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Endurance Technologies Q1 FY27 Call: ₹513 Cr 4W Order Book, ABS & Brake Capacity Ramp-Up
Endurance Technologies released its Q1 FY27 earnings call transcript detailing operational ramp-ups across 2W, 4W, and EV segments. The company has accumulated ₹513 crore in peak annual order bookings (~3.3% of TTM revenue) for 4W castings at its AURIC Shendra plant, with commercial SOP starting in September 2026. In braking systems, it is adding 9 lakh units p.a. of ABS capacity and expanding Chennai disc brake assemblies toward a total planned capacity of 9 million units p.a. by Q1 FY28. Management noted strong utilization in alloy wheels (targeting 100% of 4.8 million wheel sets by end-FY27) alongside the recent commencement of standalone EV battery pack SOP.
Confidence: HIGH
What changedEndurance filed the transcript of its Q1 FY27 earnings conference call held on August 14, 2026.
Why it mattersProvides granular operational clarity on capacity rollouts in ABS, disc brakes, EV battery packs, and non-2W casting orders driving medium-term revenue diversification.
4W casting peak annual order book: ₹513 crore4W Order Book vs TTM Revenue: ~3.3%ABS capacity addition: 9 lakh units p.a.Total planned disc brake assembly capacity (Q1 FY28): 9 million units p.a.Total alloy wheel capacity: 4.8 million sets p.a.
📅 Short termMultiple product and plant SOPs are scheduled across August-October 2026 (Royal Enfield brakes, Bajaj dual ABS, Tata Motors PV brakes), showing steady execution in upcoming quarters.
📈 Long termIncreasing 4W casting presence, ABS penetration, and proprietary EV components (BMS, battery packs) support structural content growth and reduce historical reliance on 2W ICE cycles.
⚠ Risk flags
- High client concentration (Bajaj Auto accounts for 50% of domestic sales)
- Macro headwinds and declining ICE vehicle production in European auto markets
- Timing uncertainty regarding final government regulatory rollout for lower-CC 2W ABS
Key Highlights
AURIC Shendra 4W casting order wins reached peak annual business potential of ₹513 crore, with SOP beginning September 2026.
ABS expansion of 9 lakh units p.a. is underway, with dual-channel ABS SOP for Bajaj Auto (1.2 lakh units p.a.) scheduled in Q2 FY27.
New Chennai brake plant adding 3 million disc brake assemblies and 4 million discs p.a.; SOP for Royal Enfield starts September 2026.
Alloy wheel capacity stands at 4.8 million sets p.a. (9.6 million wheels); Chakan is at 100% and Bidkin (60%) is targeted to hit full utilization by Q4 FY27.
👀 What to Watch
Track commercial ramp-up milestones for the Chennai brake facility, AURIC Shendra 4W casting execution, and regulatory finalization of the government 2W ABS guidelines.
Rs 4,348 Cr Q1 Revenue: Endurance Reports 29.6% Growth and Rs 405 Cr New India Order Wins
Endurance Technologies reported a strong 29.6% YoY growth in consolidated total income to Rs 4,348 Cr for Q1FY27, significantly outperforming the Indian 2W industry growth of 23.6%. While EBITDA grew 18.7% to Rs 569 Cr, PAT growth was more modest at 8.0% (Rs 245 Cr) due to higher input costs in India and accelerated depreciation in Europe. The company secured new business worth Rs 405 Cr in India and €13.9M in Europe during the quarter. Key upcoming milestones include the start of production (SOP) for dual-channel ABS and new disc brake capacities in Q2FY27.
Confidence: HIGH
What changedThe company reported its Q1FY27 financial performance, showing significant revenue outperformance relative to the industry and providing updates on its aggressive expansion into EV components and 4W castings.
Why it mattersEndurance is successfully diversifying away from its high dependence on Bajaj Auto and ICE engines, with 47% of recent European orders being EV-related and a growing footprint in the 4W segment.
