BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Endurance Technologies Ltd. Q2 FY23 reported numbers are not comparable YoY/QoQ due to consolidation of Maxwell Energy Systems Pvt. Ltd.'s financials. Despite, we note consolidated Q2 FY23 results were a mixed as standalone performance came in line with estimates across parameters.
However, European business (adjusted for Maxwell in consolidated) remained weak significantly impacted by steep energy cost inflation (impact of €1.9 million in Q2 FY23 and €3.6 million in H1 FY23).
New order wins of Rs 6.9 billion/€25 million in South Africa/Europe is healthy in H1 FY23 (versus Rs 4.8 billion/€14.3 million in Q1 FY23 and Rs 7.5 billion/€71 million in FY22) is key positive.
Endurance Technologies' recent acquisition Maxwell energy electric vehicle specific orders at Rs 1.75 billion (including recent order wins of Rs 700 million from Hero Electric) and active lead pipeline of Rs 1.25 billion orders.
Near‐term challenges withstanding, we believe Endurance Technologies should continue to outperform industry growth.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
