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ENDURANCE - Endurance Tech.

📊 NSE: ENDURANCE 🏢 Auto Ancillaries 📅 Last Updated: 12/13/2025 21:52

📢 Recent Corporate Announcements

Endurance Tech Q3 FY26: Strong 2W Growth and ₹388 Cr New Casting Orders

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 19 Feb 2026, 05:48 PM

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.

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.

💡 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.

Endurance Technologies Schedules Institutional Investor Meeting for February 20, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 17 Feb 2026, 06:16 PM

Endurance Technologies Limited has scheduled a group meeting with institutional investors on February 20, 2026, from 12:00 PM to 2:00 PM. The meeting is organized by Investec Capital Services and will take place at the company's manufacturing facilities in Chh. Sambhajinagar (Aurangabad). Senior management will be present to interact with investors, and the company has referenced a corporate presentation for the discussion. This interaction is part of routine investor relations and transparency efforts.

Meeting scheduled for February 20, 2026, between 12:00 PM and 2:00 PM
Venue is the company's manufacturing facilities in Chh. Sambhajinagar (Aurangabad)
Organized by Investec Capital Services (India) Private Limited
Senior management representatives will lead the discussion with institutional investors

💡 This is a routine regulatory disclosure; investors should watch for any post-meeting transcripts or presentation updates that might provide insights into production capacity or future growth outlook.

Endurance Technologies Releases Audio Recording of Feb 13 Analyst Conference Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Feb 2026, 06:13 PM

Endurance Technologies has officially released the audio recording of its conference call with analysts and institutional investors held on February 13, 2026. This disclosure is a standard regulatory requirement under SEBI Listing Obligations and Disclosure Requirements. The recording allows stakeholders to hear management's detailed commentary on recent business performance and future outlook. Access to such recordings is vital for investors to understand the nuances of the company's strategic direction beyond the published financial results.

Conference call for analysts and institutional investors was successfully conducted on February 13, 2026.
The audio recording has been made available on the company's official website as per SEBI regulations.
The filing follows the initial conference call intimation previously submitted on February 3, 2026.
Compliance maintained under Regulation 30 and 46(2)(oa) of the SEBI (LODR) Regulations, 2015.

💡 Investors should listen to the recording to understand management's guidance on the automotive sector's recovery and margin trends. No immediate action is required as this is a routine procedural disclosure.

Endurance Technologies Amends Code for Fair Disclosure of Price Sensitive Information

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 12 Feb 2026, 08:24 PM

Endurance Technologies has updated its 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' (UPSI) as of February 12, 2026. The revised policy aligns with SEBI's Insider Trading Regulations, providing a comprehensive list of 17 categories that constitute UPSI, including financial results, M&A, and fund raising. It designates the CFO or Compliance Officer as the Chief Investor Relations Officer to manage uniform information dissemination. The code also clarifies 'Legitimate Purposes' for sharing sensitive data with third parties like auditors and lenders to prevent market abuse.

Board approved Version 7 of the Fair Disclosure Code on February 12, 2026, to ensure compliance with SEBI PIT Regulations.
Identifies 17 specific events as UPSI, including dividend declarations, change in capital structure, and resignation of auditors.
Mandates that all analyst call transcripts and audio/video recordings be uploaded to the company website simultaneously with stock exchange filings.
Establishes a framework for responding to market rumors in mainstream media in consultation with the Managing Director.
Defines 'Legitimate Purpose' for sharing UPSI with partners and advisors to ensure it is not used to circumvent insider trading laws.

💡 This is a routine regulatory update aimed at improving corporate governance and transparency. No immediate action is required from investors as it does not impact the company's financial fundamentals.

Endurance Tech Q3FY26 Net Profit Rises 20.2% to ₹222 Cr; Total Income Up 26.5% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 08:13 PM

Endurance Technologies reported a robust Q3FY26 with consolidated total income growing 26.5% YoY to ₹3,646 crore, significantly outperforming the Indian 2W industry growth of 18.2%. Consolidated EBITDA rose 30.4% to ₹514 crore, supported by a 39.5% revenue jump in the European business following the Stöferle acquisition. The company is aggressively pivoting towards EVs, securing a major ₹300 crore peak annual order for battery packs and reporting that 24% of new order wins in 9MFY26 were for EV applications.