Q1 Revenue Growth (YoY): 29.6%Q1 India Order Wins: Rs 405 CrQ1 Europe Order Wins: €13.9 millionEV Order Book (India): Rs 1,806 CrFY27 Standalone Capex: Rs 196 CrQ1 Wins vs TTM Revenue: ~3.6%
📅 Short termPositive sentiment is expected due to strong top-line growth and robust order wins, though margin compression in the standalone business (EBITDA margin fell from 13.0% to 11.2%) may temper the reaction.
📈 Long termStructural shift towards EV components (BMS, Battery Packs) and 4W segments (via AURIC Shendra and Stöferle) reduces concentration risk and aligns with global automotive trends.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Higher input costs impacting standalone margins
- Accelerated depreciation in Europe due to OEM program phase-outs
- High concentration in the 2W segment (68.4% of standalone revenue)
Key Highlights
Consolidated Total Income reached Rs 4,348 Cr, a 29.6% YoY increase from Rs 3,355 Cr in Q1FY26.
Secured new business worth Rs 405 Cr in India (excluding Bajaj Auto) and €13.9M in Europe during Q1FY27.
EV-specific order book (non-Bajaj) stands at Rs 1,496 Cr, including a large Rs 300 Cr battery pack order.
Planned FY27 standalone capex of Rs 196 Cr, focusing on ABS, disc brakes, and battery pack expansions.
Increased stake in German entity Stöferle to 68% with a €6.24M investment in Q1FY27.
👀 What to Watch
Monitor the SOP (Start of Production) timelines for the dual-channel ABS and Chennai disc brake capacity in Q2FY27, as these are critical for margin recovery. Watch for the impact of input cost pass-throughs on standalone margins in the coming quarters.
29.6% Revenue Growth for Endurance in Q1FY27; EBITDA Margins Contract to 13.1%
Endurance Technologies reported a strong 29.6% YoY increase in consolidated total income to ₹4,348 Cr for Q1FY27, driven by a 35.9% surge in standalone India operations. However, consolidated PAT growth was limited to 8.0% (₹245 Cr) as EBITDA margins contracted by 120 bps to 13.1% due to rising commodity and energy costs. The Indian business significantly outperformed the domestic 2W market growth of 23.6%, while European operations saw a muted 1% revenue growth in Euro terms. The company continues to face margin pressure despite passing through major cost elements to OEMs.
Confidence: HIGH
What changedEndurance reported its Q1FY27 financial results, showing robust top-line growth in India but a decline in percentage margins due to input cost inflation.
Why it mattersThe results highlight Endurance's ability to outpace industry volume growth in India, though the lag in passing through raw material costs is currently weighing on profitability and PAT growth.
Consolidated Total Income: ₹4,348 CrYoY Revenue Growth: 29.6%Consolidated EBITDA Margin: 13.1%Consolidated PAT: ₹245 CrIndia Revenue Share: 73.7%EPS (Q1): ₹17.38
📅 Short termThe stock may face pressure due to the margin contraction (13.1% vs 14.3% YoY), despite the strong revenue beat.
📈 Long termStructural growth remains supported by the 2W ABS mandate, expansion into 4W suspensions, and the integration of the Stoferle acquisition.
⚠ Risk flags
- Raw material and energy price volatility
- Margin compression due to cost pass-through lags
- High client concentration with Bajaj Auto (38% of consolidated revenue)
- Competition from Chinese OEMs in the European market
Key Highlights
Consolidated Total Income rose 29.6% YoY to ₹4,348 Cr from ₹3,355 Cr.
Standalone (India) revenue grew 35.9% YoY to ₹3,194 Cr, outperforming the 23.6% growth in the domestic 2W market.
Consolidated EBITDA margins contracted to 13.1% from 14.3% in the previous year's quarter.
Consolidated PAT increased by 8.0% to ₹245 Cr, with EPS rising to ₹17.38 from ₹16.09.
India operations, including Maxwell, contributed 73.7% of the total consolidated income.
👀 What to Watch
Monitor the company's ability to restore EBITDA margins toward the TTM average of 13.5% through cost pass-throughs. Watch for execution in the 4W suspension segment and market share gains in the mandated 2W ABS market.
