HDFC Securities: Endurance Technologies Moving Up The Value Curve

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..HDFC Securities Report.We initiate coverage on Endurance Technologies with a Buy as the auto parts major is expected to gain 50-75 basis points in share of component supplies to 2 wheeler and 3 wheeler segment (current value of supplies by the company is estimated at between 5-6%). The auto parts company is expanding into new components such as Anti-lock Braking System (ABS) brakes, Continuously Variable Transmission (CVT)s, paper-based clutches and fully machined castings, thereby moving up the value curve.The company currently has Request for Quote (RFQ)s of Rs 12.8 billion and has won orders of Rs 10.3 billion / 5.8 billion over FY19/20. With the recent acquisition of its Italian technology partners – Grimeca and Adler, the company is further enhancing its capabilities for supplies to the premium bike segment. Endurance is amongst our preferred pick in the autos/auto parts sector as the company is well positioned to benefit from a demand recovery over FY22/23E..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

HDFC Securities: Endurance Technologies Moving Up The Value Curve

HDFC Securities: Endurance Technologies Moving Up The Value Curve

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