Pune: Integrated automotive component manufacturer Belrise Industries Limited (formerly Badve Engineering Limited) has reported a strong start to FY26 with robust growth in revenue and operational expansion (Belrise Industries Q1 FY26).
The company announced its unaudited financial results for the quarter ended 30 June 2025.
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Belrise Industries Q1 FY26: Financial Performance
- Total Revenue from Operations: ₹22,622 million, up 27% year-on-year.
- Manufacturing Revenue: ₹18,323 million, up 29% from ₹14,247 million in Q1 FY25, comprising 81% of total revenue.
- Manufacturing EBITDA: ₹2,536 million, a 17% increase from ₹2,160 million last year, with margins at 13.8%.
- EBITDA (Overall): ₹2,805 million with margins at 12.4%.
- Exports Contribution: 5.4% of manufacturing revenue.
- Powertrain-Neutral Products: Accounted for 72.7% of manufacturing revenue.
- RoACE: 14.4%.
- Debt Reduction: ₹15,960 million repaid from IPO proceeds, bringing Net Debt/Equity down from 0.98x in Q1 FY25 to 0.16x in Q1 FY26. Net debt as of 30 June 2025 stood at ₹7,698 million.
Belrise Industries Q1 FY26: Operational Milestones
- Chennai Plant Commissioned: Supplies commenced to a premium two-wheeler OEM and a leading commercial vehicle OEM; scaling expected over the next 2–3 quarters.
- 2-Wheeler Segment: Pilot production started for steering columns for a European OEM and CBS systems for a top-4 electric two-wheeler OEM; signed GPA with a top-4 e-2W OEM.
- 4-Wheeler Segment: Integration of H-One India underway; developing chassis program for a Japanese OEM.
- Commercial Vehicles: Entered the M&HCV segment with chassis part orders, increasing content per vehicle by ₹23,000.
- Defense Sector: Secured first orders from Indian and Israeli defense OEMs; won additional orders from another Indian defense OEM.
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Shrikant Badve, Managing Director, said: “Belrise Industries Q1 FY26 marked a strong start to the year, with growth driven by proprietary products, operational expansion, and successful integration of acquisitions. Our new Chennai facility is now a key supply hub for marquee OEMs, and with capacity expansions in Pune and Bhiwadi, we are well-positioned to outpace industry growth in the coming years.”
The company’s transformation into a Tier-0.5 system supplier continues, supported by strategic acquisitions including H-One India and Mag Filters’ plastic components business.
Belrise anticipates steady industry growth in FY26, driven by 2W and PV demand, and aims to deepen OEM partnerships, scale operations in 4W and CV segments, and maintain financial discipline.
