Endurance Technologies Ltd. · NSE:ENDURANCE
Endurance Technologies — Q4 FY2026 Earnings Presentation
29 slides from Endurance Technologies's earnings presentation, May 14, 2026
Slide 1: Financial Results Presentation cover letter
ENDURANCE TECHNOLOGIES LIMITED 2nd Floor, Kumar Solitaire, S. No. 216B/218A/215A, Near Aga Khan Palace, Shastri Nagar, Nagar Road, Pune-411 006 (M.S.), India Tel: +91-20-68284200 Fax: +91-20-26680894 Website: www.endurancegroup.com CIN No. L34102MH1999PLC123296 14th May, 2026 BSE Limited, National S
Slide 2: Quarterly Results Presentation Q4FY26
Quarterly Results Presentation Q4FY26 14th May 2026
Slide 3: Cautionary Statement
The presentation may contain, without limitation, CAUTIONARY certain statements that could be considered forward- looking. Such forward-looking statements do not STATEMENT guarantee future performance; and may involve risks and uncertainties that could cause actual performance or results to be mater
Slide 4: Key Events - FY26
KEY EVENTS- FY26 Setting up AURIC Shendra project in Chh. Sambhajinagar, focused on Machined Castings for 4W and non-automotive. SOP expected by Q2FY27. Setting up lithium-ion Battery Pack plant in Pune. SOP expected in Q1FY27. Production commenced at the Alloy Wheel plant at AURIC Bidkin in Oct 202
Slide 5: Key Events - FY26
KEY EVENTS- FY26 Business won in FY26: Rs 1,596 Cr in India*, including Rs. 300 Cr for battery-pack and Rs. 56 Cr in Maxwell. Further, won business worth Euro 16 million in Europe. 96 total patents and 89 design registrations. Next-generation Suspension and Brakes R&D centres operational. Stake in M
Slide 6: Order Wins
Order Wins 5
Slide 7: Order Wins in Standalone Business
ORDER WINS IN STANDALONE BUSINESS (RUPEES CRORE) Last 5 years Orders Order Split last 5 years 4150* 3050 5323 730 2100 Replacement Orders 1442 1199 1205 1240 4593 Ramp Up of 471 745 935 New Orders 138 New Orders FY23 FY24 FY25 FY26 FY27 FY28 FY22 FY23 FY24 FY25 FY26 Total 4W and non-auto form 60% of
Slide 8: EV Orders in Standalone Business
EV ORDERS IN STANDALONE BUSINESS Excluding BAL & FY22 FY23* FY24 FY25 FY26 Total Rs 1,185 Cr (excluding Battery-Pack) Battery-Pack includes Rs 588 Cr for Castings, Rs 395 Cr for EV order value Rs. 78 Cr Rs. 258 Cr Rs. 59 Cr Rs. 440 Cr Rs. 350 Cr Brakes, Rs 123 Cr for Suspensions and Rs 31Cr for Allo
Slide 9: Order Wins in European Business
ORDER WINS IN EUROPEAN BUSINESS (EURO MILLION) 245 Last 5 years Orders 35 Replacement Orders 150* 135 126 96 84 74 210 65 New Ramp Up 40 Schedule 31 Orders 16 FY25 FY26 FY27 FY28 FY29 FY22 FY23 FY24 FY25 FY26 Total Owing to transition to EV/Hybrid in Europe, we expect reduction in future revenues fr
