Announcement • Jun 10
Endurance Technologies Limited Announces Board Changes, Effective June 9, 2026 Endurance Technologies Limited announced that Mr. Soumendra Basu, Chairman and Independent Director, and Ms. Anjali Seth, Independent Director, completed their second consecutive term of five years as Independent Directors of the Company on close of business hours on June 9, 2026. Mr. Soumendra Basu and Ms. Anjali Seth ceased to be Directors of the Company effective from June 9, 2026. Mr. Basu is not related to any Director of the Company. Ms. Seth is not related to any Director of the Company. Declared Dividend • May 16
Dividend increased to ₹11.50 Dividend of ₹11.50 is 15% higher than last year. Ex-date: 31st July 2026 Payment date: 12th September 2026 Dividend yield will be 0.5%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 17% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 15
Full year 2026 earnings: EPS in line with analyst expectations despite revenue beat Full year 2026 results: EPS: ₹67.66 (up from ₹59.46 in FY 2025). Revenue: ₹147.2b (up 27% from FY 2025). Net income: ₹9.52b (up 14% from FY 2025). Profit margin: 6.5% (down from 7.2% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 22% per year. Announcement • Mar 25
Endurance Technologies Limited to Report Q4, 2026 Results on May 14, 2026 Endurance Technologies Limited announced that they will report Q4, 2026 results on May 14, 2026 Reported Earnings • Feb 14
Third quarter 2026 earnings: EPS misses analyst expectations Third quarter 2026 results: EPS: ₹15.76 (up from ₹13.11 in 3Q 2025). Revenue: ₹36.1b (up 26% from 3Q 2025). Net income: ₹2.22b (up 20% from 3Q 2025). Profit margin: 6.1% (down from 6.4% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.2%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 22% per year. Announcement • Dec 18
Endurance Technologies Limited to Report Q3, 2026 Results on Feb 12, 2026 Endurance Technologies Limited announced that they will report Q3, 2026 results on Feb 12, 2026 Board Change • Dec 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Shyamak Tata was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 17
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: ₹16.16 (up from ₹14.43 in 2Q 2025). Revenue: ₹35.8b (up 23% from 2Q 2025). Net income: ₹2.27b (up 12% from 2Q 2025). Profit margin: 6.3% (down from 7.0% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 21% per year. Announcement • Sep 25
Endurance Technologies Limited to Report Q2, 2026 Results on Nov 12, 2025 Endurance Technologies Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Price Target Changed • Aug 21
Price target increased by 7.3% to ₹2,808 Up from ₹2,617, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of ₹2,869. Stock is up 11% over the past year. The company is forecast to post earnings per share of ₹72.58 for next year compared to ₹59.46 last year. Upcoming Dividend • Jul 25
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 01 August 2025. Payment date: 18 August 2025. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.6%). Reported Earnings • Jul 23
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹59.46 (up from ₹48.38 in FY 2024). Revenue: ₹115.6b (up 13% from FY 2024). Net income: ₹8.36b (up 23% from FY 2024). Profit margin: 7.2% (up from 6.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 3.7%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 22% per year. Announcement • Jun 24
Endurance Technologies Limited to Report Q1, 2026 Results on Aug 13, 2025 Endurance Technologies Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Price Target Changed • Jun 04
Price target increased by 7.9% to ₹2,440 Up from ₹2,262, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of ₹2,465. Stock is up 4.1% over the past year. The company is forecast to post earnings per share of ₹72.92 for next year compared to ₹59.46 last year. Reported Earnings • May 16
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹59.46 (up from ₹48.38 in FY 2024). Revenue: ₹116.8b (up 14% from FY 2024). Net income: ₹8.36b (up 23% from FY 2024). Profit margin: 7.2% (up from 6.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 3.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 21% per year. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,166, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 26x in the Auto Components industry in India. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,226 per share. Announcement • Mar 25
