Endurance Technologies Ltd - 4QFY20 Result - Angel Broking

Mr. Rajit Rajoriya, Equity Research Associate, Angel Broking Ltd.

Endurance Technologies Ltd

"Consolidated Revenue from operations declined by 15.3% to Rs 1614.2 crore against our estimates of 1620Cr. and compared to Revenue of Rs 1906 crore in the same period of 2018-19. EBITDA margin was down by 150bps YoY to 15.8% broadly in line with our expectations. Net profit was down by 28.1% to Rs 106.8 crore.

The lockdown due to the COVID-19 pandemic resulted in Q4 sales volume of two-wheelers registering a de-growth of 20%. The sector had suffered de-growth of 12.8% in the first three quarters of this fiscal. On a full year basis, de-growth was 14.4%. Endurance standalone top-line de-growth was contained to 9.5%.

Production at plants in India was suspended for periods ranging from 30 to 50 days between March and May. Production at plants in Italy were also suspended due to lockdown for about 40 days. Consequent upon the lockdown, Endurance lost revenues for approximately 9 days in FY 2019-20. Revenues in April 2020 were also negligible. Resumption of industrial activity has been tepid through the month of May, and June has seen improved volumes."

Shares of Endurance Technologies Ltd was last trading in BSE at Rs.884 as compared to the previous close of Rs. 902.8. The total number of shares traded during the day was 5074 in over 903 trades.

The stock hit an intraday high of Rs. 934.6 and intraday low of 873.4. The net turnover during the day was Rs. 4560810.

Source : Equity Bulls

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