Endurance Technologies

“So, I would say by end of this financial year, we should be at full capacities for as far as alloy wheels is concerned.”

“Even for the 4W, the new investment we are doing, I cannot name the company but of course that will also come with a good margin. Our target would be to try and reach margins which we are doing today on an average.”

“Though the government is yet to issue final guidelines, our ABS and CBS hydraulic brake expansion is progressing as planned, with SOP expected in September or early October 2026.”

“we had ordered a new surface-mounted technology line for which SOP is expected from next month.”

“The phase one key machinery is being shifted from Waluj, and the phase two will be completed in Q3 of this year. The SOP for Royal Enfield is expected by next month, with other OEMs following in Q3.”

“In the previous call, we spoke of setting up assembly lines for 4W passenger vehicle foundation brakes for Tata Motors. We are on track as SOP is expected next quarter.”

“SOP will start in September 2026 and we expect significant pickup in this business by Q4 FY 27.”

“In fact, our whole assembly line which has got a capacity of almost 17,000 to 18,000 battery packs a month will be fully used up by October.”

“I would say that on the 4.8 million wheel sets, which is 9.6 million wheels per annum- the Chakan plant is about 3 million sets per annum and is fully used up.”

“At our AURIC Bidkin alloy wheel plant, SOP for Bajaj began last year in October and for Royal Enfield, it is expected to start by end of this month, with peak volumes expected in Q3 of this financial year.”

“Our battery pack plant near Pune commenced SOP for Hero MotoCorp in June 2026. With this large order won, the plant is in a ramp-up phase to reach peak volumes by Q3 of this financial year.”

“our state-of-the-art solar damper plant at Sanand is ready now and our SOP for our Spanish client from this plant has started earlier this month.”

“With our focus on increasing 4W casting business at our AURIC Shendra plant at Chh. Sambhajinagar, order wins have continued to build, taking cumulative bookings to a peak annual business potential of ₹ 513 crores per annum.”

“We have won orders from Hyundai and Kia for new parts with SOP already started in this month. The business value is ₹ 80 crores per annum and will reach peak sales in FY 28.”

“We are also in close engagement with a key electric 2W OEM for a BMS opportunity. We have been asked to give the prototypes, and this programme has a large annual business potential.”

“At Maxwell, we have won ₹ 13 crores of new business in Q1, which has taken the total cumulative orders won to ₹ 238 crores per annum, which will peak in the quarter two of the next financial year.”

“Further, we have a strong pipeline of request for quotes of more than ₹ 300 crores for trucks and for 2W applications.”

“Our brake assembly share was 34.5% and our brake disc share in India was 42% in FY 26.”

“I would like to mention that the brakes business in the last 4 years has grown with a CAGR of more than 30%.”

“In Q1 FY 27, our wholly-owned subsidiary Maxwell achieved a 21% quarter-on-quarter growth with total income of ₹ 56.5 crores as against ₹ 46.6 crores in the previous quarter.”

“Execution across our programmes is on track with supplies to Royal Enfield in Q2 and for Jaguar Land Rover in Q3 of this financial year”

“The SOP for the US client is expected in the second half of this financial year. We are also gearing up for the supply of solar actuators, and the SOP is expected in Q4 of this financial year.”

“At our Chakan die-casting plant, we are also expanding our 4W machined aluminium casting business for existing and new programmes of Tata Motors and Mahindra, with demand from these OEMs seeing a strong traction.”

“But to be honest, at this point, we don't see important reduction in volume, and we continue to grow compared to the previous financial year, as in the first quarter.”

“In the European Union, there are a lot of Chinese OEMs increasing their presence. Massimo told you about the growth of these OEMs in Europe. And right now, they are importing the powertrains from China.”

“As we close Q1 of FY 27, the business scenario presents a mixed picture with a steady domestic economy set against a more challenging global environment.”

“In the Indian automotive sector, as per SIAM, two-wheeler sales reached 7.18 million units in Q1 FY 27, up 23.6% year-on-year, with motorcycles at 19.3% growth and scooters at 32.7% growth.”

“EBITDA grew 17.1% from ₹ 305.61 crores to ₹ 357.78 crores with a margin at 11.2%. The PAT grew 17.4% from ₹ 165.82 crores to ₹ 194.62 crores.”

“The commodity increase led to our ‘RMC percentage to total income’ going up to 68.4% as compared to 64.8% in Q1 FY 26.”

“If we remove this non-value add commodity increase and then see EBITDA margin, it is at 13.33% as compared to our reported 11.2% in standalone financials.”

“Most purchase order amendments were not accounted in Q1 and will get effective in this quarter. So, the raw material base in Q1 has been considered mostly on the Q4 FY 26 raw material rate base.”

“As far as the aluminium alloys are concerned, which are 60% of our Q1 raw material purchase, we are seeing softening of the aluminium alloy rates in this quarter which will be a gain to us.”

“I would like to mention that in Q1 FY 27, the commodity increases in excess of ₹ 300 crores were paid upfront by Endurance, as most commodity increases come with a quarter lag. We still closed the quarter with a standalone net cash balance of ₹ 415.7 crores.”

“We have already started the ride modes, and now we are adding the traction controls for improved stability. This will help in sales value and margin growth in our ABS business.”

“we have started the SOP for 390 cc and 790 cc motorcycles of KTM in Q1 of this financial year. These include export orders served from our brakes plant in Waluj.”

“In the transmission segment, we have introduced our new technology, the assist and slip clutches from our Italian subsidiary Adler in the Indian market, with supplies to Royal Enfield and Kawasaki already started. For Bajaj Auto, SOP is expected in the next quarter.”

“The integration is 100% complete on the managerial and commercial side.”

“We are looking at production capacity available in the market and hope to reach an agreement by January 2027 for higher casting capacity.”

“We decided to depreciate 100% of the residual fixed assets linked to specific internal combustion engine projects that will phase out over the next 18 months.”

“In Europe, the industry continues as mentioned earlier to operate in a challenging environment shaped by the Middle East crisis, high energy costs and interest rates, duties imposed by USA, increased competition from Chinese OEMs, and muted automotive market growth.”

“In Q1 FY 27, it has been a challenging quarter due to the geopolitical situation. This has led to huge increase in commodity prices like aluminium, steel, copper, rubber, and oils and fuels including diesel, PNG, and LPG gases, as well as consumables such as cutting tools.”

“As you know, newspapers are reporting restructuring plans at OEMs like Mercedes and Volkswagen, and they also will close specific platforms because they want to close the plants.”

“So we are very focused on Endurance, but to answer your question, definitely the opportunities of getting orders has definitely come down.”

“In the market, if you see technically the German OEMs are not doing that well. Their exports to China and the sales have come down.”

“Our focus is on 2W proprietary products, 4W aluminium castings and forgings, and 4W proprietary products including suspension, braking, and driveshafts.”

“Under the Maharashtra Package Scheme of Incentives 2019, we had received an addendum taking our incentive up from ₹600 crores to ₹ 858 crores.”

“These incentives will be availed through the Industrial Promotion Subsidy by way of a state GST refund, broadly over a seven-year period.”

“During Q1 of FY 27, the company recorded a standalone total income of ₹ 3,194.15 crores, a year-on-year growth of 35.9% from ₹ 2,350.7 crores in the previous year.”

“In Q1 FY 27, our consolidated total income grew 29.6% over Q1 FY 26, from ₹ 3,354.53 crores to ₹ 4,348.28 crores. The EBITDA grew 18.7% from ₹ 479.51 crores to ₹ 569.21 crores, our margin was at 13.1%.”