Endurance Technologies Limited to Report Fiscal Year 2025 Results on May 15, 2025 Endurance Technologies Limited announced that they will report fiscal year 2025 results on May 15, 2025 Buy Or Sell Opportunity • Mar 06
Now 22% overvalued Over the last 90 days, the stock has fallen 21% to ₹1,848. The fair value is estimated to be ₹1,511, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Buy Or Sell Opportunity • Feb 19
Now 21% overvalued Over the last 90 days, the stock has fallen 21% to ₹1,863. The fair value is estimated to be ₹1,545, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Reported Earnings • Feb 13
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: ₹13.11 (up from ₹10.83 in 3Q 2024). Revenue: ₹28.8b (up 13% from 3Q 2024). Net income: ₹1.84b (up 21% from 3Q 2024). Profit margin: 6.4% (up from 5.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 5.7%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Jan 01
Endurance Technologies Limited Announces Resignation of Nilesh Phanse, President Operations Endurance Technologies Limited announced that Mr. Nilesh Phanse, President Operations of the Company, had submitted his resignation vide letter dated 20 August, 2024 due to personal reasons. Mr. Phanse has been relieved from the services of the Company with effect from the close of business hours on 31 December, 2024. Announcement • Dec 30
Endurance Technologies Limited to Report Q3, 2025 Results on Feb 12, 2025 Endurance Technologies Limited announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 07
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: ₹14.43 (up from ₹10.99 in 2Q 2024). Revenue: ₹29.1b (up 14% from 2Q 2024). Net income: ₹2.03b (up 31% from 2Q 2024). Profit margin: 7.0% (up from 6.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.7%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Oct 01
Endurance Technologies Limited Approves the Appointment of Alfredo Altavilla as Independent Director Endurance Technologies Limited approved the appointment of Mr. Alfredo Altavilla as an Independent Director of the Company. Announcement • Sep 26
Endurance Technologies Limited to Report Q2, 2025 Results on Nov 06, 2024 Endurance Technologies Limited announced that they will report Q2, 2025 results on Nov 06, 2024 Announcement • Aug 23
Endurance Technologies Limited Approves Dividend for the Financial Year Ended 31St March, 2024 Endurance Technologies Limited approved dividend on 140,662,848 equity shares of the Company at the rate of INR 8.50 per equity share of face value of INR 10 each (85%) fully paid up,
for the financial year ended 31st March, 2024. Announcement • Aug 02
Endurance Technologies Limited Announces Resignation of Roberto Testore as Independent Director and Board Member of Endurance Overseas Srl and Endurance SpA, Effective August 31, 2024 Endurance Technologies Limited announced that Mr. Roberto Testore, vide letter dated 1st August, 2024, has submitted his resignation as an Independent Director of the Company with effect from the close of the business hours on 31st August, 2024. From the same date, he shall also cease to be a director on the Board of the Company's overseas subsidiaries in Italy viz. Endurance Overseas Srl, and Endurance SpA, where he was nominated as a Board member. The resignation, prior to the completion of term, is due to personal reasons and in view of my other professional and business engagements which makes it difficult for Mr. Roberto to devote requisite time to fulfil my obligations and duties as a director on the Board of the Company. Upcoming Dividend • Aug 02
Upcoming dividend of ₹8.50 per share Eligible shareholders must have bought the stock before 09 August 2024. Payment date: 21 September 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.5%). Announcement • Aug 01
Endurance Technologies Limited (NSEI:ENDURANCE) acquired an additional 5.50% stake in Maxwell Energy Systems Pvt. Ltd. from Lithium ION Energy Ltd. (TSXV:ION) for INR 7535. Endurance Technologies Limited (NSEI:ENDURANCE) acquired an additional 5.50% stake in Maxwell Energy Systems Pvt. Ltd. from Lithium ION Energy Ltd. (TSXV:ION) for INR 7535 on July 31, 2024. A cash consideration of INR 7535 will be paid by Endurance Technologies Limited. As part of consideration, INR 7535 is paid towards common equity of Maxwell Energy Systems Pvt. Ltd. Upon completion, Endurance Technologies Limited will own 67% stake in Maxwell Energy Systems Pvt. Ltd.
