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Earnings Call Transcript

Endurance Technologies Earnings Call Transcript: Key Takeaways

Strong consolidated revenue growth driven by India and Europe, despite volatile commodity prices. Robust order book execution across EV and four-wheeler segments offset one-time European depreciation hits.

Endurance Technologies Q2 FY27 concall: date, live audio and summaryConcall page →
Highlights
Revenue growthConsolidated income up 33% YoY; India standalone up 40%.
MarginsConsolidated EBITDA at 12.1%; India margin slightly compressed by RMC.
Order bookTotal order wins since FY22 reach ₹6,372 Cr excluding Bajaj.
Demand visibilityStrong domestic demand; European car market remains sluggish but stabilizing.
Management confidenceBalanced; focused on aggressive diversification into EV and four-wheeler segments.

Growth

Consolidated income grew 33% YoY. India standalone revenue rose 40%, while Europe grew 13% despite a sluggish auto market.

Outlook

Cumulative SOP for four-wheeler proprietary products targets ₹800 Cr revenue by FY31. Capex for FY27 guided at ₹1,100 Cr (India).

Risks

Commodity price volatility, especially steel. Geopolitical tensions in West Asia impacting energy costs and global supply chains.

Last quarter's promises, checked

Delivered

  • Hero battery-pack SOP Jun-26 → battery packs launched for 2W OEMs (= BEAT)

Partly delivered

  • Gas/conversion cost recovery in Q2 or Q3 → price hikes from Oct-26 (= PARTIAL)
  • Bajaj dual-channel ABS SOP this quarter (120k/yr) → ABS launched; volume unverified (= PARTIAL)

Missed

  • Q2 EBITDA margin above Q1's 13.1% → consolidated 12.1% (= MISS)
  • All RM increases recovered in Q2 → OEM price hikes from Oct-26 (= MISS)
  • FY27 India capex ~₹800 Cr (flat on FY26) → ₹1,100 Cr (= MISS)
Source

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

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Endurance Technologies Ltd: key numbers

Share price
₹2,502.70
Market cap
₹35,204 Cr
Revenue (annual)
₹14,596 Cr
Net profit (annual)
₹951.7 Cr
P/E (TTM)
34.6×Sector 31.7×
Promoter holding
75.00%+0.00% QoQ
FII holding
12.07%Current quarter

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

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