Endurance Technologies Q3 Results Review- Consistent Improvement In Order Book, EV Play Improving: Anand Rathi

"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..Anand Rathi Report.Endurance Technologies Ltd.'s Q3 FY23 revenue grew 11% YoY, but declined 11% QoQ, to Rs 20.1 billion, on strong demand on order-book execution. During nine months-FY23, the company won orders of Rs 8.8 billion (Rs 1.9 billion in Q3 FY23) and had request for quotations of Rs 19.9 billion. For electric vehicles, its overall order book for 9M FY23 was Rs 5.8 billion, including Rs 1.9 billion orders for Ather and Hero MotoCorp Ltd. (~Rs 2.4 billion won in Q3). Endurance Technologies will supply battery management systems, braking systems and suspension systems to EV original equipment manufacturers like Ather, Hero Motors, Ola, Ampere, etc. For its braking business, it plans to develop ABS valves internally, which would reduce costs significantly and dependence on external suppliers, said management. For passenger vehicles, it won orders of Rs 2.5 billion to supply castings to Hyundai and KIA. PV-to-overall sales is now 8% (versus 6.5% in FY22).Europe's Q3 FY23 revenue was €60.1 million (versus €57 million the prior quarter); Ebitda was €8.6 million (€6 million), with strong ~14.4% margins. Adjusting for higher raw material costs in Europe, margins would have been 14.7%. It won orders of €60.1 million from VolksWagen, Stellantis and Daimler. As the orders enter the production phase and subsequently peak in the near term, we expect 18% growth in FY24 and 19% in FY25..Click on the attachment to read the full report:.Uno Minda Q3 Results Review - Strong Performance Continues: Systematix.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."

Endurance Technologies Q3 Results Review- Consistent Improvement In Order Book, EV Play Improving: Anand Rathi

During 9M FY23, the company won orders of Rs 8.8 billion and had request for quotations of Rs 19.9 billion.

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Endurance Technologies Q3 Results Review- Consistent Improvement In Order Book, EV Play Improving: Anand Rathi

During 9M FY23, the company won orders of Rs 8.8 billion and had request for quotations of Rs 19.9 billion.

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