Endurance Technologies Ltd

About

Endurance Technologies is engaged in the business of manufacturing and selling of aluminium die casting (including alloy wheel), suspension, transmission and braking products with operations spread across India.

Key Points

Company history[1]
The company was started by Anurag Jain with the help of his uncle Rahul Bajaj (The chairman of Bajaj group of companies) in 1985. Initially the company did only Aluminum die casting work for Bajaj Auto and Bajaj auto was their sole client till 2004 and the company ventured into various segments only after 2004.

See full details
  • Market Cap 25,874 Cr.
  • Current Price 1,839
  • High / Low 1,891 / 975
  • Stock P/E 38.6
  • Book Value 253
  • Dividend Yield 0.33 %
  • ROCE 16.6 %
  • ROE 15.8 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 7.26 times its book value
  • The company has delivered a poor sales growth of 4.59% over past five years.
  • Debtor days have increased from 46.18 to 58.06 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
1,937 1,813 1,900 1,909 1,771 1,641 1,597 603 1,770 2,041 2,133 1,694
1,657 1,560 1,576 1,568 1,480 1,380 1,359 560 1,457 1,689 1,801 1,449
Operating Profit 280 253 325 341 291 260 238 43 313 352 332 244
OPM % 14% 14% 17% 18% 16% 16% 15% 7% 18% 17% 16% 14%
Other Income 8 -11 6 7 11 12 17 11 7 -5 7 -19
Interest 5 8 7 6 5 4 3 4 4 4 2 1
Depreciation 92 94 109 93 99 100 123 86 97 104 112 98
Profit before tax 190 140 215 250 199 168 130 -36 220 238 225 126
Tax % 34% 31% 31% 34% 15% 26% 18% 31% 24% 20% 17% 23%
Net Profit 125 97 149 166 169 124 107 -25 167 190 187 97
EPS in Rs 8.90 6.86 10.57 11.77 12.02 8.82 7.59 -1.77 11.88 13.51 13.32 6.86

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
2,346 3,129 3,832 3,822 4,212 4,917 5,228 5,588 6,349 7,509 6,915 6,544 7,638
2,090 2,749 3,318 3,339 3,678 4,321 4,548 4,830 5,421 6,380 5,784 5,504 6,396
Operating Profit 255 380 514 483 534 596 680 758 928 1,129 1,131 1,040 1,242
OPM % 11% 12% 13% 13% 13% 12% 13% 14% 15% 15% 16% 16% 16%
Other Income 85 76 12 30 30 42 33 29 -3 6 48 19 -10
Interest 89 98 96 93 81 51 49 32 24 26 18 14 11
Depreciation 202 182 187 187 208 227 243 291 322 376 414 399 412
Profit before tax 50 177 243 233 276 359 420 465 579 733 747 647 809
Tax % 87% 28% 25% 27% 26% 29% 29% 29% 33% 32% 24% 20%
Net Profit 4 124 182 169 204 252 299 330 391 495 566 520 641
EPS in Rs 2.10 28.15 40.15 38.51 46.52 57.42 68.10 23.48 27.78 35.19 40.20 36.95 45.57
Dividend Payout % 0% 1% 2% 2% 3% 5% 4% 11% 14% 16% 14% 16%
Compounded Sales Growth
10 Years:8%
5 Years:5%
3 Years:1%
TTM:36%
Compounded Profit Growth
10 Years:15%
5 Years:12%
3 Years:9%
TTM:79%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:16%
1 Year:70%
Return on Equity
10 Years:21%
5 Years:19%
3 Years:19%
Last Year:16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
59 19 20 19 19 18 18 141 141 141 141 141
Reserves 235 400 590 716 961 1,124 1,432 1,589 2,032 2,424 2,865 3,421
Borrowings 1,049 1,058 980 949 698 764 831 694 814 730 750 641
663 655 748 656 838 879 1,000 1,087 1,353 1,475 1,306 1,544
Total Liabilities 1,964 2,129 2,336 2,339 2,515 2,784 3,281 3,510 4,340 4,770 5,062 5,747
1,125 1,151 1,195 1,181 1,271 1,453 1,587 1,634 1,851 2,163 2,606 2,603
CWIP 32 35 57 32 14 22 103 44 59 118 126 96
Investments 0 0 0 8 10 1 48 33 46 36 166 444
807 944 1,084 1,118 1,221 1,309 1,542 1,800 2,383 2,453 2,164 2,604
Total Assets 1,964 2,129 2,336 2,339 2,515 2,784 3,281 3,510 4,340 4,770 5,062 5,747

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
278 295 542 345 569 413 698 537 742 898 1,011 621
-157 -199 -238 -203 -212 -289 -509 -361 -436 -696 -671 -586
-102 -90 -235 -152 -377 -139 -114 -122 -24 -167 -258 -143
Net Cash Flow 19 6 69 -9 -20 -14 76 54 283 35 83 -108

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 71 64 58 59 58 43 41 50 56 45 36 58
Inventory Days 47 39 34 34 37 47 48 50 49 45 54 63
Days Payable 126 93 98 82 94 82 87 98 113 98 104 131
Cash Conversion Cycle -7 10 -5 11 1 9 3 2 -8 -8 -15 -10
Working Capital Days 19 24 17 27 19 20 12 20 16 9 8 27
ROCE % 20% 22% 20% 21% 22% 22% 21% 23% 25% 21% 17%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
82.50 82.50 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
9.97 10.02 15.72 16.37 16.97 16.82 16.34 11.80 11.59 10.61 9.85 8.34
5.21 5.12 5.98 5.72 6.65 6.86 7.36 11.64 11.91 12.80 13.51 15.17
2.32 2.36 3.30 2.91 1.38 1.32 1.30 1.56 1.50 1.59 1.64 1.49

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