Consolidated PAT increased 20.2% YoY to ₹222 crore, while EBITDA margins improved to 14.1%.
New business wins in India reached ₹1,283 crore in FY26 (excluding Bajaj Auto), including ₹300 crore for battery packs.
European revenue grew 21% in Euro terms, outperforming the EU new car registration growth of 4.6%.
Cumulative EV orders in India (excluding Bajaj and Battery-Packs) stand at ₹1,242 crore.
Capital expenditure for 9MFY26 stood at ₹657 crore in India and €37.9 million in Europe for capacity expansion.

💡 Endurance continues to demonstrate strong execution by outperforming the underlying industry and successfully integrating acquisitions like Stöferle. Investors should remain positive given the company's diversifying order book into 4W, electronics, and EV components, which provides a long-term growth runway.

Endurance Technologies Q3 Net Profit Rises 20.2% to ₹222 Cr; Revenue Up 26.5%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 08:07 PM

Endurance Technologies reported a strong Q3 FY26 with consolidated total income rising 26.5% YoY to ₹3,646 crore, outperforming the underlying Indian OEM market growth. Consolidated PAT grew 20.2% to ₹222 crore, even after accounting for a ₹21 crore exceptional charge related to new labour codes. EBITDA margins improved to 14.1% from 13.7% a year ago, driven by premiumization in the two-wheeler segment and the Stoferle acquisition in Europe. The company is aggressively expanding capacity with multiple new facilities expected to reach full utilization or start production by FY27.

Consolidated Total Income grew 26.5% YoY to ₹3,646 crore in Q3 FY26.
EBITDA margins expanded to 14.1% from 13.7% YoY, with EBITDA rising 30.4% to ₹514 crore.
European operations significantly outperformed the market with 21% revenue growth in Euro terms.
A one-time exceptional item of ₹21 crore was recorded due to provisions for new Labour Codes.
Aggressive expansion plans announced for FY27 across Bidkin, Pune, Chennai, and Sanand facilities.

💡 The company's ability to outpace market growth and expand margins through premium products like ABS and disc brakes makes it a strong auto-ancillary play. Investors should hold for long-term gains as new capacity expansions in FY27 are expected to drive the next leg of growth.

Endurance Promoters Sign Inter Se Agreement to Ensure 51% Minimum Holding Post-Succession

🟢 POSITIVE ⭐ 7/10

OTHER 📅 11 Feb 2026, 01:05 PM

The promoter group of Endurance Technologies, led by MD Anurang Jain, has entered into an Inter Se Shareholders’ Agreement to formalize succession and ownership stability. The agreement mandates that the promoter group must collectively maintain at least a 51% stake in the company following the demise of the current MD. It restricts share transfers to third parties except under specific conditions like emergencies or new business ventures. This move is designed to prevent future disputes and ensure long-term continuity in the company's leadership and control.

Agreement signed on February 11, 2026, between Jain family members and three family trusts.
Mandatory minimum collective shareholding of 51% required after the demise of MD Anurang Jain.
Strict restrictions on share transfers to third parties, permitted only for emergencies or new business ventures.
Anurang Jain retains sole authority to amend or terminate the agreement during his lifetime.
The agreement aims to ensure continuity and stability in ownership without changing current management or Board structure.

💡 Investors should view this as a positive sign of long-term governance and succession planning, which reduces the risk of future promoter disputes. No immediate action is required as the company's operational management remains unchanged.

Endurance Technologies Schedules Q3FY26 Earnings Conference Call for Feb 13

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Feb 2026, 04:34 PM

Endurance Technologies Limited has announced a conference call for analysts and investors on February 13, 2026, at 11:00 AM IST. This follows the Board of Directors meeting scheduled for February 12, 2026, where the company will approve its unaudited financial results for the quarter and nine months ended December 31, 2025. The call will feature top management, including the Managing Director and Group CFO, providing a discussion on earnings performance followed by a Q&A session. This is a standard procedure for the company to communicate its quarterly performance to the market.

Board meeting to approve Q3FY26 results is scheduled for February 12, 2026.
Investor conference call is set for February 13, 2026, at 11:00 AM IST.
The call will cover financial performance for the quarter and nine-month period ending December 31, 2025.
Management representation includes MD Anurang Jain, Group CFO R S Raja Gopal Sastry, and CEO of Endurance Overseas Massimo Venuti.

