Endurance Technologies
Endurance Technologies
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Key Insights
Strengths
2- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 17.1%
Growth Rate
AI Analysis — Bull vs Bear
Endurance Technologies has a market cap of about ₹37,422 Cr and trades at a P/E of 38.6x and a P/B of 5.47x. Its 3-year revenue CAGR is 18% and its 3-year profit CAGR is 26%. TTM sales growth of 29% is well ahead of TTM profit growth of 16%. Return on equity has stayed in a 13-15% range over 3, 5 and 10 years, and the stock is down 3% over the past year after an 18% CAGR over three years.
- Revenue growth has sped up. TTM compounded sales growth is 29%, compared with 18% over 3 years, 17% over 5 years and 11% over 10 years.
- Profit has grown fast over the medium term. The 3-year compounded profit CAGR is 26%, ahead of the 18% 3-year sales CAGR over the same period, which points to operating leverage.
- Return on equity has been steady across cycles: 15% last year, 14% over 3 years, 13% over 5 years and 15% over 10 years.
- Shareholders have seen a 3-year stock CAGR of 18%, roughly in line with the 18% 3-year sales CAGR.
- The company has kept a dividend payout of about 17.1%. That returns some cash to shareholders while leaving most earnings for reinvestment in capacity and new products.
- Sales have grown 17% a year over 5 years, which suggests the company is winning business across auto component categories beyond general industry volume growth.
- Near-term expectations are positive. The company is expected to report a good quarter, which could extend the 29% TTM sales momentum.
- The valuation is demanding. A P/E of 38.6x implies an earnings yield of about 2.6%, which leaves little room for error if growth slows.
- Profit is lagging sales. TTM profit grew 16% while TTM sales grew 29%, which suggests margin pressure from input costs, product mix or lower-margin new business.
- The P/B of 5.47x is rich next to a return on equity of 13-15%. It implies the market expects returns on capital to improve beyond the historical range.
- Long-term profit growth is modest. The 5-year and 10-year profit CAGRs are both 12%, well below the recent 3-year figure of 26%, so part of the recent growth may be a cyclical recovery.
- The stock has returned -3% over 1 year despite 29% TTM sales growth. Its 5-year CAGR of 11% is also below the 17% 5-year sales CAGR, which shows a history of valuation de-rating phases.
- The dividend yield is low at 0.43%, so shareholder returns depend mostly on price appreciation rather than income.
- As an auto component supplier with a market cap of about ₹37,422 Cr, the company's earnings are tied to two-wheeler and auto production cycles. It also depends heavily on a small number of OEM customers, which exposes it to volume slowdowns and pricing pressure.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Full Stöferle ownership secured early Sep 29
Subsidiary Endurance Overseas SpA bought the remaining 32% stake in the Stöferle entities for €18 million. This takes ownership to 100% ahead of schedule and gives Endurance full control of the European business.
- Auric Shendra die-casting plant live Sep 25
Production has started at the Auric Shendra plant, which makes aluminium die-casting parts for automotive and non-automotive customers. Capacity starts at 900 MT per month and can be expanded to 1,100 MT per month.
- New Head of Growth appointed Sep 10
Aditya Jhavar joins as Head – Growth and Business Transformation from September 14, 2026. The President-grade role reports directly to the Managing Director.
- Pictet one-on-one meeting Sep 15
Endurance will host a one-on-one meeting with Pictet Asset Management on September 18, 2026, at its Chh. Sambhajnagar facility. Senior management will present corporate updates, and no new financial disclosures are expected.