Endurance Technologies Limited (NSEI:ENDURANCE) completed the acquisition of an additional 5.50% stake in Maxwell Energy Systems Pvt. Ltd. from Lithium ION Energy Ltd. (TSXV:ION) for INR 7535 on July 31, 2024. Reported Earnings • Jul 27
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ₹48.38 (up from ₹34.09 in FY 2023). Revenue: ₹102.4b (up 16% from FY 2023). Net income: ₹6.80b (up 42% from FY 2023). Profit margin: 6.6% (up from 5.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.0%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 27
Endurance Technologies Limited to Report Q1, 2025 Results on Aug 13, 2024 Endurance Technologies Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Price Target Changed • May 21
Price target increased by 7.5% to ₹2,117 Up from ₹1,970, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of ₹2,084. Stock is up 53% over the past year. The company is forecast to post earnings per share of ₹64.36 for next year compared to ₹48.38 last year. Reported Earnings • May 18
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ₹48.38 (up from ₹34.09 in FY 2023). Revenue: ₹103.3b (up 17% from FY 2023). Net income: ₹6.80b (up 42% from FY 2023). Profit margin: 6.6% (up from 5.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.0%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 18
Dividend increased to ₹8.50 Dividend of ₹8.50 is 21% higher than last year. Ex-date: 9th August 2024 Payment date: 21st September 2024 Dividend yield will be 0.4%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 16% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 70% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 18
Endurance Technologies Limited, Annual General Meeting, Aug 23, 2024 Endurance Technologies Limited, Annual General Meeting, Aug 23, 2024. Announcement • Mar 27
Endurance Technologies Limited to Report Q4, 2024 Results on May 16, 2024 Endurance Technologies Limited announced that they will report Q4, 2024 results on May 16, 2024 Board Change • Mar 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Anant Talaulicar was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Feb 09
Price target increased by 9.2% to ₹2,014 Up from ₹1,844, the current price target is an average from 12 analysts. New target price is 9.3% above last closing price of ₹1,842. Stock is up 34% over the past year. The company is forecast to post earnings per share of ₹46.49 for next year compared to ₹34.09 last year. Announcement • Feb 08
Endurance Technologies Appoints Rajendra Abhange as Director and Chief Operating Officer Endurance Technologies has named Rajendra Abhange as its chief operating officer-designate effective April 2024. Abhange is to join the firm in the first week of April 2024 and will take charge as the firm's director and chief operating officer. Abhange has more than 38 years of experience with large corporates from the automotive field, and has been working in the leadership role as a top management executive. He has worked with Robert Bosch India and as a senior director and chief technology officer at Gabriel India and as president and CEO of Auto Ignition Limited. Reported Earnings • Feb 07
Third quarter 2024 earnings released: EPS: ₹10.83 (vs ₹7.69 in 3Q 2023) Third quarter 2024 results: EPS: ₹10.83 (up from ₹7.69 in 3Q 2023). Revenue: ₹25.6b (up 22% from 3Q 2023). Net income: ₹1.52b (up 41% from 3Q 2023). Profit margin: 5.9% (up from 5.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 23
Endurance Technologies Limited to Report Q3, 2024 Results on Feb 06, 2024 Endurance Technologies Limited announced that they will report Q3, 2024 results on Feb 06, 2024 Announcement • Nov 09
Endurance Technologies Limited Announces CFO Changes Endurance Technologies Limited approved the appointment of Mr. R. S. Raja Gopal Sastry as Group Chief Financial Officer - Designate ("CFO - Designate"). Upon joining, Mr. Raja Sastry will be appointed as a Senior Management Personnel and will subsequently succeed Mr. Satrajit Ray, Director and Group Chief Financial Officer of the Company, whose term of appointment is up to 5th June, 2024. Mr. R. S. Raja Gopal Sastry has extensive professional experience in field of finance, accounting, taxation and compliances. He earned his Bachelor's in Commerce from University of Madras and has further secured membership from the Institute of Cost and Works Accountants of India and the Institute of Company Secretaries of India. He started his career in 1987 as Non-Commissioned Officer in Indian Air Force. He was associated with various domestic and international entities like Visteon India, R Stahl India. Since August 2015, Mr. Sastry has been associated with ZF Group holding various positions as Country Finance Leader (India) at ZF Commercial Vehicles Systems and as Chief Financial Officer at ZF Commercial Vehicles Control Systems India Limited. Announcement • Sep 26
