Motilal Oswal has given Buy recommendation for Endurance Technologies recommended buy rating on the stock with a target price of Rs 1620 in its researc with a target price of Rs. 1620 in its research report issued on May 21, 2022

Motilal Oswal’s research report on Endurance Technologies

ENDU’s 4QFY22 result was decent considering the muted domestic demand for 2Ws and high energy costs in the EU. While ENDU has been winning new orders both in the domestic and export markets, its recent acquisition of Maxwell has opened up new opportunities in the electronic business (BMS, telematics, etc.) for EVs.


We raise our FY23E/FY24E EPS by 13%/4% to factor in the growth in the EU business. We maintain our BUY rating with a TP of INR1,620 (premised on 27x Jun’24E EPS).

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