Endurance Technologies Ltd, founded in 1985 and headquartered in Pune, Maharashtra, is a prominent player in India’s auto components industry, specializing in high-quality components for two and three-wheelers. The company stands out as the largest aluminum die-casting company in India, as well as the largest manufacturer of auto components for two and three-wheelers.
With a strong focus on innovation and manufacturing excellence, Endurance Technologies offers a wide range of products crucial to vehicle performance and safety. Their product lineup includes advanced aluminum die-casting components, inverted front fork assemblies, gas-filled shock absorbers, continuous variable transmissions (CVT), and robust braking systems. The company’s expertise in aluminum die-casting and suspension systems ensures the durability and reliability of its products, catering to the specific needs of the automotive market in India and abroad.
Endurance Technologies Q2 FY25: Net Profit Jumps 31% to ₹203 Crore, Revenue Climbs 14% to ₹2,912 Crore
- Net Profit: Increased by 31.4% YoY to ₹203 crore, up from ₹154.5 crore in Q2 of the previous fiscal.
- Revenue: Rose 14.4% YoY to ₹2,912.6 crore, compared to ₹2,545 crore in the same period last year.
- Operating Performance (EBITDA):
- EBITDA increased by 20% to ₹381.8 crore, up from ₹318.2 crore in the previous year’s corresponding quarter.
- EBITDA margin improved to 13.1% from 12.5% in the same period last fiscal.
- Aftermarket Sales: Indian operations recorded aftermarket sales of ₹229.8 crore, a rise from ₹217.7 crore in Q2 of the previous year.
- Earnings Per Share (EPS):
- Consolidated Basic and Diluted EPS reached ₹28.92 per share (not annualised), compared to ₹22.61 per share in the previous year’s quarter.
- Sector Performance and Insights:
- Indian two-wheeler sales for Original Equipment Manufacturers (OEMs) grew by 13.1% YoY, while three-wheeler sales grew by 4.9%.
- Passenger vehicle volumes in India saw a slight decline, and Europe’s new car registrations decreased by 7.8%.
- Company Growth Strategy:
- Endurance recorded 16.8% growth in its standalone business and 6.4% growth in Euro terms in its European market.
- Managing Director Anurang Jain credited this growth to a strategy focused on core strengths and new opportunities, achieving higher operating margins in both India and Europe.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% |
| FIIs + | 8.31% | 7.82% | 7.79% | 8.67% | 9.53% |
| DIIs + | 14.91% | 15.40% | 15.44% | 14.34% | 13.57% |
| Public + | 1.80% | 1.77% | 1.76% | 1.98% | 1.90% |
| No. of Shareholders | 76,308 | 77,090 | 84,155 | 92,679 | 85,359 |
Endurance Technologies’ shareholding pattern over the past year reflects strong stability, with Promoters consistently holding a 75.00% stake from September 2023 to September 2024. Foreign Institutional Investors (FIIs) increased their holdings, moving from 8.31% in September 2023 to 9.53% by September 2024, indicating growing confidence from international investors. In contrast, Domestic Institutional Investors (DIIs) slightly reduced their stake from 14.91% to 13.57%, showing a modest reallocation in their investment strategy. Public shareholding remained low and stable, varying marginally between 1.80% and 1.90%. Additionally, the number of shareholders rose notably from 76,308 in September 2023 to a peak of 92,679 in June 2024, before adjusting to 85,359 in September 2024, reflecting some changes in retail investor participation. This shareholding pattern underscores the solid confidence from Promoters and the increasing interest from foreign investors in Endurance Technologies, highlighting the company’s strong performance and growth potential in the market.
Below are the trading platforms that you can use to purchase Endurance Technologies shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| November 2024 | 2,507.05 | 2,180.05 |
| December 2024 | 2,532.12 | 2,201.85 |
As we move through the close of 2024, Endurance Technologies is expected to experience strong stock performance. By November, the maximum price for Endurance Technologies is projected to reach ₹2,507.05, with a minimum price of ₹2,180.05. Looking forward to December, the stock’s anticipated maximum price could rise slightly to ₹2,532.12, while the minimum price is expected to be around ₹2,201.85.
| When | Maximum Price | Minimum Price |
| January 2025 | 2,557.45 | 1,967.27 |
| February 2025 | 2,583.28 | 1,987.14 |
| March 2025 | 2,637.53 | 2,028.87 |
| April 2025 | 2,611.41 | 2,008.78 |
| May 2025 | 2,535.35 | 1,950.27 |
| June 2025 | 2,649.44 | 2,038.03 |
| July 2025 | 2,597.49 | 1,998.07 |
| August 2025 | 2,677.83 | 2,059.87 |
| September 2025 | 2,709.96 | 2,084.59 |
| October 2025 | 2,780.42 | 2,138.79 |
| November 2025 | 2,849.93 | 2,192.26 |
| December 2025 | 2,978.18 | 2,290.91 |
As we step into 2025, Endurance Technologies’ stock shows promising growth potential. In January, the expected maximum price is 2,557.45 with a minimum of 1,967.27. By mid-year, June could see a peak of 2,649.44 and a low of 2,038.03. Moving into the latter months, September might reach 2,709.96 as a high and 2,084.59 as a low. The stock is anticipated to rise further in October to a maximum of 2,780.42 and a minimum of 2,138.79. As we close the year in December, projections suggest a peak of 2,978.18 with a minimum of 2,290.91.
