Endurance Technologies (BSE:540153) - Share price, News & Analysis

Q: What is the Fair Price of 540153 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

540153 (₹1417.55) is trading above our estimate of [[fair value]] (₹890.8)

540153 fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	4/6
Past Performance	2/6
Financial Health	6/6
Dividends	3/6

540153 Stock Overview

Endurance Technologies Limited, together with its subsidiaries, manufactures and supplies automotive components for original equipment manufacturers in the automotive industry in India and Europe.

Rewards

Earnings are forecast to grow 27.72% per year

Risk Analysis

Unstable dividend track record

Profit margins (5.9%) are lower than last year (8.4%)

Endurance Technologies Competitors

ZF Commercial Vehicle Control Systems India

NSEI:ZFCVINDIA

₹188.6b

Sundram Fasteners

NSEI:SUNDRMFAST

₹191.0b

Asahi India Glass

BSE:515030

₹154.2b

Sona BLW Precision Forgings

BSE:543300

₹271.0b

Price History & Performance

Summary of all time highs, changes and price drops for Endurance Technologies
Historical stock prices
Current Share Price	₹1,417.55
52 Week High	₹1,980.95
52 Week Low	₹1,047.65
Beta	0.74
1 Month Change	-8.39%
3 Month Change	0.39%
1 Year Change	-9.42%
3 Year Change	45.00%
5 Year Change	28.83%
Change since IPO	118.86%

Shareholder Returns

	540153	IN Auto Components	IN Market
7D	-2.4%	-1.7%	-1.7%
1Y	-9.4%	-1.4%	-0.6%

Return vs Industry: 540153 underperformed the Indian Auto Components industry which returned -1.4% over the past year.

Return vs Market: 540153 underperformed the Indian Market which returned -0.6% over the past year.

Price Volatility

Is 540153's price volatile compared to industry and market?
540153 volatility
540153 Average Weekly Movement	3.6%
Auto Components Industry Average Movement	5.7%
Market Average Movement	5.9%
10% most volatile stocks in IN Market	9.2%
10% least volatile stocks in IN Market	3.8%

Stable Share Price: 540153 is less volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 540153's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1985	3,588	Anurang Jain	https://www.endurancegroup.com

Endurance Technologies Limited, together with its subsidiaries, manufactures and supplies automotive components for original equipment manufacturers in the automotive industry in India and Europe. The company offers die castings, such as high pressure, low pressure, and gravity die castings; machining components, which comprise engines, gearboxes, and transmission parts; other metallic components assembling services, including aluminum alloys, cast iron, and steel; and suspension products design, develop, and manufacture adjustable and non-adjustable damping force inverted front forks and mono shock absorbers. It also provides transmission products comprising clutch assemblies, and cork and paper based friction plates; and continuous variable transmission assemblies; transmission housing, gearbox housing, torque convertor housing, and oil modules for electric vehicles; plastic components, including engine covers for automotive applications; and engine parts.

Endurance Technologies Fundamentals Summary

How do Endurance Technologies's earnings and revenue compare to its market cap?
540153 fundamental statistics
Market Cap	₹199.40b
Earnings (TTM)	₹4.68b
Revenue (TTM)	₹79.69b

42.6x

P/E Ratio

2.5x

P/S Ratio

Is 540153 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
540153 income statement (TTM)
Revenue	₹79.69b
Cost of Revenue	₹47.87b
Gross Profit	₹31.82b
Other Expenses	₹27.15b
Earnings	₹4.68b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 07, 2022

Earnings per share (EPS)	33.24
Gross Margin	39.93%
Net Profit Margin	5.87%
Debt/Equity Ratio	11.0%

How did 540153 perform over the long term?

See historical performance and comparison

Dividends

0.4%

Current Dividend Yield

19%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is 540153 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 540153?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 540153. This is calculated by dividing 540153's market cap by their current preferred multiple.
What is 540153's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₹199.40b

540153 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.4x
Enterprise Value/EBITDA	20.9x
PEG Ratio	1.5x

Price to Earnings Ratio vs Peers

How does 540153's PE Ratio compare to its peers?

540153 PE Ratio vs Peers

The above table shows the PE ratio for 540153 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	64.2x
ZFCVINDIA ZF Commercial Vehicle Control Systems India	103x	n/a	₹188.6b
SUNDRMFAST Sundram Fasteners	40.4x	23.8%	₹191.0b
515030 Asahi India Glass	37x	12.7%	₹154.2b
543300 Sona BLW Precision Forgings	76.3x	35.8%	₹271.0b
540153 Endurance Technologies	42.6x	27.7%	₹199.4b

Price-To-Earnings vs Peers: 540153 is good value based on its Price-To-Earnings Ratio (42.6x) compared to the peer average (64.2x).

