Endurance Technologies lists at a premium

Endurance Technologies has made a strong listing. The shares of the company have listed at a 22 per cent premium to the issue price. Incorporated in 1999, the company is a prominent 2-wheeler and 3-wheeler component supplier in India and 4-wheeler auto component supplier in Europe. It has 25 manufacturing facilities of which 18 are in India and 7 are in Europe (5 plants in Italy and 2 in Germany).

The issue was oversubscribed 43.84 times. The reserved portion of qualified institutional buyers oversubscribed 53.43 times and non-institutional investors 127.07 times. This public issue will be utilised to reap benefit of brand equity by listing of equity shares on the stock exchanges.  

Endurance Technologies' financial numbers are strong. The company has reported 8 per cent five year CAGR growth in total domestic revenue with production growth at 6.1 per cent CAGR in FY16. In FY16, total revenue has increased by 7 per cent to Rs 5627 crore on a YoY basis led by rise in revenue by 10 per cent from Europe division. EBITDA and PAT of the company also are up by 11 per cent and 15 per cent respectively in FY16 on a yearly basis.