Endurance Technologies Limited Company Details Report
Endurance Technologies Limited has emerged as the leading two-wheeler and three-wheeler auto component manufacturer and the largest aluminium die-casting company (in terms of actual output & installed capacity) in India, coupled with a widespread global business in Europe through its overseas subsidiaries in Italy and Germany. As an end-to-end solution provider of a diverse product portfolio, Endurance is equipped to meet a wide variety of OEM needs- from conception to servicing the end user, for aluminium diecasting and alloy wheels, suspension, braking systems and transmission products. Starting with 2 aluminium die-casting machines in 1985, the company has grown to have 31 strategically located manufacturing facilities near its OEMs (19 in India and 11 overseas). In FY24, companyโs market share (calculated on estimated 2W production in India, with disk brakes) in Front Fork, Rear Shox, disc brake systems, brake discs, and clutches was 41%, 37%, 41%, 56% and 13%, respectively. In the Castings business, Endurance is the market leader in aluminium die-casting and machining, and it has over three decades of experience not only in development and manufacturing of high pressure, low pressure and gravity die-casting products, but also in design and production of tools and dies, and in precision machining of the as-cast (metals which has not undergone any finishing or treatment of any kind including heat treatment after casting) products. In the Proprietary business, the company is a leader in high-performance suspension systems for two-wheelers, three-wheelers, and quadricycles, supplying products domestically and internationally. It offers a range of front forks, shock absorbers, and adjustable damping solutions. In braking, the company excels in advanced solutions for two-wheelers and three-wheelers, being the first in India to develop split-type, integral, and fixed-type calipers, as well as master cylinders with integral and remote reservoirs. It introduced ABS for 150cc+ motorcycles with BWI North America Inc. and is unique in having in-house manufacturing for all key braking components. New FY24 products include 2W ABS modulators, 3W driveshafts, Battery Management Systems (BMS), aluminum forgings, castings for EVs and non-auto applications, and higher CC vehicle brakes.
Endurance Technologies Limited has emerged as the leading two-wheeler and three-wheeler auto component manufacturer and the largest aluminium die-casting company (in terms of actual output & installed capacity) in India, coupled with a widespread global business in Europe through its overseas subsidiaries in Italy and Germany. As an end-to-end solution provider of a diverse product portfolio, Endurance is equipped to meet a wide variety of OEM needs- from conception to servicing the end user, for aluminium diecasting and alloy wheels, suspension, braking systems and transmission products. Starting with 2 aluminium die-casting machines in 1985, the company has grown to have 31 strategically located manufacturing facilities near its OEMs (19 in India and 11 overseas). In FY24, companyโs market share (calculated on estimated 2W production in India, with disk brakes) in Front Fork, Rear Shox, disc brake systems, brake discs, and clutches was 41%, 37%, 41%, 56% and 13%, respectively. In the Castings business, Endurance is the market leader in aluminium die-casting and machining, and it has over three decades of experience not only in development and manufacturing of high pressure, low pressure and gravity die-casting products, but also in design and production of tools and dies, and in precision machining of the as-cast (metals which has not undergone any finishing or treatment of any kind including heat treatment after casting) products. In the Proprietary business, the company is a leader in high-performance suspension systems for two-wheelers, three-wheelers, and quadricycles, supplying products domestically and internationally. It offers a range of front forks, shock absorbers, and adjustable damping solutions. In braking, the company excels in advanced solutions for two-wheelers and three-wheelers, being the first in India to develop split-type, integral, and fixed-type calipers, as well as master cylinders with integral and remote reservoirs. It introduced ABS for 150cc+ motorcycles with BWI North America Inc. and is unique in having in-house manufacturing for all key braking components. New FY24 products include 2W ABS modulators, 3W driveshafts, Battery Management Systems (BMS), aluminum forgings, castings for EVs and non-auto applications, and higher CC vehicle brakes.
