BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Endurance Technologies Ltd.’s consolidated revenue came in above our estimate by ~15%, mainly on the back of higher realisations following price hikes.
Standalone revenue declined by ~3% YoY (up ~4% QoQ) to ~Rs 15.5 billion, better than our estimate and much better than the ~18.4% YoY decline in domestic two-wheeler industry volume, led by execution of new orders.
Revenue from European operations declined by ~2% YoY in Indian rupee terms.
Endurance Technologies' consolidated Ebitda margin at 12.4% beat our estimate, largely due to better operating leverage, driven by higher revenue.
Gross margin in the India business improved by ~130 bps QoQ mainly due to price hikes taken to counter raw material cost inflation.
European business’ profitability was substantially impacted due to elevated energy and commodity costs amid the ongoing geopolitical issues.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR