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Earnings Call Transcript

Endurance Technologies Earnings Call Transcript: Key Takeaways

Management reported strong 35.9% standalone revenue growth driven by market share gains and new order wins, despite volatile European macro conditions and high commodity prices impacting reported margins.

Highlights
Revenue growth35.9% standalone growth driven by high-value orders and new product SOPs.
MarginsUnderlying India EBITDA at 13.3% excluding non-value-add commodity price pass-throughs.
Order bookIndia order wins at ₹391.6 Cr; Europe wins at €13.9M.
Demand visibilityStrong domestic 2W demand; European car production soft due to competition.
Management confidenceConfident but cautious regarding European volatility and commodity price pass-through lags.

Growth

Growth is volume-led via market share gains in brakes and suspension; EV-specific standalone sales surged 87.4% YoY.

Outlook

Ongoing ₹800 Cr capex plan for FY27 focuses on capacity expansion for ABS, alloy wheels, and EV battery packs.

Risks

Commodity price lags and rising fuel/gas costs are compressing immediate EBITDA; Europe remains a challenging high-cost environment.

Last quarter's promises, checked

Delivered

  • India FY26 Capex ₹800 Cr → Delivered ₹800 Cr (= BEAT)
  • Maxwell FY26 Turnover ₹162 Cr → Delivered ₹162 Cr (= BEAT)
  • Alloy Wheel Sales Milestone 100k → Delivered >100k in Jan 2026 (= BEAT)

Partly delivered

  • ABS Expansion 12L units → Work commenced, SOP delayed to Sept 2026 (= PARTIAL)
  • Dual-channel ABS SOP June 2026 → On track for Bajaj, others Q2 FY27 (= PARTIAL)

Missed

  • Standalone EBITDA Margin 13.3% Adjusted → Delivered 12.6% Reported (= MISS)
  • Europe EBITDA Margin 20.5% Q4 → Delivered 18.5% FY26 (= MISS)
Source

Earnings Call Transcript filed with BSE, NSE: ENDURANCE. Summary written with AI assistance from the document.

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Endurance Technologies Ltd: key numbers

Share price
₹2,645.90
Market cap
₹37,218 Cr
Revenue (annual)
₹14,596 Cr
Net profit (annual)
₹951.7 Cr
P/E (TTM)
38.4×Sector 33.6×
Promoter holding
75.00%+0.00% QoQ
FII holding
12.69%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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