Endurance Technologies share price jumped over 14% on Friday’s session following the company’s strong Q4 results. The company’s consolidated profit after taxes (PAT) for the quarter that ended March surged 54% year over year to ₹210.2 crore from ₹136.5 crore, as per the exchange filing. Endurance Technologies consolidated total income rose by 20% year over year to ₹2,711.3 crore from ₹2,255.2 crore. Endurance Technologies share price today opened at ₹2,202.25 on BSE, the stock touched an intraday high of ₹2,317.55 and an intraday low of ₹2,166.45.
According to Ruchit Jain, lead research analyst at 5paisa, Endurance Technologies share price has been forming a higher top higher bottom structure and hence the trend remains positive. For short term, the stock has support around ₹2,000-2,100. Traders with existing positions can continue to ride this trend while any dips towards the support zone could be seen as a buying opportunity.
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Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One said that Endurance Technologies share price has seen strong gap up opening with strong volumes and is already up 10% despite coming off from the morning highs. The view remains positive and the bullish gap around ₹2,050 – 2,150 to act s support whereas ₹2,500 is next key resistance. Any dip would be buying opportunity.
As per the exchange filing, the firm reported a consolidated PAT of ₹680.5 crore for the full year FY2024, which was 41.9% higher than the previous year. Consolidated total income for the year, including other income, rose from ₹8,849.5 crore to ₹10,326.5 crore, a 16.7% YoY increase.
Consolidated EBITDA margin for the full year FY2024 was 13.7%, up from 12.2% the previous year, with margin growth in both the Europe and standalone businesses.
Compared to the previous year, aftermarket sales from Indian operations were ₹460.9 crore as opposed to ₹431.1 crore. During the year, Consolidated Basic and Diluted EPS was ₹48.38 per share, up from ₹34.09 per share during the same time the previous year, as per the exchange filing.
The board of directors recommended a dividend of ₹8.50 per equity share with a face value of ₹10 after reviewing the company’s financial results for the fiscal year.
“We have posted our best ever quarter and annual results in terms of standalone and consolidated topline and bottomline. New vehicle sales in the Indian 2W market and in the European car market have seen YOY improvement, but are still below 90% of pre-pandemic levels. Our record results have come on the back of our customer centric approach, as we continue not only to deliver quality products but also expand our product basket with an eye on the needs of OEM customers and vehicle owners,” said Anurang Jain, Managing Director of the Company.
The domestic brokerage, Motilal Oswal Financial Services, has maintained a buy call on the stock.
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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 17 May 2024, 11:14 AM IST