After selling its foil manufacturing business, the Pune-based company now operates through recently acquired subsidiaries in Battery Energy Storage Systems, X-ray security screening, modular data centres, edge computing, and defence technologies. Standalone FY26 total income was ₹37.90 lakhs and consolidated total income was ₹57,995 lakhs, with losses reported from continuing operations in both. Recent acquisitions include Evolve IT Solutions (100% for Rs 10.75 crore), a Pune-based maker of baggage, cargo and vehicle X-ray scanners with FY25 turnover of Rs 20.81 crore; BESS Limited (99%, October 2025); DC&T Global (100%, December 2025); and Metafin (55%). A JV with HD Fabcon, Belding HD India Private Limited (55% owned), was incorporated in June 2026 to pursue BESS and renewable energy projects. The company launched an indigenously designed Hybrid BESS targeting data centres, hospitals, airports, telecom towers, mining, oil and gas, defence, and remote industrial sites, claiming 40 to 80 percent diesel reduction. Customers include operators of airports, ports, defence facilities and critical infrastructure for the screening business, alongside the BESS target segments. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. X-ray security screening systems, Battery Energy Storage Systems (BESS), Modular data centres, edge computing and defence technologies, Foil manufacturing. Recently transformed multi-business industrial, clean-energy and defence-technology roll-up
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 0 |
| EBITDA (ex other income) | (1) |
| margin % | (2793.2) |
| Owners' profit | 0 |
| EPS, as reported (₹) | 11.12 |
| ROE % · ROCE % | (0.3) · 0.3 |
| Debt / equity (x) | 0.01 |
| Cash from operations | 36 |
| Capex | (59) |
| ₹ crore | Q3 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 0 | 0 |
| Profit before tax | (1) | 3 |
| Net profit | (1) | (5) |
| EPS (₹) | 0.84 | 3.21 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BELDING INDIA LIMITED ◆ | 1,419 | 242.0 | 1.35 | 286.1 | (0.3) | 0.1 | — | 19761.8 |
| PARMESHWAR METAL LIMITED | 505 | 12.5 | — | — | — | 42.2 | — | — |
| BARODA EXTRUSION LTD. | 193 | 19.1 | 7.76 | — | 29.4 | 36.5 | — | 7.7 |
| SHARVAYA METALS LIMITED | 149 | 12.4 | — | — | — | 20.2 | — | — |
| SHILP GRAVURES LTD. | 100 | 14.4 | 0.94 | 6.8 | 6.5 | 7.6 | 7.0 | 7.1 |
| SAMPAT ALUMINIUM LIMITED | 32 | 5.2 | — | — | — | 11.4 | — | — |
| AMCO INDIA LTD. | 26 | 18.6 | 0.69 | — | 0.9 | 1.3 | — | 5.4 |
| OM METALLOGIC LIMITED | 23 | 4.3 | — | — | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Newspaper publication of 41st AGM notice and e-voting info | compliance | minimal | — | — |
| 8 Sept 2026 · Notice of 41st AGM and Annual Report FY 2025-26 sent to shareholders | compliance | minimal | — | — |
| 8 Sept 2026 · Belding India files first voluntary BRSR for FY 2025-26 | compliance | low | — | — |
| 8 Sept 2026 · Notice of 41st AGM and Annual Report for FY 2025-26 | results | high | — | — |
| 8 Sept 2026 · Notice of 41st AGM on September 30, 2026 with 4 key resolutions | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Belding India appoints new Company Secretary and Compliance Officer | management changes | medium | — | — |
| 8 Sept 2026 · Belding India appoints new Company Secretary and Compliance Officer | management changes | medium | — | — |
| 22 Aug 2026 · Belding India regularizes Independent Director Rajesh Vaishnav for 5-year term | management changes | medium | — | — |
| 22 Aug 2026 · Postal Ballot Results: 5 Resolutions Passed Including MD Pay and RPT Approval | board shareholder meetings | medium | — | — |
| 22 Aug 2026 · Postal ballot results: 5 resolutions passed by shareholders | board shareholder meetings | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 16.4 |
| — |
| — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 242.0 | 12.5 | 9 of 9 | 0% |
| P/B | 1.4 | 1.1 | 3 of 4 | 33% |
| ROCE | 0.1 | 16.4 | 9 of 9 | 0% |
| ROE | (0.3) | 3.7 | 4 of 4 | 0% |
| Debt / Equity | 0.0 | 0.1 | 2 of 4 | 67% |
| EBITDA margin | 19761.8 | 7.4 | 1 of 4 | 100% |
| Market cap | 1419 | 100 | 1 of 9 | 100% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
