Future growth expectations in sales/revenue/volumes?

India 2W sales grew 18.2% YoY in Q3 FY26, indicating robust domestic demand. EV sales in India grew 65.6% in 9 months FY26 with a 4-year CAGR of 71%, outpacing industry CAGR of 21%. New order wins in India stand strong at ₹1,282.8 crores per annum in 9 months FY26, indicating a healthy pipeline. Increased product premiumization and shift to higher cc vehicles present growth in premium offerings. Orders worth ₹530 crores in 4W and non-automotive segments reflect diversified growth. European operations face short-term challenges but remain optimistic with 4.2% volume growth (excluding Stöferle)

Future growth expectations in earnings/operating earnings/profits/EPS?

Endurance Technologies expects positive growth in Europe, despite current market difficulties and regulatory uncertainties, emphasizing a solution-oriented approach to challenges. The European business, including the recent Stöferle acquisition, shows profitability and secured volumes until 2030-2032, supporting stable earnings growth. In India, growth is driven by premiumization in two-wheelers, solar damper exports, and expansion in aluminum forging business with new plants coming online by FY27, contributing to profitable growth. CAPEX focus is on profitable growth products, automatio

Current/ Expected Orderbook/ Pending Orders?

The total business won per annum is ₹388 crores, with the peak value expected in FY29. Currently, new orders continue to come in from this quarter onwards, to be reported in the next meeting. Total orders won till now in products excluding energy and electronics since FY22 stand at ₹5,021 crores, with ₹4,291 crores being new business. There is ₹4,200 crores worth of requests for quotes pending. The company expects to win more than ₹1,500 crores of business in the next 12 to 18 months. In Europe, order inflow is slower, with €15 million booked in the first 9 months of FY26. The Sanand expansion

Any current/future new fundraising through debt or equity?

No specific mention of any current or future fundraising through debt or equity in the provided transcript. The company continues to make acquisitions, such as the 60% stake acquisition in Stöferle for €38 million, funded while remaining net debt-free. Capex plans are being managed carefully, with investments mainly below ₹50 crores for expansions like Sanand and Aluminium Forging plants. Management emphasized controlling CAPEX especially in India and focusing on profitable growth rather than aggressive financing. The company increased investments through internal accruals and maintained a str

Any current/future capex/capital investment/strategic investment?

Sanand expansion and Aluminium Forging at AURIC, Bidkin planned, with CAPEX below ₹50 crores each, commissioning in Q1 and Q2 FY27. FY26 CAPEX in India expected slightly less than ₹800 crores, focus on automation, environmental compliance, quality improvement, and profitable growth. Europe CAPEX: €38 million spent on Stöferle acquisition; additional €38 million on ongoing business and new investments; expected stabilization at €25-30 million in next financial year. New Aluminum forging press at Waluj plant to meet demand, with the new plant operational by Q2 FY27. Solar dampers plant i

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Endurance Technologies LtdQ4 FY27Auto Components

Endurance Technologies Ltd Q4 FY27 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹2,622P/E: 37.1Market Cap: ₹35.8K CrSector: Auto Components

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

N/A

Order

Yes

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

→India 2W sales grew 18.2% YoY in Q3 FY26, indicating robust domestic demand.
→EV sales in India grew 65.6% in 9 months FY26 with a 4-year CAGR of 71%, outpacing industry CAGR of 21%.
→New order wins in India stand strong at ₹1,282.8 crores per annum in 9 months FY26, indicating a healthy pipeline.
→Increased product premiumization and shift to higher cc vehicles present growth in premium offerings.
→Orders worth ₹530 crores in 4W and non-automotive segments reflect diversified growth.
→European operations face short-term challenges but remain optimistic with 4.2% volume growth (excluding Stöferle) and a 27.2% consolidated growth YTD including acquisitions.
→New plants and product lines planned (Sanand solar dampers, Aluminium forging expansion) signal capacity expansion.
→Long-term M&A focus in higher-margin non-automotive and auto segments expected to drive growth.
→Outlook remains positive with emphasis on innovative, premium and EV product segments.

Margin guidance

Category 3

→Endurance Technologies expects positive growth in Europe, despite current market difficulties and regulatory uncertainties, emphasizing a solution-oriented approach to challenges.
→The European business, including the recent Stöferle acquisition, shows profitability and secured volumes until 2030-2032, supporting stable earnings growth.
→In India, growth is driven by premiumization in two-wheelers, solar damper exports, and expansion in aluminum forging business with new plants coming online by FY27, contributing to profitable growth.
→CAPEX focus is on profitable growth products, automation, and quality improvement with controlled spending, aiming to improve ROCE and margins.
→ABS regulation clarity expected by end of current quarter could substantially increase brake system business and margins.
→Overall Q3 FY26 consolidated PAT grew 20.2% YoY; optimism remains for sustained earnings growth driven by new business wins, improved product mix, and operational efficiencies.

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Fundraise plans

→No specific mention of any current or future fundraising through debt or equity in the provided transcript.
→The company continues to make acquisitions, such as the 60% stake acquisition in Stöferle for €38 million, funded while remaining net debt-free.
→Capex plans are being managed carefully, with investments mainly below ₹50 crores for expansions like Sanand and Aluminium Forging plants.
→Management emphasized controlling CAPEX especially in India and focusing on profitable growth rather than aggressive financing.
→The company increased investments through internal accruals and maintained a strong net cash position despite acquisitions and capex.
→No announcement or discussion about raising new funds via debt or equity in the near term.

Order book

Yes

→The total business won per annum is ₹388 crores, with the peak value expected in FY29.
→Currently, new orders continue to come in from this quarter onwards, to be reported in the next meeting.
→Total orders won till now in products excluding energy and electronics since FY22 stand at ₹5,021 crores, with ₹4,291 crores being new business.
→There is ₹4,200 crores worth of requests for quotes pending.
→The company expects to win more than ₹1,500 crores of business in the next 12 to 18 months.
→In Europe, order inflow is slower, with €15 million booked in the first 9 months of FY26.
→The Sanand expansion and Aluminum Forging at AURIC, Bidkin, are incoming CAPEX projects commissioning soon, expected to generate additional business.

Capex plans

Yes

→Sanand expansion and Aluminium Forging at AURIC, Bidkin planned, with CAPEX below ₹50 crores each, commissioning in Q1 and Q2 FY27.
→FY26 CAPEX in India expected slightly less than ₹800 crores, focus on automation, environmental compliance, quality improvement, and profitable growth.
→Europe CAPEX: €38 million spent on Stöferle acquisition; additional €38 million on ongoing business and new investments; expected stabilization at €25-30 million in next financial year.
→New Aluminum forging press at Waluj plant to meet demand, with the new plant operational by Q2 FY27.
→Solar dampers plant in Sanand nearing completion; SOP expected April 2026.
→Chennai plant for disc brake systems under construction; SOP planned for Q2 FY27 with capacity of 3 million disc brake systems and 4 million brake discs annually.
→CAPEX focused on high-margin, profitable growth products and expanding manufacturing capabilities both in India and Europe.

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