30% Revenue Growth in Q1 FY27; Consolidated PAT at ₹244.5 Cr
Endurance Technologies reported a strong 30% YoY growth in consolidated revenue to ₹4,314.89 cr for Q1 FY27, significantly outperforming its TTM quarterly average. Standalone revenue (India) grew even faster at 36.3% YoY to ₹3,182.71 cr. However, consolidated PAT growth was more modest at 8% YoY (₹244.52 cr) due to a 35% surge in raw material costs and higher depreciation. The company also increased its stake in German subsidiary Stoferle to 68% for €6.24 million.
Confidence: HIGH
What changedThe company reported its Q1 FY27 results, showing a significant top-line acceleration compared to FY26, alongside a minor stake increase in its German subsidiary.
Why it mattersThe strong standalone performance indicates robust demand in the Indian 2W/4W market, while the Stoferle acquisition continues to expand the company's European footprint in machined aluminum die casting.
Consolidated Revenue (Q1): ₹4,314.89 crQ1 Revenue vs TTM Revenue: ~29.5%Consolidated PAT (Q1): ₹244.52 crCost of Materials Consumed (Consolidated): ₹2,636.27 crStoferle Stake Increase: 8%
📅 Short termThe market is likely to view the 30% revenue growth positively, though the margin compression (PAT growth of only 8%) may lead to some caution regarding cost pass-through efficiency.
📈 Long termThe company's pivot toward 4W components and ABS systems, combined with its European expansion, supports a structural growth story despite cyclical auto industry risks.
⚠ Risk flags
- Raw material cost volatility (up 35% YoY)
- High client concentration (Bajaj Auto)
- Rising depreciation costs impacting net margins
Key Highlights
Consolidated revenue from operations increased 30% YoY to ₹4,314.89 cr
Standalone revenue (primarily India) grew 36.3% YoY to ₹3,182.71 cr
Consolidated PAT rose 8% YoY to ₹244.52 cr, with EPS at ₹17.38
Acquired additional 8% stake in Stoferle GmbH for €6.24 million on June 29, 2026
Consolidated depreciation and amortisation expense rose 35% YoY to ₹221.93 cr
👀 What to Watch
Monitor the EBITDA margin trajectory in upcoming quarters as raw material costs and depreciation are currently growing faster than the bottom line. Watch for the operational integration of Stoferle and its impact on European margins.
₹11.50 Dividend Proposed: Endurance Technologies Schedules 27th AGM for August 13, 2026
Endurance Technologies has issued a notice for its 27th Annual General Meeting (AGM) to be held on August 13, 2026. The primary agenda includes the declaration of a final dividend of ₹11.50 per equity share (115% of face value) for FY 2025-26. The total dividend payout is approximately ₹161.76 Cr, which represents about 17% of the TTM PAT of ₹951 Cr. The record date for dividend eligibility is fixed as July 31, 2026.
Confidence: HIGH
What changedThe company has formalized the schedule for its 27th AGM and confirmed the record date for the previously recommended dividend.
Why it mattersThis is a routine but necessary administrative event that confirms the cash return to shareholders and provides the comprehensive FY26 performance review via the Annual Report.
Dividend per share: ₹11.50Record Date: July 31, 2026Total Dividend Payout: ₹161.76 CrDividend vs TTM PAT: ~17%Cost Auditor Remuneration: ₹5,50,000
📅 Short termThe stock may see minor activity around the record date (July 31) as it goes ex-dividend; otherwise, the impact is procedural.
📈 Long termLimited structural significance as this is a routine annual filing; long-term value depends on 2W ABS market share and 4W segment expansion.
⚠ Risk flags
- High client concentration with Bajaj Auto (38% of consolidated revenue)
- Susceptibility to aluminum price volatility
Key Highlights
Proposed final dividend of ₹11.50 per equity share of face value ₹10 (115%)
Record date for dividend eligibility set for July 31, 2026
AGM scheduled for August 13, 2026, at 4:00 PM IST in Aurangabad
Total number of equity shares eligible for dividend stands at 14,06,62,848
Ratification of cost auditor remuneration at ₹5,50,000 for FY 2026-27
👀 What to Watch
Investors should note the record date of July 31, 2026, to be eligible for the ₹11.50 dividend. Review the full Annual Report for updates on the Stoferle integration and progress in the 4W suspension segment.
8% Additional Stake Acquired in Stöferle by Endurance; Total Holding Rises to 68%
Endurance Technologies, through its Italian subsidiary EOSpA, has increased its stake in German entities Stöferle GmbH and Stöferle Automotive GmbH by 8%. This follow-on acquisition increases the total shareholding from 60% to 68%, as per the Share Purchase Agreement signed in December 2024. The initial 60% stake was acquired in April 2025, and this latest transfer was executed on June 29, 2026. This move further consolidates Endurance's presence in the European machined aluminum die casting market for the 4-wheeler segment.
Confidence: HIGH
What changedEndurance increased its ownership in its German subsidiaries from 60% to 68% through its Italian arm.
Why it mattersThis consolidation strengthens Endurance's control over its European operations and supports its strategy to diversify into the 4-wheeler segment and reduce client concentration risks.
Additional stake acquired: 8%Total stake post-acquisition: 68%Previous stake: 60%TTM Revenue: ₹ 14,596 cr
📅 Short termNeutral to slightly positive; the market likely anticipated this as it was part of a pre-existing 2024 agreement.
📈 Long termStrategic consolidation that helps the company expand its European footprint and technological capabilities in aluminum die casting.
⚠ Risk flags
- Integration risks of foreign subsidiaries
- Cyclicality in the European automotive market
Key Highlights
Acquisition of an additional 8% stake in Stöferle GmbH and Stöferle Automotive GmbH.
Total shareholding in the target companies increased from 60% to 68%.
Transfer agreement executed on June 29, 2026, following the December 2024 SPA.
Initial 60% stake in the German entities was acquired in April 2025.
👀 What to Watch
Monitor the integration of Stöferle's machined aluminum die casting capabilities and its impact on European margins in the upcoming quarterly results.
Endurance Technologies to Sell Italian Subsidiary Veicoli Srl for up to €7.5 Million
Endurance Technologies' Italian subsidiary, Endurance Overseas SpA, has entered into an agreement to sell 100% of its stake in Veicoli Srl to Banyan Software UK Limited. Veicoli Srl is a non-core software business focused on fleet management, contributing just 0.22% to the company's consolidated revenue in FY26. The deal structure includes an upfront payment of €2.2 million and a performance-linked earn-out of up to €5.0 million over three years. This divestment is part of the group's strategy to refocus resources on its core automotive components business.
Key Highlights
Sale of 100% stake in Veicoli Srl for a total potential consideration of €7.5 million.
Veicoli Srl contributed Rs. 32.58 crore to revenue and Rs. 3.15 crore to net worth in FY26.
Financial impact is minimal, representing only 0.22% of consolidated total income.
Consideration includes €2.2 million upfront, €0.3 million deferred, and up to €5.0 million in earn-outs.
Transaction is expected to be completed by July 1, 2026.
👀 What to Watch
Investors should view this as a positive strategic streamlining of non-core assets. Given the negligible revenue contribution of the subsidiary, the impact on the stock price is expected to be neutral.
Endurance Tech to Invest ₹62 Cr for 4-Wheeler Li-Ion Battery Pack Capacity Expansion
Endurance Technologies is expanding its existing facility in Mindewadi, Pune, to manufacture Lithium-Ion battery packs for the four-wheeler segment. The company plans to add a capacity of 3,640 battery packs per month, which will complement its current capacity of 26,000 packs per month for two-wheelers. The project requires an investment of approximately ₹62 crore, funded entirely through internal accruals, and is expected to be completed by Q3 of the current financial year. This move signifies a strategic push into the 4W EV market, supported by advanced discussions with a major OEM.
Key Highlights
Proposed capacity addition of 3,640 battery packs per month for the four-wheeler segment.
Total investment of ~₹62 crore (net of GST) to be financed through internal accruals.
Capacity expansion expected to be completed and operational within Q3 of the current financial year.
Company is in advanced stages of discussion with a four-wheeler EV OEM for supply contracts.