💡 Investors should monitor the financial results release on February 12 and may join the conference call on February 13 to understand management's outlook on the auto component sector.

Endurance Tech Receives Revised Subsidy Eligibility of Rs 858.29 Cr, Up by Rs 252.26 Cr

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 13 Jan 2026, 06:16 PM

Endurance Technologies has received an addendum to its Eligibility Certificate under the Maharashtra Package Scheme of Incentives - 2019. The total eligible incentive has been revised upwards to Rs. 858.29 crore from the previously reported Rs. 606.03 crore, representing an increase of Rs. 252.26 crore. These incentives pertain to fixed asset investments made at the company's Waluj units between April 2019 and March 2025. The company is now eligible to claim up to Rs. 125.38 crore per financial year through SGST refunds and electricity duty exemptions until September 2031.

Total eligible incentive increased by Rs. 252.26 crore to a new total of Rs. 858.29 crore.
Maximum annual incentive of Rs. 125.38 crore admissible from April 2025 to September 2031.
Incentives are based on fixed asset investments made at Waluj units from April 2019 to March 2025.
Benefits will be realized through Industrial Promotion Subsidy (SGST refunds) and Electricity Duty exemptions.

💡 Investors should view this as a significant boost to the company's future cash flows and net margins over the next six years. The increased subsidy provides a clear tailwind for the company's profitability from its Maharashtra operations.

Endurance Technologies VP Srihari Kanthamani Acquires 800 Shares Worth ₹20.5 Lakh

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 01 Jan 2026, 12:10 PM

Mr. Srihari Kanthamani, Vice President - Corporate Purchase and a Designated Person at Endurance Technologies, purchased 800 equity shares on December 30, 2025. The transaction was valued at approximately ₹20.51 lakh and was executed through an open market purchase on the NSE. This acquisition increased his total holding from a nominal 25 shares to 825 shares. While the transaction volume is small relative to the company's total equity, insider buying is typically viewed as a sign of management confidence.

Purchase of 800 equity shares by Vice President - Corporate Purchase, Srihari Kanthamani
Total transaction value amounted to ₹20,51,200 excluding taxes and brokerage
The shares were acquired via an open market transaction on December 30, 2025
Post-acquisition, the individual's stake increased from 0.0000018% to 0.000058%

💡 This is a minor insider purchase and does not significantly impact the company's fundamentals. Investors should focus on broader business performance and larger institutional trades for significant direction.

Endurance Technologies Receives GST Demand Order of Rs 12.39 Crore

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 30 Dec 2025, 11:51 AM

Endurance Technologies has received a tax demand order from the Deputy Commissioner, Rudrapur – I, Uttarakhand, pertaining to the financial year 2021-22. The total demand of Rs 12.39 crore includes a tax component of Rs 11.26 crore and a penalty of Rs 1.13 crore. The order primarily concerns alleged mismatches in Input Tax Credit (ITC) between GSTR-2A and company filings. The company has clarified that it intends to file an appeal and does not foresee any material impact on its financial or operational activities.

Total demand of Rs 12.39 crore issued by Uttarakhand tax authorities for FY 2021-22.
The demand comprises Rs 11.26 crore in tax and a penalty of Rs 1.13 crore.
Issues cited include ITC mismatches in GSTR-2A, reversal of ITC by customers, and eligibility concerns.
The company is in the process of filing an appeal against the order.
Management states there is no material impact on the company's financial operations.

💡 Investors should view this as a routine tax dispute; the amount is not significant enough to impact the company's valuation. No immediate action is required.

Endurance Technologies Receives Approval for Merger of Italian Subsidiaries

🟢 POSITIVE ⭐ 7/10

M&A 📅 29 Dec 2025, 05:16 PM

Endurance Technologies has received regulatory approval from the Italian Chamber of Commerce for the merger of its wholly-owned step-down subsidiaries in Italy. The restructuring involves merging Endurance Engineering S.r.l and Endurance S.p.A into Endurance Castings S.p.A. The merger is set to be effective from January 1, 2026, with an appointed date of April 1, 2025. Post-merger, the surviving entity will be renamed Endurance S.p.A to streamline the corporate structure in the European market.

