Endurance tech surges 5% with new four-wheeler targets and expansion into EV market

In an investor presentation on June 13, 2024, the company shared details about their further plans. It aims to significantly increase its contribution to the four-wheeler segment to its consolidated turnover. The current turnover of the four-wheeler segment accounts for 26% and the company aims to raise this figure to 45% by the financial year 2030.

Endurance Technologies is exploring opportunities to enter the new product categories within the four-wheeler space. The company aims to build alliances and acquisitions with India and Europe to facilitate this expansion. The expansion of product offerings will allow the company to capture a larger share of the market.

The company is also entering the electric vehicle (EV) market as it has announced plans to partner with major Original Equipment Manufacturers (OEMs) and new entrants in the EV space. The company’s strategy also includes launching EV-centric products and expanding its EV order book in both Europe and India.

In addition to its focus on the four-wheeler and EV markets, Endurance Technologies is also aiming to expand its aftermarket segment. The company plans to increase the turnover from its aftermarket business from the current 6% to 10% by FY28. This growth will be driven by both the Indian and European markets.

At 3:19 PM, shares of Endurance Technologies Limited were trading 5.43% higher at ₹2,689 apiece on the NSE.