Existing two-wheeler battery capacity of 26,000 units/month is targeting 70% utilization by October 2026.
👀 What to Watch
Investors should view this as a positive diversification into the high-growth 4W EV component space; watch for formal contract announcements with OEMs as a key re-rating trigger.
Endurance Tech Starts Li-Ion Battery Pack Production at Pune; Initial Capacity 26,000/Month
Endurance Technologies has officially commenced commercial production of Lithium Ion Battery packs at its new greenfield facility in Mindewadi, Pune, effective June 17, 2026. The plant begins with an initial capacity of 26,000 packs per month, which is expandable to 35,000 units based on future OEM orders. This expansion involved a capex of approximately Rs. 473 million, funded through internal accruals. The move strategically aligns with its subsidiary Maxwell Energy Systems to offer integrated battery solutions for the EV and energy storage sectors.
Key Highlights
Commenced commercial production of Lithium Ion Battery packs at Mindewadi, Pune on June 17, 2026.
Initial installed capacity of ~26,000 packs per month, with scalability up to ~35,000 packs.
Total capital expenditure of ~Rs. 473 million funded entirely through internal accruals.
Strategic entry into the EV value chain, complementing the BMS offerings of subsidiary Maxwell Energy Systems.
Facility designed to cater to both domestic mobility applications and battery energy storage systems.
👀 What to Watch
Investors should monitor the ramp-up in capacity utilization and new order wins from EV OEMs, as this diversification into battery packs significantly enhances the company's growth profile in the green mobility segment.
Endurance Technologies: Chairman Soumendra Basu and Director Anjali Seth Step Down
Mr. Soumendra Basu, the Chairman and Independent Director, along with Ms. Anjali Seth, Independent Director, have completed their second consecutive five-year terms on June 9, 2026. Consequently, both directors have ceased to be part of the Board effective from the close of business hours on the same day. This transition follows standard regulatory requirements regarding the maximum tenure of Independent Directors in India. The company has formally acknowledged their decade-long contribution to governance and strategic oversight.
Key Highlights
Mr. Soumendra Basu (Chairman) completed his second 5-year term as Independent Director on June 9, 2026.
Ms. Anjali Seth (Independent Director) completed her second 5-year term on June 9, 2026.
Both directors ceased to hold their positions effective from the close of business hours on June 9, 2026.
The departures are a result of statutory tenure limits for Independent Directors under SEBI regulations.
The company is expected to announce a new Chairman and board appointments to fill the vacancies.
👀 What to Watch
Investors should monitor upcoming announcements regarding the appointment of a new Chairman and Independent Directors to ensure continuity in corporate governance and strategic direction.
Endurance Q4 FY26: Maxwell Revenue Jumps 131% to ₹162 Cr; Aggressive ABS & EV Expansion
Endurance Technologies reported a strong Q4 FY26, benefiting from a 25.4% YoY growth in the domestic 2W market. The company is aggressively expanding its ABS capacity by 12 lakh units and increasing inverted front fork production to 100,000 units per month by FY27. Subsidiary Maxwell's revenue surged to ₹162 crores in FY26 from ₹70 crores in FY25, driven by high demand for EV components like BMS. With a ₹513 crore peak annual business potential from the AURIC plant and new orders from JLR and US EV OEMs, the growth outlook remains robust.
Key Highlights
ABS capacity expansion of 12 lakh units per annum with dual-channel SOP for Bajaj starting June 2026.
Maxwell revenue grew 131% YoY to ₹162 crores in FY26, with a total cumulative order book of ₹247 crores.
Inverted front fork sales target increased from 60,000 to 100,000 units per month by the end of FY27.
AURIC Shendra plant secured cumulative orders with a peak annual potential of ₹513 crores from global OEMs.
Alloy wheel capacity reached 48 lakh sets per annum, adding new customers including Honda, Suzuki, and Ather.
👀 What to Watch
Investors should remain positive on the stock given the successful diversification into high-margin EV components and premium suspension systems. Monitor the execution and ramp-up of the new Chennai and AURIC facilities for margin expansion.
