Endurance Tech Reports Robust Q1 FY26 Growth; Announces Major ABS, EV Component & 4W Expansion
The announcement details strong financial performance, major strategic initiatives like the 5-fold ABS capacity expansion, new plants, significant order wins across EV and 4W segments, and the full acquisition of Maxwell, indicating substantial future revenue and market share growth.
The company reported strong standalone and consolidated financial growth in Q1 FY26, announced significant capacity expansions for ABS and EV components, secured substantial new orders across multiple segments, and completed a key acquisition, all pointing to robust future growth.
Endurance Technologies Limited reported strong financial results and significant strategic advancements for Q1 FY26.
* Financial Performance (Q1 FY26): * Standalone: Total income grew 10.1% year-on-year to ₹2,351 crore, driven by content addition and price corrections. Profit After Tax (PAT) increased to ₹166 crore (7.1% margin) from ₹163 crore (7.6% margin) in Q1 FY25. * Europe Operations: Total income grew 28.5% year-on-year to €103.2 million, with Stöferle acquisition contributing €22 million. PAT grew 42% to ₹62 crore. * Consolidated: Total income rose 17.3% to ₹3,355 crore. EBITDA grew 17.5% to ₹480 crore, maintaining a 14.3% margin. PAT increased 11% to ₹226 crore (6.7% margin).
* Strategic Growth & Expansion: * ABS Opportunity: New safety requirements mandating 100% ABS for 2W (above 50cc ICE and 4kW EV) from January 2026 are expected to increase ABS demand 5-fold. Endurance, the only Indian player, plans to expand its ABS capacity from 6.4 lakh units to 2.4 million additional units by March 2026. * New Chennai Plant: A new plant for disc brake assembly (master cylinder, caliper, brake disc, brake hoses) is planned in Chennai to cater to South Indian OEMs. * AURIC Shendra: Commenced shipments to a leading European OEM and supplied initial samples for Mahindra's EV motor housing, with SOP planned for Q4 FY26. * AURIC Bidkin: 2W alloy wheel plant with 3.6 million units/annum capacity to start SOP in week 4 of August 2025, with capacity largely booked. * Battery Pack Manufacturing: Civil work complete, machinery ordered, protos to be submitted in Q2 FY26, with SOP planned for January 2026. Received LOI from a leading 2W OEM for a peak business value of ₹300 crore per annum. * Maxwell Acquisition & BMS: Now 100% owner of Maxwell. Secured cumulative orders worth ₹156 crore per annum for Battery Management Systems (BMS), reaching peak in Q1 FY27, including applications for motorcycles, 3W, tractors, and airport cargo handling electric buggies. * SMT Lines: Planning to add two new high-speed Surface-Mounted Technology lines in Chhatrapati Sambhajinagar to meet increased demand for BMS and future ABS electronic control unit boards. * R&D Expansion: New suspension R&D center fully operational since July 2025, focusing on 2W, 3W, and 4W applications. Also setting up a new R&D facility for ABS and 2W/4W brakes at Waluj. * New Product Wins: Began supplies of inverted front forks to TVS, with orders from Hero MotoCorp and a Chinese OEM starting this financial year. Secured first order for 4W drum brakes from Tata Motors. Started production of solar suspension/tracking system for a Spanish client with a ₹200 crore order. * Aluminium Forging: Supplies to Jaguar Land Rover expected from January 2026, with new orders from Royal Enfield and Hero MotoCorp. Ordered a fifth aluminium forging press for a new plant in Waluj. * Clutches: Began SOP in May 2025 for Hero MotoCorp clutch (peak 1 lakh units/month by Q4 FY26). SOP for assist-and-slip APTC clutches to Royal Enfield and Bajaj Auto will start in September 2025.
* New Orders (Q1 FY26): * India business: ₹252 crore (excluding ₹300 crore for battery packs). Key customers include Royal Enfield, TVS, Mahindra, and first 4W foundation business from Tata Motors. * EV segment cumulative orders: ₹864 crore (₹1,017 crore with Bajaj Auto). * Total orders since FY22: ₹4,329 crore (₹3,612 crore new business). * Europe business: EUR 2 million for EV components.
* CAPEX: India CAPEX for Q1 FY26 was ₹286 crore. The company expects India CAPEX to cross ₹800 crore for FY26 and does not foresee a reduction in FY27 due to ongoing growth opportunities and inorganic growth plans.
* Management Outlook: Mr. Anurang Jain, Managing Director, highlighted the focus on building strength and diversity, serving multiple OEMs across India and Europe in ICE and electric vehicles. He emphasized the company's confidence in its ability to meet the increased ABS demand due to cost efficiencies and in-house capabilities.
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