Endurance Technologies announced that as per the directions of the Hon'ble High Court, the Company renegotiated on 23 January, 2019 the compensation to its eligible permanent workmen under the supervision of Assistant Labour Commissioner, Gurugram. This settlement with the workmen union was submitted to the Hon'ble High Court at the hearing on 11 February, 2019. In terms of this settlement, the workmen union and its members have, jointly and severally, completed the process of withdrawing all cases filed against the Company and its officials, as per the Order of Hon'ble High Court.

Consequent to this, the Company has paid the agreed compensation to eligible workmen who were on the rolls of the plant. This compensation aggregates to Rs. 16.96 crore over and above the amount of Rs. 3.83 crore paid as full and final settlement to workmen under the provision of Industrial Disputes Act, 1947.

The closure of the Company's manufacturing plant at Manesar is likely to yield long term benefits and will not result in any loss of revenue. The Company will continue to effectively cater to all its OEM customers in that region.

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Endurance Technologies will hold a meeting of the Board of Directors of the Company on 14 May 2019.

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Reliance Communications Ltd, GE T&D India Ltd, Max India Ltd and Indraprastha Gas Ltd are among the other losers in the BSE's 'A' group today, 06 March 2019.

Endurance Technologies Ltd crashed 8.82% to Rs 1152 at 14:49 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 69372 shares were traded on the counter so far as against the average daily volumes of 4343 shares in the past one month.

Reliance Communications Ltd lost 8.13% to Rs 6.1. The stock was the second biggest loser in 'A' group.On the BSE, 58.8 lakh shares were traded on the counter so far as against the average daily volumes of 139.78 lakh shares in the past one month.

GE T&D India Ltd tumbled 3.57% to Rs 296.15. The stock was the third biggest loser in 'A' group.On the BSE, 3674 shares were traded on the counter so far as against the average daily volumes of 2341 shares in the past one month.

Max India Ltd plummeted 3.35% to Rs 66.4. The stock was the fourth biggest loser in 'A' group.On the BSE, 68209 shares were traded on the counter so far as against the average daily volumes of 1.21 lakh shares in the past one month.

Indraprastha Gas Ltd pared 3.09% to Rs 290.25. The stock was the fifth biggest loser in 'A' group.On the BSE, 67803 shares were traded on the counter so far as against the average daily volumes of 2.07 lakh shares in the past one month.

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Net profit of Endurance Technologies rose 23.51% to Rs 96.56 crore in the quarter ended December 2018 as against Rs 78.18 crore during the previous quarter ended December 2017. Sales rose 17.84% to Rs 1812.98 crore in the quarter ended December 2018 as against Rs 1538.55 crore during the previous quarter ended December 2017.

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