence in our ability to deliver solutions for safety-critical braking components. During 2021, we have added multiple facilities to augment our manufacturing capabilities in brakes. In December 2021, we commenced operations at our second brakes plant in Aurangabad. We also introduced Grimeca brakes in the Indian market. In September, we had commenced production of ABS modulators. Earlier in the year, we had implemented a backward integration project to manufacture wire braided hoses for brake assemblies. Apart from such infrastructure creation in Aurangabad, we had also added manufacturing / integration facilities in Pantnagar and Chennal. During the quarter, we acquired 100% stake in Veicoli SrI, Italy. Veicoli enables fleet operators to increase route efficiency, enhance safety, optimise maintenance activity and reduce fuel costs. These benefIts are derived by monitoring vehicle movement, engine parameters and driving habits on Veicoli’s software platform. Through this acquisition, we seek to expand our innovative solutions offerings in the mobility sector in Europe. During Q3, our factories in India and Europe did not face any government mandated lockdowns. We continue to take measures to ensure a safe workplace for our people.” Result PDF Endurance Technologies Ltd - 540153 - Results For The Quarter And Nine Month Period Ended 31St December, 2021
We inform you that the Board of Directors of the Company, at its meeting held today i.e. 8th February, 2022, has approved the unaudited financial results, both standalone and consolidated, for the quarter and nine month period ended 31st December, 2021 ('Financial Results') of the financial year 2021-22. Pursuant to above-referred regulations, we enclose the following documents: a) Statement of Financial Results; b) 'Limited Review' reports of the Statutory Auditors on the aforesaid Financial Results; and c) Press Release giving highlights of the Financial Results. The meeting commenced at 2.00 p.m. and concluded at 6.45 p.m. The above information will be made available on the website of the Company www.endurancegroup.com. Endurance Technologies Ltd - 540153 - Board Meeting Outcome for Outcome Of Board Meeting Held On 8Th February, 2022
We inform you that the Board of Directors of the Company, at its meeting held today i.e. 8th February, 2022, has approved the unaudited financial results, both standalone and consolidated, for the quarter and nine month period ended 31st December, 2021 ('Financial Results') of the financial year 2021-22. Pursuant to above-referred regulations, we enclose the following documents: a) Statement of Financial Results; b) 'Limited Review' reports of the Statutory Auditors on the aforesaid Financial Results; and c) Press Release giving highlights of the Financial Results. The meeting commenced at 2.00 p.m. and concluded at 6.45 p.m. The above information will be made available on the website of the Company www.endurancegroup.com. Endurance Technologies Ltd - 540153 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
This has reference to our letter dated 11th January, 2022 informing that a Board meeting of the Company is scheduled on 8th February, 2022 to, inter alia, consider and approve the unaudited financial results (both standalone and consolidated) for the quarter and nine month period ended 31st December, 2021. In terms of the referred Regulation 30 read with Schedule III - Part A to the Listing Regulations, we inform you that a conference call for institutional investors / analysts is scheduled on 9th February, 2022 at 11:00 a.m. (IST) to discuss the above financial results. Details of the conference call are enclosed. You are requested to take this intimation on record. Endurance Technologies Ltd - 540153 - Announcement under Regulation 30 (LODR)-Credit Rating
Pursuant to the above-referred regulation, we inform that CRISIL Ratings Limited (a subsidiary of CRISIL Limited), a credit rating agency registered with the Securities and Exchange Board of India, has reaffirmed the following credit rating for availing credit facilities from banks and issuance of Commercial Papers by the Company, details of which are enclosed. We request you to take the same on record. Endurance Technologies Ltd - 540153 - Board Meeting Intimation for Approval Of Unaudited Financial Results For The Quarter And Nine Month Period Ended 31St December, 2021 And Closure Of Trading Window
Endurance Technologies Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 08/02/2022 ,inter alia, to consider and approve the unaudited financial results (both standalone and consolidated), for the quarter and nine month period ended 31st December, 2021. As informed vide our communication dated 24th December, 2021, the trading window for dealing in securities of the Company has been closed from Friday, 31st December, 2021 and shall remain closed till 48 hours after the announcement of financials results i.e. up to Thursday, 10th February, 2022 (both days inclusive). You are requested to take note of the above. Endurance Technologies Ltd - 540153 - Shareholding for the Period Ended December 31, 2021
Endurance Technologies Ltd has submitted to BSE the Shareholding Pattern for the Period Ended December 31, 2021. For more details, kindly Click here