Endurance Technologies is stock pick of the week as 3 factors are driving its revenue growth Should you buy it now? Heres what analysts have to say
Auto component manufacturer Endurance Technologies is expected to report 12.5% and 28.9% year-on-year growth in the revenue and PAT respectively in the December 2024 quarter, according to the estimates of analysts compiled by Reuters-Refinitiv. The performance will be supported by improvement in India 2W production volumes, decent growth in EU business and raw material costs’ stability.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
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The company operates with a network of 31 manufacturing facilities in India and overseas and caters to 2W, 3W and 4W OEMs. It offers a range of products that include aluminium die-casting, suspension, braking systems and transmission products. The order book was healthy at the end of the September 2024 quarter with cumulative new business orders (over the last five years) worth Rs. 2,927 crore in India and EUR 232 million in Europe. It is expected to benefit from the buoyant prospects of the automobile sector that is driven by a robust economic growth outlook, the government’s focus on infrastructure development, and increasing adoption of EVs. Enhanced manufacturing incentives under the government’s PLI scheme, 100% FDI under the automatic route, the growing presence of global automobile OEMs in India and export opportunities are a big boost.
Endurance Technologies has sustained its market leadership in diecasting by strengthening its product and process capabilities. It is focusing on machined castings for the four-wheeler and non-automotive segments for the domestic and export markets. Looking at other business segments, it is emphasising on product premiumisation and increasing penetration in higher cc vehicles to solidify its suspension segment.
The management is concentrating on adding high value added products such as the 2-wheeler disc brake systems to strengthen its braking sector division. It is also scaling up production volumes for eight components of EV battery pack and motor housing aluminium casting.
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Endurance Technologies is taking steps to enhance its competitive strength. Increasing content per vehicle, investments in strategic backward integrations to manufacture in-house import substitutes, strategic collaborations and expansion of 4W and non-automotive segments are some of such initiatives. Its growth plans are largely self-funded. In the first half of 2024-25, it incurred capex of Rs. 1.95 billion for India operations for capacity addition in brake assemblies, alloy wheels, aluminium casting, forging and suspensions. On the other hand, it has incurred EUR 28.3 million for Europe operations for production capacity expansion to cater to new orders. Analysts list strong return ratios, sturdy prospects of overseas subsidiaries, growing EV order book, aim to build long-term capacities and focus on the aftermarket segment as the key strongholds.
Selection methodology: We pick the stock that has shown the maximum increase in ‘consensus analyst rating’ during the past three months. The consensus rating is arrived at by averaging all analyst recommendations after attributing weights to each of them (1 for strong buy, 2 for buy, 3 for hold, 4 for sell, 5 for strong sell). An improvement in consensus analyst rating indicates that the analysts are getting bullish on the stock. Only stocks with more than five analysts covering them are considered. You can see similar consensus analyst rating changes during the past week in ETW 50 table.
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This story originally appeared on: India Times - Author:Faqs of Insurances
