Buy Endurance Technologies, target price Rs 1380: HDFC Securities

HDFC Securities has buy call on Endurance Technologies with a target price of Rs 1380. The current market price of Endurance Technologies is Rs 1302.15. Time period given by analyst is Intra Day when Endurance Technologies Ltd. price can reach defined target.

Endurance Technologies Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 18322.04 Crore) operating in Auto Ancillaries sector.

Endurance Technologies Ltd. key Products/Revenue Segments include Shock Absorbers, Aluminium & Die Casting, Brake Discs, Clutch Assembly (Parts), Alloy Wheels, Others, Other Operating Revenue, Components & Spares, Job Work, Scrap, Export Incentives, Power Generation for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 2091.48 Crore, up 10.28 % from last quarter Total Income of Rs 1896.59 Crore and down -2.26 % from last year same quarter Total Income of Rs 2139.77 Crore. Company reported net profit after tax of Rs 136.19 Crore in latest quarter.


Investment Rationale
Breakout from 12 week’s consolidation with rising volumes and surpassed resistance of 50 days EMA

Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 7.22 per cent, DIIs 15.87 per cent.