BELRISE
Belrise Industries share price & financials
- Price
- ₹241.09
- Market cap
- ₹22.4k Cr
- Calls analysed
- 6
Belrise Industries Limited Q1 FY27
What went well
- Total revenue grew 13% year-on-year to INR 25,465 million, driven by strong demand in two and three-wheeler segments and new business wins.
- Manufacturing revenue increased 20% year-on-year to INR 21,979 million, outpacing total revenue growth.
- PAT grew 9% year-on-year to INR 1,217 million, with a PAT margin of 4.8%.
What to watch
- EBITDA growth was 5% YoY (INR 2,933 million), lower than revenue growth, resulting in a slight margin compression to 11.5% from 12.4% in Q1 FY26.
- Trading business declined 19% YoY due to the Middle East crisis, impacting overall revenue contribution.
What Belrise Industries Limited does
Belrise Industries manufactures automotive components and safety-critical systems for two-wheelers, three-wheelers, passenger vehicles, commercial vehicles and agri vehicles, with a product range spanning metal chassis systems, exhaust systems, body-in-white (BIW) parts, polymer components, suspensions and steering columns. Its products are largely powertrain-agnostic, allowing the same parts to be supplied across both EV and ICE vehicle platforms. It earns by supplying these components under long-standing relationships with automotive OEMs, and has recently entered the aerospace and defense supply chain through the acquisition of UK-based Chester Hall Precision (aerostructures, aero-engine and satellite parts) and a facility in Lille, France.
Segments
- 2W + 3W (Two- and Three-Wheelers)
- 4W Passenger Vehicles
- 4W Commercial Vehicles
- Others
- Manufacturing facilities
- 24 (across 11 cities in 9 states and 3 countries)
- OEM customer relationships
- 38 long-standing OEMs
- Market position
- One of the top 3 players in India's two-wheeler metal-components market, ~24% market share
- Product portfolio
- 1,000+ products
- Employees
- 2,000+
- Job workers (contract workforce)
- 5,500+
Guidance record · Q1 FY27
what the last two calls moved 14 tracked 2 delivered 0 missed 12 open- ROCE at risk said Q4 FY25 Promised: expand our ROCE to the high teens Q1 FY27: No update provided on the ROCE figure for the quarter.
- Consolidated Revenue Growth at risk said Q4 FY25 Promised: mid-teen revenue growth over the medium term Q1 FY27: Q1 YoY total revenue growth was 13%, which is below the 'mid-teens' (14-16%) range. Management highlighted strong new order wins expected to ramp up in H2 FY27.
- 4-wheeler and Commercial Vehicle Segment Revenue on track said Q4 FY25 Promised: double revenues/share from FY25 levels in the next 2-2.5 years Q1 FY27: Announced the acquisition of Hyva's tipper business, a major strategic move to strengthen the commercial vehicle portfolio and customer base.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 12.6%, net profit up 8.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,069 | 2,167 | 2,274 | 2,262 | 2,354 +14% | 2,341 +8% | 2,553 +12% | 2,546 +13% |
| EBITDA | 243 | 262 | 276 | 281 | 296 +22% | 287 +10% | 290 +5% | 293 +4% |
| Net profit | 73 | 101 | 110 | 112 | 133 +82% | 122 +21% | 130 +18% | 122 +9% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +60.9% 1Y
1Y: ₹141.7 on 10 Sept 2025 → ₹228. High ₹261.35 (12 Aug 2026), low ₹139.79 (11 Sept 2025).
How the price took the results
close before → close after
- Q1 FY27
- −1.0%
- 21 Aug
- Q4 FY26
- −2.6%
- 25 May
- Q3 FY26
- +2.1%
- 2 Feb
- Q2 FY26
- +2.3%
- 12 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 15.2% a year over 2 years, FY24 to FY26. Operating margin narrowed to 12.1%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹13.2k Cr | ₹8.3k Cr | ₹9.5k Cr |
| Operating profit | ₹2.9k Cr | ₹1.0k Cr | ₹1.2k Cr |
| Operating margin | 22.2% | 12.3% | 12.1% |
| Interest | ₹73 Cr | ₹307 Cr | ₹232 Cr |
| Depreciation | ₹413 Cr | ₹330 Cr | ₹362 Cr |
| Net profit | ₹2.2k Cr | ₹356 Cr | ₹497 Cr |
| Net margin | 16.7% | 4.3% | 5.2% |
| Cash from operations | ₹582 Cr | ₹704 Cr | ₹876 Cr |
| Free cash flow | ₹130 Cr | ₹-163 Cr | ₹258 Cr |
| ROCE | 14.0% | 14.0% | 15.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity capital | ₹20 Cr | ₹20 Cr | ₹326 Cr | ₹445 Cr | ₹445 Cr |
| Reserves | ₹1.7k Cr | ₹2.0k Cr | ₹2.0k Cr | ₹4.5k Cr | ₹4.8k Cr |
| Borrowings | ₹2.5k Cr | ₹2.4k Cr | ₹2.5k Cr | ₹1.4k Cr | ₹1.5k Cr |
| Other liabilities | ₹770 Cr | ₹1.3k Cr | ₹1.2k Cr | ₹1.7k Cr | ₹1.8k Cr |
| Total liabilities | ₹5.0k Cr | ₹5.7k Cr | ₹6.0k Cr | ₹8.1k Cr | ₹8.6k Cr |
| Fixed assets | ₹0 Cr | ₹2.4k Cr | ₹2.5k Cr | ₹3.0k Cr | ₹3.1k Cr |
| Capital work in progress | ₹0 Cr | ₹80 Cr | ₹179 Cr | ₹239 Cr | ₹240 Cr |
| Investments | ₹59 Cr | ₹41 Cr | ₹9 Cr | ₹109 Cr | ₹113 Cr |
| Other assets | ₹4.9k Cr | ₹3.1k Cr | ₹3.4k Cr | ₹4.7k Cr | ₹5.1k Cr |
| Total assets | ₹5.0k Cr | ₹5.7k Cr | ₹6.0k Cr | ₹8.1k Cr | ₹8.6k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jul 2026
Since Jun 2025, promoters trimmed −11.87 pp while DIIs added +6.00 pp.
