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 ₹ 15,716 Cr.
- Current Price ₹ 177
- High / Low ₹ 201 / 89.2
- Stock P/E 32.7
- Book Value ₹ 55.9
- Dividend Yield 0.31 %
- ROCE 14.3 %
- ROE 14.1 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
Cons
- Stock is trading at 3.16 times its book value
- Promoter holding has decreased over last quarter: -6.55%
- 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 5,397 | 6,582 | 7,484 | 8,291 | 9,231 | |
| 4,642 | 5,707 | 6,556 | 7,270 | 8,091 | |
| Operating Profit | 755 | 875 | 928 | 1,021 | 1,140 |
| OPM % | 14% | 13% | 12% | 12% | 12% |
| 14 | 38 | 59 | 62 | 94 | |
| Interest | 216 | 250 | 290 | 307 | 250 |
| Depreciation | 246 | 307 | 321 | 330 | 352 |
| Profit before tax | 307 | 357 | 376 | 446 | 631 |
| Tax % | 15% | 12% | 17% | 20% | |
| 262 | 314 | 314 | 355 | 477 | |
| EPS in Rs | 4.82 | 5.46 | 5.81 | ||
| Dividend Payout % | 0% | 0% | 0% | 10% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 15% |
| TTM: | 22% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 11% |
| TTM: | 80% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 15% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 326 | 326 | 445 |
| Reserves | 1,715 | 2,024 | 2,015 | 2,371 | 4,526 |
| 2,632 | 2,353 | 2,504 | 2,964 | 1,418 | |
| 828 | 1,281 | 1,197 | 1,565 | 1,698 | |
| Total Liabilities | 5,196 | 5,679 | 6,042 | 7,225 | 8,087 |
| 2,460 | 2,429 | 2,460 | 2,900 | 3,044 | |
| CWIP | 120 | 80 | 179 | 263 | 239 |
| Investments | 59 | 41 | 9 | 109 | 109 |
| 2,557 | 3,130 | 3,393 | 3,954 | 4,695 | |
| Total Assets | 5,196 | 5,679 | 6,042 | 7,225 | 8,087 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 474 | 789 | 582 | 704 | |
| -543 | -194 | -362 | -981 | |
| 39 | -530 | -141 | 169 | |
| Net Cash Flow | -30 | 66 | 79 | -108 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 63 | 71 | 60 | 70 |
| Inventory Days | 40 | 39 | 38 | 42 |
| Days Payable | 48 | 65 | 48 | 59 |
| Cash Conversion Cycle | 55 | 45 | 49 | 54 |
| Working Capital Days | 34 | 31 | 40 | 34 |
| ROCE % | 14% | 14% | 14% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|
| Number of Manufacturing Facilities Number |
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| Capacity Utilization - Exhaust Systems % |
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| Capacity Utilization - Metal Frames (2W) % |
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| Capacity Utilization - Metal Frames (3W) % |
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| Total Production Volume (Pieces/Strokes) Million Units |
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| Aggregate Capacity Utilization % |
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| Content Per Vehicle (CPV) for 4W with H-One India INR |
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| Content Per Vehicle (CPV) Potential for 2W INR |
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| Market Share in Indian 2W Metal Components % |
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| Market Share in Indian 2W Polymer Products Segment % |
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| Market Share in Indian Polymer Products Segment % |
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| Number of International Markets Served Number |
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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.