• Event Type: Q1 FY27 post-results conference call and investor interaction.
  • Date and Time: The conference call was held on August 14, 2026. The specific time and time zone were not disclosed in the provided transcript.
  • Purpose: Discussion of quarterly financial results (Q1 FY27), operational updates, strategic initiatives, and business outlook.
  • Management Participants: Mr. Anurang Jain – Managing Director; Mr. Rajendra Abhange – Director and Chief Operating Officer; Mr. Massimo Venuti – Director and Chief Executive Officer, Endurance Overseas; Mr. Raja Gopal Sastry – Group Chief Financial Officer; Mr. Raj Mundra – Treasurer and Head Investor Relations. The call was moderated by Mr. Nishit Jalan from Axis Capital Limited.
  • Availability of Materials: The full transcript of the conference call was hosted on the company's website at the provided URL as part of the regulatory filing dated August 21, 2026. No mention was made of a presentation deck, recording, or earnings deck being available.
  • UPSI Statement: The document itself is a regulatory filing containing the transcript. The transcript includes detailed financial and operational discussions that were already in the public domain via the results announcement and this subsequent filing.

Financial and Operational Highlights from the Call

  • Financial Period Discussed: Q1 FY27 (Quarter ending June 2026).
  • Standalone Financial Performance: Total income grew 35.9% YoY to ₹3,194.15 crores (from ₹2,350.7 crores in Q1 FY26). EBITDA grew 17.1% to ₹357.78 crores (Margin: 11.2%). PAT grew 17.4% to ₹194.62 crores (Margin: 6.1%). The quarter was challenging due to commodity inflation (Aluminium, Steel, Copper, Rubber, Oils, Fuels, PNG, LPG, cutting tools), which increased the Raw Material Consumption (RMC) percentage to 68.4% from 64.8% in Q1 FY26. Adjusting for this non-value-add commodity pass-through, the underlying EBITDA margin was 13.33%.
  • Consolidated Financial Performance: Total income grew 29.6% YoY to ₹4,348.28 crores. EBITDA grew 18.7% to ₹569.21 crores (Margin: 13.1%). PAT grew 8% to ₹244.52 crores (Margin: 5.6%). Subsidiary Maxwell achieved PAT positivity for the first time in Q1 FY27, with an 85% growth in total income to ₹56.52 crores.
  • EV Business Growth: Standalone EV sales in India grew 87.6% YoY to ₹129.7 crores. Overseas EV and plug-in hybrid sales grew 14.4% to ₹802.2 crores. Consolidated EV/plug-in hybrid sales grew 20.9% to ₹931.9 crores.
  • Capex Guidance: India capex in FY26 was ~₹800 crores. FY27 capex is expected to remain similar at ~₹800 crores, focused on automation and new growth areas.
  • Key Operational Updates:
  • ABS Capacity: Adding 9 lakhs ABS units per annum (revised down from 12 lakhs due to higher demand for brake assemblies). SOP expected Sept/Oct 2026. Dual-channel ABS SOP for Bajaj Auto (120,000 units) scheduled for Q2 FY27.
  • New Plants: Chennai disc brake plant (3M assemblies, 4M discs p.a.) SOP for Royal Enfield expected next month. Phase 2 completion in Q3 FY27.
  • 4W Casting (AURIC Shendra): Cumulative bookings of ₹513 crores p.a. from a large US EV OEM, JLR, and Valeo. SOP starts September 2026.
  • Battery Packs: 2W battery pack SOP for Hero MotoCorp started June 2026. 4W battery pack capex of ₹62 crores announced; SOP expected Q4 FY27.
  • Maxwell (BMS): Q1 FY27 income of ₹56.5 crores (21% QoQ growth). Cumulative orders won: ₹238 crores p.a.
  • Suspension: Adding capacity for inverted front forks; target of 100,000 units/month by end-FY27. New orders worth ~₹120 crores p.a. from Hero MotoCorp and Suzuki.
  • Aluminium Forging: Adding a fifth press; SOP expected next quarter.
  • Solar Products: Solar damper SOP for a Spanish client started. Solar actuator SOP expected Q4 FY27. Total business won: ₹345 crores.
  • Order Wins (Q1 FY27, India): Total ₹391.6 crores won (₹26.1 crores new, ₹365.4 crores replacement). Includes ₹336 crores from HMSI and ₹35 crores from TVS.
  • Europe Business: Order wins of €13.9 million in Q1 FY27, including from Mercedes and Stellantis. Europe revenue was €104.3 million for the quarter.
  • ESG: CRISIL upgraded ESG rating to 68 for FY26 from 59.

Additional Notes Section

  • The provided data is the transcript of the conference call, filed with the stock exchanges.
  • The transcript contains extensive financial data and operational details that were discussed during the call.
  • The document includes detailed Q&A with analysts from Investec, Citigroup, InCred, and Axis Capital.