Endurance Tech share price gains on FY20 numbers

The shares of Endurance Technologies were trading in green on Friday after the company reported that its net profit rose 19.51 per cent to Rs 427.69 crore in the year ended March 2020, as compared to its previous fiscal year.

For the quarter ending March 2020, the company’s performance took a hit owing to COVID outbreak with its sales volume of two-wheelers registering de-growth of 20 per cent. Sales declined 16.13 per cent to Rs 1,124.39 crore in Q4FY20, as against Rs 1,340.60 crore during Q4FY19. The company's net profit declined 34.85 per cent to Rs 71.85 crore as against Rs 110.28 crore during the previous quarter ended March 2019.

With regards to COVID outbreak, the company stated that it lost revenues for approximately nine days in FY20. While the revenues in April 2020 were negligible, the company expects a gradual ramp-up with the restoration of normal volumes in the third quarter and probable growth in the fourth quarter of this fiscal.

Endurance Technologies is one of the leading automotive component manufacturers, having a diverse range of technology intensified products with operations both in India and Europe.

On Friday, the stock of the company closed at Rs 895, up by 1.08 per cent or Rs 9.55 per share. The 52-week high is recorded at Rs 1,201.90 and the 52-week low is Rs 562 on BSE.