Belrise Industries Ltd. (CMP ₹236.00, NSE: BELRISE)
The SmartWay Research Desk | 3 August 2026

Belrise Industries Ltd., headquartered in Pune, is a leading automotive components manufacturer. The company operates across braking systems, suspension parts, precision engineering, and EV components, supplying major OEMs in India and abroad.

Promoter Holding (Mar 2026): Badave Family — 49.8% stake (no pledges)

FY22–FY26 Snapshot
Revenue Growth: FY26 revenue ₹4,842 Cr vs ₹4,212 Cr in FY25 (+15.0% YoY). → Good

Net Profit: FY26 PAT ₹412 Cr vs ₹362 Cr in FY25 (+13.8% YoY). → Good

Operating Margin: FY26 EBITDA ₹812 Cr, margin 16.8% vs 16.2% last year (+60 bps). → Good

Equity Capital: Stable, face value ₹10. → Good

Dividend Policy: Dividend ₹4.00/share declared for FY26. → Good

Asset Building: Investments in EV braking systems and advanced safety solutions. → Good

Sales: Strong demand from OEMs in passenger and commercial vehicles. → Good

Expense: Raw material cost pressures (steel, alloys) remain. → Neutral/Good

EPS: FY26 EPS ₹12.25 vs ₹10.80 last year (+13.4%). → Good

Institutional Interest & Ownership Trends (Mar 2026)
Promoter Holding: 49.8% (no pledges)

FII Holding: 18.12%

DII Holding: 20.34%

Retail & Others: 11.74%

Strategic Moves & Innovations
Expansion in EV braking and suspension systems.

Focus on lightweight materials and precision engineering.

Partnerships with global OEMs for safety solutions.

Diversification into aftermarket and export markets.

Cash Flow & Balance Sheet Strength
Market cap ~₹9,800 Cr.

Debt‑to‑equity ratio ~0.42 (moderate leverage).

Book value per share ₹82.40; P/B ~2.9.

EPS (TTM) ₹12.25; P/E ~19.3.

Risk Factors
Moderate P/E ratio ~19.3, valuations fair.

Dependence on automotive demand cycles.

Exposure to commodity price volatility.

Competition from Motherson Sumi, Endurance Technologies, and Bosch India.

Investor Takeaway
Belrise Industries has delivered steady FY26 performance, supported by OEM demand, EV component expansion, and safety system innovation. With strong promoter backing, dividend payouts, and leadership in braking solutions, Belrise remains a mid‑cap auto ancillary play. At CMP ₹236.00, valuations are reasonable (P/E ~19.3, P/B ~2.9), reflecting growth expectations with manageable risks.