Endurance Technologies Q1FY26 concall decoded: ABS jackpot, Europe rescue act, and a ₹800 crore capex binge
Opening Hook While Bollywood obsesses over sequels, Endurance is scripting its own with ABS. Thanks to a government diktat making ABS mandatory for >50cc 2Ws and EVs above 4kW, demand could balloon 5x. The company, already the only Indian player in an MNC-dominated ABS market, smells a once-in-a-decade tailwind. Q1 consolidated revenue rose 17.3% YoY to ₹3,355 crore, EBITDA 17.5% to ₹480 crore, with PAT up 11% to ₹226 crore. But investors aren’t just tracking quarterly print—they’re watching if Endurance can weld itself into the EV + safety regulations megatrend. The question: can Waluj and Europe plants keep pace with regulatory adrenaline?
EV order book ₹1,017 cr p.a. (with Bajaj) – future growth locked in
Management’s Key Commentary MD: “ABS opportunity is 10x; Endurance is the only Indian player.” Translation: Bosch, Continental, move over—Nagpur wants the wheel.
MD: “We’ll add 2.4 mn ABS capacity by March 2026.” Translation: Waluj’s factory is about to look like a traffic police ABS demo.
CFO: “PAT rose 11% despite inflation and talent hiring.” Translation: Costs pinched, but fresh engineers are the new assets.
MD: “Capex to cross ₹800 crore in India this year.” Translation: Wallet open, cheque book smoking.
MD: “New plant in Chennai for disc brake systems.” Translation: ABS needs discs, and discs need factories.
CEO Europe: “Stöferle added €22 mn topline and 17.4% margin.” Translation: We bought a German cash machine, not a rescue case.
MD: “Target 25% ABS market share post norms.” Translation: From fringe player to quarter of the pie in two years, fingers crossed.
