Profit before tax (PBT) stood at Rs 274.82 crore in fourth quarter of FY24, up 55.56% from Rs 176.67 crore in same quarter last year.
For the quarter, EBITDA grew 35.8% YoY to Rs 415.9 crore. EBITDA margin climbed to 15.3% in March 2024 quarter as compared to 13.6% in corresponding quarter previous fiscal.
On a full year basis, the company reported a 41.89% increase in consolidated net profit to Rs 680.49 crore on 16.32% rise in revenue from operations to Rs 10,240.87 crore in FY24 over FY23.
Anurang Jain, MD of the company said, “During FY24, Indian two-wheeler sales volumes grew by 9.8%. Endurance standalone Total Income rose 16.6% despite lower metal costs. Our European business turnover in Euro terms grew at 7.2%. Adjusted for aluminium price reduction passed through in sales, our growth stood at 9.5%, a shade lower than the 10.3% growth in EU new car registration numbers - which, in key markets, were bolstered by destocking of earlier produced cars.
Our strategy is to take the company to greater heights, in terms of growth, profitability and financial strength. We also aim to diversify and derisk such that we meet OEM needs across a larger array of vehicle segments with a larger basket of products across geographies, and also grow our non-automotive and aftermarket businesses.”
Meanwhile, the board has recommended dividend of Rs 8.50 per equity share for the financial year 2023-24. The dividend shall be paid on or after 29 August, 2024 but before 21st September, 2024.
Further, the firm informed that capital expenditure for a greenfield project has been approved and that it plans to set up a new facility to manufacture machined aluminium die casting components on its land parcel of about 11 acre situated at AURIC, Chh. Sambhajinagar (previously Aurangabad).
Endurance Technologies is one of the leading automotive component manufacturers, having a diverse range of technology intensified products with operations both in India and Europe (Italy and Germany).