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In the Transmission segment, it has been a leading player in transmission systems for two wheelers and three wheelers since the past two decades. Its long presence in the market has given it a deep understanding of the needs of the OEM customer through the end user which enables it to continuously develop a wide range of technologically advanced reliable clutches and continuous variable transmissions (CVTs). In the EV (electric vehicle) & Hybrid space, it is focused on supply of products for EV two wheelers and three wheelers for value addition. It has already started supplies of brake assembly, suspension and aluminium castings for electric scooter and three wheelers. The company is also focusing on e-bicycles business, especially for suspension and brakes, and is in advanced talks with few OEMs. Aftermarket segment (started in 2001) is one of the key focus area for the company which has been over the years been catering to the two wheelers and three wheelers component replacement market in India and overseas. Its main focus is on suspension, braking systems and transmission products that are manufactured in-house. Tyres are manufactured through outsourcing which are based on its registered tread designs and it has started supplies to domestic and global markets. In FY24, the Company expanded its reach to 213 districts in India through 444 distributors and entered three additional countriesโBrazil, DR Congo, and Cameroonโbringing its total presence to 34 countries. It is also focusing on outsourced value-added products. While the aftermarket has primarily targeted two-wheeler and three-wheeler segments, it plans to enter the four-wheeler aftermarket segment as well. In Europe, it predominantly caters to four-wheeler OEMs (Daimler, Stellantis, Volkswagen including Porsche & Audi) focusing on engine and transmission components. Its products include raw and machined aluminium castings (high-pressure and gravity diecasting products) and steel, cast iron and engineering plastic parts.
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#SALES #GROWTH
In FY24, net sales reached โน10,241 cr, and grew by 16% YoY, led by increase in domestic operations (including Maxwell Energy) and 14% growth in overseas operations, the company's expansion was fuelled by strong industry volume growth in the two-wheeler and three-wheeler segments. In addition to favourable industry trends, revenue growth in domestic & international operations benefited from the commercialisation of previous business wins. In 9M FY25, the net sales was โน8,598 cr v/s โน7,556 cr in 9M FY24, an increase of 14% YoY. For the period, the company won orders worth โน780 cr (of this ~50% constitutes order from EV segment). Of the above stated order book Aluminium casting segment was โน378 cr, suspension โน141 cr, brakes โน171 cr and transmission clutch assemblies at โน52 cr. The business win towards Europe operations was โฌ36 million (~โน324 cr).
In FY24, net sales reached โน10,241 cr, and grew by 16% YoY, led by increase in domestic operations (including Maxwell Energy) and 14% growth in overseas operations, the company's expansion was fuelled by strong industry volume growth in the two-wheeler and three-wheeler segments. In addition to favourable industry trends, revenue growth in domestic & international operations benefited from the commercialisation of previous business wins. In 9M FY25, the net sales was โน8,598 cr v/s โน7,556 cr in 9M FY24, an increase of 14% YoY. For the period, the company won orders worth โน780 cr (of this ~50% constitutes order from EV segment). Of the above stated order book Aluminium casting segment was โน378 cr, suspension โน141 cr, brakes โน171 cr and transmission clutch assemblies at โน52 cr. The business win towards Europe operations was โฌ36 million (~โน324 cr).
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#EBITDA #GROWTH
In FY24, the EBITDA was โน1,328 cr and increased by 28.1% YoY. This increase can be attributed to rise in sales and better product mix in India & Europe. Electricity and gas prices in Europe have decreased compared to the previous year. It is capitalizing on the shift to higher value-added products like fully machined castings, paper-based clutches, and electronic suspensions and this has led to rise in margins. In 9M FY25, the EBITDA was โน1,129 cr v/s โน938 cr, an expansion of 20% YoY with gross profit expansion in similar range. This increase can be attributed to favourable raw material cost in India, and effective cost control measures adoption in Europe.
In FY24, the EBITDA was โน1,328 cr and increased by 28.1% YoY. This increase can be attributed to rise in sales and better product mix in India & Europe. Electricity and gas prices in Europe have decreased compared to the previous year. It is capitalizing on the shift to higher value-added products like fully machined castings, paper-based clutches, and electronic suspensions and this has led to rise in margins. In 9M FY25, the EBITDA was โน1,129 cr v/s โน938 cr, an expansion of 20% YoY with gross profit expansion in similar range. This increase can be attributed to favourable raw material cost in India, and effective cost control measures adoption in Europe.
