Endurance Technologies (ENDURANCE) Q3 24/25 earnings summary

Executive summary

• Consolidated Q3 FY25 revenue was INR 28.8 billion, up 11.3% year-on-year, and profit after tax was INR 1.84 billion, up 21.1% year-on-year.

• European subsidiaries delivered 21.2% revenue growth and 26.7% EBITDA growth in Q3 despite a flat market.

• Major acquisition of Stöferle in Germany, a highly profitable, debt-free company, expected to add EUR 80 million in sales and EUR 15-16 million EBITDA.

• Strategic acquisitions and mergers, including Ingenia Automation Srl and the merger of Frenotecnica Srl and New Fren Srl into Endurance Two Wheelers SpA, are expected to enhance operational synergies.

• Significant new business wins in both India and Europe, with a focus on EV and four-wheeler segments.

Financial highlights

• Standalone Q3 FY25 revenue was INR 21.9 billion, up 9.2% year-on-year.

• Standalone profit after tax was INR 1.57 billion, up 18.5% year-on-year.

• Consolidated EBITDA for Q3 FY25 increased 21% year-on-year to INR 3.94 billion.

• EPS for Q3 FY25 was INR 13.11 (consolidated) and INR 11.15 (standalone), both up year-on-year.

• European operations posted EUR 12.4 million in new orders in Q3, including large hybrid segment orders from Volkswagen and BMW.

Outlook and guidance

• Optimistic outlook for both Indian and European businesses, with continued double-digit growth expected in Europe.

• Order book expected to grow with INR 32.5 billion of RFQs under discussion.

• New greenfield four-wheeler suspension facility planned, with location finalized and customer discussions ongoing.

• AURIC Shendra four-wheeler casting plant to be operational by June 2025, targeting high-value EV opportunities.

• Alloy wheel capacity to double with new AURIC Bidkin project, SOP in Q2 FY26.