Endurance Technologies Ltd. · NSE:ENDURANCE
Endurance Technologies — Investor Presentation (June 2024)
31 slides from Endurance Technologies's investor presentation, Jun 3, 2024
Slide 1: Corporate Presentation 03rd June 2024
Corporate Presentation 03rd June 2024
Slide 2: Forward-looking statements disclaimer
The presentation may contain, without limitation, certain statements that could be considered forward- looking. Such forward-looking statements do not guarantee future performance; and may involve risks and uncertainties that could cause actual performance or results to be materially different from
Slide 3: Commenced operations in 1985; largest aluminium die-casting player in India
Commenced operations in 1985(1) Largest aluminium die-casting player in India(2) Largest 2W/3W auto-comp company in India(3) Leader in Suspension, Braking , Transmission Presence in Advanced Electronics through Maxwell Leading 4W aluminium die casting player in Europe Financial Strength: Profitabili
Slide 4: Strategy: technology leader, 4W, EV and hybrid
Technology Leader Four Wheelers (4W) • Introduce high-end technologies for • Reach 45% of Consolidated Turnover in FY30 premium segment. from 26% in FY24 • Expand premium offerings to mid and • Ensure continued growth of our profitable low segment. European operations serving marquee OEMs • Ensure c
Slide 5: Endurance Technologies Ltd. (ETL) group structure
Promoter Group - 75% Endurance Technologies Ltd. Aluminium Castings, Suspension, (ETL) Transmission and Braking Systems Public- 25% 95% Wholly Owned Maxwell Energy Systems Endurance Overseas Srl Endurance GmbH 5% Private Limited (MESPL), India (EOSrl, Turin, Italy) (Massenbachhausen, Germany) Embedd
Slide 6: Plants in multiple locations across India, Europe and Africa
32 plants in multiple Locations across India, Europe and Africa Pantnagar R&D Facilities 2 Sanand and Halol Massenbachhausen, Germany Plants 2 3 Test Track Chh Shambhajinagar 9 2 Technical 4 Pune Centre 1 3 Kolar Hammas Sousse, Tunisia 1 1 Grugliasco (1) Italy Chivasso (2) Chennai 9 Lombardore (1) 2
Slide 7: Company journey and milestones
Endurance Veicoli Adler Maxwell, IPO- public 17.5%. Endurance Frenotecnica, Newfren Full exit to PE. Castings SpA Partial promoter dilution FY22 FY25 FY21 FY23 FY19 FY17 EESrl Ingenia Automation Srl FY14 OFS- Public 25%. SCPE stake acquired Further promoter dilution by Actis EOSrl Indian operations
Slide 8: Facility and collaboration timeline FY82-FY09
Chennai-Casting R&D Facility: Casting Pantnagar- Casting, Suspension, Transmission B22 Pune- FY08 FY09 Casting, Machining FY07 Collaboration with KTM- Inverted Front Forks, Monoshox B1/2, 1/3 Pune Casting, Machining L6/3 A’bad- Casting, Machining R&D Facility- Braking K226/2 A’bad- Braking, FY06 R&D
Slide 9: Facility and collaboration timeline FY12-FY24
L6/3 A’bad- Driveshaft A12 Pune- Alloy Wheels (Brownfield) L6/3 A’bad- K226/2 A’bad- ABS (Brownfield) Electronics SMT line E 71 A’bad- Braking FY23 FY24 FY22 R& D facility: Driveshaft Vallam- Casting Kolar- Suspension FY21 FY20 Halol- Suspension FGM Collaboration- FY19 AI. Forgings Sanand- Casting,
Slide 10: Endurance Proving Ground
T7 T8 T1 High Speed Performance Track T3 T5 T2 Ride and Evaluation Track T3 ABS and Evaluation Track T1 B1 T4 Handling Track T2 T4 T5 Gradient Track T6 Steering pad T6 T7 Mud, Water trough and Dust Tunnel T8 Country Track B1 Admin Building, Control Tower & Workshop EPG enables us to test our product
Slide 11: QCDDM focus leading to customer satisfaction