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#PAT #GROWTH
In FY24, the PAT growth was 42% YoY and stood at โน681 cr. PAT includes mega project incentive of โน79.2 cr from the Maharashtra State government. The tax rate was 24% in FY24. In 9M FY25, the net profit was โน591 cr v/s โน471 cr, a growth of 25.5% YoY. The increase was led by rise in operating profits and other income.
In FY24, the PAT growth was 42% YoY and stood at โน681 cr. PAT includes mega project incentive of โน79.2 cr from the Maharashtra State government. The tax rate was 24% in FY24. In 9M FY25, the net profit was โน591 cr v/s โน471 cr, a growth of 25.5% YoY. The increase was led by rise in operating profits and other income.
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#EBITDA #MARGIN
In FY24, the EBITDA margin was 13% an increase of 120 bps YoY. In India EBITDA margin stood at 13.3% and for Europe it was 16.1%. The increase can be attributed to better product mix coupled with favorable raw material prices in India as well as Europe. In 9M FY25, the EBITDA margin was 13.1% v/s 12.4% in 9M FY24. The increase was on account of better product mix, favourable raw material cost and cost control measures by European operations. The standalone operations reported EBITDA margin at 13.4% v/s 12.8% in 9M FY24 while the European operations had an EBITDA margin of 16.2% as compared to 15.5% in 9M FY24.
In FY24, the EBITDA margin was 13% an increase of 120 bps YoY. In India EBITDA margin stood at 13.3% and for Europe it was 16.1%. The increase can be attributed to better product mix coupled with favorable raw material prices in India as well as Europe. In 9M FY25, the EBITDA margin was 13.1% v/s 12.4% in 9M FY24. The increase was on account of better product mix, favourable raw material cost and cost control measures by European operations. The standalone operations reported EBITDA margin at 13.4% v/s 12.8% in 9M FY24 while the European operations had an EBITDA margin of 16.2% as compared to 15.5% in 9M FY24.
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#ROCE
In FY24, the ROCE observed a rise on account of increase in PBIT and stood at 17.7%. The return on capital employed had previously declined due to capital deployment in expanding existing and new segments in India and Europe. However, in FY24, ROCE improved as earlier investments began to yield benefits, supported by strong growth in the two-wheeler and four-wheeler industries in India and a recovery in the European four-wheeler sector.
In FY24, the ROCE observed a rise on account of increase in PBIT and stood at 17.7%. The return on capital employed had previously declined due to capital deployment in expanding existing and new segments in India and Europe. However, in FY24, ROCE improved as earlier investments began to yield benefits, supported by strong growth in the two-wheeler and four-wheeler industries in India and a recovery in the European four-wheeler sector.
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#ROE of the company has remained healthy, however it has seen decline since past few years due to fall in net profit. There has been an increase in net worth over the years owing to rise in retained earnings. In FY24, the ROE of the company increased to 14.5%. The company launched an IPO on 5th October 2016, which was a fully offer-for-sale issue totalling โน1,162 cr. The primary objective of this IPO was to capitalize on the advantages of listing its equity shares on the stock exchanges.
