ENDURANCE TECHNO. LTD.

Supplies aluminium die-castings, braking systems, inverted front forks, driveshafts and lithium-ion battery packs to automotive OEMs. In India, the standalone business earned total income of ₹10,696 crore in FY26 and serves two-wheeler OEMs (Bajaj, Honda, Royal Enfield, TVS) with ABS units, front forks and driveshafts; of ₹1,596 crore in India order wins during FY26, ₹743 crore came from 4W and non-auto customers, with 4W now around 6% of revenue and targeted to reach 10%. Four greenfield facilities are ramping: AURIC Bidkin aluminium wheel plant (~₹600 crore peak annual sales by Q3/Q4 FY27), AURIC Shendra for 4W EV castings with ₹513 crore peak annual orders from a US EV OEM, JLR, Valeo and Yazaki, a lithium-ion battery pack plant at Mindewadi, Pune (initial ~26,000 packs per month, expandable to ~35,000), and a Chennai disc brake plant for Royal Enfield. European operations, including Italian subsidiaries and Stöferle GmbH (Germany, stake raised to 68%), generated €391.7 million in FY26 revenue and recorded a 20.5% Q4 EBITDA margin. EV business including Maxwell and battery packs is targeted at ₹1,724 crore per annum at peak. Materials at 57.6% of revenue (aluminium, steel) and energy costs are the largest cost drivers, with raw material inflation of ₹160 crore in FY26.