Endurance Technologies Limited to Report Q2, 2024 Results on Nov 08, 2023 Endurance Technologies Limited announced that they will report Q2, 2024 results on Nov 08, 2023 Announcement • Aug 24
Endurance Technologies Limited Declares Dividend for the Financial Year Ended 31st March, 2023 Endurance Technologies Limited at its AGM held on August 23, 2023, approved declaration of dividend on 140,662,848 equity shares of the Company at the rate of INR 7.00 per equity share of face value of INR 10.00 each (70%) fully paid up for the financial year ended 31st March, 2023. Price Target Changed • Aug 15
Price target increased by 7.6% to ₹1,773 Up from ₹1,648, the current price target is an average from 11 analysts. New target price is 7.5% above last closing price of ₹1,649. Stock is up 13% over the past year. The company is forecast to post earnings per share of ₹52.93 for next year compared to ₹34.09 last year. Upcoming Dividend • Aug 04
Upcoming dividend of ₹7.00 per share at 0.4% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 21 September 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.8%). Reported Earnings • Jul 25
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: ₹34.09 (up from ₹32.75 in FY 2022). Revenue: ₹88.0b (up 17% from FY 2022). Net income: ₹4.80b (up 4.1% from FY 2022). Profit margin: 5.4% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 18
Endurance Technologies Limited acquired a 5% stake in Maxwell Energy Systems Pvt. Ltd. for INR 69.4 million. Endurance Technologies Limited acquired a 5% stake in Maxwell Energy Systems Pvt. Ltd. for INR 69.4 million on July 17, 2023. The consideration will be paid in cash. As of fiscal year ended March 31, 2023, Maxwell Energy Systems Pvt. Ltd. reported net income of INR 212.32 million.
Endurance Technologies Limited completed the acquisition of a 5% stake in Maxwell Energy Systems Pvt. Ltd. on July 17, 2023. Announcement • Jun 28
Endurance Technologies Limited to Report Q1, 2024 Results on Aug 10, 2023 Endurance Technologies Limited announced that they will report Q1, 2024 results at 4:00 PM, Indian Standard Time on Aug 10, 2023 Announcement • May 19
Endurance Technologies Limited, Annual General Meeting, Aug 23, 2023 Endurance Technologies Limited, Annual General Meeting, Aug 23, 2023. Agenda: To declare the dividend. Announcement • May 18
Endurance Technologies Limited Recommends Dividend for the Financial Year 2022-23 Endurance Technologies Limited at its Board of Directors meeting held on 17th May, 2023 Recommended dividend of INR 7 per equity share of face value of INR 10 each (70%), for the financial year 2022-23. Reported Earnings • May 18
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: ₹34.09 (up from ₹32.75 in FY 2022). Revenue: ₹88.5b (up 17% from FY 2022). Net income: ₹4.80b (up 4.1% from FY 2022). Profit margin: 5.4% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 09
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: ₹7.69 (up from ₹6.73 in 3Q 2022). Revenue: ₹21.1b (up 12% from 3Q 2022). Net income: ₹1.08b (up 14% from 3Q 2022). Profit margin: 5.1% (in line with 3Q 2022). Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Dec 27
Endurance Technologies Limited to Report Q3, 2023 Results on Feb 08, 2023 Endurance Technologies Limited announced that they will report Q3, 2023 results on Feb 08, 2023 Major Estimate Revision • Nov 16
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from ₹89.5b to ₹91.1b. EPS estimate fell from ₹46.99 to ₹41.89 per share. Net income forecast to grow 50% next year vs 35% growth forecast for Auto Components industry in India. Consensus price target broadly unchanged at ₹1,599. Share price rose 4.5% to ₹1,463 over the past week. Reported Earnings • Nov 09
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: ₹9.35 (down from ₹9.48 in 2Q 2022). Revenue: ₹23.7b (up 26% from 2Q 2022). Net income: ₹1.31b (down 1.4% from 2Q 2022). Profit margin: 5.6% (down from 7.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Sep 27
Endurance Technologies Limited to Report Q2, 2023 Results on Nov 07, 2022 Endurance Technologies Limited announced that they will report Q2, 2023 results on Nov 07, 2022 Upcoming Dividend • Aug 04
Upcoming dividend of ₹6.25 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 22 September 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.7%). Lower than average of industry peers (0.6%). Reported Earnings • Aug 01
