Endurance Technologies Ltd - 540153 - Submission Of Machine-Readable Copy Of Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2023 Along With Limited Review Report Thereon.
Submission of machine-readable financial results for the quarter and half year ended 30th September, 2023 along with limited review report thereon.
Endurance Tech: Robust order book, pick-up in domestic business
The company's strong foothold in the Indian 2W segment, emphasis on EVs, and favourable market conditions position it as a compelling player in the automotive industry.
Endurance Tech listed as top pick of the week' by Axis Securities key reasons
The brokerage has a buy' recommendation on Endurance Tech with a target price of 1,845, indicating an upside of 10 percent from its current market price of 1,679.70. Endurance Technologies Ltd - 540153 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Intimation of a telephonic/virtual meeting with a group of Analysts/Institutional Investors. Endurance Technologies Ltd - 540153 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Intimation of multiple one-on-one meetings with Analysts / Institutional Investors. Endurance Technologies Ltd - 540153 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Intimation of multiple one-on-one meetings with Analysts / Institutional Investors. Endurance Technologies Ltd - 540153 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Enclosed is transcript of conference call Endurance Technologies Ltd - 540153 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Intimation of meeting with Analyst / Institutional Investors H1FY24 Bi-Annual Result Announced for Endurance Technologies Ltd.
Auto Parts & Equipment company Endurance Technologies announced H1FY24 results: Consolidated Total Income, including Other Income, for the period rose by 12% YoY to Rs 50,271 million from Rs 44,876 million. 77% of Consolidated Total Income including Other Income came from Indian operations (including Maxwell) and the balance came from European operations. Standalone Total Income, including Other Income, for the period grew by 8.2%. Consolidated EBITDA Margin was 13.4% vs. 11.7% last year, with margin expansion both in the standalone and the Europe business. Consolidated PAT at Rs 3,181 million was 35.4% higher than last year. Aftermarket sales from Indian operations stood at Rs 2,177 million vs Rs 2,007 million in the corresponding period of last year, with export markets showing signs of recovery. Consolidated Basic and Diluted EPS for the period stood at Rs 22.61 per share (not annualized) compared to Rs 16.70 per share (not annualized) in the corresponding period of last year. Commenting on the company’s performance and recent developments, Anurang Jain, Managing Director of the Company said, “On a YoY basis, Indian two-wheeler sales volumes in Q2FY24 have de-grown by 2.4%. Endurance standalone Total Income rose 3.8% despite lower metal costs. EU new car registration numbers grew by 14.8%. This was significantly on account of the drawdown of vehicle inventory, as is evidenced by Germany's car production growth of 3.7% trailing their new car registration growth of 17.7%. Our European business turnover in Euro terms rose 10.1%. While Indian OEMs sold 24.5 million two-wheelers in FY19, this number had dropped for 3 consecutive years to 18 million in FY22. Thereafter, the industry recorded 8.3% growth in FY23 to reach 19.5 million and has again de-grown in H1FY24. Consumer sentiment is bound to improve in the long run with stabilization on the geo-political front, economic well-being percolating down to the masses, and buyers making their decisions on alternative powertrains. We have increased production capacity in brakes, alloy wheels, and castings to meet the requirements of new customer orders. As demand bounces back, we will also see higher utilization of our suspensions and transmission capacities. In the first 9 months of 2023, the EU car market has seen battery electric vehicle (BEV) penetration of 15%, as against 12% and 9% in the preceding two calendar years. Out of Euro 104 million orders booked by our European subsidiaries in the last 18 months, Euro 60 million is for this growing BEV market. This includes orders for cooling jackets, housings and covers for a German major, housings for another leading German OEM, and also for covers, housings, and spacers from a French/Italian group for PVs and CVs. OEM customers place their trust in Tier-1 companies like ours which can channel technology, operational excellence, and resources to provide them a competitive edge. We too recognize that businesses thrive when their counterparties are capable and growth-oriented, therefore, we have consciously built long-standing relationships with very strong customers and vendors.” Result PDF Endurance Technologies Ltd - 540153 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
We wish to inform you that the audio recording of conference call for analysts / institutional investors held on 9th November, 2023 is available on Company's website at: https://www.endurancegroup.com/wp-content/uploads/2023/11/ENA0820231109149794.mp3