Endurance Technologies Q4FY26 Consolidated Revenue Jumps 37.3% YoY to ₹4,116 Crore
Endurance Technologies delivered a robust Q4FY26 with consolidated total income rising 37.3% YoY to ₹4,116 crore and PAT increasing 12.8% to ₹276 crore. For the full year FY26, the company achieved a total income of ₹14,720 crore, marking a 26.1% growth over the previous year. The company secured significant new business wins totaling ₹1,596 crore in India and €16 million in Europe, with a strong focus on EV and hybrid applications. Despite a slight dip in consolidated EBITDA margins to 14.5%, the company is aggressively expanding with a standalone capex of ₹828 crore and multiple new product SOPs scheduled for FY27.
Key Highlights
Consolidated FY26 Total Income grew 26.1% YoY to ₹14,720 crore, while PAT rose 13.8% to ₹952 crore.
Q4FY26 European business revenue surged 56.3% in INR terms, significantly outperforming the 4% EU car registration growth.
New business wins in FY26 reached ₹1,596 crore in India (excluding Bajaj Auto), including ₹300 crore for battery packs.
EV and Hybrid applications now account for 84% of the cumulative orders won in Europe over the last 5 years.
Major expansion underway with SOPs for Dual Channel ABS, Solar Dampers, and Lithium-ion Battery Packs expected in Q1FY27.
👀 What to Watch
The company's strong order book and strategic shift towards EV components and electronics provide a positive long-term outlook. Investors should monitor the successful ramp-up of new capacities in FY27 and the impact of raw material price pass-throughs on margins.
Endurance Tech FY26 PAT Up 13.8% to ₹952 Cr; Dividend of ₹11.50 Declared
Endurance Technologies reported a robust FY26 with consolidated total income rising 26.1% to ₹14,720 crore. The company's Indian operations grew by 20%, significantly outperforming the domestic two-wheeler industry's 13% volume growth. European operations saw a 29% revenue jump, largely driven by the Stoferle acquisition, despite global supply chain and geopolitical headwinds. The Board has recommended a dividend of ₹11.50 per share, reflecting a steady payout alongside growth.
Key Highlights
Consolidated Total Income for FY26 increased 26.1% YoY to ₹14,720 crore.
Full-year Consolidated PAT grew 13.8% to ₹952 crore with an EPS of ₹67.66.
Indian standalone operations outperformed the 2W industry with 20% growth vs 13% industry volume growth.
European revenue grew 29% YoY, primarily aided by the consolidation of the Stoferle acquisition.
Board recommended a dividend of ₹11.50 per equity share of face value ₹10.
👀 What to Watch
Investors should take note of the company's consistent ability to outperform the domestic 2W industry and its successful inorganic growth in Europe. The stock remains a strong long-term play in the auto-component space given its diversified product mix and expanding global footprint.
Endurance Tech FY26 Consolidated Revenue Up 26% to ₹14,596 Cr; ₹11.50 Dividend Declared
Endurance Technologies reported a robust 26.2% year-on-year growth in consolidated revenue, reaching ₹14,595.88 crore for the full year ended March 31, 2026. Standalone profit after tax increased to ₹733.83 crore from ₹678.66 crore in the previous fiscal year. The Board has recommended a final dividend of ₹11.50 per share (115%) and fixed July 31, 2026, as the record date. Additionally, the company announced that Mr. Indrajit Banerjee will take over as Chairman of the Board effective June 10, 2026.
Key Highlights
Consolidated revenue from operations grew 26.2% YoY to ₹14,595.88 crore in FY26.
Recommended a dividend of ₹11.50 per equity share (115% of face value) for FY25-26.
Standalone PAT for FY26 stood at ₹733.83 crore, up from ₹678.66 crore in FY25.
Record date for dividend entitlement is July 31, 2026, with payment on or before September 12, 2026.
Exceptional item of ₹20.64 crore recognized due to additional expenses related to new Labour Codes.
👀 What to Watch
Investors should maintain a positive outlook given the strong top-line growth and consistent dividend payout. The record date of July 31 is the key timeline for dividend eligibility.
