Endurance Technologies Q4 Results Review - Focus On Improving Product Mix To Drive Growth: Prabhudas Lilladher

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.Endurance Technologies Ltd. consolidated revenue for Q4 FY24 grew by 20.2% YoY, in-line with our estimate/Bloomberg estimates which was led by strong growth across all product verticals. Ebitda grew by significantly by 36.4% YoY while margin expanded by ~170 basis points YoY to 14.5% (our estimate: 12.3%; Bloomberg estimate: 12.5%), owing to better operating leverage as a result of increase in volume, improvement in product mix and a one-time gain. Strong overall performance and rise in other income led its adjusted profit after tax to increase by 54% YoY. Additionally, it is setting up a new greenfield plant with a capacity of 900 million tonne to cater to four wheeler companies as a part of its revenue diversification..Endurance Technologies shall witness strong growth given-Positive sentiments in two-wheeler industry shall improve its overall volume,ABS capacity ramp-up which shall will benefit from premiumization trend in 2W industry,increasing the share of four-wheeler products and strong potential in after-market products and exports. Factoring this, we increase our FY25E/FY26E EPS estimates by 4.5%/18.4% owing to strong commentary and healthy order book. We upgrade our rating from ‘Hold’ to ‘Accumulate’ with a target price of Rs 2,346 (earlier Rs 1,980), valuing it at 26 times on its FY26E EPS..Click on the attachment to read the full report:.GAIL Q4 Results Review - One-Offs Mar Quarter; Robust Guidance Maintained: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Endurance Technologies Q4 Results Review - Focus On Improving Product Mix To Drive Growth: Prabhudas Lilladher

New greenfield capacity to improve four-wheeler mix in consolidated sales by FY30

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