- Promoters
- 61.1%
- FIIs
- 12.1%
- DIIs
- 13.1%
- Public
- 13.6%
Since Jun 2025
- Promoters −11.87 pp
- DIIs +6.00 pp
- FIIs +5.31 pp
How it drifted, 6 quarters
Over this window promoters fell from 73.0% to 61.1% — −11.9 pp.
Ownership split by quarter, oldest first. Jun '25: Promoters 73.0%, FIIs 6.8%, DIIs 7.1%, Public 13.1%.Sep '25: Promoters 73.0%, FIIs 7.7%, DIIs 4.0%, Public 15.3%.Dec '25: Promoters 66.5%, FIIs 8.9%, DIIs 9.3%, Public 15.4%.Mar '26: Promoters 66.5%, FIIs 8.9%, DIIs 10.2%, Public 14.5%.Jun '26: Promoters 66.5%, FIIs 9.4%, DIIs 10.0%, Public 14.1%.Jul '26: Promoters 61.1%, FIIs 12.1%, DIIs 13.1%, Public 13.6%.
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Invesco India Flexi Cap Fund Mutual fund newly disclosed 1.52% held
- Government Pension Fund Global Sovereign newly disclosed 1.05% held
- Rajiv Kumar newly disclosed 1.05% held
The same filing shows 5 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jul 2026 filing
Every holder of Belrise Industries Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| Shrikant Shankar Badve | 54.80% | −4.76 pp |
| SBI Small Cap Fund Mutual fund | 5.14% | −0.44 pp |
| Supriya Shrikant Badve | 4.48% | −0.39 pp |
| Invesco India Flexi Cap Fund Mutual fund | 1.52% | newly disclosed |
| Sumedh Shrikant Badve | 1.50% | −0.13 pp |
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund | 1.08% | −0.10 pp |
| Government Pension Fund Global Sovereign | 1.05% | newly disclosed |
| Rajiv Kumar | 1.05% | newly disclosed |
| Swastid Shrikant Badve | 0.21% | unchanged |
| Badve Autocomps Private Limited | 0.11% | unchanged |
| Creative Tools & Press Components Private Limited | 0.04% | unchanged |
| Starkenn technologies Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in BELRISE
Filings to Aug 2026
0 new, 5 added, 1 trimmed, 0 sold out — net +0.14 L shares (+0.0%).
- Held by funds
- ₹1.4k Cr
- 10 schemes
- Biggest holder
- SBI Smallcap Fund
- ₹1.0k Cr · 2.4% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Smallcap Fund SBI Mutual Fund | ₹1.0k Cr | held | Dec '25 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹226 Cr | held | May '25 |
| SBI Automotive Opportunities Fund SBI Mutual Fund | ₹116 Cr | held | Dec '25 |
| SBI Resurgent India Opportunities Scheme SBI Mutual Fund | ₹21 Cr | held | Dec '25 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹14 Cr | +0.07 L | Mar '26 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹7 Cr | +0.03 L | Mar '26 |
| Nippon India Nifty 500 Momentum 50 Index Fund Nippon India Mutual Fund | ₹6 Cr | +0.04 L | Jun '26 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Mar '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 1 trimmed — net +14,423 shares (+0.0%)
- Funds are sitting on
- +41%
- vs est. average cost
- Held by funds
- ₹1.4k Cr
- 10 schemes · ≈ 6.5% of the company
- Biggest holder
- SBI Smallcap Fund
- ₹1.0k Cr · 2.4% of that fund
- Longest holder
- Nippon India Small Cap Fund
- 1y 4m · since May '25
Shares held by these funds +202%
May '25 6.04 cr shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Belrise Industries Limited
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