| When | Maximum Price | Minimum Price |
| January 2026 | 3,067.52 | 2,359.63 |
| February 2026 | 2,990.84 | 2,300.64 |
| March 2026 | 3,050.65 | 2,346.66 |
| April 2026 | 3,112.91 | 2,394.55 |
| May 2026 | 3,082.09 | 2,370.84 |
| June 2026 | 3,159.14 | 2,430.11 |
| July 2026 | 3,097.20 | 2,382.46 |
| August 2026 | 3,192.99 | 2,456.14 |
| September 2026 | 3,256.85 | 2,505.27 |
| October 2026 | 3,341.53 | 2,570.40 |
| November 2026 | 3,425.06 | 2,634.66 |
| December 2026 | 3,510.69 | 2,700.53 |
| When | Maximum Price | Minimum Price |
| January 2027 | 3,545.80 | 2,727.54 |
| February 2027 | 3,636.72 | 2,797.47 |
| March 2027 | 3,778.55 | 2,906.58 |
| April 2027 | 3,704.46 | 2,849.58 |
| May 2027 | 3,596.56 | 2,766.59 |
| June 2027 | 3,758.41 | 2,891.08 |
| July 2027 | 3,684.71 | 2,834.39 |
| August 2027 | 3,798.67 | 2,922.06 |
| September 2027 | 3,931.63 | 3,024.33 |
| October 2027 | 4,033.85 | 3,102.96 |
| November 2027 | 4,134.69 | 3,180.53 |
| December 2027 | 4,238.06 | 3,260.05 |
| When | Maximum Price | Minimum Price |
| January 2028 | 4,322.82 | 3,325.25 |
| February 2028 | 4,433.66 | 3,410.51 |
| March 2028 | 4,606.58 | 3,543.52 |
| April 2028 | 4,516.25 | 3,474.04 |
| May 2028 | 4,384.71 | 3,372.86 |
| June 2028 | 4,582.02 | 3,524.63 |
| July 2028 | 4,492.18 | 3,455.52 |
| August 2028 | 4,631.11 | 3,562.39 |
| September 2028 | 4,793.20 | 3,687.08 |
| October 2028 | 4,917.83 | 3,782.94 |
| November 2028 | 5,040.77 | 3,877.52 |
| December 2028 | 5,166.79 | 3,974.45 |
| When | Maximum Price | Minimum Price |
| January 2029 | 5,270.13 | 4,053.94 |
| February 2029 | 5,405.26 | 4,157.89 |
| March 2029 | 5,616.06 | 4,320.05 |
| April 2029 | 5,505.94 | 4,235.34 |
| May 2029 | 5,345.58 | 4,111.98 |
| June 2029 | 5,586.13 | 4,297.02 |
| July 2029 | 5,476.60 | 4,212.77 |
| August 2029 | 5,645.97 | 4,343.06 |
| September 2029 | 5,843.58 | 4,495.06 |
| October 2029 | 5,995.52 | 4,611.94 |
| November 2029 | 6,145.41 | 4,727.23 |
| December 2029 | 6,299.04 | 4,845.42 |
| When | Maximum Price | Minimum Price |
| January 2030 | 6,425.02 | 4,942.32 |
| February 2030 | 6,589.77 | 5,069.05 |
| March 2030 | 6,846.77 | 5,266.74 |
| April 2030 | 6,712.52 | 5,163.47 |
| May 2030 | 6,517.01 | 5,013.08 |
| June 2030 | 6,810.27 | 5,238.67 |
| July 2030 | 6,676.74 | 5,135.95 |
| August 2030 | 6,883.23 | 5,294.79 |
| September 2030 | 7,124.15 | 5,480.11 |
| October 2030 | 7,309.37 | 5,622.60 |
| November 2030 | 7,492.11 | 5,763.16 |
| December 2030 | 7,679.41 | 5,907.24 |
As we move into 2030, Endurance Technologies is projected to see consistent growth. In January, the stock could reach a maximum of ₹6,425.02 and a minimum of ₹4,942.32. February might see a peak of ₹6,589.77 and a low of ₹5,069.05, while March could see ₹6,846.77 as the high and ₹5,266.74 as the low. By April, the range is expected to be ₹6,712.52 to ₹5,163.47. In May, the stock could peak at ₹6,517.01 with a low of ₹5,013.08, and in June, ₹6,810.27 at its peak and ₹5,238.67 at its lowest. July may see a high of ₹6,676.74 and a low of ₹5,135.95, while August could reach ₹6,883.23 with a low of ₹5,294.79. September is expected to have a high of ₹7,124.15 and a low of ₹5,480.11, and in October, ₹7,309.37 at its peak and ₹5,622.60 at its lowest. By November, the maximum could reach ₹7,492.11, with a minimum of ₹5,763.16, and December is expected to close the year at ₹7,679.41 with a minimum of ₹5,907.24.