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#COMPANY #POTENTIAL
โข According to the European Automobile Manufacturers' Association (ACEA), global vehicle registrations grew by 9.7% in CY2023, reaching 7.25 crore vehicles, up from 6.61 crore in CY2022. Registrations increased by 13.9% in the European Union (1.05 crore compared to 93 lakh in CY2022), 14.4% in the USA (1.2 cr compared to 1.08 cr), 4.5% in China (2.23 cr compared to 2.14 cr), and 8.5% in India (from 38 lakh to 42 lakh). This growth reflects a steady recovery from the global pandemic and the associated supply chain challenges faced by car manufacturers. โข In the European Union, pure battery electric vehicles (BEVs) achieved a market share of 14.6%, while plug-in hybrids (PHEVs) held 7.7%, and hybrid electric vehicles (HEVs), including mild hybrids, represented 25.8%. In contrast, the market share for traditional combustion vehicles declined to 48.9%, with petrol vehicles at 35.3% and diesel vehicles at 13.6%. 1.8 cr units YoY. โข According to S&P Global Mobility's findings released by ACEA, global car production rose by 10.2% in CY23, reaching 7.6 crore units. The European Union saw an 11.3% increase, producing 1.2 crore vehicles. The USA's production grew by 8.5% to 76 lakh vehicles. China produced 2.53 crore cars, reflecting a growth rate of 9.1%, while Indiaโs production increased by 6.8%, reaching 47 lakh vehicles. Germany experienced a notable surge, with production hitting 40 lakh vehicles, representing an 18.7% growth compared to the previous year. โข India produces over 2.1 crore two-wheelers annually, making it the worldโs largest manufacturer in this segment. In the Indian automobile market for FY24, domestic two-wheeler sales represented around 76% of total sales by volume, rising from 1.6 cr to 1.8Crs
โข According to the European Automobile Manufacturers' Association (ACEA), global vehicle registrations grew by 9.7% in CY2023, reaching 7.25 crore vehicles, up from 6.61 crore in CY2022. Registrations increased by 13.9% in the European Union (1.05 crore compared to 93 lakh in CY2022), 14.4% in the USA (1.2 cr compared to 1.08 cr), 4.5% in China (2.23 cr compared to 2.14 cr), and 8.5% in India (from 38 lakh to 42 lakh). This growth reflects a steady recovery from the global pandemic and the associated supply chain challenges faced by car manufacturers. โข In the European Union, pure battery electric vehicles (BEVs) achieved a market share of 14.6%, while plug-in hybrids (PHEVs) held 7.7%, and hybrid electric vehicles (HEVs), including mild hybrids, represented 25.8%. In contrast, the market share for traditional combustion vehicles declined to 48.9%, with petrol vehicles at 35.3% and diesel vehicles at 13.6%. 1.8 cr units YoY. โข According to S&P Global Mobility's findings released by ACEA, global car production rose by 10.2% in CY23, reaching 7.6 crore units. The European Union saw an 11.3% increase, producing 1.2 crore vehicles. The USA's production grew by 8.5% to 76 lakh vehicles. China produced 2.53 crore cars, reflecting a growth rate of 9.1%, while Indiaโs production increased by 6.8%, reaching 47 lakh vehicles. Germany experienced a notable surge, with production hitting 40 lakh vehicles, representing an 18.7% growth compared to the previous year. โข India produces over 2.1 crore two-wheelers annually, making it the worldโs largest manufacturer in this segment. In the Indian automobile market for FY24, domestic two-wheeler sales represented around 76% of total sales by volume, rising from 1.6 cr to 1.8Crs
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#COMPANY #OUTLOOK
โข Endurance Overseas SpA, Italy, a subsidiary of the company, has entered into a Share Purchase Agreement (SPA) on 12th December 2024, to acquire a 60% stake in Stoferle Automotive GmbH and Stoferle GmbH, Germany for a cash consideration of โฌ37.74 million (~โน340 cr), subject to regulatory clearance from Europe antitrust authorities. The SPA also includes call and put options for the acquisition of the remaining 40% stake, which will be exercised over five years starting from June 2026. Stoferle specialize in manufacturing machined aluminum castings for automotive applications. The completion of the 60% stake acquisition was completed on 2nd April 2025, and now Stoferele would be the subsidiary of the company. โข The acquisition of Stรถferle is expected to generate up to โฌ80 million in sales and โฌ15-16 million in EBITDA, providing a significant strategic advantage by adding a profitable company and expanding access to a broader OEM customer base. Additionally, Stรถferle's key skills and capabilities will create strong synergies and drive major growth opportunities in the German market. While the region has faced inflationary pressures due to high energy costs, the company is actively implementing mitigation measures. โข Endurance Overseas SpA, Italy, a subsidiary of the company, has acquired a 100% stake in Ingenia Automation Srl, Italy, with effect from 31st May 2024. Based in Turin, Ingenia specializes in the design, production, and installation of industrial automation systems. The acquisition was completed for a total consideration of up to โฌ3.6 million, which includes an earn-out of up to โฌ0.6 million, payable after 31st December 2027, subject to the fulfillment of certain conditions. โข Sales to KTM India are projected to reach ~โน120 cr in FY26 based on the received schedules. Additionally, sales of braking systems to KTM in both India and overseas markets will commence in H2 FY26. With KTM consistently providing opportunities for advanced technology products, there is also potential to expand these offerings to other OEM clients.
