Endurance Technologies claims to be the largest two-wheeler and three-wheeler automotive component manufacturer in India. For FY2016, its total revenue contribution from India was 70.1% while Europe accounted for the rest 29.9%.
Its major products in India include aluminum castings, aluminium alloy wheels for motorcycles; suspension products such as shock absorbers, front forks and hydraulic dampers; transmission components such as clutch assemblies, cork and paper-based friction plates, continuous variable transmission assemblies ("CVTs"); brake systems, such as hydraulic disc brake assemblies including calipers, master cylinders and rotary disc brakes and hydraulic drum brake assemblies and tandem master cylinder assemblies; and aftermarket services to cater to the replacement market.
According to the Aluminium Casters' Association of India, Endurance is the number one aluminium die-casting company in India in terms of actual output and installed capacity in FY2016.
In Europe, Endurance Technologies has operations in Italy and Germany with highly-automated manufacturing facilities. The operations predominantly cater to four-wheeler OEMs, focusing on engine and transmission components such as raw and machined aluminium castings (high-pressure and gravity die-casting products) and steel, cast iron and engineering plastic parts.
The company operates 25 plants across India, Italy and Germany. This includes 18 manufacturing plants in India, comprising eight in Aurangabad (Maharashtra), five in Pune (Maharashtra), two in Pantnagar (Uttarakhand) and one each in Manesar (Haryana), Chennai (Tamil Nadu) and Sanand (Gujarat), with three in-house tool rooms.
Endurance Technologies’ largest customers in India are Bajaj Auto Limited, Royal Enfield, Honda Motorcycle and Scooter India Private Limited, and India Yamaha Motor Private Limited. In Europe, its largest customer is Fiat Chrysler and its group companies while it also supplies to Daimler.
Promoter of Endurance Technologies: Anurang Jain
Endurance Technologies IPO details
|Subscription Dates||5 – 7 October 2016|
|Price Band||INR467-472 per share|
|Offer For Sale||24,613,024 shares|
|Total IPO size||24,613,024 shares|
|Minimum bid (lot size)||30 shares|
|Face Value||INR10 per share|
|Listing On||BSE, NSE|
|Endurance Technologies’ consolidated financial performance (in INR crore)|
|Profit after tax||182.3||169.2||204.4||252.4||289.8|
Endurance Technologies IPO Subscription Details
Subscription status (no. of times, at 6 PM)
|Day 1||Day 2||Day 3|
IPO Opening Date: 5 October 2016
IPO Closing Date: 7 October 2016
Finalisation of Basis of Allotment: 17 October 2016
Initiation of refunds: 18 October 2016
Transfer of shares to demat accounts: 18 October 2016
Listing Date: 19 October 2016
Listing Price on NSE: INR572 per share (return of 21.2% on IPO price)
Closing Price on NSE: INR654.4 per share (return of 38.6% on IPO price)