Endurance Tech Q4 FY26: Consolidated Revenue Jumps 38%, Dividend of ₹11.50 Declared
Endurance Technologies reported a robust performance for Q4 FY26, with consolidated revenue from operations growing 37.8% YoY to ₹4,085.95 crore. Standalone profit for the quarter rose 20.5% YoY to ₹209.75 crore, even after accounting for a ₹20.64 crore exceptional charge related to new Labour Codes. The Board has recommended a dividend of ₹11.50 per share (115%) for FY26. Additionally, a leadership transition was announced with Mr. Indrajit Banerjee set to become Chairman effective June 10, 2026.
Key Highlights
Consolidated revenue for FY26 reached ₹14,595.88 crore, a significant increase from ₹11,560.81 crore in FY25.
Standalone Q4 PAT grew to ₹209.75 crore compared to ₹174.08 crore in the same quarter last year.
Recommended a final dividend of ₹11.50 per equity share of face value ₹10 each.
Mr. Indrajit Banerjee appointed as Chairman of the Board, succeeding Mr. Soumendra Basu from June 2026.
Recognized an exceptional expense of ₹20.64 crore towards gratuity and leave encashment due to new Labour Codes.
👀 What to Watch
Investors should view the strong top-line growth and steady dividend payout as positive indicators of the company's market position. The leadership transition appears planned and stable, but monitor any shifts in strategic direction under the new Chairman.
Endurance Tech Recommends ₹11.50 Dividend; FY26 Consolidated Revenue Jumps 26% YoY
Endurance Technologies reported a robust performance for FY26, with consolidated revenue growing 26.2% to ₹14,595.88 crore compared to the previous year. The Board has recommended a final dividend of ₹11.50 per share (115% of face value), with July 31, 2026, set as the record date. Standalone net profit for the full year rose to ₹733.83 crore from ₹678.66 crore, despite an exceptional hit of ₹20.64 crore related to new labor code provisions. Additionally, the company announced a leadership transition with Mr. Indrajit Banerjee appointed as the new Chairman effective June 10, 2026.
Key Highlights
Recommended a final dividend of ₹11.50 per equity share for the financial year 2025-26.
Consolidated annual revenue from operations increased to ₹14,595.88 crore from ₹11,560.81 crore in FY25.
Standalone Q4 revenue grew 31.5% YoY to ₹2,958.02 crore.
Standalone annual profit after tax (PAT) grew 8.1% to ₹733.83 crore.
Recognized an exceptional expense of ₹20.64 crore due to the notification of new Labour Codes.
👀 What to Watch
The strong double-digit revenue growth and consistent dividend payout reflect healthy demand in the automotive component sector. Investors should maintain a positive outlook while monitoring the impact of rising material costs and labor code adjustments on future margins.
Endurance Tech FY26 Consolidated Revenue Up 26% to ₹14,596 Cr; Declares ₹11.50 Dividend
Endurance Technologies reported a robust performance for FY26, with consolidated revenue growing 26.2% YoY to ₹14,595.88 crore. Standalone net profit for the full year increased to ₹733.83 crore from ₹678.66 crore, despite an exceptional hit of ₹20.64 crore due to new Labour Code provisions. The company has recommended a dividend of ₹11.50 per share (115%) and announced that Mr. Indrajit Banerjee will take over as Chairman effective June 10, 2026.
Key Highlights
Consolidated Revenue for FY26 rose 26.2% to ₹14,595.88 crore vs ₹11,560.81 crore in FY25.
Standalone Q4 PAT grew 20.5% YoY to ₹209.75 crore compared to ₹174.08 crore in Q4FY25.
Board recommended a dividend of ₹11.50 per equity share of face value ₹10.
Exceptional expense of ₹20.64 crore recognized for gratuity and leave encashment following Labour Code notifications.
Standalone revenue for the full year crossed the ₹10,000 crore milestone to reach ₹10,640.18 crore.
👀 What to Watch
The strong revenue growth and healthy dividend payout signal positive momentum; investors should maintain a positive outlook while monitoring the transition to the new Chairman.
