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    Buy Endurance Technologies, target price Rs 1,656: Anand Rathi

    Synopsis

    Endurance Technologies key Products/Revenue Segments include Shock Absorbers, Aluminium & Die Casting, Brake Discs, Clutch Assembly (Parts), Alloy Wheels, Others, Components & Spares, Other Operating Revenue, Job Work, Scrap, Export Incentives, Power Generation for the year ending 31-Mar-2022.

    Buy Endurance Technologies, target price Rs 1,656: Anand RathiAgencies
    Anand Rathi has buy call on Endurance Technologies with a target price of Rs 1656.0. The current market price of Endurance Technologies is Rs 1435.75.

    Endurance Technologies, incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 20482.62 crore) operating in Auto Ancillaries sector.

    Endurance Technologies key Products/Revenue Segments include Shock Absorbers, Aluminium & Die Casting, Brake Discs, Clutch Assembly (Parts), Alloy Wheels, Others, Components & Spares, Other Operating Revenue, Job Work, Scrap, Export Incentives, Power Generation for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-06-2022, the company has reported a Consolidated Total Income of Rs 2118.51 crore, up 1.29 % from last quarter Total Income of Rs 2091.48 crore and up 24.15 % from last year same quarter Total Income of Rs 1706.36 crore. Company has reported net profit after tax of Rs 103.38 crore in latest quarter.

    Investment Rationale
    For Endurance Technologies, new orders from customers and customer additions were highlights of the quarter. Sales of battery-management systems through its Maxwell acquisition commenced in the quarter and augurs well for its long-term growth, the brokerage said. Two-wheeler industry volumes have started to improve sequentially and are expected to grow robustly as semi-conductor shortages ease, it added. Anand Rathi is positive on the outlook and maintains a Buy at a revised TP of Rs 1,656 (28x FY24e).



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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