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ENDURANCE - Endurance Tech.

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

📢 Recent Corporate Announcements

Endurance Technologies Seeks Re-appointment of Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 29 Apr 2026, 01:09 PM

Endurance Technologies has initiated a postal ballot to seek shareholder approval for the re-appointment of Mr. Anant Talaulicar as an Independent Director. The proposed second term spans five consecutive years, starting from July 12, 2026, and ending on July 11, 2031. Shareholders eligible as of the April 24, 2026, cut-off date can participate in the remote e-voting process. The results of this corporate action are expected to be declared by June 4, 2026.

Proposed re-appointment of Mr. Anant Talaulicar as Independent Director for a second 5-year term
New term effective from July 12, 2026, to July 11, 2031
Remote e-voting period scheduled from May 4, 2026, to June 2, 2026
Cut-off date for voting eligibility set as April 24, 2026
Final results to be announced on or before June 4, 2026

💡 Investors should review the director's profile and participate in the e-voting process between May 4 and June 2, 2026. This is a routine governance matter and is not expected to have a significant impact on the stock price.

Endurance Tech Re-appoints Anant Talaulicar as Director; Ashish Nainawatee Named SMP

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 16 Apr 2026, 07:36 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 16 Apr 2026, 07:33 PM

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.

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.

💡 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: Uttarakhand HC Quashes Rs 13.52 Crore GST Demand Order

🟢 POSITIVE ⭐ 4/10

LEGAL 📅 30 Mar 2026, 06:28 PM

Endurance Technologies has received a favorable ruling from the Uttarakhand High Court regarding a GST demand order for FY 2021-22. The original order, which included a tax demand of Rs. 12.39 crore and a penalty of Rs. 1.13 crore, was challenged by the company via a Writ Petition. The High Court quashed the order on the grounds that a personal hearing was not provided and has remanded the case back for reassessment. This provides temporary relief to the company as the immediate tax liability is set aside pending a fresh review.

Uttarakhand High Court quashed a GST demand order totaling Rs. 13.52 crore (Tax: Rs. 12.39 Cr, Penalty: Rs. 1.13 Cr).
The demand pertained to alleged ITC discrepancies and GSTR-2A mismatches for the financial year 2021-22.
The court ruled in favor of the company citing the lack of a personal hearing before the original order was passed.
The matter has been remanded back to the tax authorities for a fresh reassessment after considering the company's submissions.

💡 Investors should view this as a procedural victory that removes immediate financial liability. While the matter is remanded for reassessment, the amount is not material enough to impact the long-term fundamentals of the company.

Endurance Tech Board Meeting on May 14 for FY26 Results and Dividend Recommendation

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 25 Mar 2026, 04:47 PM

Endurance Technologies Limited has announced that its Board of Directors will meet on May 14, 2026, to review and approve the audited financial results for the quarter and year ending March 31, 2026. The board will also evaluate a potential dividend payout for the financial year 2025-26. In compliance with SEBI insider trading regulations, the trading window for the company's securities will be closed from April 1, 2026, to May 16, 2026. This announcement provides investors with the timeline for the upcoming earnings release and corporate action.

Board meeting set for May 14, 2026, to approve standalone and consolidated FY26 results.
Dividend recommendation for the financial year 2025-26 to be considered during the meeting.
Trading window closure period defined from April 1, 2026, through May 16, 2026.

💡 Investors should track the May 14 announcement for the company's financial health and dividend details.

Endurance Technologies to Meet Axis Mutual Fund on March 25, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Mar 2026, 06:36 PM

Endurance Technologies Limited has scheduled a one-on-one meeting with Axis Mutual Fund on March 25, 2026, in Pune. The meeting is set to take place from 3:00 p.m. to 4:00 p.m. and will feature senior management representatives. The discussion will likely center around the company's corporate presentation updated as of March 5, 2026. This is a routine engagement under SEBI Listing Obligations and Disclosure Requirements.

One-on-one meeting scheduled with Axis Mutual Fund for March 25, 2026.
Meeting duration is one hour, from 3:00 p.m. to 4:00 p.m. in Pune.
Senior management representatives from Endurance Technologies will be in attendance.
The interaction will utilize the corporate presentation dated March 5, 2026.

💡 This is a routine investor interaction and requires no immediate action. Investors may review the company's latest corporate presentation for insights into their long-term strategy.

Endurance Technologies Reports Insider Trading Code Violation by R&D Head; Penalty Imposed

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 20 Mar 2026, 07:21 PM

Endurance Technologies has reported a violation of its Insider Trading Code of Conduct by Mr. Prajod Parameswaran Ayyappath, Head of R&D Transmission. The violation involved a contra-trade where 2 shares were sold within six months of their purchase. Specifically, 2 shares bought for Rs. 5,484.60 in September 2025 were sold for Rs. 4,939.20 in March 2026. The company has imposed a penalty of Rs. 10,000 on the individual, which has been remitted to the SEBI Investor Protection and Education Fund (IPEF).

Designated Person (Head of R&D Transmission) violated the Code of Conduct by executing a contra-trade within 6 months.
The transaction involved only 2 shares purchased for Rs. 5,484.60 and sold for Rs. 4,939.20.
A penalty of Rs. 10,000 was imposed on the employee for the oversight and remitted to SEBI IPEF.
The company confirmed this was the first such violation reported since the last financial year.

💡 No action is required from investors as the transaction volume is negligible and the company has followed standard regulatory procedures to address the compliance lapse.

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.

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.