Endurance Technologies Limited is an Indian automotive component manufacturing company, based in Aurangabad, India. It manufacturers aluminium castings, along with suspension, brake, and transmission products.Market Capitalisation
The market capitalisation of Endurance Technologies Limited, as of August 10, 2018, was a little over Rs.20,000 crore.
Company’s Wealth and Recent Performance
- For the Q1 FY19, Endurance Technologies Limited reported its standalone total income to be at Rs.1,317.7 crore - an increase of over Rs.100 crore in the revenues reported for the same quarter last year. Consequently, its net profit for the period grew to Rs.90 crore from Rs.67.9 crore reported at the end of June quarter, FY18.
- Considering the consolidated performance of the company, the total income of Endurance Technologies Limited improved by around Rs.200 crore to stand Rs.1,864.5 crore at the end of June 30, 2018. Similarly, its total profit for the period also grew by 29% y-o-y to Rs.124 crore.
- The consolidated earnings per share of the company for the quarter stood at Rs.8.86 as against Rs.6.86, reported for the same quarter of the previous fiscal year.
Endurance Technologies Limited Stock Trends in 2018
- On January 2, 2018, the opening price of Endurance Technologies Limited shares was Rs.1,360 on the NSE. Over the course of the month, the stocks moved on to shed a little over 10% and descend into the Rs.1,100 territory. As a result, the closing price of the shares on January 31, 2018, was Rs.1,194.85.
- After starting the month of February on a dull note, the investors were taken by surprise when the shares made an excellent recovery and retreated back to their previous levels at Rs.1,360. It is interesting to note that Endurance Technologies Limited shares were among the few stocks that went upward in February.
- A similar trend was seen in the months of March and April as well. In March, the share price of Endurance Technologies went down once again and entered the Rs.1,100 region. Again, in April, the prices recovered to ascend back to their previous levels.
- The months of May and June were fairly uneventful. The stocks didn’t make any steady gains as the share price mostly fluctuated at levels varying from Rs.1,240 - Rs.1,290. Things were the same in the first half of July as well. In the second half, however, the scrip commenced a bull-run that is continuing well into August. This rise was driven by the excellent Q1 FY19 results of the company.
- On July 31, 2018, the closing price of Endurance Technologies Limited was Rs.1,387.35. In early August, the scrip hit its 52-week high at Rs.1,578.80.
Endurance Technologies Limited Stock Trends in 2016 and 2017
- Endurance Technologies Limited made its initial public offer in late October 2016, following which the equity shares were made available to the general public for trading. The scrip made its debut on the NSE and BSE at levels close to Rs.630.
- Through the course of November 2016, the stock price of Endurance Technologies Limited went down to descend into the Rs.500 territory. Similar was the case through most of December as well, with the shares trading at levels close to Rs.560. The closing price of the scrip on December 30, 2016, was Rs.576.75.
- 2017 proved to be a stellar year for the investors. The stock price of Endurance Technologies Limited moved on to deliver excellent returns over the course of the year. The scrip commenced the year at levels close to Rs.570 on the National Stock Exchange. By the end of the month, the shares had ascended into the Rs.600 territory. The price continued to rise steadily through February and March, with the scrip eventually crossing the Rs.700 mark. The closing price of shares at the end of March was Rs.768.50.
- The stock continued to be bullish in April as well. The shares continued to head upwards and by mid-April, they had soared into the Rs.800 territory. The prices stabilised slightly in the month of May, with the shares trading hands at levels varying from Rs.790 - Rs.820. In June, the share price of Endurance Technologies Limited spiked to cross the Rs.900 mark.
- Towards the end of the month, however, the scrip lost 5% and went down to be traded at its previous levels at Rs.870. In the second half of July, the company announced a final dividend of 25% and as a result, the shares, once again, ventured into the Rs.900 region. By mid-August, the shares crossed the psychological barrier of Rs.1,000, although it wasn’t until September that the stocks found a steady heading at those levels.
- In the final quarter of the calendar year, the stock moved on to deliver returns more than 30%. In early October, the Endurance Technologies Limited stock price was around Rs.1,000. The same, by late December, was varying at levels close to Rs.1,350. On December 29, 2017, the closing price of the company’s stock was Rs.1,363 on the NSE.
Should you invest in Endurance Technologies Limited?
- Endurance Technologies Limited is an automotive ancillary company which specialises in manufacturing parts for two-wheelers and three-wheelers. It is the largest aluminium die casting manufacturer in India. In addition to this, it is also a leading manufacturer of transmission, suspension, and brake systems. The company boasts of 18 plants in India and 8 plants in Europe.
