Endurance Technologies LimitedAutomobilesENDURANCE
Q1 FY27 concall · earnings callEndurance Technologies Limited
Endurance delivered strong revenue growth amid a challenging global environment, focusing on expanding capacities for brakes, EV battery packs, and 4W aluminum castings while managing commodity cost headwinds.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Standalone Total Income | ₹3,194.15 Cr | 35.9% | |
| Standalone EBITDA | ₹357.78 Cr | 17.1% | |
| Standalone PAT | ₹194.62 Cr | 17.4% | |
| Standalone EBITDA Margin | 11.2% | — | |
| Consolidated Total Income | ₹4,348.28 Cr | 29.6% | |
| Consolidated PAT | ₹244.52 Cr | 8% | |
| India EV Sales (Standalone) | ₹129.7 Cr | 87.6% |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹2,859.16 Cr+11.6% YoY-1.8% QoQ | ₹184.39 Cr+21.1% YoY-9.2% QoQ | ₹13.11+21.1% YoY-9.1% QoQ |
| Q2 FY25 | ₹2,912.66 Cr+14.4% YoY+3.1% QoQ | ₹202.98 Cr+31.3% YoY-0.4% QoQ | ₹14.43+31.3% YoY-0.4% QoQ |
| Q1 FY25 | ₹2,825.50 Cr+15.3% YoY+5.2% QoQ | ₹203.86 Cr+24.7% YoY-3% QoQ | ₹14.49+24.7% YoY-3% QoQ |
| Q4 FY24 | ₹2,684.78 Cr+20.2% YoY+4.8% QoQ | ₹210.15 Cr+54% YoY+38% QoQ | ₹14.94+54% YoY+38% QoQ |
| Q3 FY24 | ₹2,561.11 Cr+22.2% YoY+0.6% QoQ | ₹152.28 Cr+40.7% YoY-1.5% QoQ | ₹10.83+40.8% YoY-1.5% QoQ |
TL;DR
- Standalone total income grew 35.9% YoY to ₹ 3,194.15 crores.
- EBITDA margin at 11.2% was impacted by commodity cost increases.
- Order wins in India for Q1 were ₹ 391.6 crores, with significant wins for suspension and brakes.
- EV sales in India grew 87.6% YoY to ₹ 129.7 crores.
- Multiple new plants and capacity expansions are on track for SOP across brakes, battery packs, castings, and alloy wheels.
- European operations booked € 13.9 million in new orders despite a challenging market.
Said on the call
“In spite of the conversion cost increase... we could still post a healthy EBITDA amount increase of 17.1%... due to better operational efficiency and various cost controls across our plants.”
From the Q&A
| Topic | What management said |
|---|---|
| Europe Order Wins & Outlook | Order wins of € 13.9 million in Q1 include a large Mercedes hybrid program and a Stellantis ICE order; the European market is challenging with Chinese OEMs taking share, but Endurance sees growth through M&A and taking over business from bankrupt competitors. |
| Margin Headwinds and Recovery | Commodity cost increases in Q1 led to higher RMC percentage; raw material rate pass-throughs from Q1 are expected to be settled in Q2, and softening aluminum prices should help margins. |
| 4W Castings and Shendra Facility | 4W casting business was ~₹180 crores in Q1; the AURIC Shendra plant has won orders worth ₹513 crores per annum from a US EV OEM, JLR, and Valeo, with SOP starting in September 2026. |
| Battery Pack Business and Profitability | Battery pack SOP for Hero MotoCorp started in June 2026; 4W battery pack capex of ₹62 crores is planned with SOP by Q4 FY27; margins are being worked on with a target to reach company average, and the business is high-value with packs potentially costing ~₹1 lakh for cars. |
| Capex Strategy | FY27 capex is expected to be similar to FY26's ₹800 crores; the company uses a mix of in-house and outsourced capacity through Tier-2 vendors and is not losing orders due to capex constraints. |
| Product Market Share | Market shares are: brake systems 34.5%, front fork 44%, shock absorbers 37%, and brake disc 42% in India. |
Guidance
- Capital expenditure in FY 27 is expected to remain similar to the FY 26 capex of ₹ 800 crores.
- Multiple SOPs are expected in Q2, Q3, and Q4 across brakes, castings, battery packs, suspension, and driveshaft programs.
- Expect significant pickup in the Shendra casting business by Q4 FY 27.
- Expect better Q2 and Q3 margins as commodity cost pass-throughs are settled.
Source
Summary written from the transcript filed by Endurance Technologies Limited for the call held on 14 Aug 2026; published 21 Aug 2026, 17:15 IST.
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