Belrise Industries Reports Net Profit Growth of Over 500% in Q4 FY25

Belrise Industries Limited reported net profit of Rs 110 crore for the quarter ended March 31, 2025, representing growth of more than six times compared to the same period last year. The Pune-based automotive component manufacturer announced its audited financial results on June 16, 2025.

For the full fiscal year 2025, the company recorded total revenue from operations of Rs 82,908 million, with manufacturing activities contributing Rs 65,938 million, marking a 9% increase from Rs 60,330 million in the previous year. Manufacturing revenue represented 80% of total revenue during the period.

The company maintained manufacturing EBITDA margins at 14.2%, with manufacturing EBITDA reaching Rs 9,372 million compared to Rs 8,545 million in FY24, an increase of 10%. Overall EBITDA margin for the company stood at 12.3% for the fiscal year.

Belrise Industries, formerly known as Badve Engineering Limited, operates as an integrated automotive component manufacturer with a portfolio focused on safety-critical systems and engineering solutions. The company's manufacturing revenue breakdown shows two-wheelers contributing 81.3%, commercial vehicles 7.3%, passenger vehicles 4.4%, three-wheelers 3.6%, and other segments 3.5%.

During FY25, the company completed two strategic acquisitions to expand its capabilities. In October 2024, Belrise entered a Business Transfer Agreement with Mag Filters to acquire their plastic component manufacturing business for Rs 1,650 million, establishing the company's presence in the air filter segment for two-wheelers, three-wheelers, and passenger vehicles.

In March 2025, the company acquired a 93.37% stake in H-One India Private Limited, a subsidiary of Japan's H-One Company Limited, for Rs 1,900 million. This acquisition provides access to high-tensile steel manufacturing capabilities, five transfer press lines up to 1,500 MT capacity, and 65 high-speed robots. The deal also adds one new Japanese four-wheeler original equipment manufacturer to Belrise's customer base and increases penetration with two existing Japanese two-wheeler OEMs.

The company utilized proceeds from its initial public offering to repay debt of approximately Rs 15,960 million, which management expects will reduce interest costs and improve debt ratios going forward.

Managing Director Shrikant Badve stated that 73% of the company's manufacturing portfolio consists of powertrain-neutral products, positioning the company to serve both internal combustion engine and electric vehicle platforms. He noted the company's transition from a Tier-1 subsystem supplier to a Tier 0.5 system supplier, resulting in an increased share of systems and sub-assemblies that require greater engineering input.

Belrise Industries reported return on average capital employed of 14.9% and return on average equity of 14.1% for FY25, though these figures exclude the recently acquired H-One India operations due to the timing of the acquisition.

The company expects to grow at mid-teen levels in FY26, supported by relationships with Tier-1 original equipment manufacturers and planned expansion in four-wheeler and commercial vehicle segments.