TL;DR: The September news flow was positive. Endurance completed the €18 million buyout of the last 32% of Stöferle, started production at its 900 MT-per-month Auric Shendra plant (expandable to 1,100 MT), and hired a President-grade growth leader. None of these articles reported a direct headwind, but they also say nothing about demand, margins or input costs, so risks like aluminium prices and two-wheeler volumes still need to be tracked separately. The trend looks like it's improving, and the next things to watch are how fast Shendra ramps up and how much the fully owned Stöferle adds to consolidated earnings.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,450 | 2,545 | 2,561 | 2,685 | 2,826 | 2,913 | 2,859 | 2,963 | 3,319 | 3,583 | 3,608 | 4,086 | 4,315 |
| Expenses | 2,129 | 2,227 | 2,262 | 2,295 | 2,451 | 2,531 | 2,487 | 2,541 | 2,875 | 3,106 | 3,131 | 3,518 | 3,779 |
| Operating Profit | 321 | 318 | 299 | 389 | 374 | 382 | 373 | 422 | 444 | 477 | 477 | 568 | 536 |
| OPM % | 13% | 13% | 12% | 14% | 13% | 13% | 13% | 14% | 13% | 13% | 13% | 14% | 12% |
| Other Income | 17 | 16 | 27 | 27 | 34 | 27 | 22 | 47 | 36 | 21 | 16 | 30 | 33 |
| Interest | 9 | 10 | 11 | 13 | 11 | 12 | 12 | 12 | 14 | 14 | 15 | 15 | 17 |
| Depreciation | 113 | 118 | 114 | 128 | 129 | 131 | 136 | 142 | 164 | 180 | 178 | 212 | 222 |
| PBT | 216 | 206 | 201 | 275 | 268 | 266 | 247 | 314 | 302 | 304 | 301 | 371 | 330 |
| Tax % | 24% | 25% | 24% | 24% | 24% | 24% | 25% | 22% | 25% | 25% | 26% | 25% | 26% |
| Net Profit | 164 | 155 | 152 | 210 | 204 | 203 | 184 | 245 | 226 | 227 | 222 | 276 | 245 |
| EPS in Rs | 11.62 | 10.99 | 10.83 | 14.94 | 14.49 | 14.43 | 13.11 | 17.43 | 16.09 | 16.16 | 15.76 | 19.65 | 17.38 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,917 | 5,228 | 5,588 | 6,349 | 7,509 | 6,915 | 6,547 | 7,549 | 8,804 | 10,241 | 11,561 | 14,596 | 15,592 |
| Expenses | 4,321 | 4,548 | 4,830 | 5,421 | 6,380 | 5,784 | 5,507 | 6,585 | 7,768 | 8,913 | 10,010 | 12,630 | 13,534 |
| Operating Profit | 596 | 680 | 758 | 928 | 1,129 | 1,131 | 1,040 | 965 | 1,036 | 1,328 | 1,551 | 1,966 | 2,058 |
| OPM % | 12% | 13% | 14% | 15% | 15% | 16% | 16% | 13% | 12% | 13% | 13% | 13% | 13% |
| Other Income | 42 | 33 | 29 | -3 | 6 | 48 | 19 | 10 | 35 | 86 | 129 | 103 | 101 |
| Interest | 51 | 49 | 32 | 24 | 26 | 18 | 14 | 6 | 21 | 43 | 47 | 57 | 61 |
| Depreciation | 227 | 243 | 291 | 322 | 376 | 414 | 399 | 382 | 422 | 474 | 539 | 734 | 792 |
| PBT | 359 | 420 | 465 | 579 | 733 | 747 | 647 | 586 | 629 | 897 | 1,095 | 1,277 | 1,306 |
| Tax % | 29% | 29% | 29% | 33% | 32% | 24% | 20% | 21% | 24% | 24% | 24% | 25% | — |
| Net Profit | 254 | 300 | 330 | 391 | 495 | 566 | 520 | 461 | 480 | 680 | 836 | 952 | 970 |
| EPS in Rs | 57.42 | 68.1 | 23.48 | 27.78 | 35.19 | 40.2 | 36.95 | 32.75 | 34.09 | 48.38 | 59.46 | 67.66 | 68.95 |
