This Leading Auto component manufacturer is in focus after it announced receiving an incentive from the Maharashtra Package Scheme of Incentives for its investments made in Fixed assets in Units situated in Sambhajinagar.
Share Price Movement
With a market capitalization of Rs. 24,815 Crore, the stock of Endurance Technologies opened at Rs. 1555.65, down 15.29 percent from yesterday’s close; however, later it recovered from its day low, reaching a high of Rs. 1795.
The Sharp fall in the opening price can be attributed to the global market fall around the world. Additionally, the Yearly return for the stock is -7 percent, and the past 5-year return is an impressive 200 percent.
Update from Company
The Company has received an Eligibility Certificate under the Maharashtra Package Scheme of Incentives (PSI)-2019 scheme for its Waluj expansion, entitling it to incentives worth Rs. 606 Crore on investments made between April 2019 and August 2024. The incentives will be availed through State Goods and Services Tax (SGST) subsidy and Electricity Duty exemption from October 2024 to September 2031.
Also read: Why did Siemens India crash by up to 50% today?
Financial Highlights
The company reported an 11.63 percent YoY increase in revenue from Rs. 2,561 Crore in Q3FY24 to Rs. 2,859 Crore in Q3FY25. On a QoQ basis, the company reported a decrease of 1.85 percent in revenue from Rs. 2,913 Crore in the previous quarter.
Their Net profit saw an increase of 21.05 percent YoY from Rs. 152 Crore to Rs. 184 Crore for the same period. On a QoQ basis, the company reported a decrease of 9.35 percent in Net profit from Rs. 203 Crore in the previous quarter.
About the Company
Endurance is a leading auto component manufacturer with an expanding global footprint. They are the largest Aluminum Die-Casting company in India and the largest 2 & 3-wheeler auto component manufacturer in India. They are an end-to-end supplier, from design to manufacturing – culminating into after-sales service. The company has built a culture of fostering innovation, which manifests in its state-of-the-art R&D centers and technology-oriented solutions.
Written By Abhishek Das
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