Motilal Oswal's research report on Endurance Technologies
2QFY23 consolidated performance was led by recovery in India operations, which was diluted by weakness in the EU operations and consolidation of Maxwell Energy. While ENDU has been winning new orders both in the India and EU markets, the recent acquisition of Maxwell opened up new opportunities in the electronic business (BMS, telematics etc.) for EVs.
Outlook
We have maintained our FY23 EPS estimates, but raise FY24 EPS estimates to factor in for better-than-expected recovery in 2Ws and new order wins, as well as Maxwell acquisition (loss making). We reiterate our Buy rating with a TP of INR1,680 (27x Sep’24E EPS).
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
