ENDURANCETECHNOLOGIES Information Technology 10 Feb 2026

Endurance Technologies Ltd — Q3 FY26

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.

bullish high

Revenue ₹3,608 Cr +22.2%

EBITDA ₹339 Cr +18%

PAT ₹222 Cr +8.8%

EBITDA Margin 13% -40bps

Duration 63 min

Read Time 1 min read

✓ Verified against BSE filing

2-Min Summary

✦ AI-Generated from Full Transcript

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.

Key Numbers

Order wins (9M FY26 India) ₹1,282.8 Cr

+42% YoY

Includes ₹530 Cr from four-wheeler and non-auto segments; strong diversification.

EV sales growth (9M FY26) ₹287 Cr

+65.6% YoY

CAGR of 71% over 4 years vs industry 21%; driven by suspension, casting, brakes, alloy wheels.

Inverted front fork sales (FY26E) 650,000 units

+30% YoY

Expanding OEM base to six; premiumization trend driving adoption.

Maxwell turnover (9M FY26) ₹114 Cr

+63% YoY

Record revenue; cumulative order book of ₹232 Cr; one in 12 e-2Ws use Maxwell BMS.

Management Guidance

ABS mandate clarity expected by Q4 FY26

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 guidance growth

Capex in India to be controlled below ₹800 crore in FY27

Management plans to sweat assets and keep India capex below ₹800 crore, focusing on automation and profitable growth.

Management guidance capex

Greenfield plants to be fully operational by H2 FY27

Chennai disc brake, Shendra castings, Aurangabad alloy wheel, and Pune battery pack plants will ramp up; full impact in H2 FY27.

Management guidance expansion

Solar damper business to double by FY26 end

Exports of solar dampers worth ₹24 Cr in 9M; expected to double by year-end; new US client orders from mid-FY27.

Management guidance revenue

Key Risks

European auto market weakness and order inflow slowdown

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.

high · analyst_question

Aluminum cost inflation pressuring margins

Raw material cost increases, especially aluminum (55% of purchases), led to 40bps EBITDA margin contraction; pass-through may be limited.

medium · management_commentary

Delay in ABS mandate finalization

ABS guidelines still awaited; any further delay could push back expected revenue from ABS and hydraulic brake systems.

medium · management_commentary

Execution risk in new plant ramp-ups

Multiple greenfield plants (Chennai, Shendra, Aurangabad, Pune) are under construction; delays in SOP or customer approvals could impact revenue.

medium · data_observation

Notable 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.

Anurang Jain · Managing Director

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.

Anurang Jain · Managing Director

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.

Massimo Venuti · Director and CEO Endurance Overseas

Frequently Asked Questions

What was Endurance Technologies's revenue in Q3 FY26?

Endurance Technologies reported revenue of ₹3,608 Cr in Q3 FY26, representing a +22.2% change compared to the same quarter last year.

What guidance did Endurance Technologies management give for FY27?

ABS mandate clarity expected by Q4 FY26: 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. Capex in India to be controlled below ₹800 crore in FY27: Management plans to sweat assets and keep India capex below ₹800 crore, focusing on automation and profitable growth. Greenfield plants to be fully operational by H2 FY27: Chennai disc brake, Shendra castings, Aurangabad alloy wheel, and Pune battery pack plants will ramp up; full impact in H2 FY27. Solar damper business to double by FY26 end: Exports of solar dampers worth ₹24 Cr in 9M; expected to double by year-end; new US client orders from mid-FY27.

What are the key risks for Endurance Technologies in FY27?

Key risks include European auto market weakness and order inflow slowdown — 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.; Aluminum cost inflation pressuring margins — Raw material cost increases, especially aluminum (55% of purchases), led to 40bps EBITDA margin contraction; pass-through may be limited.; Delay in ABS mandate finalization — ABS guidelines still awaited; any further delay could push back expected revenue from ABS and hydraulic brake systems.; Execution risk in new plant ramp-ups — Multiple greenfield plants (Chennai, Shendra, Aurangabad, Pune) are under construction; delays in SOP or customer approvals could impact revenue..

Did Endurance Technologies meet its previous quarter's guidance?

Scorecard data is being built as historical quarters are processed.

Where can I read the full Endurance Technologies Q3 FY26 concall transcript?

The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.