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Delay in ABS regulation implementation
View Risks →Endurance Technologies Limited — Q1 FY26
Endurance Technologies reported a strong Q1 FY26 with consolidated revenue of ₹3,355 crore (+17.3% YoY) and EBITDA of ₹480 crore (+17.5% YoY), maintaining margins at 14.3%.
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Endurance Technologies reported a strong Q1 FY26 with consolidated revenue of ₹3,355 crore (+17.3% YoY) and EBITDA of ₹480 crore (+17.5% YoY), maintaining margins at 14.3%. Growth was driven by content addition in brakes and suspension, price corrections for commodity inflation, and the Stephle acquisition in Europe. Standalone revenue grew 10.1% to ₹2,351 crore, but PAT margin dipped 50bps to 7.1% due to commodity pass-through and talent investments. The ABS regulatory mandate (effective Jan 2026) is a game-changer: Endurance plans to expand ABS capacity from 640k to 3 million units by March 2026, targeting 25% market share. New orders worth ₹252 crore were won, and cumulative order book stands at ₹4,950 crore. Key risks include potential 3-6 month delay in ABS regulation and European auto market uncertainty.
एंड्योरेंस टेक्नोलॉजीज ने पहली तिमाही में अच्छा प्रदर्शन किया। कुल कमाई ₹3,355 करोड़ रही, जो पिछले साल से 17.3% ज्यादा है। कंपनी का मुनाफा (EBITDA) ₹480 करोड़ (+17.5%) और मार्जिन 14.3% पर स्थिर रहा। वृद्धि ब्रेक और सस्पेंशन में नए उत्पादों, कच्चे माल की महंगाई के कारण कीमतों में सुधार और यूरोप में Stephle कंपनी खरीदने से हुई। स्टैंडअलोन कमाई 10.1% बढ़कर ₹2,351 करोड़ हुई, लेकिन शुद्ध मुनाफा मार्जिन 7.1% रह गया (0.5% गिरावट) क्योंकि कच्चे माल की लागत और नई प्रतिभा में निवेश बढ़ा। जनवरी 2026 से ABS ब्रेक अनिवार्य होगा, जिससे कंपनी अपनी ABS क्षमता 6.4 लाख से बढ़ाकर 30 लाख यूनिट करेगी और 25% बाजार हिस्सेदारी का लक्ष्य रखेगी। नए ऑर्डर ₹252 करोड़ मिले और कुल ऑर्डर बुक ₹4,950 करोड़ है। जोखिम: ABS नियम में 3-6 महीने की देरी और यूरोपीय बाजार में अनिश्चितता।
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ABS Installed Capacity
640,000 units
+2.4M units planned by Mar'26
Current capacity for single/dual channel ABS; adding 2.4M units to reach ~3M by March 2026.
Order Booking (India Q1 FY26)
₹252 crore
₹247 crore new business
Excludes ₹300 crore battery pack order. Key wins from Royal Enfield, TVS, Mahindra, and Tata Motors.
Cumulative Orders Won Since FY21
₹4,950 crore
₹3,986 crore new business
Out of new business, ₹1,150 crore expected to SOP in FY26, rest in FY27-28.
Europe Revenue (Euro)
€103.2 million
+28.5% YoY
Includes Stephle acquisition; organic growth ex-Stephle was 0.6%. EBITDA margin improved to 17.4%.
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Guidance and risk preview
Adding 2.4 million units of ABS capacity (two lines) by March 2026, on top of current 640,000 units, to meet expected 10-fold demand from mandatory...
Management expects 3-6 month delay based on past experience; final notification awaited.
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