| Div. Payout % | 5% | 4% | 11% | 14% | 16% | 14% | 16% | 19% | 21% | 18% | 17% | 17% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 141 | 141 | 141 | 141 | 141 | 141 | 141 | 141 | 141 | 141 |
| Reserves | 1,124 | 1,432 | 1,589 | 2,032 | 2,424 | 2,865 | 3,421 | 3,779 | 4,271 | 4,837 | 5,577 | 6,700 |
| Borrowings | 764 | 831 | 694 | 814 | 730 | 750 | 641 | 430 | 515 | 765 | 944 | 1,327 |
| Other Liabilities | 879 | 1,000 | 1,087 | 1,353 | 1,475 | 1,306 | 1,544 | 1,507 | 1,875 | 2,128 | 2,465 | 3,444 |
| Total Liabilities | 2,784 | 3,281 | 3,510 | 4,340 | 4,770 | 5,062 | 5,747 | 5,857 | 6,802 | 7,871 | 9,126 | 11,611 |
| Fixed Assets | 1,453 | 1,587 | 1,634 | 1,851 | 2,163 | 2,606 | 2,603 | 2,715 | 3,143 | 3,630 | 4,058 | 5,701 |
| CWIP | 22 | 103 | 44 | 59 | 118 | 126 | 96 | 119 | 171 | 159 | 293 | 488 |
| Investments | 1 | 48 | 33 | 46 | 36 | 166 | 444 | 487 | 672 | 793 | 804 | 1,031 |
| Other Assets | 1,309 | 1,542 | 1,800 | 2,383 | 2,453 | 2,164 | 2,604 | 2,536 | 2,816 | 3,289 | 3,971 | 4,392 |
| Total Assets | 2,784 | 3,281 | 3,510 | 4,340 | 4,770 | 5,062 | 5,747 | 5,857 | 6,802 | 7,871 | 9,126 | 11,611 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 413 | 698 | 537 | 742 | 898 | 1,011 | 621 | 742 | 862 | 1,057 | 1,532 | 1,851 |
| Investing | -289 | -509 | -361 | -436 | -696 | -671 | -586 | -550 | -905 | -945 | -988 | -1,781 |
| Financing | -139 | -114 | -122 | -24 | -167 | -258 | -143 | -302 | -72 | 105 | -29 | -214 |
| Net Cash Flow | -14 | 76 | 54 | 283 | 35 | 83 | -108 | -111 | -115 | 217 | 514 | -144 |
| Free Cash Flow | 113 | 230 | 157 | 316 | 221 | 464 | 310 | 222 | 240 | 237 | 525 | 595 |
| CFO/OP | 88 | 118 | 88 | 103 | 100 | 109 | 76 | 93 | 101 | 96 | 113 | 109 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 43 | 41 | 50 | 56 | 45 | 36 | 58 | 47 | 48 | 45 | 45 | 46 |
| Inventory Days | 47 | 48 | 50 | 49 | 45 | 54 | 62 | 58 | 56 | 52 | 52 | 50 |
| Days Payable | 82 | 87 | 98 | 113 | 98 | 104 | 130 | 102 | 97 | 96 | 99 | 102 |
| Cash Conversion Cycle | 9 | 3 | 2 | -8 | -8 | -15 | -10 | 2 | 7 | 1 | -2 | -6 |
| Working Capital Days | 20 | -17 | -3 | -9 | -9 | -11 | 13 | 15 | 14 | 10 | 3 | 0 |
| ROCE % | 22% | 22% | 21% | 23% | 25% | 21% | 17% | 14% | 14% | 17% | 17% | 18% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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63 extracted metrics + investor summaries across FY06–FY27.
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Company Information
Endurance Technologies is engaged in the business of manufacturing and selling of aluminium die casting (including alloy wheel), suspension, transmission, braking and embedded electronic products with operations spread across India and Europe with 19 plants in India and 14 in Europe.
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