Endurance Technologies Ltd. (ENDURANCE) AI Stock Analysis

• Market Cap: ₹337.90B
• Dividend Yield: 0.38%
• Average Volume (3M): 9.52K
• Price to Earnings (P/E): 41.1
• Beta (1Y): 0.68
• Revenue Growth: 15.84%
• EPS Growth: 14.80%
• Country: IN
• Employees: 4,070
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): 16.90
• Shares Outstanding: 140,662,840
• 10 Day Avg. Volume: 6,158
• 30 Day Avg. Volume: 9,516
• PEG Ratio: 1.42
• Price to Book (P/B): 4.74
• Price to Sales (P/S): 2.35
• P/FCF Ratio: 56.72
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹2,880.00
• Price Target Upside: 13.10% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 67.8
• Revenue Forecast (FY): ₹141.30B

• Rating: 59 Neutral
• Price Target: ₹2,510.00 ▼(-1.43% Downside)
• Action: Downgraded Date: 11/14/25
• Date: Action: Downgraded 11/14/25

Endurance Technologies Ltd. has a strong financial foundation with robust revenue growth and efficient operations. However, the stock faces challenges with bearish technical indicators and a high P/E ratio, suggesting potential overvaluation. The low dividend yield further limits its attractiveness to income-focused investors.

Positive Factors

Consistent revenue growth

Sustained mid-teens revenue growth indicates continued demand and successful OEM program wins. Over 2–6 months this underpins predictable top-line expansion, supports capacity utilization, and provides a foundation for reinvestment in tooling and higher-value assemblies.

High operating margins

Robust gross and EBIT margins reflect efficient manufacturing, cost control and value-added product mix. These durable operational efficiencies allow the company to sustain profitability through cycles, fund investments, and remain competitive on OEM pricing over multiple quarters.

Low financial leverage

A low debt load and strong equity backing provide financial flexibility for capex, R&D, or M&A without stressing cash flows. This balance-sheet strength reduces refinancing and interest-rate risk and supports long-term stability across industry cycles.

Negative Factors

Low net profit conversion

Despite high EBIT margins, a single-digit net margin shows substantial non-operating costs, tax or other drains. Over months this limits retained earnings and free cash accumulation, constraining shareholder returns and the ability to self-fund larger strategic initiatives.

Suboptimal free cash flow conversion

While FCF growth is strong, conversion of net income to free cash is modest. Persistently low conversion can restrict capital allocation choices, increase reliance on external funding for growth or capex, and reduce resilience to shocks over the medium term.

Exposure to OEM production cyclicality

Business dependence on OEM volumes, notably two-wheeler cycles, causes structural revenue and utilization volatility. This cyclicality affects investment planning, working capital needs and margin stability, making multi-quarter forecasting and consistent free-cash generation harder.

Endurance Technologies Ltd. Business Overview & Revenue Model

Company Description

Endurance Technologies Limited, together with its subsidiaries, manufactures and supplies automotive components for original equipment manufacturers in the automotive industry in India and Europe. The company offers die castings, such as high pressure, low pressure, and gravity die castings; machining components, which comprise engines, gearboxes, and transmission parts; other metallic components assembling services, including aluminum alloys, cast iron, and steel; and suspension products design, develop, and manufacture adjustable and non-adjustable damping force inverted front forks and mono shock absorbers. It also provides transmission products comprising clutch assemblies, and cork and paper based friction plates; and continuous variable transmission assemblies; transmission housing, gearbox housing, torque convertor housing, and oil modules for electric vehicles; plastic components, including engine covers for automotive applications; and engine parts. In addition, the company offers brake systems that include disc brakes, hydraulic drum brakes, tandem master cylinders, and asbestos free brake shoes, as well as disc brake assemblies, drum brake assemblies, and rotary discs, as well as aftermarket sales services. Further, it provides spare parts for dealers. The company offers its products for use in two, three, and four wheelers, as well as scooters and quadricycles. Endurance Technologies Limited was founded in 1985 and is based in Aurangabad, India.