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: ₹32.75 (down from ₹36.95 in FY 2021). Revenue: ₹75.5b (up 15% from FY 2021). Net income: ₹4.61b (down 11% from FY 2021). Profit margin: 6.1% (down from 7.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 18%, compared to a 20% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Jul 15
Endurance Technologies Limited to Report Q1, 2023 Results on Aug 10, 2022 Endurance Technologies Limited announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 21
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: ₹32.75 (down from ₹36.95 in FY 2021). Revenue: ₹75.5b (up 15% from FY 2021). Net income: ₹4.61b (down 11% from FY 2021). Profit margin: 6.1% (down from 7.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 17%, compared to a 19% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 2% per year. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹1,113, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 23x in the Auto Components industry in India. Total loss to shareholders of 3.2% over the past three years. Major Estimate Revision • Feb 15
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₹80.0b to ₹75.4b. EPS estimate also fell from ₹43.53 per share to ₹33.21 per share. Net income forecast to grow 35% next year vs 31% growth forecast for Auto Components industry in India. Consensus price target down from ₹1,926 to ₹1,780. Share price fell 11% to ₹1,373 over the past week. Price Target Changed • Feb 10
Price target decreased to ₹1,786 Down from ₹1,926, the current price target is an average from 13 analysts. New target price is 22% above last closing price of ₹1,466. Stock is down 1.2% over the past year. The company is forecast to post earnings per share of ₹32.75 for next year compared to ₹36.95 last year. Reported Earnings • Feb 09
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: ₹6.73 (down from ₹13.51 in 3Q 2021). Revenue: ₹19.0b (down 7.1% from 3Q 2021). Net income: ₹946.3m (down 50% from 3Q 2021). Profit margin: 5.0% (down from 9.3% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 20%, compared to a 17% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year. Announcement • Dec 12
Endurance Technologies Limited Announces Intimation of Commencement of Commercial Production at the Company's New Plant in Waluj, Aurangabad Endurance Technologies Limited inform commencement of commercial production at the company's new plant situated at E-7 1, MIDC Industrial Area, Waluj, Aurangabad -431136, Maharashtra, from 11th December, 2021. The plant set up to manufacture braking systems will cater to esteemed OEM customers. Description of braking systems initially planned to be produced along with quantities. Price Target Changed • Nov 16
Price target increased to ₹1,893 Up from ₹1,763, the current price target is an average from 13 analysts. New target price is 11% above last closing price of ₹1,703. Stock is up 66% over the past year. The company is forecast to post earnings per share of ₹43.20 for next year compared to ₹36.95 last year. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS ₹9.48 (vs ₹11.88 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹18.9b (up 6.6% from 2Q 2021). Net income: ₹1.33b (down 20% from 2Q 2021). Profit margin: 7.1% (down from 9.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 16% share price gain to ₹1,865, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 28x in the Auto Components industry in India. Total returns to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹802 per share. Price Target Changed • Aug 17
Price target increased to ₹1,735 Up from ₹1,600, the current price target is an average from 13 analysts. New target price is 8.2% above last closing price of ₹1,603. Stock is up 57% over the past year. Upcoming Dividend • Aug 05
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 12 August 2021. Payment date: 23 September 2021. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.7%). Reported Earnings • Aug 03
Full year 2021 earnings released: EPS ₹36.95 (vs ₹40.21 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹65.5b (down 5.4% from FY 2020). Net income: ₹5.20b (down 8.1% from FY 2020). Profit margin: 7.9% (down from 8.2% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • May 22
Full year 2021 earnings released: EPS ₹36.95 (vs ₹40.21 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹65.8b (down 4.9% from FY 2020). Net income: ₹5.20b (down 8.1% from FY 2020). Profit margin: 7.9% (down from 8.2% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year. Announcement • May 21
