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Revenue
₹3,608 Cr
verified against source
Revenue YoY
22.2%
reported change
EBITDA
₹339.1 Cr
latest reported figure
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record provenance
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What the record says.
Endurance Technologies delivered a strong Q3 FY26 with standalone revenue of ₹2,678.3 crore (+22.2% YoY) and EBITDA of ₹339.1 crore (+18% YoY), though EBITDA margin contracted 40bps to 12.7% due to aluminum cost inflation. PAT grew 8.8% to ₹170.7 crore, impacted by a ₹20.6 crore exceptional charge for new labor codes. The India business saw robust order wins of ₹1,282.8 crore in 9M FY26, driven by four-wheeler castings, solar dampers, and EV components. Key growth drivers include ABS mandate clarity (expected by Q4), new plant ramp-ups (Chennai disc brakes, Shendra castings, alloy wheels), and premiumization trends boosting inverted front forks and ASC. Management guided for controlled capex below ₹800 crore in India and expects full impact of greenfield plants in H2 FY27. Risk: European auto market weakness and order inflow slowdown could persist if regulatory uncertainty on ICE/EV transition continues.
Colored figures show movement against the previous available record.
Guidance to track
- Final guidelines for ABS on >50cc 2Ws and EVs >4kW expected by end of March 2026; SOP for dual-channel ABS ECU in Q1 FY27.
- Management plans to sweat assets and keep India capex below ₹800 crore, focusing on automation and profitable growth.
- Chennai disc brake, Shendra castings, Aurangabad alloy wheel, and Pune battery pack plants will ramp up; full impact in H2 FY27.
- Exports of solar dampers worth ₹24 Cr in 9M; expected to double by year-end; new US client orders from mid-FY27.
Risks flagged
- European order inflow declined to €15M in 9M FY26 vs €40M prior year due to regulatory uncertainty on ICE/EV transition and Chinese import competition.
- Raw material cost increases, especially aluminum (55% of purchases), led to 40bps EBITDA margin contraction; pass-through may be limited.
- ABS guidelines still awaited; any further delay could push back expected revenue from ABS and hydraulic brake systems.
- Multiple greenfield plants (Chennai, Shendra, Aurangabad, Pune) are under construction; delays in SOP or customer approvals could impact revenue.
Key quotes
- We are extremely focused on improving our profit margin percentage by focusing on manufacturing in-house versus outsourcing to our vendor partners where we cost to be higher with our vendor partners.
- In case they go for a CBS which is not electronica it is a mechanical CBS... the value of a brake assembly of these three parts is even in value is even higher than the ABS price.
- Our footprint, our industrial footprint in India is a big opportunity not for sure for the continuous growth for wheeler in India but also for Europe.
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