Structured product development to get "first time right" products Develop Focus on developing Facilities (including Proving innovative, lean and cost ground) for material, competitive designs to component, product and maintain a technological edge Testing & Design vehicle level testing across produc
Slide 12: Legacy, recently added and future products
FUTURE RECENTLY ADDED PRODUCTS PRODUCTS LEGACY PRODUCTS Electronic Suspension for 200cc+ motorcycles 2W ABS Modulator Aluminium Die-castings Embedded Electronic products 2W Aluminium 2W - 2 & 3 Pot Brake BMS Caliper Assembly 3W Driveshaft Alloy Wheels APTC (Assist & Slip) Transmission for 200cc+ mot
Slide 13: Products for 2W, 3W and 4W OEMs
Endurance supplies a diverse range of technology-intensive products to 2W / 3W / 4W OEMs 2 WHEELERS 3 WHEELERS Front Forks Master Cylinder Clutch Cylinder Hydraulic Shock Drum Brake Drum Brake Cylinder Head Block Absorbers Assembly BMS Shock Absorbers Clutch Tandem Master Drive Shaft BMS Assembly Cy
Slide 14: Castings part of OEMs' light-weighting and Hybrid/EV plans
Endurance is a Tier 1 Supplier for multiple technology intensive products to 4W OEMs STRUCTURAL AND BODY PARTS ENGINE PARTS Steel Wheel Hub Head Axle Cam Carrier Specialty Plastic Cover Exhaust Manifold Cross Member Steering Housing EGR Plastic Pipe Oil Pan Various Brackets EV PARTS TRANSMISSION PAR
Slide 15: Presence in 2W technology products and aftermarket
Endurance is building a strong presence in technology intensive products for 2W, particularly for the Aftermarket BRAKE SYSTEM PARTS TRANSMISSION & FRICTION PARTS Brake Discs Drum Clutch, Gear & Friction Plates Gear Brake Pads Steering Housing Clutch Actuator Torque Limiter 15
Slide 16: Product line: ICE and EV-focused products
In India, based on current indications, it is believed that EV penetration in scooters and 3W would be ~75% by 2030 and much lower in motorcycles, at around 10-15%. In Europe, the transition to EV in high-end vehicles, and to Hybrid in mass segment is seen as fairly fast-paced. % of Consol Product L
Slide 17: Market share and leadership positions
56% 41% India 41% 37% Market share based on internal estimates of 2W market size in India (for our product 13% categories) and quantity of parts sold by ETL in FY24 Front Fork Rear Shox Disc Brake Brake Discs Clutches Systems(1) (1) (2) (1) Percentage calculated on estimated 2W production in India,
Slide 18: Outperformance versus industry growth
Endurance has consistently outperformed growth in the broader industry by successfully expanding its customer base, focus on R&D, ability to manage costs and reducing new product development time. India Production (‘000s) Motorcycles Scooter Moped 2W Industry 3W Industry FY14 12,464 3,697 730 16,891
Slide 19: Track record of ahead of industry growth
PAT and PAT Margin(2) (Before Minority Interest) Total Revenue (INR mn) EBITDA and EBITDA Margin (INR mn / %) (INR mn / %) CAGR FY17-24: 8.01% 13.1% 14.6% 15.3% 16.9% 16.3% 13.2% 12.2% 13.7% 5.9% 6.1% 6.6% 8.1% 7.9% 6.1% 5.4% 6.6% CAGR FY17-24: 8.7% CAGR FY17-24: 10.9% 14,136 1,03,265 11,784 10,057
Slide 20: Expansion strategy: high-end casting products
Focus on High-end Casting Products Focus on profitable growth • Long-standing relationships with renowned PV/CV High margin products OEMs. Engine Cover / cam carrier Suspension and Body Hub Transmission • Large orders in Expansion Clutch Housing EV/hybrid Strategy Marquee customers • Sole supplier s
Slide 21: Aftermarket sales from India
