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It filed for an IPO again in July this year. Endurance was established in as Anurang Engineering Co. Ltd to manufacture aluminium die casting products in Aurangabad, Maharashtra. Endurance has 24 manufacturing facilities—17 in India, five in Italy and two in Germany. It also was first insurer to hit the market with an IPO. Looks like you have exceeded the limit to bookmark the image.
Remove some to bookmark this image. You are now subscribed to our newsletters. Subscribe to Mint Newsletters. Recommended For You. Select your Category Query Suggestion. For a more detailed description of its business, head to this page. Anurang father Naresh Chandra Jain headed a Bajaj group company Kaycee Industries for a long time and these ties played a key role in the subsequent establishment of components business in through Endurance.
Endurance Technologies is a steady performer with revenues and profits growing in each of the last three years. The company earned a profit of INR2. More importantly, its margins have been going up consistently. There are several positives we see with Endurance IPO. As mentioned earlier, it has close relationships with Bajaj Auto but Endurance management has done a great job of reducing this dependence on a single OEM.
At the same time, it has grown business with Fiat Chrysler and Royal Enfield in the last three years while the contribution of the next 5 biggest clients has also gone up. In revenue terms, the aftermarket business faster than our other product segments from FY to FY, experiencing a Typically, margins in components business are better in aftermarket as OEM customers tend to squeeze margins when awarding contracts.
As it grows its business in the four-wheeler segment, Endurance has lot of headroom to improve margins from the current levels. For the next years, the outlook for the local automotive industry is positive and this has been reinforced by better monsoon and implementation of latest pay commission. At the end of FY , it had a comfortable debt equity ratio of 0. As we have explained, the quality of earnings and margins at Endurance Technologies is better than its smaller competitors and in some cases, is even better than bigger players like Bharat Forge and Motherson Sumi.
As a result, there is a case for listing gains in Endurance IPO. This puts Endurance IPO in a grey area where listing gains look possible but anything more than that is clouded. Save my name, email, and website in this browser for the next time I comment. Sign in. Log into your account. Password recovery.
Automotive parts maker Endurance Technologies had raised Rs 1, crore through initial public offering (IPO), which was oversubscribed times. The company fixed the issue price at. firehousehouston.com › Markets › News. Endurance Technologies IPO is a main-board IPO of 24,, equity shares of the face value of ₹10 aggregating up to ₹1, Crores. The.