Endurance Technologies’ Q1 revenue up 7.4% at Rs 1,556 crore

Aurangabad-based component supplier Endurance Technologies has reported revenues of Rs 1,556 crore in Q1 FY2017-18, an increase of 7.4 percent compared to Rs 1,449 crore for the same period last year.

In Q1, profit after tax (PAT) stood at Rs 96 crore, an increase of 16 percent YoY (Q1 FY17: Rs 83 crore), EBITDA at Rs 219 crore and margin at 14.1 percent (Q1 FY17: Rs 195 crore: Margin 13.5%).

As per the company, revenues from India operations contributed 69.4 percent while European operations contributed 30.6 percent. Effectively, the total income including other income in India grew by 11.8 percent (Q1 FY18: Rs 1,080 crore: Q1 FY17: Rs 966 crore).

The aftermarket sales from India operations saw a growth of 5.22 percent (Rs 45.8 crore vs Rs 43.5 crore).

Commenting on the result, Anurang Jain, MD, Endurance Technologies, said, “Two-wheeler growth rebounded during Q1 FY18, the company’s performance witnessed top-line growth and improved profitability during this period. Such improvement was also driven by a strong focus on operations. The subsidiaries in Europe turned in yet another quarter of impressive performance.”

Jain also commented that the company had completed land acquisition for construction of a new plant in Halol, Gujarat and consolidation of its plant near Pune is in progress. The company also implemented a Voluntary Separation Scheme during the quarter, and Endurance Technology is embarking on an expansion plan at its die casting unit in Chennai.