Endurance Tech Re-appoints Anant Talaulicar as Director; Ashish Nainawatee Named SMP
Endurance Technologies has announced key leadership updates following its board meeting on April 16, 2026. Mr. Anant Talaulicar, who brings nearly 40 years of experience from the Cummins Group, has been re-appointed as an Independent Director for a second five-year term starting July 12, 2026. Additionally, Chief Strategy Officer Mr. Ashish Nainawatee, who has 27 years of experience including a long tenure at Bosch, has been elevated to Senior Management Personnel. These moves signify a focus on maintaining high-caliber leadership and strategic continuity within the auto-component major.
Key Highlights
Mr. Anant Talaulicar re-appointed as Independent Director for a second 5-year term effective July 12, 2026.
Mr. Ashish Nainawatee, with 26 years of experience at Bosch, designated as Senior Management Personnel.
The board meeting concluded after approximately 8 hours of deliberation (11:15 AM to 7:12 PM).
Shareholder approval for the director re-appointment will be sought via postal ballot with a cut-off date of April 24, 2026.
👀 What to Watch
The retention of experienced leadership is a positive sign for corporate governance and strategic execution. Investors should maintain their positions as these appointments suggest stability in the company's long-term growth roadmap.
Endurance Technologies Re-appoints Anant Talaulicar as Director and Names New SMP
Endurance Technologies has approved the re-appointment of Mr. Anant Talaulicar as an Independent Director for a second five-year term effective July 12, 2026. Additionally, the company has designated Mr. Ashish Nainawatee, the current Chief Strategy Officer, as a Senior Management Personnel (SMP) effective immediately. Mr. Talaulicar brings nearly 40 years of experience from the Cummins Group, while Mr. Nainawatee has 27 years of experience, including 26 years at Bosch. These appointments strengthen the leadership team with deep industry expertise in the automotive sector.
Key Highlights
Re-appointment of Mr. Anant Talaulicar for a second term of 5 consecutive years starting July 12, 2026.
Appointment of Chief Strategy Officer Mr. Ashish Nainawatee as Senior Management Personnel with immediate effect.
Mr. Talaulicar has approximately 40 years of experience, including leadership roles at Cummins Group and Tata Cummins.
Mr. Nainawatee brings 27 years of experience, having spent 26 years at Bosch before joining Endurance in April 2025.
The board meeting for these approvals lasted approximately 8 hours, concluding at 7:12 p.m. on April 16, 2026.
👀 What to Watch
Investors should view these appointments as a positive sign of leadership stability and strategic focus. No immediate action is required as these are routine but high-quality management reinforcements.
Endurance Tech Q3 FY26: Strong 2W Growth and ₹388 Cr New Casting Orders
Endurance Technologies reported a robust Q3 FY26, benefiting from an 18.2% year-on-year growth in the domestic two-wheeler market and GST rate rationalization. The company is executing a massive expansion with four greenfield plants nearing completion, including the AURIC Shendra facility which has secured peak annual orders of ₹388 crore. Subsidiary Maxwell showed exceptional performance with 9M FY26 revenue of ₹114 crore, already surpassing the full FY25 turnover of ₹70 crore. Management expects the full impact of these expansions and new order wins to materialize in the second half of FY27.
Key Highlights
Two-wheeler sales rose 18.2% and passenger vehicles 19.2% in Q3 FY26, supported by a 125 bps repo rate cut in 2025.
Maxwell subsidiary achieved ₹114 crore revenue in 9M FY26 with a cumulative order book of ₹232 crore per annum.
The new AURIC Shendra plant has secured orders worth ₹388 crore annually from marquee global and domestic OEMs.
Alloy wheel capacity at the AURIC Bidkin plant is 100% booked, with new supplies to Royal Enfield and Suzuki starting in FY27.
Inverted front fork sales are expected to exceed 650,000 units in FY26, driven by the premiumization trend in motorcycles.
👀 What to Watch
Investors should maintain a positive outlook as the company transitions from a heavy CAPEX phase to operationalizing four new plants by H2 FY27. The strong order book in the EV segment via Maxwell and high-end castings provides a solid margin expansion narrative.