Regulatory approval received from the Italian Chamber of Commerce for the consolidation of three step-down subsidiaries.
The merger involves Endurance Engineering S.r.l and Endurance S.p.A merging into Endurance Castings S.p.A.
Effective date of the merger is January 1, 2026, with a retrospective appointed date of April 1, 2025.
Endurance Castings S.p.A will be renamed Endurance S.p.A as part of the corporate restructuring process.

💡 Investors should view this as a positive move to streamline international operations and potentially reduce administrative overhead. No immediate action is required as the merger involves wholly-owned subsidiaries and does not change the consolidated shareholding.

Endurance Technologies Reports Cyber Security Incident; No Material Impact on Operations

🔵 WATCH ⭐ 6/10

OTHER 📅 23 Dec 2025, 07:23 PM

Endurance Technologies disclosed a cyber security incident on its IT infrastructure occurring on December 23, 2025. The company responded by isolating affected systems and starting remediation to contain the impact. Currently, management states there is no material impact on core operations or the financial position. A detailed investigation is ongoing to ensure all risks are mitigated.

Cyber security incident detected on IT infrastructure on December 23, 2025.
Immediate isolation and remediation measures were taken to contain the breach.
Management reports no material impact on core operations or financial position at this stage.
A detailed investigation is currently underway to assess any potential future impacts.

💡 Monitor subsequent filings for any updates on data integrity or potential operational disruptions. The current neutral stance is based on management's assessment of no material impact.

Endurance Technologies to Consider Q3 Results on Feb 12, 2026; Trading Window Closes Jan 1

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 18 Dec 2025, 05:12 PM

Endurance Technologies has scheduled a Board Meeting on February 12, 2026, to approve its unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2025. In compliance with SEBI insider trading regulations, the trading window for designated persons will be closed from January 1, 2026, until February 14, 2026. This is a routine regulatory filing ahead of the quarterly earnings release. Investors should look for the financial performance data to be released on the meeting date.

Board meeting scheduled for February 12, 2026, to approve Q3 and nine-month financial results.
Trading window closure starts from January 1, 2026, for all designated persons.
Trading window to reopen on February 14, 2026, which is 48 hours after the results announcement.
The results will encompass both standalone and consolidated financial statements for the period ending December 31, 2025.

💡 No immediate action is required as this is a routine regulatory announcement. Investors should monitor the results on February 12, 2026, for insights into the company's operational performance.

Endurance Technologies to Meet Institutional Investors on December 17, 2025

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Dec 2025, 09:50 AM

Endurance Technologies Limited has scheduled multiple group and one-on-one meetings with institutional investors in Mumbai on December 17, 2025. The meetings, organized by DAM Capital Advisors Limited, will run from 10:00 a.m. to 5:00 p.m. Senior management will be present to interact with investors and discuss the company's performance and outlook. This is a routine regulatory disclosure under SEBI Listing Obligations and Disclosure Requirements.

Multiple group and one-on-one meetings scheduled for December 17, 2025, in Mumbai.
Meetings are organized by DAM Capital Advisors Limited and involve senior management.
The interaction window is set between 10:00 a.m. and 5:00 p.m.
Discussions will likely revolve around the existing corporate presentation dated June 3, 2025.

💡 No immediate action is required as this is a routine investor relations event. Investors may look for any subsequent disclosures or presentation updates that might emerge from these interactions.

View All ENDURANCE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 13% YoY to INR 11,561 Cr in FY2025. Domestic operations grew 12.5% YoY, while overseas operations grew 16.7% YoY. In H1 FY2026, revenue grew 20% YoY to INR 6,902 Cr, primarily driven by the Stoferle acquisition which added 39% growth to European operations in Q1 FY2026.

Geographic Revenue Split

Domestic (India) operations contribute approximately 62% of revenue, while European operations contribute approximately 38%. European revenue reached EUR 88.7 million in Q2 FY2026, a 32.7% increase YoY.

Profitability Margins

Operating Profit Margin (OPM) improved from 13.0% in FY2024 to 13.4% in FY2025 and Q1 FY2026. Net profit margin in Europe stood at 4.4% (EUR 3.9 million) in Q2 FY2026 compared to 4.3% in the previous year.