Technical assistance agreement signed with a Korean entity to manufacture suspensions and struts for 4W. It would be setting up AURIC Shendra project focused on machined castings for 4W and non-automotive. The SOP is expected in mid 2025. Production has commenced for machined casting expansion in Waluj/Pantnagar for EV, petrol, CNG models for 2W/3W OEM. It has added capacities in Waluj and Narsapura to service a large order for scooter front forks from a Japanese OEM. Production commenced in January 2025. โข Discussions with global leaders are progressing well, with business wins for 3 to 4 products expected to be finalized within the next six months. This aligns with the strategy to expand the contribution of the 4W segment to total income. The current focus CNG models for 2W/3W OEM. remains on 4W suspension, brakes, drive shafts, and alloy wheels, alongside the continued growth of the 4W casting and aluminum forging business. โข It embarked on a special project which will span over the next two years to increase its aftermarket sales to 10% by FY28. This is being done in collaboration with one of the top global consultancy firms. The approach is to operate all levers, namely the market spread, new product introductions, merchandising, exports, and 4W products to achieve the target growth. โข The company is setting up AURIC Shendra project in Sambhajinagar, focused on machined castings for 4W and non-automotive and the SOP expected in mid 2025. Production has commenced for machined casting expansion in Waluj/Pantnagar for EV, petrol, โข It has increased Chakan alloy wheel capacity from 4.5 to 5.5 million wheels p.a and they plan to double the alloy wheel capacity by setting up AURIC Bidkin, a greenfield project for Alloy wheels. The SOP is expected in Q2FY26.
โข Endurance Overseas SpA, Italy, a subsidiary of the company, has entered into a Share Purchase Agreement (SPA) on 12th December 2024, to acquire a 60% stake in Stoferle Automotive GmbH and Stoferle GmbH, Germany for a cash consideration of โฌ37.74 million (~โน340 cr), subject to regulatory clearance from Europe antitrust authorities. The SPA also includes call and put options for the acquisition of the remaining 40% stake, which will be exercised over five years starting from June 2026. Stoferle specialize in manufacturing machined aluminum castings for automotive applications. The completion of the 60% stake acquisition was completed on 2nd April 2025, and now Stoferele would be the subsidiary of the company. โข The acquisition of Stรถferle is expected to generate up to โฌ80 million in sales and โฌ15-16 million in EBITDA, providing a significant strategic advantage by adding a profitable company and expanding access to a broader OEM customer base. Additionally, Stรถferle's key skills and capabilities will create strong synergies and drive major growth opportunities in the German market. While the region has faced inflationary pressures due to high energy costs, the company is actively implementing mitigation measures. โข Endurance Overseas SpA, Italy, a subsidiary of the company, has acquired a 100% stake in Ingenia Automation Srl, Italy, with effect from 31st May 2024. Based in Turin, Ingenia specializes in the design, production, and installation of industrial automation systems. The acquisition was completed for a total consideration of up to โฌ3.6 million, which includes an earn-out of up to โฌ0.6 million, payable after 31st December 2027, subject to the fulfillment of certain conditions. โข Sales to KTM India are projected to reach ~โน120 cr in FY26 based on the received schedules. Additionally, sales of braking systems to KTM in both India and overseas markets will commence in H2 FY26. With KTM consistently providing opportunities for advanced technology products, there is also potential to expand these offerings to other OEM clients.
Technical assistance agreement signed with a Korean entity to manufacture suspensions and struts for 4W. It would be setting up AURIC Shendra project focused on machined castings for 4W and non-automotive. The SOP is expected in mid 2025. Production has commenced for machined casting expansion in Waluj/Pantnagar for EV, petrol, CNG models for 2W/3W OEM. It has added capacities in Waluj and Narsapura to service a large order for scooter front forks from a Japanese OEM. Production commenced in January 2025. โข Discussions with global leaders are progressing well, with business wins for 3 to 4 products expected to be finalized within the next six months. This aligns with the strategy to expand the contribution of the 4W segment to total income. The current focus CNG models for 2W/3W OEM. remains on 4W suspension, brakes, drive shafts, and alloy wheels, alongside the continued growth of the 4W casting and aluminum forging business. โข It embarked on a special project which will span over the next two years to increase its aftermarket sales to 10% by FY28. This is being done in collaboration with one of the top global consultancy firms. The approach is to operate all levers, namely the market spread, new product introductions, merchandising, exports, and 4W products to achieve the target growth. โข The company is setting up AURIC Shendra project in Sambhajinagar, focused on machined castings for 4W and non-automotive and the SOP expected in mid 2025. Production has commenced for machined casting expansion in Waluj/Pantnagar for EV, petrol, โข It has increased Chakan alloy wheel capacity from 4.5 to 5.5 million wheels p.a and they plan to double the alloy wheel capacity by setting up AURIC Bidkin, a greenfield project for Alloy wheels. The SOP is expected in Q2FY26.