Price to Earnings Ratio vs Industry

How does 540153's PE Ratio compare vs other companies in the IN Auto Components Industry?

Price-To-Earnings vs Industry: 540153 is expensive based on its Price-To-Earnings Ratio (42.6x) compared to the Indian Auto Components industry average (21.5x)

Price to Earnings Ratio vs Fair Ratio

What is 540153's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

540153 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	42.6x
Fair PE Ratio	29.8x

Price-To-Earnings vs Fair Ratio: 540153 is expensive based on its Price-To-Earnings Ratio (42.6x) compared to the estimated Fair Price-To-Earnings Ratio (29.8x).

Share Price vs Fair Value

What is the Fair Price of 540153 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 540153 (₹1417.55) is trading above our estimate of fair value (₹890.8)

Significantly Below Fair Value: 540153 is trading above our estimate of fair value.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Future Growth

How is Endurance Technologies forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

27.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 540153's forecast earnings growth (27.7% per year) is above the savings rate (6.8%).

Earnings vs Market: 540153's earnings (27.7% per year) are forecast to grow faster than the Indian market (18.5% per year).

High Growth Earnings: 540153's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 540153's revenue (12.8% per year) is forecast to grow faster than the Indian market (10.6% per year).

High Growth Revenue: 540153's revenue (12.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 540153's Return on Equity is forecast to be low in 3 years time (17.6%).

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Past Performance

How has Endurance Technologies performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

6.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 540153 has high quality earnings.

Growing Profit Margin: 540153's current net profit margins (5.9%) are lower than last year (8.4%).

Past Earnings Growth Analysis

Earnings Trend: 540153's earnings have grown by 6.4% per year over the past 5 years.

Accelerating Growth: 540153's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 540153 had negative earnings growth (-27.1%) over the past year, making it difficult to compare to the Auto Components industry average (15.1%).

Return on Equity

High ROE: 540153's Return on Equity (11.9%) is considered low.

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Financial Health

How is Endurance Technologies's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 540153's short term assets (₹28.5B) exceed its short term liabilities (₹16.6B).

Long Term Liabilities: 540153's short term assets (₹28.5B) exceed its long term liabilities (₹2.8B).

Debt to Equity History and Analysis

Debt Level: 540153 has more cash than its total debt.

Reducing Debt: 540153's debt to equity ratio has reduced from 35.3% to 11% over the past 5 years.

Debt Coverage: 540153's debt is well covered by operating cash flow (172.6%).

Interest Coverage: 540153 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Endurance Technologies's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

0.44%

Current Dividend Yield

Dividend Yield vs Market

Endurance Technologies Dividend Yield vs Market

How does Endurance Technologies dividend yield compare to the market?
Segment	Dividend Yield
Company (Endurance Technologies)	0.4%
Market Bottom 25% (IN)	0.4%
Market Top 25% (IN)	1.6%
Industry Average (Auto Components)	0.6%
Analyst forecast in 3 Years (Endurance Technologies)	0.7%

Notable Dividend: 540153's dividend (0.44%) is higher than the bottom 25% of dividend payers in the Indian market (0.36%).

High Dividend: 540153's dividend (0.44%) is low compared to the top 25% of dividend payers in the Indian market (1.63%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 540153 has been paying a dividend for less than 10 years.

Growing Dividend: 540153's dividend payments have increased, but the company has only paid a dividend for 5 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (18.8%), 540153's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (41.4%), 540153's dividend payments are well covered by cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

8.3yrs

Average management tenure

CEO

Anurang Jain (60 yo)

22.75yrs

Tenure

₹64,950,000

Compensation

Mr. Anurang Jain has been the Managing Director of Endurance Technologies Limited since March 28, 2006 and its Director since December 27, 1999 and serves as its Promoter since 2022. Mr. Jain has been asso...