Slide 10: EV and Hybrid Share Increasing in Europe Business
EV AND HYBRID SHARE INCREASING IN EUROPE BUSINESS (EURO MILLION) Out of Euro 245 Mn of cumulative orders won in the last 5 years, Euro 95 Mn (39%) are for EV applications and Euro 111 Mn (45%) for Hybrid Applications 84 74 ICE end-use, currently at ~40% of Endurance Europe 11% revenues, is expected
Slide 11: Embedded Electronics & New Energy
EMBEDDED ELECTRONICS & NEW ENERGY Embedded Electronics New Energy- Battery Packs Continuing large volume business for our AVA BMS. LoI for battery pack of e-2W model of a large Entered SOP with another leading OEM for OEM with peak annual sale of Rs 300 Cr. Motorcycle BMS. Won Rs 56 Cr orders in FY2
Slide 12: Q4 Industry Data & ETL Financials
Q4 Industry Data & ETL Financials 11
Slide 13: India Industry Factors Impacting Q4 Results
INDIA INDUSTRY FACTORS IMPACTING Q4 RESULTS % change ETL TI – Indian Vehicle Sales ETL TI YoY from Q4 Q4 FY26 Q4 FY25 % Change Change from (in Mn) change FY19 Q4 FY19 Total 2W 7.15 5.70 25.4% 33.8% 32.0% 138.4% Motorcycles 4.58 3.82 19.8% 32.4% 22.4% 116.4% Scooters 2.43 1.77 37.1% 42.2% 66.6% 459.2
Slide 14: Europe Macro/Industry Factors Impacting Q4 Results
EUROPE MACRO/INDUSTRY FACTORS IMPACTING Q4 RESULTS EU new Car registration % Change from Q4 FY26 Q4 FY25 % Change (in 000) Q4 FY20 France 402 410 -2.1% 10.1% Germany 699 665 5.2% -0.3% Italy 485 444 9.2% 39.5% Spain 301 279 7.6% 37.4% Others 937 917 2.1% 10.4% Total EU 2,823 2,715 4.0% 13.8% Source:
Slide 15: Q4 Total Income
Q4 TOTAL INCOME (RUPEES CRORE) Standalone Europe Consolidated Maxwell 1138 4116 2975 47 2269 2998 728 21 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 56.3% YOY growth in INR terms. 31.1% YOY growth. Industry 2W Key customer recorded healthy YOY growth of 37.3% sales growth of 25.3%. 33.6%
Slide 16: Q4 EBITDA
Q4 EBITDA (RUPEES CRORE) YoY: 13.7% YoY: 30.8% 326 Consolidated Standalone 371 457 598 14.4% 12.5% Margin drop of 190bps includes 110bps 15.2% 14.5% due to lower incentive recording, 40bps due to higher metal prices. Also new plant ramp-up and inflation pass-on lag. Q4FY25 Q4FY26 Q4FY25 Q4FY26 YoY:
Slide 17: Q4 PAT
Q4 PAT (RUPEES CRORE) YoY: 20.5% Consolidated YoY: 12.8% Standalone 174 210 245 276 7.7% 7.1% Consolidation adjustments relating to 8.2% residual stake purchase in Maxwell had 6.7% a favourable PAT impact in Q4FY25 Q4FY25 Q4FY26 Q4FY25 Q4FY26 YoY: 66.1% Europe 72 43 6.4% 5.9% Maxwell Q4FY26 PAT Rs.
