Motilal Oswal has buy call on with a target price of Rs 1750. The current market price of Endurance Technologies Ltd. is Rs 1389.25.
Endurance Technologies Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 19675.92 Crore) operating in Auto Ancillaries sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2139.77 Crore, up 4.55 % from last quarter Total Income of Rs 2046.70 Crore and up 32.56 % from last year same quarter Total Income of Rs 1614.20 Crore. Company reported net profit after tax of Rs 187.29 Crore in latest quarter.
Investment Rationale
ENDU is the best proxy on the Indian 2W industry, with scope for an increase in content, led by technological changes and new products. Coupled with its knowledge of aluminum die-casting in the EU, the brokerage believes there is scope to increase contribution from the PV segment. The stock trades at 28.1x/22.5x FY22/FY23E consol. EPS. The brokerage maintains Buy, with TP of INR 1,750 (28x Mar’23E consol. EPS).
Promoter/FII Holdings
Promoters held 70.5 per cent stake in the company as of March 31, 2021, while FIIs held 9.9 per cent, DIIs 13.5 per cent and public and others 1.6 per cent.
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