Endurance Technologies commences production at Halol plant

The company has started manufacturing operations at its Halol plant in Gujarat from September 1. The plant will be manufacturing suspension products for OEMs.

Endurance Technologies Limited informed the exchange on Monday that the company has commenced operations at Halol plant.

In May 2017, the company had acquired a 7.4 acre plot on leasehold in Halol Industrial Estate of Gujarat Industrial Development Corporation. The company has set-up a plant to manufacture front forks and shock absorbers and has now commenced production for these products. It will gradually ramp up production as per the requirements of its OEM clients.

The Aurangabad-based company registered net sales of Rs. 1,864.56 crore for Q1FY19 as compared to Rs. 1,639.29 crore in Q1FY18. The company posted net profit of Rs. 124.58 crore for Q1FY19 as against Rs. 96.52 crore for the corresponding period a year ago.

On Monday, the stock of Endurance Technologies Limited closed at Rs. 1,370.00 per share, down by Rs. 33.20 or 2.37 per cent. This was in-line with the falling in the benchmark index BSE Sensex which closed at 36,305.02, down 536.58 points or 1.46 per cent.