Endurance Technologies shares jump 6% on healthy Q2FY25 results; details

Shares of Endurance Technologies jumped 6.41 per cent to a day's high of Rs 2,533.20 on the NSE during intra-day deals, in an otherwise weak market on Thursday. 

 

The northward movement in the company’s stock price came on the back of company's strong financial results for the second quarter of FY25, reported on November 6, 2024, after market hours. In Q2FY25, Endurance Technologies' consolidated profit after tax (PAT) rose 31 per cent year-on-year (y-o-y) to Rs 202.97 crore from Rs 154.55 crore, the company said in a regulatory filing on the NSE. Endurance Technologies' revenue stood at Rs 2,912.60 crore, up 14.4 per cent y-o-y from Rs 2,547 crore reported in the corresponding quarter of the previous fiscal year. 

 

The company’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) jumped to Rs 382 crore from Rs 318 crore, up 20 per cent y-o-y.

 

Anurang Jain, managing director of the company, said, “Two-wheeler sales volumes for Indian OEMs grew 13.1 per cent y-o-y in Q2FY25; three-wheeler growth stood at 4.9 per cent. Passenger vehicle volumes recorded marginal de-growth in India, while Europe’s new car registrations declined 7.8 per cent. Endurance outperformed the industry by recording topline growth of 16.8 per cent in the standalone business and 6.4 per cent in Euro terms in Europe. In both geographies, we have grown with higher operating margins. Our growth strategy is built on two pillars - building on core strengths and tapping opportunities in new areas."

 

He added, "We will continue to invest judiciously in both these pillars of growth. Currently, we are investing in two greenfield projects in India, several brownfield expansions in India and Europe, backward integration projects, green energy, and a brand new R&D centre for suspensions. We continue to engage with counterparties and intermediaries to pursue technology tie-ups and acquisitions.”

 

Endurance Technologies is one of the leading automotive component manufacturers, offering a diverse range of technology-driven products with operations in India and Europe (Italy and Germany). In India, the company predominantly caters to two- and three-wheeler OEMs, with products including aluminium castings, suspensions, transmissions, braking, and battery management systems. In Europe, it supplies aluminium castings to four-wheeler OEMs and also serves the aftermarket for two-wheeler components.

 

As of November 7, 2024, Endurance Technologies enjoys a market capitalisation of Rs 34,001.02 crore on the NSE. The company is a constituent of the Nifty500 index. 

 

Endurance Technologies shares have a 52-week range of Rs 3,061.30 to Rs 1,572.35 on the NSE.

 

At around 02:14 pm on Thursday, the company’s shares were trading at Rs 2,419.85, up 1.66 per cent on the NSE.

 

Meanwhile, benchmark equity indices BSE Sensex and NSE Nifty50 are trading lower on Thursday. Sensex was at 79,612.27 points, down 765.86 points or 0.95 per cent, while Nifty50 traded 269.60 points or 1.1 per cent lower at 24,214.55 points.