
Endurance Technologies Limited announced the unaudited financial results for the half year ended 30th September, 2018. The company’s consolidated total income including other income (excluding Excise Duty) grew by 23.3% to INR 38,093 million in H1 FY 2018-19, from INR 30,896 million in H1 FY 2017-18.
Endurance said 72% of consolidated total income including other income came from Indian operations and balance 28% came from European operations. Consolidated PAT (before minority interest and OCI) stood at to INR 2,498 million, up 27.3% from INR 1,962 million. Consolidated EBITDA Margin improved to 14.8% in H1 FY 2018-19 from 14.7% in H1 FY 2017-18.
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Aftermarket sales from Indian operations grew from INR 983 million in H1 FY 2018-19 to INR 1,218 million in H1 FY 2018-19. Exports from India grew by 71.7% to INR 1,284 million from INR 748 million.
Mr. Anurang Jain, Managing Director of the Company said; "The second quarter saw YOY growth of 7.1% in overall automotive sales volumes, and 7.0% in the number of two-wheelers sold by Indian OEMs. During this period, Endurance recorded a topline growth of 26.5% in its India business.
“Similarly, while new car registrations in the European Union grew 1.6% during Q2, Endurance Europe delivered topline growth of 6.7%. Our strategy of making significant inroads with existing and new customers has helped us achieve growth well in excess of the market growth.”
“In the investor communications that we conducted in previous quarters, we had announced several new orders and LOIs received from our esteemed customers. We are adding new manufacturing facilities and expanding some of our existing ones to cater to this new business. Our new plant at Halol in Gujarat has commenced production on 1st September, 2018.”
Endurance is one of the leading automotive component manufacturers, with operations both in India and Europe (Italy and Germany). In India, the company cater to two and three wheeler OEMs and its products include aluminium castings, suspensions, transmission and braking systems. In Europe, it caters to four wheeler OEMs and mainly supply aluminium casting products.
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