 "Endurance Tech zooms 14%, hits record high on solid Q4, Rs 8.5 dividend")
Endurance Technologies' stock price hit an all-time high of Rs 2,317.5 apiece, soaring 14.2 per cent on the BSE on Friday, after the company reported a robust performance in the March quarter of FY24 (Q4FY24).
At 11:20 AM, Endurance Tech stock was up 9.5 per cent at Rs 2,222 per share as against 0.33 per cent gain in the benchmark S&P BSE Sensex.
During Q4FY24, Endurance Technologies reported a 54 per cent year-on-year (Y-o-Y) jump in net profit at Rs 210.15 crore as against Rs 136.47 crore in Q4FY23.
Operationally, its revenue soared 202. per cent Y-o-Y to Rs 2,685 crore, while Ebitda (earnings before interest, tax, depreciation, and amortisation) rose 36.4 per cent to Rs 389.4 crore.
Its margin expanded 173 basis points to 14.5 per cent during the quarter.
Endurance Technologies also recommended a dividend of Rs 8.50 per equity share of face value of Rs 10 each (85 per cent), for the financial year 2023-24.
More From This Section
That apart, Endurance Technologies won order worth Rs 1,199 crore in India, and worth Euro 31 million in Europe during FY24.
"We expect the order book to grow further with Rs 1,840-crore worth of RFQs under discussion with various customers. We expect FY25 order book at Rs 1,580 crore, FY26 at Rs 2,380 crore, and FY27 at Rs 2,690 crore," the management said in its presentation.
Analysts at Prabhudas Lilladher have given 'Hold' rating to Endurance Technologies stock, valuing it at P/Ex of 31.2x/26.6x on its FY25E/FY26E earnings.
Endurance Technologies is engaged in the business of manufacturing and selling of aluminium die casting (including alloy wheel) suspension transmission and braking products with operations spread across India.
The company has emerged as the largest 2W and 3W auto component manufacturer and the largest aluminium die-casting company in India coupled with a widespread global business in Europe through its overseas subsidiaries in Italy and Germany.
Endurance Technologies is engaged in the business of manufacturing and selling of aluminium die casting (including alloy wheel) suspension transmission and braking products with operations spread across India.
The company has emerged as the largest 2W and 3W auto component manufacturer and the largest aluminium die-casting company in India coupled with a widespread global business in Europe through its overseas subsidiaries in Italy and Germany.