NSE: BELRISE · BSE: 544405
BELRISE INDUSTRIES LTD
Manufactures auto components and is classified under the Auto Components & Equipments industry. FY26 revenue stood at Rs 9,509.102 crore with EBITDA margin of 13.2%. Raw materials are the largest cost at 63.7% of revenue, followed by depreciation at 3.8%, employee costs at 3.6% and other operating expenses at 3.5%. It operates a wholly owned subsidiary called Belrise Defence and Aerospace, pointing to some exposure to defence and aerospace products. The company is in the process of merging Badve Autocomps and Eximius Infra Tech Solutions into itself under Sections 230-232 of the Companies Act 2013, with no-objection observations received from NSE and BSE in July 2026. It raised Rs 1,700 crore through a Qualified Institutions Placement in July 2026, allotting 7.72 crore shares at Rs 220 each. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Auto components, Defence and aerospace. Auto components manufacturing with a defence and aerospace subsidiary
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 8,291 | 9,509 |
| EBITDA (ex other income) | 1,021 | 1,149 |
| margin % | 12.3 | 12.1 |
| Owners' profit | 355 | 0 |
| EPS, as reported (₹) | 5.46 | 5.82 |
| ROE % · ROCE % | 13.1 · 16.8 | 9.5 · 14.7 |
| Debt / equity (x) | 1.07 | 0.28 |
| Cash from operations | 704 | 876 |
| Capex | (738) | (565) |
Exhibit 2: Quarterly performance, last 6 quarters
| ₹ crore | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|
| Revenue | 2,274 | 2,262 | 2,354 | 2,341 | 2,553 | 2,546 |
| Profit before tax | 139 | 140 | 181 | 171 | 174 | 166 |
| Net profit | 110 | 112 | 133 | 122 | 130 | 122 |
| EPS (₹) | 1.69 | 1.50 | 1.63 | 1.45 | 1.53 | 1.37 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,66,707 | 38.1 | 3.82 | 14.8 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,34,520 | 56.9 | 9.06 | 33.0 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 84,295 | 119.4 | 8.82 | 30.4 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 62,653 | 52.0 | 8.63 | 28.8 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 57,518 | 45.9 | 9.36 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 52,988 | 76.1 | 8.64 | 46.0 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 40,753 | 67.2 | 2.87 | 15.8 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,042 | 33.0 | 4.68 | 15.7 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 35.6 | 25.0 | 80 of 119 | 33% |
| P/B | 3.6 | 3.3 | 64 of 117 | 46% |
| ROCE | 10.9 | 12.6 | 75 of 125 | 40% |
| ROE | 9.5 | 11.7 | 72 of 117 | 39% |
| Debt / Equity | 0.3 | 0.3 | 60 of 117 | 49% |
| EBITDA margin | 12.2 | 12.2 | 59 of 118 | 50% |
| Revenue growth | 12.6 | 20.2 | 81 of 113 | 29% |
| Profit growth | 8.9 | 24.4 | 72 of 115 | 38% |
| Market cap | 18928 | 1455 | 18 of 126 | 86% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Compliance certificate filing under SEBI Regulation 74(5) for September 2026 quarter | compliance | minimal | — | — |
| 1 Oct 2026 · Belrise Industries raises authorised share capital to INR 550 crore | corporate actions | medium | — | — |
| 1 Oct 2026 · Belrise Industries appoints new joint statutory auditors for 5-year term | management changes | medium | — | — |
| 1 Oct 2026 · Belrise Industries: All 6 resolutions passed at 30th AGM on Sep 30, 2026 | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 30th AGM proceedings: 6 resolutions passed including dividend and capital increase | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from October 1 for upcoming board meeting | compliance | minimal | — | — |
| 10 Sept 2026 · Newspaper publication of notice for 30th Annual General Meeting | compliance | minimal | — | — |
| 9 Sept 2026 · Belrise to attend Jefferies investor conference on Sep 16 in Gurugram | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Belrise Industries files BRSR Report for FY 2025-26 | compliance | low | — | — |
| 8 Sept 2026 · Record date Sep 15, 2026 fixed for final dividend of INR 0.55 per share | corporate actions | high | — | — |
How to read this document
| 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 | 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 |
Sources, method and disclosures
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.