EBITDA Margin

Consolidated EBITDA margin was 13.4% in FY2025, a 40 bps improvement from 13.0% in FY2024. European EBITDA margin for Q2 FY2026 was 17.8% (EUR 15.8 million), up from 16% YoY.

Capital Expenditure

Planned annual capital expenditure is estimated between INR 1,000 Cr and INR 1,200 Cr for FY2026 and FY2027 to support capacity expansion and new product lines like ABS and 4W suspensions.

Credit Rating & Borrowing

Maintains a strong credit profile with a negative net debt position. Gearing is low at 0.18x as of March 2025. Total debt to OPBDITA ratio is comfortable at 0.6 times.

⚙️ Operational Drivers

Raw Materials

Aluminum (accounting for 40% of recent price increase impacts), steel, and specialized components for electronic systems like BMS.

Import Sources

Sourced from domestic Indian suppliers and European markets for overseas operations; specific countries not disclosed beyond regional operations.

Capacity Expansion

Expanding ABS manufacturing capacity to target a 25% market share following government mandates; also expanding into 4W suspension with a Korean technology partner.

Raw Material Costs

Raw material costs were impacted by a 40-50% increase in commodity prices (primarily aluminum) in recent quarters, which the company manages through pass-through mechanisms with OEMs.

Manufacturing Efficiency

Maintains healthy asset utilization and a strong track record in quality control to reduce rejections and save costs; RoCE has been sustained at over 15% for the last five years.

📈 Strategic Growth

Expected Growth Rate

12-14%

Growth Strategy

Growth will be driven by the integration of Stoferle (acquired April 2025), a robust domestic order book of INR 4,692 Cr, and the Ministry of Road Transport's mandate for ABS on 2-wheelers. The company is also pivoting to the 4W segment, aiming to increase its 4W revenue mix from 25% to 45%.

Products & Services

Aluminium die-cast components, suspension systems (front forks, shock absorbers), braking systems (disc brakes, ABS), transmission products (clutch assemblies), alloy wheels, and Battery Management Systems (BMS).

Brand Portfolio

Endurance, Maxwell Energy Systems (BMS), Stoferle (Machined castings).

New Products/Services

Anti-lock Braking Systems (ABS) for 2W, 4W suspensions for small cars, aluminum forgings, and driveshafts.

Market Expansion

Targeting the Indian passenger vehicle (PV) market through a Korean partnership and expanding European presence in machined aluminum die casting via Stoferle.

Market Share & Ranking

Market leader in 2W suspension systems in India; targeting 25% market share in the upcoming 2W ABS market.

Strategic Alliances

Partnership with a Korean company for 4-wheeler suspension technology; acquisition of Stoferle GmbH and Stoferle Automotive GmbH in April 2025.

🌍 External Factors

Industry Trends

The industry is shifting toward electrification and safety regulations. Endurance is positioning itself by offering BMS for EVs and preparing for the 2025 ABS mandate for all 2-wheelers.

Competitive Landscape

Faces high competitive intensity in the 4W suspension segment from established players; competes with global auto-component manufacturers in the European die-casting market.

Competitive Moat

Moat is built on low-cost manufacturing ('frugal technology'), long-standing OEM relationships, and market leadership in suspension and die-casting. This is sustained through high R&D focus and a negative working capital cycle.

Macro Economic Sensitivity

Highly sensitive to automotive industry cyclicality and domestic consumer demand for 2W and 3W vehicles.

Consumer Behavior

Increasing consumer preference for safety features (ABS) and a gradual shift toward hybrid and electric vehicles in both India and Europe.

Geopolitical Risks

Exposure to European market demand slowdowns and regulatory shifts toward Battery Electric Vehicles (BEVs), which represented 17.4% of the EU market in Q2 FY2026.

⚖️ Regulatory & Governance

Industry Regulations

Ministry of Road Transport and Highways (MoRTH) draft guidelines mandate ABS for all 2-wheelers sold after 2025, which significantly expands the addressable market.

Environmental Compliance

Aligning product portfolio with EV environment through BMS offerings to meet global decarbonization trends.

⚠️ Risk Analysis

Key Uncertainties

Potential for large debt-funded acquisitions impacting the financial profile (gearing limit of 0.8x) and the inherent cyclicality of global automotive registrations.