Endurance Technologies Ltd(ENDURANCE)

NSE: ENDURANCEBSE: 540153

₹ 2,245-4.12%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 31,579 crNext results: 3 Nov 2026Website: www.endurancegroup.comUpdated: 24 Oct 2026

About

Endurance Technologies Ltd is India's largest aluminium die casting company and a market leader in two-wheeler suspension systems, supplying die castings, suspension, brakes, transmission components, alloy wheels and embedded electronics to Indian and European OEMs. The company operates manufacturing plants across India and, through its subsidiary Endurance Overseas SpA, across Italy, Germany and other European locations. Reported FY26 consolidated revenue was ₹14,595.88 crore.^[1][2]

Business segments

India standalone total income was ₹10,696 crores in FY26 (+20% YoY), covering die casting, suspension, brakes, transmission, alloy wheels and embedded electronics for 2W, 3W and 4W OEMs.^[3]
European operations (Endurance Overseas SpA) had a full-year EBITDA margin of 18.5% in FY26; Q1 FY27 Europe revenue was €104.3 million (+1.1% YoY in euro terms).^[3]
India standalone EV sales were ₹129.7 crores in Q1 FY27 (+87.6% YoY); consolidated EV and PHEV sales were ₹931.9 crores (+20.9% YoY).^[4]
4W casting revenues were about ₹180 crores in Q1 FY27 (~6% of standalone), before AURIC Shendra contributed.^[4]
The company targets 4W at 45% of consolidated turnover by FY2029-30 and aftermarket at 10% of domestic revenue by FY2027-28 (FY25 annual report).^[5]

Products and portfolio

Portfolio spans aluminium die casting, suspension (front forks, shock absorbers), braking (ABS, disc and drum), transmission components, alloy wheels and embedded electronics including ABS ECUs and battery management systems.^[1]
India market share: brake assembly 34.5% and brake disc 42% in FY26; front fork 44% and shock absorber 37% in Q1 FY27.^[4]
Share of wallet in the scooter segment was 14.3% in Q1 FY27.^[4]
Maxwell, the wholly owned electronics subsidiary, makes BMS units and DC-DC converters; it posted its first profitable quarter in Q1 FY27 with total income of ₹56.5 crores (+85% YoY).^[4]
Aluminium alloy is about 55% of purchases as of FY26, with recycled aluminium a substantial share of input.^[1]

Operations and capacity

AURIC Bidkin alloy wheel plant started production with 36 lakh wheels a year of capacity, already fully booked (FY26 annual report).^[1]
Total alloy wheel capacity across Chakan and AURIC Bidkin is 48 lakh wheel sets per annum; Bidkin was at 60% utilisation in Q1 FY27.^[4]
AURIC Shendra machined-castings plant began commercial production on 25 September 2026 with 900 MT castings parts per month initial capacity, an investment of ₹4,009 million from internal accruals.^[6]
An integrated Brakes R&D facility was commissioned at Waluj, Chhatrapati Sambhajinagar in January 2026, including 4W brake testing.^[1]
The company had 4,586 employees as of FY26.^[1]

Key operating numbers

India 2W industry volumes were 7.18 million units in Q1 FY27 (+23.6% YoY); PV volumes were 1.79 million units (+22.7% YoY).^[4]
India standalone new order wins were ₹391.6 crores in Q1 FY27; cumulative India EV orders (incl. Bajaj) stood at ₹1,806 crores per annum, vs EV wins exceeding ₹1,700 crore cited in the FY26 annual report.^[4][1]
Europe business wins were €16 Mn in FY26, vs €40.2 million of orders in FY25.^[1][5]
Standalone total income rose 35.9% YoY to ₹3,194 crores in Q1 FY27; excluding a 12.9% commodity content increase, underlying growth was about 23 - 24%.^[4]
Standalone raw material cost rose to 68.4% of total income in Q1 FY27 from 64.8% in Q1 FY26.^[4]
ABS single-channel volumes were about 280,000 units in FY26; ABS volumes are targeted to grow 100% - 150% in FY27.^[3]

Customers and distribution

Honda Motorcycles and Scooters India is the second-largest OEM customer for the standalone India business.^[7]
AURIC Bidkin wheel customers include Bajaj Auto, Royal Enfield, Ather, Suzuki and Piaggio.^[1]
AURIC Shendra 4W casting plant has peak annual business potential near ₹513 crore from customers including a large US EV OEM, JLR, Valeo and Yazaki; key programmes start Q2 FY27.^[1]
Hero MotoCorp brakes business reached ₹200 crores per annum after five new brake platforms were added in Q3 FY26.^[8]
4W and non-automotive order wins were ₹743 crores in FY26, about 47% of India order intake of ₹1,596 crores.^[3]

Expansion and capex

India standalone capex was about ₹800 crores in FY26 vs ₹600 crores in FY25; FY27 capex expected at ~₹800 crores.^[3]
2W battery pack plant near Pune began SOP for Hero MotoCorp in June 2026, ramping to ~17,000 - 18,000 packs/month by October 2026; ₹62 crore capex adds 4W packs with SOP in Q4 FY27.^[4]
New aluminium forging and machined castings facilities at AURIC Shendra; ABS, brake and electronics capacity being expanded at Waluj, Chennai and Sanand (FY26 annual report).^[1]
Chennai disc brake plant SOP for Royal Enfield in September 2026; capacity of 3 million assemblies and 4 million discs per annum, scaling to 9 million and 9.6 million by Q1 FY28.^[4]
ABS capacity addition revised to 9 lakh units per annum (from 12 lakh), SOP September or early October 2026; dual-channel ABS for Bajaj Auto (120,000 units p.a.) in Q2 FY27.^[4]
Fifth aluminium forging press SOP in Q2 FY27 for Royal Enfield, JLR from Q3 FY27 and a German OEM from Q2 FY28; inverted front fork capacity to reach 100,000 units per month by end FY27.^[4]
Solar damper SOP for a US client in H2 FY27 and solar actuator SOP in Q4 FY27 from Sanand; solar orders total ₹345 crores.^[4]
Maharashtra PSI 2019 incentive enhanced to ₹858 crores (from ₹600 crores), via state GST refund over seven years.^[4]

Recent developments

On 6 October 2026, Endurance Overseas SpA acquired 100% of Fondalpress SpA (Italy) for €12.34 million (net €2.24 million after €10.10 million target cash).^[9]
On 29 September 2026, Endurance Overseas SpA bought the remaining 32% of Stöferle GmbH and Stöferle Automotive GmbH for €18 million, taking ownership to 100%, after a 60% stake taken in April 2025.^[10][5]
In FY26 Stöferle Automotive GmbH had total income of €76.99 million and PAT of €5.28 million; Stöferle GmbH had €17.34 million and €4.12 million.^[1]
Europe accelerated depreciation of ICE-linked assets phased out over 18 months; Europe PAT fell 31% to €4.4 million in Q1 FY27.^[4]
The FY26 annual report names West Asia tensions as a risk to energy supply routes, oil prices and logistics costs.^[1]

Market Cap

₹31,579 Cr

High / Low

₹3,075 / 2,144

Stock P/E

32.6

Price / Book

4.6

Book Value

₹486

EPS

₹67.7

No. of Shares

14.07 Cr

ROCE

17.9%

ROE

15.2%

OPM

9.2%

Debt / Equity

0.19

Sales

₹14,596 Cr

Net Profit

₹952 Cr

Promoter holding

75.0%

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