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Sobha Limited company details report
Sobha Limited founded by Mr. PNC Menon was incorporated on 7th August 1995 and headquartered in Bangalore. It is a leading real estate developer engaged in the business of construction, development, sale, management and operation of all or any part of townships, housing projects, commercial premises and other related activities. The company is also engaged in manufacturing activities related to interiors, glazing and metal works and concrete products which also provides backward integration to the turnkey projects. Real estate : Residential; Retail โ Its product mix includes multi storied apartments, row houses, villas, plotted developments & club house facilities etc. It has had a delivery run rate of 7 million sq ft in the past 3 years, 38.4 million sq ft is currently under development. As of 31st March 2024 they have completed construction of 136.25 million square feet of developable area across 27 cities in India including contractual projects and currently have 38.36 million square feet of developable area for projects which are under various stages of construction (including projects developed under the Sobha brand as well as contractual projects undertaken by them). Contracting : Institutional; Commercial โ Contractual focuses on developing offices, convention centres, software development blocks, multiplex theatres, hostel facilities, hotels, guest houses, food courts, restaurants, research centres, club houses, and factory buildings i.e., services from project conceptualization, planning, and design to engineering and execution for external clients. Among SOBHAโs corporate clients are Infosys, the Taj Group, Dell, HP, Timken, Biocon, Institute of Public Enterprises (IPE), Lulu, Manipal Group, UST Global, Brookfields, Prestige, the Azim Premji Foundation, and the International Foundation for Research and Education (Ashoka University). SOBHA has developed two commercial rent yielding assets. Company owns a total leasable area of 476,785 square feet across these 2 properties โ (1) Thrissur's most iconic landmark: the "SOBHA City Mall" and (2) in Bangalore โOne Sobha Mallโ.
Sobha Limited founded by Mr. PNC Menon was incorporated on 7th August 1995 and headquartered in Bangalore. It is a leading real estate developer engaged in the business of construction, development, sale, management and operation of all or any part of townships, housing projects, commercial premises and other related activities. The company is also engaged in manufacturing activities related to interiors, glazing and metal works and concrete products which also provides backward integration to the turnkey projects. Real estate : Residential; Retail โ Its product mix includes multi storied apartments, row houses, villas, plotted developments & club house facilities etc. It has had a delivery run rate of 7 million sq ft in the past 3 years, 38.4 million sq ft is currently under development. As of 31st March 2024 they have completed construction of 136.25 million square feet of developable area across 27 cities in India including contractual projects and currently have 38.36 million square feet of developable area for projects which are under various stages of construction (including projects developed under the Sobha brand as well as contractual projects undertaken by them). Contracting : Institutional; Commercial โ Contractual focuses on developing offices, convention centres, software development blocks, multiplex theatres, hostel facilities, hotels, guest houses, food courts, restaurants, research centres, club houses, and factory buildings i.e., services from project conceptualization, planning, and design to engineering and execution for external clients. Among SOBHAโs corporate clients are Infosys, the Taj Group, Dell, HP, Timken, Biocon, Institute of Public Enterprises (IPE), Lulu, Manipal Group, UST Global, Brookfields, Prestige, the Azim Premji Foundation, and the International Foundation for Research and Education (Ashoka University). SOBHA has developed two commercial rent yielding assets. Company owns a total leasable area of 476,785 square feet across these 2 properties โ (1) Thrissur's most iconic landmark: the "SOBHA City Mall" and (2) in Bangalore โOne Sobha Mallโ.
