Endurance Technologies (ENDURANCE) Q4 25/26 earnings summary

Executive summary

• Achieved strong growth in FY 2026, with consolidated total income up 26.1% year-over-year to INR 14,720 crores and EBITDA up 25.3% to INR 2,090 crores, driven by robust demand in both India and Europe.

• PAT rose 13.8% to INR 952 crores, with margin at 6.5%.

• Major capex investments in India (INR 828 crores) and Europe (EUR 45 million), including new plants and capacity expansions.

• Dividend of Rs. 11.50 per equity share recommended for FY 2025-26, subject to shareholder approval.

• Mr. Indrajit Banerjee appointed as Chairman of the Board effective 10th June 2026.

Financial highlights

• Standalone total income for FY 2026 rose 20% year-over-year to INR 10,696 crores; EBITDA grew 11% to INR 1,351 crores; PAT up 8.1% to INR 734 crores.

• Q4 FY 2026 consolidated income up 37.3% to INR 4,116 crores; EBITDA up 30.8% to INR 598 crores.

• European operations delivered record EBITDA margin of 20.5% in Q4, with Stöferle contributing EUR 21 million turnover and EUR 4.9 million EBITDA.

• Maxwell subsidiary achieved record turnover of INR 162 crores, supplying 350,000 BMS units and winning INR 56 crores of new business.

• Earnings per share (consolidated, basic & diluted) for FY 2025-26 was Rs. 67.66, up from Rs. 59.46 year-over-year.

Outlook and guidance

• Expect continued volatility in Q1 FY 2027 due to geopolitical tensions and rising input costs, but anticipate margin normalization from Q2 as cost pass-throughs are negotiated.

• Order book expected to be boosted by INR 5,100 crores of RFQs under discussion.

• SOP for new plants and products (battery packs, ABS, solar dampers) scheduled between Q1FY27 and Q3FY27.

• Dividend payout of Rs. 11.50 per share proposed, subject to AGM approval.

• The company continues to monitor regulatory changes, especially regarding labor codes, for future accounting impacts.