Aftermarket Sales from India 2001 (Net Revenue from Operations INR mn) Higher Margin 5.5% 5.3%* 5.3%* 4.7% Established B2C Business Model 4.3% 3.7% 3.6% Aftermarket Business KEY 4609 4189 4311 HIGHLIGHTS Branding 34 3.8% Program for increasing retailers / mechanics 3116 2707 2977 contact & loyalty t
Slide 22: Profitable, Sustainable, Faster-than-Industry Growth
Operations Technology/R&D • Operational Excellence • Technological Leadership • Winning new orders • Product Development with focus • Supply Chain Management on cost, durability & performance • Customer Centricity • Innovation • Quality • Delivery performance leading to Governance Profitable, People
Slide 23: Delivering a larger impact by living the values
Delivering a Larger impact Achieving ETL’s goals by living the values SERVICE Integrity & Transparency Honesty, accountability, work ethic, clarity, INTERNAL COHESION communication, openness, trust Innovation Value Creation & continuous improvement TRANSFORMATION Customer Centricity Result orientati
Slide 24: Management of change, culture and diversity
MANAGEMENT OF CHANGE CULTURE Prioritization of human life & environment in decisions Proactive, hardworking, result-oriented, Certification from EHS team for all material/ design/ passionate, committed team players layout changes, expansions, greenfield/ brown field who lead by example, believe in p
Slide 25: Driving carbon neutrality and zero waste to landfill
DRIVING CARBON NEUTRALITY DRIVING ZERO WASTE TO LANDFILL & » Effective utilization of natural resources. HAZARDOUS WASTE REDUCTION » Creating carbon sinks by developing dense forests and driving plantation. » Reduced hazardous waste generation by » Transitioning to renewable energy with wind switchi
Slide 26: GRI Parameters for India business
GRI Parameters for Unit FY24 Achievement India business Carbon neutrality* % 35 Specific electrical energy consumption Reduction in GJ/ INR Sales 3.9% Specific thermal energy consumption Reduction in GJ/ INR Sales 11.5% Specific water footprint reduction Reduction in kL/INR Sales 10.7% Waste water r
Slide 27: Community: education, healthcare, environment, livelihood
HEALTHCARE & EDUCATION ENVIRONMENT LIVELIHOOD SANITATION Deepened 79 kms of natural canals, Renovated 51 schools with new Organized health camps in 42 Trained 1700+ individuals at creating water capacity of 42.05 Cr. toilets for boys and girls. villages – treated 13956 villagers. ECOVE with 74% plac
Slide 28: Awards and recognition
Gold category Award in the India Manufacturing Excellence Awards 2019 Supplier Quality by ‘Frost & Sullivan’ Excellence Award 2019 from General Motors. Recognized amongst India’s Persisting Affiliation Award from Piaggio 2024 “Best Managed Companies- 2022” by Deloitte. Awarded the ‘Most Innovative,
Slide 29: Innovatively Agile
INNOVATIV! PLY AGIL!
Slide 30: Appendix A: India entities
Incorporated High Technology Transmission Incorporated Endurance Systems Systems (India) Private Limited – HTTS, a JV (India) Private Limited. (ESIPL with Adler S.p.A., Italy for clutch assemblies merged with ETL in FY10) and CVTs. (merged with ETL in FY14) ESIPL HTTS FY95 FY02 FY82 FY97 FY23 ESSIPL
Slide 31: Appendix B: Overseas entities
Incorporated Endurance EOSrl acquired 15% & Assets & liabilities of Grana EOSrl acquired 99%, and EOSrl acquired 100% EOSrl acquired 100% Overseas Srl (EOSrl) Italy, later full stake in FOA Srl, Italy acquired by later full stake in Adler SpA, stake in Veicoli Srl, stake in Ingenia an SPV for strate
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