Buy Endurance Technologies, target price Rs 1750: Motilal Oswal

Motilal Oswal has buy call on with a target price of Rs 1750. The current market price of Endurance Technologies Ltd. is Rs 1489.9.

Endurance Technologies Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 20952.43 Crore) operating in Auto Ancillaries sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 2040.86 Crore, up 15.29 % from last quarter Sales of Rs 1770.14 Crore and up 24.40 % from last year same quarter Sales of Rs 1640.53 Crore Company reported net profit after tax of Rs 190.05 Crore in latest quarter.

Investment Rationale
ENDU is the best proxy on India’s 2W industry and has the scope to increase content on the back of technological changes and new products. Coupled with its knowledge in aluminum die-casting in the EU, the brokerage believes there is scope to increase contribution from the PV segment

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of Dec 30, 2020, while FIIs held 10.6 per cent, DIIs 12.8 per cent and public and others 1.6 per cent.