Endurance Technologies (ENDURANCE) Q4 23/24 earnings summary

Executive summary

• Achieved record consolidated total income of ₹103,264.86 million in FY2023-24, up 16.7% year-over-year, surpassing the ₹100 billion milestone for the first time.

• Consolidated EBITDA rose 30.7% to ₹14,135.99 million, with EBITDA margin at 13.7%.

• Net profit increased 41.9% to ₹6,804.88 million, including a one-time mega project incentive of ₹792.35 million.

• Maintained a strong balance sheet with no net debt and consolidated positive cash exceeding ₹5 billion.

• Outperformed industry growth, driven by market share gains, premiumization, and expansion in 4-wheeler and EV segments.

Financial highlights

• Revenue from operations grew to ₹102,408.71 million from ₹88,040.46 million year-over-year.

• EBITDA margin improved to 13.7% from 12.2% year-over-year.

• Net profit margin increased to 6.6% from 5.4% year-over-year.

• EPS rose to ₹48.38 from ₹34.09 year-over-year.

• ROE improved to 16.5% from 12.9% year-over-year.

• Dividend of ₹8.50 per share proposed for FY2023-24, up from ₹7.00 per share.

Outlook and guidance

• Targeting 45% share of 4-wheeler end-use in consolidated turnover by 2030.

• Strategic focus on premium bike segment, EV components, and non-automotive aluminium casting.

• Aftermarket business to reach 10% of domestic sales by FY2027-28.

• New greenfield facility at AURIC, Chhatrapati Sambhajinagar, to be operational in Q1 FY2025-26, with projected annual revenue exceeding ₹5,000 million.

• Committed to achieving 50% carbon neutrality and zero landfill waste by 2030.