How the Company Makes Money

Endurance Technologies primarily makes money by manufacturing and selling automotive components to vehicle OEMs (B2B supply). Its revenue is largely generated from (1) product sales of components across its core lines—such as aluminium die-castings and machined parts, suspension systems, and braking-related components—supplied as OEM-fit parts for new vehicle production; and (2) related manufacturing/engineering activities tied to these supplies (e.g., tooling, value-added machining/assembly, and program-linked component supply for specific vehicle platforms), where applicable. Earnings are driven by long-term supply relationships and repeat orders linked to OEM production volumes and model/platform wins, with revenue influenced by vehicle production cycles (especially two-wheelers in India), product mix (higher value-added assemblies vs. simpler parts), capacity utilization, and input-cost pass-through/price-negotiation mechanisms typical of OEM supply contracts. Specific partnership details, customer concentration, or segment revenue splits are null.

Endurance Technologies Ltd. Financial Statement Overview

Summary

Endurance Technologies Ltd. demonstrates robust financial health with strong revenue growth, efficient operations, low leverage, and solid cash flow management. However, there is room for improvement in net profitability and free cash flow generation.

Income Statement

Endurance Technologies Ltd. shows strong growth in revenue with a 14.66% increase in 2025 compared to 2024. The gross profit margin stands at 42.88%, indicating efficient production costs. The EBIT margin is robust at 34.18%, demonstrating effective cost management and operational efficiency. However, the net profit margin of 7.23% suggests room for improvement in profitability.

Balance Sheet

The company maintains a healthy balance sheet with a debt-to-equity ratio of 0.17, indicating low financial leverage and strong equity backing. The equity ratio is solid at 62.57%, showing a strong proportion of equity financing. The return on equity stands at 14.63%, reflecting decent profitability relative to shareholder investment.

Cash Flow

Operating cash flow to net income ratio is strong at 1.83, indicating efficient cash generation relative to net income. The free cash flow growth rate is impressive at 147.23%, highlighting strong cash flow management. However, the free cash flow to net income ratio of 0.57 suggests potential for further improvement in free cash flow generation.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	127.24B	115.61B	102.41B	87.31B	74.68B	64.05B
Gross Profit	54.89B	49.58B	11.72B	34.75B	24.20B	23.52B
EBITDA	17.87B	15.51B	14.14B	10.71B	9.74B	10.60B
Net Income	8.83B	8.36B	6.80B	4.80B	4.61B	5.20B
Balance Sheet
Total Assets	106.52B	91.39B	78.86B	68.02B	58.58B	57.48B
Cash, Cash Equivalents and Short-Term Investments	14.76B	18.07B	12.70B	9.34B	8.88B	9.60B
Total Debt	12.29B	9.44B	7.65B	5.15B	4.30B	6.41B
Total Liabilities	43.94B	34.22B	29.08B	23.90B	19.38B	21.85B
Stockholders Equity	62.58B	57.17B	49.77B	44.12B	39.20B	35.62B
Cash Flow
Free Cash Flow	-322.10M	4.78B	1.94B	2.26B	2.13B	2.46B
Operating Cash Flow	6.56B	15.32B	10.28B	8.62B	7.42B	6.21B
Investing Cash Flow	-8.85B	-10.13B	-9.45B	-9.15B	-5.51B	-5.91B
Financing Cash Flow	-2.28B	-291.78M	1.05B	-718.76M	-3.02B	-1.43B

Endurance Technologies Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2546.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ENDURANCE, the sentiment is Negative. The current price of 2546.5 is above the 20-day moving average (MA) of 2523.21, above the 50-day MA of 2508.96, and below the 200-day MA of 2656.67, indicating a bearish trend. The MACD of -18.20 indicates Positive momentum. The RSI at 40.31 is Neutral, neither overbought nor oversold. The STOCH value of 28.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ENDURANCE.

Endurance Technologies Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VARROC	69 Neutral	₹73.20B	-220.37	―	0.16%	7.38%	-73.62%
TVSHLTD	64 Neutral	₹279.33B	14.13	―	0.65%	19.93%	52.09%
TIINDIA	62 Neutral	₹475.54B	76.25	―	0.13%	14.32%	-45.74%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ENDURANCE	59 Neutral	₹337.90B	41.08	―	0.38%	15.84%	14.80%
EXIDEIND	58 Neutral	₹252.20B	39.67	―	0.54%	2.19%	-5.70%
SUPREMEIND	56 Neutral	₹493.62B	69.47	―	1.05%	1.68%	-22.27%