Ask Anurang Jain, 63, about the slow-but-certain electrification of the auto industry and he is unperturbed. At Endurance Technologies, the Aurangabad-based auto component company he runs, 96 percent of the parts they make could just as easily fit into an electric vehicle (EV).

Aluminium die casting, suspension, transmission and braking parts are mainstays at Endurance. The India business has grown at a steady clip and, like several of his Indian peers, Jain has moved to

Even without the cuts, Jain’s and Endurance’s journey in the auto component space has been one of steady yet measured growth and getting into new businesses while maintaining healthy cash flows. As a result, investors have bid up valuations to 43 times earnings taking its market cap to ₹37,000 crore. Over the last five years, Endurance’s valuations have compounded at 19 percent a year, putting it at among the top performers in the auto comp space. (Others like Bharat Forge, Minda Corp have also done well.) As a result, Jain and family have a net worth of $4.07 billion on the 2025 Forbes India Rich List.

Jain’s story is one of a gritty entrepreneur who took calculated bets and managed to scale in an industry that has been one of the few homegrown successes in both pre- and post-liberalisation India. “We started with ₹25 lakh of capital in 1985,” he says. (Brother Tarang Jain who runs Varroc Engineering was also part of the business in the initial days. The two formally split in 2002.)

The entrepreneur in Jain is on the constant lookout for new ideas. He’s pivoted the business in the past and got into proprietary technology, expanded globally and broadened both his customer and product. And during the course of our conversation in his Aurangabad office, he drops a hint that he may also be looking out for ideas outside the automotive space. For a business that had ₹860 crore of net cash in March, he clearly needs new areas to deploy capital.

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