Endurance Technologies Limited Recommends Dividend for the Financial Year 2020-21, Payable on or After 30 August,2021 But on or Before 23 September, 2021 Endurance Technologies Limited at its board of directors meeting held on May 19, 2021, approved the recommended dividend of INR 6.00 per equity share of face value of INR 10 each (60%), for the financial year 2020-21. The dividend, if declared by the shareholders at the twenty second annual general meeting, shall be paid on or after 30 August,2021 but on or before 23 September, 2021. Reported Earnings • Feb 11
Third quarter 2021 earnings released: EPS ₹13.51 (vs ₹8.82 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹20.4b (up 24% from 3Q 2020). Net income: ₹1.90b (up 53% from 3Q 2020). Profit margin: 9.3% (up from 7.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Analyst Estimate Surprise Post Earnings • Feb 11
Revenue beats expectations Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 23%, compared to a 20% growth forecast for the Auto Components industry in India. Price Target Changed • Feb 11
Price target raised to ₹1,332 Up from ₹1,225, the current price target is an average from 12 analysts. The new target price is 10% below the current share price of ₹1,484. As of last close, the stock is up 39% over the past year. Executive Departure • Feb 11
Non-Executive Independent Director has left the company On the 9th of February, Falguni Nayar's tenure as Non-Executive Independent Director ended after 4.7 years in the role. We don't have any record of a personal shareholding under Falguni's name. A total of 2 executives have left over the last 12 months. Announcement • Feb 10
Endurance Technologies Limited Announces Change in Directorate Endurance Technologies Limited at the board meeting held on February 9, 2021 approved resignation of Mrs. Falguni Naya as director. Mrs. Nayar has been associated as a Non Executive Independent Director on the Board of Directors since 10th June, 2016. During her tenure as Director, she has provided valued inputs on various matters including corporate & financial strategies. The company also approved Appointment of Mr. Indrajit Banerjee as an Additional and Non executive Independent Director of the Company. Mr. Indrajit Banerjee shall hold office up to the date of the ensuing Annual General Meeting of the Company and a proposal for his appointment as a Non-executive Independent Director, for a term of five years commencing from 9th February, 2021 up to and including 8th February, 2026 would be placed for approval of the members of the Company at the ensuing Annual General Meeting. Is New 90 Day High Low • Feb 04
New 90-day high: ₹1,446 The company is up 37% from its price of ₹1,056 on 06 November 2020. The Indian market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹436 per share. Price Target Changed • Jan 09
Price target raised to ₹1,277 Up from ₹1,176, the current price target is an average from 11 analysts. The new target price is 9.6% below the current share price of ₹1,412. As of last close, the stock is up 37% over the past year. Is New 90 Day High Low • Jan 06
New 90-day high: ₹1,439 The company is up 33% from its price of ₹1,078 on 08 October 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹444 per share. Is New 90 Day High Low • Dec 17
New 90-day high: ₹1,209 The company is up 6.0% from its price of ₹1,144 on 18 September 2020. The Indian market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹435 per share. Announcement • Nov 11
Endurance Technologies Limited Announces Board Changes Endurance Technologies Limited, at its board meeting, held on November 10, 2020, approved the resignation of Mr. Naresh Chandra, Chairman and Non-Executive Director with effect from 10th November, 2020; and appointment of Mrs. Varsha Jain as an Additional Director with effect from 10th November, 2020. Consequent to the resignation of Mr. Naresh Chandra, the Board has approved appointment of Mr. Soumendra Basu, as Chairman of the Board. Mr. Soumendra Basu is an Independent and Non-Executive Director of the company. Reported Earnings • Nov 11
Second quarter 2021 earnings released: EPS ₹11.88 The company reported a soft second quarter result with weaker earnings, although revenues and profit margins were flat. Second quarter 2021 results: Revenue: ₹17.8b (flat on 2Q 2020). Net income: ₹1.67b (down 1.1% from 2Q 2020). Profit margin: 9.4% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Nov 11
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.9%. Earnings per share (EPS) also surpassed analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 25%, compared to a 13% growth forecast for the Auto Components industry in India. Announcement • Aug 06
Endurance Technologies Limited to Report Q1, 2021 Results on Aug 13, 2020 Endurance Technologies Limited announced that they will report Q1, 2021 results on Aug 13, 2020