Belding India Ltd

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Belding India Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Belding India Ltd

₹ 1,019 -2.11%
04 Sep - close price
belding.ltd BSE: 513307
About

Belding India Ltd (formerly Synthiko Foils Ltd) is a Pune-based engineering and technology group focused on data-centre EPC/modular infrastructure, battery energy storage systems, precision/OEM manufacturing, defence solutions and X-ray security screening. [1]

Key Points

Business transformation
Incorporated in 1984, the company changed control in 2025 and was renamed Belding India on February 23, 2026. The old foil business was sold for ₹9.51 cr and later classified as discontinued.[1] [2]

Website BSE
  • Market Cap ₹ 1,475 Cr.
  • Current Price ₹ 1,019
  • High / Low ₹ 2,400 / 447
  • Stock P/E
  • Book Value ₹ 726
  • Dividend Yield 0.00 %
  • ROCE -0.15 %
  • ROE -0.16 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -0.07% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Aluminium, Copper & Zinc Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
7.13 6.03 6.53 6.13 6.40 5.46 4.99 4.31 0.00 0.00 0.00 0.00 0.00
7.03 5.79 6.36 5.87 5.89 5.44 4.90 4.39 0.00 0.22 0.53 0.35 0.29
Operating Profit 0.10 0.24 0.17 0.26 0.51 0.02 0.09 -0.08 0.00 -0.22 -0.53 -0.35 -0.29
OPM % 1.40% 3.98% 2.60% 4.24% 7.97% 0.37% 1.80% -1.86%
0.00 0.07 0.03 0.00 0.00 0.04 0.00 -0.04 2.34 0.09 0.08 0.14 0.11
Interest 0.08 0.12 0.12 0.09 0.05 0.02 0.01 0.00 0.00 0.00 0.00 0.01 0.00
Depreciation 0.04 0.04 0.04 0.03 0.03 0.03 0.03 0.04 0.00 0.00 0.00 0.00 0.00
Profit before tax -0.02 0.15 0.04 0.14 0.43 0.01 0.05 -0.16 2.34 -0.13 -0.45 -0.22 -0.18
Tax % 0.00% 20.00% 25.00% 35.71% 23.26% 0.00% 40.00% -18.75% 0.00% -92.31% 0.00% 18.18% 0.00%
-0.02 0.11 0.03 0.10 0.33 0.01 0.03 -0.13 2.34 -0.02 -0.45 -0.26 -0.18
EPS in Rs -0.22 1.22 0.33 1.11 3.67 0.11 0.33 -1.44 26.00 -0.22 -0.31 -0.18 -0.12
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
20.63 17.28 17.29 21.48 30.54 31.34 26.06 29.55 25.65 25.82 21.16 0.00 0.00
19.64 16.20 16.48 20.47 29.33 30.18 25.05 27.80 24.95 25.05 20.62 1.15 1.39
Operating Profit 0.99 1.08 0.81 1.01 1.21 1.16 1.01 1.75 0.70 0.77 0.54 -1.15 -1.39
OPM % 4.80% 6.25% 4.68% 4.70% 3.96% 3.70% 3.88% 5.92% 2.73% 2.98% 2.55%
0.51 0.21 0.40 0.40 0.22 0.24 0.36 0.18 0.01 0.10 0.00 2.83 0.42
Interest 0.77 0.75 0.67 0.64 0.65 0.54 0.51 0.43 0.27 0.41 0.08 0.02 0.01
Depreciation 0.21 0.24 0.23 0.19 0.18 0.25 0.36 0.27 0.21 0.15 0.13 0.00 0.00
Profit before tax 0.52 0.30 0.31 0.58 0.60 0.61 0.50 1.23 0.23 0.31 0.33 1.66 -0.98
Tax % 15.38% 33.33% 32.26% 27.59% 26.67% 22.95% 22.00% 26.02% 26.09% 25.81% 24.24% 2.41%
0.45 0.19 0.21 0.42 0.44 0.46 0.38 0.92 0.17 0.22 0.24 1.63 -0.91
EPS in Rs 5.62 2.11 2.33 4.67 4.89 5.11 4.22 10.22 1.89 2.44 2.67 1.13 -0.83
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -100%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -911%
Stock Price CAGR
10 Years: 39%
5 Years: 66%
3 Years: 64%
1 Year: 128%
Return on Equity
10 Years: 0%
5 Years: 0%
3 Years: 0%
Last Year: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.86 0.87 0.87 0.87 0.87 0.87 0.87 0.87 0.87 0.87 0.87 14.48
Reserves 1.74 1.93 2.14 2.57 3.01 3.47 3.85 4.77 4.93 5.15 5.39 1,037.30
4.53 4.71 0.68 0.48 0.47 0.39 1.57 0.77 0.46 0.00 0.00 1.22
3.42 2.62 9.39 7.81 6.49 6.66 5.04 5.59 4.24 1.74 0.76 0.70
Total Liabilities 10.55 10.13 13.08 11.73 10.84 11.39 11.33 12.00 10.50 7.76 7.02 1,053.70
2.14 2.16 1.94 1.82 1.79 2.23 1.90 1.71 1.50 1.16 1.04 0.00
CWIP 0.12 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.21 0.18 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,047.09
8.08 7.79 11.10 9.91 9.05 9.16 9.43 10.29 9.00 6.60 5.98 6.61
Total Assets 10.55 10.13 13.08 11.73 10.84 11.39 11.33 12.00 10.50 7.76 7.02 1,053.70