Financial Condition of Endurance Technologies
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 6,915 | 6,544 | 7,549 | 8,804 | 10,241 | 10,984 |
| Expenses + | 5,784 | 5,504 | 6,585 | 7,768 | 8,913 | 9,540 |
| Operating Profit | 1,131 | 1,040 | 965 | 1,036 | 1,328 | 1,444 |
| OPM % | 16% | 16% | 13% | 12% | 13% | 13% |
| Other Income + | 48 | 19 | 10 | 35 | 86 | 114 |
| Interest | 18 | 14 | 6 | 21 | 43 | 47 |
| Depreciation | 414 | 399 | 382 | 422 | 474 | 503 |
| Profit before tax | 747 | 647 | 586 | 629 | 897 | 1,009 |
| Tax % | 24% | 20% | 21% | 24% | 24% | |
| Net Profit + | 566 | 520 | 461 | 480 | 680 | 769 |
| EPS in Rs | 40.2 | 36.95 | 32.75 | 34.09 | 48.38 | 54.69 |
| Dividend Payout % | 14% | 16% | 19% | 21% | 18% |
Endurance Technologies has demonstrated steady financial growth from March 2020 to the trailing twelve months (TTM) ending in 2024. Sales revenue increased consistently over the period, from ₹6,915 crore in March 2020 to ₹10,984 crore in the TTM, showcasing robust demand for the company’s products. Alongside this, expenses rose from ₹5,784 crore to ₹9,540 crore, with a stable Operating Profit Margin (OPM) of around 13% in recent years, reflecting balanced growth between revenue and expenses.
The company’s operating profit also saw an upward trend, starting at ₹1,131 crore in 2020 and reaching ₹1,444 crore in the TTM period, despite fluctuations in the OPM, which dipped slightly to 12% in 2023 but stabilized around 13% by 2024. Other income saw significant growth from ₹48 crore in 2020 to ₹114 crore in the TTM, boosting the bottom line. Despite increasing interest expenses from ₹18 crore in 2020 to ₹47 crore in the TTM, the company managed to improve its profit before tax, rising from ₹747 crore to ₹1,009 crore during the period.
Endurance Technologies’ net profit climbed from ₹566 crore in 2020 to ₹769 crore in the TTM, and the EPS (earnings per share) grew from ₹40.2 to ₹54.69. The company’s tax rate remained steady around 24%, while its dividend payout percentage fluctuated, peaking at 21% in 2023 and then moderating to 18% in 2024. This strong financial performance underscores Endurance Technologies’ resilience and its ability to deliver consistent growth while maintaining profitability, highlighting its sound operational and financial strategies.
FAQs
What is Endurance Technologies current market capitalization?
The current market capitalization of Endurance Technologies is approximately ₹34,135 crores.
The projected share price target for Endurance Technologies in 2025 ranges from a minimum of ₹1,950.27to a maximum of ₹2,978.18.
The expected share price target for Endurance Technologies in 2030 ranges from a minimum of ₹4,942.32 to a maximum of ₹7,679.41.
What is Endurance Technologies current price-to-earnings (P/E) ratio?
The current P/E ratio of Endurance Technologies is 44.4.
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Conclusion
Endurance Technologies Ltd. is a leading auto components manufacturer in India, specializing in suspension, braking systems, and die-casting products for major automakers. With a growing presence in global markets and a focus on electric vehicle (EV) components, the company is well-positioned for future growth. Its strong financial performance and strategic expansions contribute to a positive stock outlook, with projections suggesting the stock could reach ₹2,532.12 by December 2024, ₹2,978.18 in 2025, and potentially ₹7,679.41 by 2030, driven by advancements in technology and increasing demand for automotive parts.
What did we learn?
- 1 Endurance Technologies Q2 FY25: Net Profit Jumps 31% to ₹203 Crore, Revenue Climbs 14% to ₹2,912 Crore
- 2 Shareholdings Patterns of Endurance Technologies
- 3 How to purchase Endurance Technologies shares?
- 4 Endurance Technologies Share Price Prediction: 2024 to 2030
- 4.1 Endurance Technologies Share Price Prediction 2024
- 4.2 Endurance Technologies Share Price Target 2025
- 4.3 Endurance Technologies Share Price Prediction 2026
- 4.4 Endurance Technologies Share Price Target 2027
- 4.5 Endurance Technologies Share Price Prediction 2028
- 4.6 Endurance Technologies Share Price Prediction 2029
- 4.7 Endurance Technologies Share Price Target 2030
- 5 Financial Condition of Endurance Technologies
- 6 FAQs
- 7 Conclusion