Slide 18: FY26 Industry Data & ETL Financials
FY26 Industry Data & ETL Financials 17
Slide 19: India Industry Factors Impacting FY26 Results
INDIA INDUSTRY FACTORS IMPACTING FY26 RESULTS ETL TI – Indian Vehicle Sales ETL TI YoY % change FY26 FY25 % Change Change from (in Mn) change from FY19 FY19 Total 2W 26.89 23.81 12.9% 19.4% 9.9% 106.1% Motorcycles 17.54 15.87 10.5% 19.6% 6.5% 93.5% Scooters 8.80 7.42 18.6% 18.7% 24.0% 237.9% 3W 1.30
Slide 20: Europe Macro/Industry Factors Impacting FY26 Results
EUROPE MACRO/INDUSTRY FACTORS IMPACTING FY26 RESULTS EU new Car registration % Change from FY26 FY25 % Change (in 000) FY20 France 1624 1684 -3.6% -19.8% Germany 2892 2787 3.8% -15.6% Italy 1565 1551 1.0% -9.3% Spain 1170 1052 11.2% 0.8% Others 3679 3504 5.0% -4.1% Total EU 10,930 10,577 3.3% -10.2%
Slide 21: FY26 Total Income
FY26 TOTAL INCOME (RUPEES CRORE) Standalone Europe Maxwell Consolidated 161 14720 10696 4012 8913 11678 2758 70 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 45.5% YOY growth in INR terms. 20.0% YOY growth. Industry 2W Sharp YoY growth, as key customer YOY growth of 26.1% sales growth of 12.9%. 28.9% grow
Slide 22: FY26 EBITDA
FY26 EBITDA (RUPEES CRORE) YoY: 11.0% YoY: 25.3% Consolidated Standalone 1218 1351 1668 2090 13.7% 14.3% 14.2% 12.6% FY25 FY26 FY25 FY26 YoY: 59.8% Europe 741 464 Maxwell FY26 EBITDA Rs. 1Cr vs FY25 Rs. (-) 7Cr. 18.5% 16.8% FY25 FY26 21
Slide 23: FY26 PAT
FY26 PAT (RUPEES CRORE) YoY: 8.1% Consolidated YoY: 13.8% Standalone 679 734 836 952 7.6% 6.9% 7.2% 6.5% FY25 FY26 FY25 FY26 YoY: 52.8% Europe 148 226 Maxwell FY26 PAT Rs. (-) 10Cr vs 5.6% 5.4% FY25 Rs. (-) 17Cr. FY25 FY26 22
Slide 24: Consolidated Total Income
CONSOLIDATED TOTAL INCOME By Entity By Products By Vehicles Transmission After Market 3.4% Others Maxwell 4.6% Others 2.3% Europe 1.1% 2.0% 27.3% Alloy Wheel 4 Wheeler 7.2% 29.0% Suspension India 24.7% Disc Brake FY’26 FY’26 71.6% 11.5% FY’26 3 Wheeler Motorcycle 8.0% Die Casting 52.1% 46.6% Scooter
Slide 25: Standalone Total Income
STANDALONE TOTAL INCOME By Products By Vehicle Type Transmission 4 Wheeler 5.6% Others After Market 4.0% 3 Wheeler 1.7% 5.4% Others 11.0% 2.7% Alloy Wheel 9.9% Scooter Motorcycle Suspension 11.7% FY’26 70.0% 33.9% FY’26 Disc Brake 15.9% Die Casting 28.2% 4 Wheeler Transmission 5.9% Others 3 Wheeler
Slide 26: FY26 - Capex
FY26- CAPEX Expansion Capex and Dies account for >80% of total capex. Standalone: Includes additional land bank, capacity addition in brake assemblies, Rs. 828 Cr. al. alloy wheels, al. casting and machining and new battery pack plant Europe: Includes production capacity expansion to cater to new or
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Slide 28: Summary Financials
Summary Financials (RUPEES CRORE) FY25 FY26 Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Total Income ETL-Standalone 2,135 2,317 2,192 2,269 8,913 2,351 2,692 2,678 2,975 10,696 Maxwell 3 19 26 21 70 31 44 40 47 161 Europe 721 617 692 728 2,758 1,002 908 965 1,138 4,012 Consolidated Adjustments - -15
Slide 29: Key Customers
KEY CUSTOMERS Share in Total Income FY26 FY25 Bajaj auto Ltd 35.0% 38.0% Honda MC & Scooters 8.5% 9.1% VW-Audi-Porsche 7.8% 8.9% Mercedes 7.4% 2.6% Royal Enfield India 6.0% 5.7% Stellantis 5.2% 5.5% Hero Motorcorp 4.0% 3.5% India Yamaha Motors 3.0% 3.7% TVS Motors 2.7% 2.6% Hyundai/ Kia 1.4% 1.7% Ta
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