Endurance Technologies share price jumped over 2 percent intraday on June 26 after the company's net profit rose 19.51 percent to Rs 427.69 crore in the year ended March 2020 as against Rs 357.86 crore during the previous year ended March 2019.
The stock price jumped over 38 percent in last 1 month.
It was trading at Rs 905.50, up Rs 20.05, or 2.26 percent on June 26. It has touched an intraday high of Rs 942.00 and an intraday low of Rs 895.65.
For the quarter ending March 2020, the company's net profit declined 34.85 percent to Rs 71.85 crore as against Rs 110.28 crore during the previous quarter ended March 2019. Sales declined 16.13 percent to Rs 1124.39 crore in the quarter ended March 2020 as against Rs 1340.60 crore during the previous quarter ended March 2019.
Rajit Rajoriya, Equity Research Associate at Angel Broking is of the view that Endurance's consolidated revenue from operations declined by 15.3 percent to Rs 1614.2 crore against its estimates of Rs 1620 crore and compared to revenue of Rs 1906 crore in the same period of 2018-19. The lockdown due to the COVID-19 pandemic resulted in Q4 sales volume of two-wheelers registering a de-growth of 20 percent. The sector had suffered de-growth of 12.8 percent in the first three quarters of this fiscal. On a full year basis, de-growth was 14.4 percent.
"Consequent upon the lockdown, Endurance lost revenues for approximately nibe days in FY 2019-20. Revenues in April 2020 were also negligible. Resumption of industrial activity has been tepid through the month of May, and June has seen improved volumes," he added.
The broking firm has a buy on the stock with target at Rs 1,015 per share.
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