Endurance Technologies reported a 35.9% rise in first-quarter revenue driven by strong domestic demand and new orders, including contracts from Honda, Mercedes-Benz, Hyundai, Kia, and Isuzu, while expanding into electric-vehicle components despite margin pressures.
Endurance Technologies reported a sharp lift in first-quarter revenue for fiscal 2027, helped by stronger domestic two-wheeler and passenger vehicle demand, while also landing a string of fresh orders that should support growth over the coming quarters, according to GuruFocus. The company said standalone total income rose 35.9% year on year, with management pointing to a robust pipeline in India and Europe as the business broadened its exposure beyond traditional motorcycle components.
Order momentum was a particular bright spot. Endurance said it won INR391.6 crore in new business during the quarter, led by INR336 crore from Honda Motorcycle & Scooter India and a sizeable European contract from Mercedes-Benz for hybrid transmission components. The company also cited progress in ABS capacity expansion, a battery pack plant for Hero MotoCorp and new four-wheeler casting orders from Hyundai, Kia and Isuzu, underscoring a push into higher-value products and electric-vehicle-linked programmes.
Margins, however, came under pressure from higher commodity and conversion costs. Endurance reported a standalone EBITDA margin of 11.2%, reflecting a jump in prices for aluminium, steel, copper and rubber, as well as higher fuel and other operating costs. Management said it expects some relief in the second quarter as raw material prices soften and OEM price settlements filter through, although the company also flagged geopolitical strain, freight inflation and supply-chain disruption linked to the West Asia conflict.
The quarter also highlighted a business in transition. Maxwell, the subsidiary focused on battery-management systems, turned profitable for the first time, while Endurance said its market share rose in front forks and brake assemblies. Even so, the company acknowledged that some newer facilities, including the Bidkin alloy wheel plant and the battery pack operation, are still ramping up. In Europe, profit fell as the group accelerated depreciation on internal-combustion-engine assets and faced tougher competition from Chinese manufacturers, even though turnover and EBITDA improved.
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