- For the quarter ended on June 30, 2018, Endurance Technologies Limited reported its consolidated total income to be at Rs.1,864.5 crore and its net profit for the period to be at Rs.124 crore. Both the figures mark a significant increase with respect to the numbers reported for the June quarter of the previous year.
- Furthermore, for the FY2017-18, the company reported its total revenue to be at Rs.6,552 crore, as against a revenue of Rs.5,659 crore reported for the previous fiscal year. Similarly, its consolidated net profit improved by a little over 15% y-o-y to stand at Rs.390 crore on March 31, 2018.
- The sound financial performance of the company is also reflected in its stock prices. Since its listing on the NSE and BSE in late 2016, the stock price of Endurance Technologies Limited has moved up to deliver excellent returns. Over the course of 2017, the shares gained more than 100% to end the year on a high. In 2018, the scrip has been quite bearish, making it an attractive buy for many investors. In early August 2018, the stocks hit their 52-week high at Rs.1,579 on the BSE.
- It is a good stock to have as a part of a diversified portfolio. At the same time, there are other companies in the sector which are performing well and are available at lower prices. Whatever may be the case, it is strongly recommended that you do your own research before investing.
Endurance Technologies Limited is an automotive ancillary company focussed solely on manufacturing parts for two and three-wheelers. It specialises in manufacturing intricate castings through the aluminium die casting process. In addition to this, Endurance Technologies also produces suspension and transmission products such as shock absorbers, clutch assemblies, et cetera for scooters, motorcycles, and three-wheelers. Lastly, the company is also actively involved in manufacturing brake systems for two-wheelers, three-wheelers, and Light Commercial Vehicles (LCVs).
History of the Company
The origin of the company can be traced back to the year 1985, when the company established its first manufacturing facility in Aurangabad. It started its operations by working solely on aluminium die-casting. In the late 1990s, the company diversified its operations by moving into manufacturing suspension products and transmission products. In 2004, the company commenced the production of disc brake assemblies. In 2007, it forayed into the international markets starting with the acquisition of Endurance Amann in Germany. In 2009, the company entered into a joint venture agreement with Magneti Marelli, SpA, Italy. Over the course of the years, the company strengthened its operations and consolidated its position in the European market.
Management of the Company
Mr. Anurang Jain - Managing Director
Mr. Anurang Jain presently serves as the Managing Director of Endurance Technologies Limited - a position he has held since March 2006. In addition to this, he also serves as the Director of the company. He has been a part of the automobile components industry for more than 30 years now and has been associated with Endurance Technologies since 1999. Furthermore, he serves as the Chairman of the Advisory Board at Endurance Amann GmbH, Germany. Mr. Jain obtained holds an MBA which he obtained from the University of Pittsburgh.
Mr. Ramesh Gehaney - Executive Director and Chief Operating Officer
Mr. Ramesh Gehaney presently serves as the Executive Director and COO of Endurance Technologies Limited. He was appointed to this position in June 2016 and one of his key responsibilities includes overseeing the manufacturing operations of the company. Mr. Gehaney has been associated with Endurance Technologies for more than 12 years now. He has been a part of the automobile industry for more than 20 years now and has held various key positions during his tenure with Endurance Technologies. Some of these positions include serving as the Vice President of Operations and as the Senior Vice President of Proprietary Business.
Mr. Satrajit Ray - Executive Director and Group Chief Financial Officer
Mr. Satrajit Ray is the Executive Director and the Group’s Chief Financial Officer. He was appointed to the two positions respectively in June 2014 and April 2010. Prior to joining Endurance Technologies, Mr. Ray served as the Vice President of Finance at Hindalco Limited, where he was primarily assigned to the company’s aluminium business. He also served as the company’s Finance Controller. He is a qualified Chartered Accountant who obtained his Bachelor’s degree in Commerce from the University of Calcutta.
Endurance Technologies Limited Stock Listings in NSE, BSE, and Indices
The equity shares of Endurance Technologies Limited are available to the general public for trading on the following stock exchanges - the National Stock Exchange of India Limited and the Stock Exchange, Mumbai. The call signs for the same are as follows:
- NSE Code: ENDURANCEEQ
- BSE Code: 540153
- ISIN: INE913H01037
- Sector: Auto Ancillaries, 2&3 Wheelers
Coming to the stock market indices, the company is a part of the following:
- Nifty 500
- Nifty 200
- Nifty Full Midcap 100
- Nifty Midcap 100
- Nifty LargeMidcap 250
- S&P BSE 200
- S&P BSE 500
- S&P BSE AllCap
- S&P BSE MidCap
- S&P BSE Momentum
Endurance Technologies Limited
E-92, MIDC Industrial Area
Maharashtra, India - 431136
Contact number: +91-240-2569600
Email Id: email@example.com
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