Belrise Industries Ltd
Incorporated in 1988, Belrise Industries Limited manufactures Automotive Sheet Metal and casting parts, Polymer components, Suspension, and mirror systems for automotives.[1]
- Market Cap ₹ 16,446 Cr.
- Current Price ₹ 185
- High / Low ₹ 194 / 89.2
- Stock P/E 36.0
- Book Value ₹ 54.2
- Dividend Yield 0.30 %
- ROCE 13.3 %
- ROE 13.8 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
Cons
- Stock is trading at 3.40 times its book value
- Promoter holding has decreased over last quarter: -6.55%
- The company has delivered a poor sales growth of 11.5% over past five years.
- Company has a low return on equity of 13.9% over last 3 years.
- Dividend payout has been low at 3.59% of profits over last 3 years
- Company's cost of borrowing seems high
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 2,857 | 3,828 | 4,007 | 4,897 | 5,395 | 6,033 | 6,594 | 7,220 | |
| 2,542 | 3,289 | 3,438 | 4,170 | 4,597 | 5,189 | 5,679 | 6,194 | |
| Operating Profit | 316 | 539 | 569 | 728 | 798 | 843 | 915 | 1,026 |
| OPM % | 11% | 14% | 14% | 15% | 15% | 14% | 14% | 14% |
| 156 | 36 | 28 | 25 | 38 | 62 | 65 | 82 | |
| Interest | 111 | 163 | 197 | 215 | 217 | 227 | 228 | 170 |
| Depreciation | 120 | 177 | 206 | 245 | 306 | 321 | 329 | 340 |
| Profit before tax | 240 | 234 | 194 | 293 | 313 | 358 | 423 | 598 |
| Tax % | 15% | 2% | 10% | 16% | 13% | 17% | 21% | |
| 205 | 230 | 175 | 247 | 271 | 295 | 332 | 452 | |
| EPS in Rs | 4.54 | 5.11 | 5.53 | |||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 11% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 10% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 8% |
| 3 Years: | 10% |
| TTM: | 63% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 14% |
| Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 20 | 20 | 326 | 326 | 445 |
| Reserves | 776 | 1,242 | 1,416 | 1,685 | 1,946 | 1,920 | 2,252 | 4,382 |
| 1,516 | 1,973 | 2,382 | 2,632 | 2,353 | 2,254 | 2,706 | 1,151 | |
| 326 | 677 | 742 | 743 | 828 | 1,086 | 1,235 | 1,380 | |
| Total Liabilities | 2,638 | 3,913 | 4,561 | 5,080 | 5,148 | 5,585 | 6,518 | 7,358 |
| 1,342 | 1,834 | 2,026 | 2,458 | 2,427 | 2,459 | 2,704 | 2,856 | |
| CWIP | 332 | 330 | 295 | 120 | 80 | 179 | 263 | 236 |
| Investments | 35 | 38 | 43 | 70 | 53 | 21 | 354 | 369 |
| 929 | 1,710 | 2,198 | 2,432 | 2,589 | 2,927 | 3,197 | 3,898 | |
| Total Assets | 2,638 | 3,913 | 4,561 | 5,080 | 5,148 | 5,585 | 6,518 | 7,358 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 520 | 97 | 369 | 756 | 762 | 654 | ||
| -550 | -289 | -439 | -198 | -360 | -1,019 | ||
| 34 | 203 | 39 | -496 | -328 | 223 | ||
| Net Cash Flow | 5 | 11 | -31 | 63 | 74 | -142 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 50 | 45 | 62 | 47 | 52 | 48 | 58 |
| Inventory Days | 33 | 40 | 51 | 41 | 41 | 47 | 50 |
| Days Payable | 31 | 50 | 48 | 45 | 41 | 54 | 61 |
| Cash Conversion Cycle | 51 | 34 | 65 | 43 | 52 | 42 | 46 |
| Working Capital Days | 74 | 74 | 39 | 36 | 33 | 30 | 36 |
| ROCE % | 11% | 12% | 12% | 13% | 13% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Credit Rating
12 Feb - Crisil assigns/reaffirms 'AA-/Stable' and 'A1+' to BIL; NCDs Rs130/50Cr, CP Rs100Cr; bank facilities Rs3211Cr.
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Statement Of Deviations Or Variation In Utilization Of Funds Raised Through, Initial Public Offerings ('IPO') For The Quarter Ended December 31, 2025.
9 Feb - SEBI disclosure: IPO gross ₹21,500mn; ₹20,281.85mn utilized; ₹679.43mn unutilized as of Dec 31, 2025.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
7 Feb - Transcript of Earning Call pertaining to the unaudited Financial Results of the Company for the quarter and nine months ended December 31,2025
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Disclosure Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Incorporation Of A Step-Down Wholly-Owned Subsidiary (WOS)
7 Feb - Belrise UK Holdings Ltd incorporated Feb 6, 2026 in UK; 100% step-down WOS of Belrise Industries.
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Transcript of Earnings Call
7 Feb - Belrise Industries Ltd has submitted to BSE a copy of Transcript of Earnings Call pertaining to the Unaudited Financial Results of the Company for the …
Concalls
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Feb 2026TranscriptPPT
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Aug 2025TranscriptPPT
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Aug 2025Transcript PPT REC
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Jun 2025Transcript PPT REC
Business Profile[1]
The company is a leading automotive component manufacturer, offering safety-critical systems and engineering solutions for 2-wheelers, 3-wheelers, 4-wheelers (passenger and commercial), and agricultural vehicles. Its operations extend across India and key international markets, including Austria, Slovakia, the UK, Japan, and Thailand.