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Manufacturing : Glazing & Metal Works; Interiors; Concrete Products โ Glazing and Metal work manufactures predominantly unitized panels with a current capacity of approximately 360 sq. m. of panel per day, equivalent to 80 panels. Other than unitized, the factory can also make semi-unitized glazing, doors, windows, railings, and decorative fencing. Interiors business adopts products and services ranging from woodwork like furniture and doors to false ceilings, wall partitions, flooring and more. Concrete products are spread over approximately 8 acres, multiple shop floors cater to different products such as pavers, solid and hollow blocks and precast concrete. Retail: Restoplus Mattresses; metercube (furniture & furnishings) โ Mattresses division manufactures and markets the โRestoPlusโ brand that is available in over 27 varieties and is exported to several countries across the world. Spread over 5,000 sq. m., the mattress manufacturing facility incorporates some of the latest manufacturing processes with specialized equipment imported from European countries and America. Metercube - It offers customers a wide range of home furniture and furnishing products under this brand name. This is an omnichannel retailer with offline stores, interior packages (semi-finished with kitchens and wardrobes, fully furnished homes for living, bedrooms, and more with the METERCUBE range of products). It has 6 manufacturing units in Bengaluru, Karnataka; Alwar, Rajasthan; Kancheepuram, Tamil Nadu; and Sonipat, Haryana which cater to our internal construction material requirements as well as external customers.
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#SALES #GROWTH
During FY24, its pre-sales stood at โน6,644 cr (up 28% YoY), largely driven by a 19% improvement in realization to ~โน11,000/sqft and 8% increase in volumes. Kerala, GIFT City, and Bengaluru reported a strong growth in FY24, while the lack of significant inventory led to a decline in pre-sales at Gurugram. Contribution from Bengaluru sustained at over 65% in Q4 FY24. Revenue declined 37% YoY to โน3,097 cr (6% YoY) due to lower completion. The sales during FY24 was driven by 31% from projects between โน2 โน3 cr. In 9M FY25, the company sold area of ~3.5 million sq ft for an average realization of โน14,226 per sq ft i.e., sales value of โน4,441 cr down by 13.6% YoY with about 50% from Bangalore, 25% from Gurugram, about 16% from Kerala, and the remaining from other regions. Revenue reported during 9M was at โน2,334 cr. Net operating income from commercial portfolio in 9M FY25 was โน40.8 cr. The company sold 4.68 million sq ft in FY25 with a sales value of โน6,276 cr.
During FY24, its pre-sales stood at โน6,644 cr (up 28% YoY), largely driven by a 19% improvement in realization to ~โน11,000/sqft and 8% increase in volumes. Kerala, GIFT City, and Bengaluru reported a strong growth in FY24, while the lack of significant inventory led to a decline in pre-sales at Gurugram. Contribution from Bengaluru sustained at over 65% in Q4 FY24. Revenue declined 37% YoY to โน3,097 cr (6% YoY) due to lower completion. The sales during FY24 was driven by 31% from projects between โน2 โน3 cr. In 9M FY25, the company sold area of ~3.5 million sq ft for an average realization of โน14,226 per sq ft i.e., sales value of โน4,441 cr down by 13.6% YoY with about 50% from Bangalore, 25% from Gurugram, about 16% from Kerala, and the remaining from other regions. Revenue reported during 9M was at โน2,334 cr. Net operating income from commercial portfolio in 9M FY25 was โน40.8 cr. The company sold 4.68 million sq ft in FY25 with a sales value of โน6,276 cr.
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#EBITDA #GROWTH
The major cost constituents for the company are land purchase cost, cost of raw materials consumed , purchase of project materials, subcontractor and other charges. Other expenses comprises majorly of advertising and sales promotion. Advertising & sales promotion outflow was โน518 cr in FY24. In 9M FY25, the EBITDA stood at โน200 cr.
The major cost constituents for the company are land purchase cost, cost of raw materials consumed , purchase of project materials, subcontractor and other charges. Other expenses comprises majorly of advertising and sales promotion. Advertising & sales promotion outflow was โน518 cr in FY24. In 9M FY25, the EBITDA stood at โน200 cr.
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