CEO Compensation Analysis

Anurang Jain's Compensation vs Endurance Technologies Earnings

How has Anurang Jain's remuneration changed compared to Endurance Technologies's earnings?
Date	Total Comp.	Salary	Company Earnings
Jun 30 2022	n/a	n/a	₹5b
Mar 31 2022	₹65m	₹65m	₹5b
Dec 31 2021	n/a	n/a	₹5b
Sep 30 2021	n/a	n/a	₹6b
Jun 30 2021	n/a	n/a	₹6b
Mar 31 2021	₹46m	₹46m	₹5b
Dec 31 2020	n/a	n/a	₹4b
Sep 30 2020	n/a	n/a	₹4b
Jun 30 2020	n/a	n/a	₹4b
Mar 31 2020	₹59m	₹59m	₹6b
Dec 31 2019	n/a	n/a	₹6b
Sep 30 2019	n/a	n/a	₹6b
Jun 30 2019	n/a	n/a	₹5b
Mar 31 2019	₹58m	₹58m	₹5b
Dec 31 2018	n/a	n/a	₹5b
Sep 30 2018	n/a	n/a	₹4b
Jun 30 2018	n/a	n/a	₹4b
Mar 31 2018	₹51m	₹51m	₹4b
Dec 31 2017	n/a	n/a	₹4b
Sep 30 2017	n/a	n/a	₹4b
Jun 30 2017	n/a	n/a	₹3b
Mar 31 2017	₹46m	₹46m	₹3b

Compensation vs Market: Anurang's total compensation ($USD798.16K) is about average for companies of similar size in the Indian market ($USD652.06K).

Compensation vs Earnings: Anurang's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

Leadership Team

Experienced Management: 540153's management team is seasoned and experienced (8.3 years average tenure).

Board Members

Experienced Board: 540153's board of directors are considered experienced (7.3 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of 540153?
Owner Type	Number of Shares	Ownership Percentage
General Public	4,495,714	3.2%
Institutions	30,669,998	21.8%
Individual Insiders	105,497,136	75.0%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 95.38% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
62.98%	Anurang Jain	88,587,136	₹125.6b	0%	no data
12.02%	Naresh Chandra	16,910,000	₹24.0b	0%	no data
4.99%	Life Insurance Corporation of India, Asset Management Arm	7,018,270	₹9.9b	0%	0.1%
3.04%	UTI Asset Management Company Limited	4,275,373	₹6.1b	15.75%	0.41%
2.84%	SBI Funds Management Limited	4,000,000	₹5.7b	344.44%	0.14%
1.52%	ICICI Prudential Asset Management Company Limited	2,143,976	₹3.0b	6.77%	0.1%
1.5%	Axis Asset Management Company Limited	2,107,800	₹3.0b	-57.34%	0.2%
1.22%	Hdfc Standard Life Insurance Company Limited, Asset Management Arm	1,714,123	₹2.4b	0%	0.78%
1.1%	Aditya Birla Sun Life AMC Limited	1,540,848	₹2.2b	48.52%	0.18%
0.88%	The Vanguard Group, Inc.	1,239,726	₹1.8b	0.7%	no data
0.74%	J.P. Morgan Asset Management, Inc.	1,045,772	₹1.5b	-1.96%	no data
0.57%	DHFL Pramerica Asset Managers Private Limited	797,552	₹1.1b	0%	0.73%
0.4%	Schroder Investment Management (Singapore) Ltd	568,606	₹806.0m	0%	0.07%
0.37%	BlackRock, Inc.	520,531	₹737.9m	-0.74%	no data
0.21%	Norges Bank Investment Management	289,510	₹410.4m	0%	no data
0.17%	Dimensional Fund Advisors LP	233,715	₹331.3m	0.65%	no data
0.15%	Tata Asset Management Limited	216,000	₹306.2m	0%	0.06%
0.14%	Comgest S.A.	202,323	₹286.8m	0%	0.02%
0.14%	Franklin Resources, Inc.	200,000	₹283.5m	0%	no data
0.12%	L&T Investment Management Limited	167,187	₹237.0m	270.5%	0.06%
0.12%	Nippon Life India Asset Management Limited	167,055	₹236.8m	0%	0.01%
0.062%	UTI International (Singapore) Pte Ltd	87,001	₹123.3m	-13.52%	1.5%
0.034%	Daiwa Asset Management Co. Ltd.	47,182	₹66.9m	0%	no data
0.031%	BNY Mellon Asset Management	43,594	₹61.8m	2.18%	no data
0.026%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	36,365	₹51.5m	0%	no data

Ticker	Exchange	Primary Security	Security Type	Country	Currency	Listed on
ENDURANCE	NSEI (National Stock Exchange of India)	Yes	Equity Shares	IN	INR	Oct 2016
540153	BSE (Mumbai Stock Exchange)	Yes	Equity Shares	IN	INR	Oct 2016

Data	Last Updated (UTC time)
Company Analysis	2022/10/01 00:00
End of Day Share Price	2022/09/30 00:00
Earnings	2022/06/30
Annual Earnings	2022/03/31