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-0.01 -0.13 0.07 0.06 -0.55 1.03 -0.72 0.26 -0.23 2.04 2.36 1.82
-0.17 -0.04 0.23 0.04 -0.11 -0.66 -0.01 -0.07 0.01 0.19 -0.02 -2.59
0.71 0.26 -0.23 -0.31 0.48 -0.45 0.75 -0.51 0.11 -2.28 -1.66 0.12
Net Cash Flow 0.53 0.10 0.07 -0.21 -0.18 -0.08 0.02 -0.32 -0.11 -0.05 0.68 -0.66
Free Cash Flow -0.31 -0.27 0.06 0.00 -0.71 0.34 -0.76 0.18 -0.23 2.23 2.34 1.82
CFO/OP -1% -12% 9% 6% -45% 89% -71% 15% -33% 265% 437% -204%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 71.48 87.03 96.90 86.49 72.55 64.75 74.93 71.02 78.41 52.30 56.06
Inventory Days 51.93 60.66 124.23 84.75 33.10 41.05 60.23 64.16 55.49 46.57 39.27
Days Payable 50.85 47.30 128.20 71.01 20.43 26.45 15.96 15.03 6.02 4.36 1.03
Cash Conversion Cycle 72.56 100.39 92.92 100.23 85.22 79.35 119.21 120.16 127.88 94.52 94.30
Working Capital Days 12.21 17.53 19.42 26.17 26.89 25.39 50.42 53.98 66.03 71.81 82.28
ROCE % 19.01% 14.34% 17.50% 32.06% 30.23% 25.33% 18.33% 26.14% 7.89% 11.73% 6.68% -0.15%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Closing Stock of Raw Materials (Aluminum Foils & Packing)
MT

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Production Volume - Aluminum Foils & Packing
MT
Raw Material Consumed (Aluminum Jumbo Rolls)
MT
Number of Permanent Employees
employees

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

3 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
52.28% 52.28% 52.28% 52.28% 52.28% 52.28% 52.28% 52.28% 52.28% 55.78% 55.78% 55.78%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.71% 3.60% 0.20%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6.35% 6.36% 6.36%
47.72% 47.71% 47.72% 47.72% 47.72% 47.72% 47.73% 47.73% 47.72% 34.15% 34.25% 37.67%
No. of Shareholders 1,9432,0812,1572,2322,3822,4082,2652,1362,0331,2391,4541,533

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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