Endurance Tech clarifies on 'Rs 4,000 crore' TN investment report; stock slips 2%

Endurance Technologies Ltd on Friday issued a clarification to the exchanges regarding a news report titled "Auto, EV component makers to invest Rs 4,000 crore more in TN."

The company said, "We wish to clarify that the Company has acquired a leasehold plot admeasuring ~8.9 acre in Kancheepuram District from the State Industrial Promotion Corporation of Tamil Nadu Limited (SIPCOT). This land acquisition has been with an intent to expand its manufacturing operations in the southern region of India, with a focus on offering its products to the two and four-wheeler OEM customers operating in that area. Subsequently, the Company has signed a Memorandum of Understanding with the State Government under which the latter will facilitate the Company’s investment by way of necessary infrastructural and regulatory support. The Company is currently evaluating to set-up a manufacturing facility on the acquired land parcel, for production of two-wheeler disc brake components and assemblies, to meet the growing demand from OEMs in that region."

It further added, "We further state that, at present, there is no requirement under the Listing Regulations to make any disclosure to the Stock Exchanges in this regard. The Company remains committed to complying with all applicable regulatory requirements and will promptly disclose / disseminate any material information as and when required under the Listing Regulations."

On the stock-specific front, Endurance Tech fell 1.78 per cent to hit a day's low of Rs 2,874.95.

Separately, the company recently informed bourses that it has evaluated and approved capacity addition for ABS, disc brake systems and brake discs.

"This strategic capacity enhancement is being undertaken in view of the higher demand expected for advanced safety products of this nature. New machinery shall be installed primarily for manufacturing aforementioned products at the Company's existing plant situated at E-71, MIDC Industrial area, Waluj, Chh. Sambhajinagar," it stated.

As of June 2025, promoters held a 75 per cent stake in the company, which is a key player in the electric vehicle (EV) market.