Endurance Technologies Ltd. share price target

*over or under performance to benchmark index Endurance Technologies Ltd is one of India's leading automotive component manufacturers, with operations in the domestic market and Europe. It mainly caters to domestic two- and three-wheeler original equipment manufacturers (OEMs) and supplies aluminium casting products to four-wheeler OEMs in Europe....

We maintain our HOLD rating on the stock, as the current price largely factors in the positives.

We upgrade our rating from HOLD to BUY after the recent correction in the stock prices.

which was 3%/2% lower than PLe/consensus estimates. Gross profit increased by 6% YoY with a margin expansion of 302bps YoY to 42.9% (PLe:42.5%). EBITDA grew by 24.6% YoY while margin expanded was136bps YoY to 13 % (PLe: 13.6%; BBGe: 13.2%), suppressed by higher other expenses. PAT increased by 21.1% YoY; however, it was 13%/7% below PLe/consensus....

We maintain our HOLD rating on the stock.

Endurance Technologies (ENDU) reported an in-line performance, as EBITDA margin sustained a healthy 13%+ level in the last three quarters.

? Endurance Technologies (ENDU) reported an in-line operating
performance in 1QFY25 with the India business underperforming the overall 2W industry growth mainly due to the uneven growth of its key customers.

At the CMP the valuations appear full and hence we maintain our HOLD rating on the stock.

Endurance Technologies (ENDU) reported a strong performance in
4QFY24, outperforming the underlying domestic industry growth. India
business margin came in at 13.5% (vs. est. 12.1%) driven by a better mix.
The EU business is improving gradually; however, order wins remained
soft in FY24.

we maintain our HOLD rating on the stock. We, therefore, recommend a BUY on Dips strategy for the stock.

We have BUY on the stock an upside of 10% from the CMP

We therefore recommend a BUY on Dips' strategy for the stock.

Recommendation: On account of the recent run-up in stock prices the valuation appears full. We continue to value the stock at 25x on Jun' 25E EPS (roll forward from FY25) to arrive at our TP of Rs 1660/share (earlier Rs 1,570). we revise our rating from BUY to HOLD.