On a consolidated basis, the auto ancillary company posted an 8.1% decline in net profit to Rs 519.6 crore for the year ended March 2021 (FY21) as compared to Rs 565.5 crore in the year ended March 2020 (FY20). Net sales declined 5.4% to Rs 6,547 crore in FY21 over FY20.

Commenting on the company's performance, Anurang Jain, MD of the company said, "H1FY21 had witnessed de-growth in the number of two wheelers sold by Indian OEMs, and Q3 had witnessed strong demand recovery. Q4 saw a growth of 25.9% in the volumes, backed by demand recovery and a low base for the month of March. On a full year basis, there was de-growth of 12.1%. Endurance standalone top-line growth for Q4 was 40.60% YoY, while de-growth for the full year was 3.8%. We have posted better-than-industry numbers with key two-wheeler OEMs in the country trusting us to deliver a wider range of products, including those in the high-end value-added category. In Europe (European Union and United Kingdom), the market for new cars recorded de-growth of 19.4% for the year. After four quarters of de-growth, Q4FY21 witnessed a growth of 0.7%. ETL Europe's revenue performance beat the industry volume numbers, with 18% degrowth for the year and 3.4% growth YOY for Q4 in Euro terms."

He further added, “We continue to win orders for supply of products to European four-wheeler OEMs, including sizeable orders for EV and hybrid applications. While we focus on securing profitable growth by servicing new orders, gaining access to new technology and commissioning new facilities, we also keep a keen eye on our cost structure. During the year, we have consolidated operations in ltaly, offered voluntary separation to surplus manpower in India, and have taken a slew of other measures. During the second half of FY21, our factories in India and Europe did not face any government mandated lockdowns. The Company continues to take measures to ensure a safe workplace for its people."

Meanwhile, the board has recommended dividend of Rs 6 per equity share for the financial year 2020-21.

Endurance Technologies is one of the leading automotive component manufacturers, having a diverse range of technology intensified products with operations both in India and Europe (Italy and Germany).