---
title: "Belding India Ltd (513307) — Share Price, Financials & Analysis"
symbol: "513307"
company: "Belding India Ltd"
canonical: "https://tapetide.com/stocks/513307"
isin: "INE363L01045"
nse_symbol: "SYNTHIKOFOILSLTD"
bse_code: "513307"
sector: "Capital Goods"
industry: "Industrial Products"
market_cap_cr: 1431.98
generated_at: "2026-09-13T18:58:51.179Z"
---

# Belding India Ltd (513307)

Canonical page: https://tapetide.com/stocks/513307

## Company

- **NSE Symbol:** SYNTHIKOFOILSLTD
- **BSE Code:** 513307
- **ISIN:** INE363L01045
- **Sector:** Capital Goods
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** belding.ltd

## About

Belding India Ltd (formerly Synthiko Foils Ltd) is a Pune-based engineering and technology group focused on data-centre EPC/modular infrastructure, battery energy storage systems, precision/OEM manufacturing, defence solutions and X-ray security screening. [1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:48:30.331526Z.

- **Market Cap:** ₹1431.98 Cr
- **Classification:** Microcap
- **P/E (reported):** -142.9
- **EPS (TTM):** ₹-6.13
- **Book Value:** ₹724.75
- **Price to Book:** 1.36
- **Dividend Yield:** 0%
- **ROE:** 3.85%
- **ROCE:** 6.29%
- **Debt to Equity:** 0.04
- **Revenue (yearly):** ₹0 Cr
- **Net Income:** ₹-0.83 Cr
- **EBITDA:** ₹-1.15 Cr
- **52-Week High:** ₹2400
- **52-Week Low:** ₹223.4
- **RSI (14):** 42.69

## Key Insights

### Strengths

- Company is almost debt free.

### Weaknesses

- Company has low interest coverage ratio.
- Earnings include an other income of Rs.8.24 Cr.
- Company has high debtors of 41,853 days.
- Working capital days have increased from 3,14,732 days to 6,29,382 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 15.69% | — | 427.78% |
| ebitda margin growth | -123.64% | -100% | -100% | -100% |
| net income growth | 12.77% | -515% | -515% | -192.22% |
| revenue growth | -50% | -100% | -100% | -100% |
| roce | — | -44.73% | -21.08% | 13.82% |
| roe | — | 6.35% | 3.44% | -52.23% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2011 | Mar 2012 | Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 2.82 | 3.31 | 4.99 | 0 | 0 | 0 | 0.03 | 0.22 |
| Expenses | 2.69 | 3.05 | 4.9 | 0 | 0.22 | 0.74 | -0.15 | 4.02 |
| Operating Profit | 0.13 | 0.26 | 0.09 | 0 | -0.22 | -0.74 | 0.18 | -3.8 |
| OPM % | 4.61 | 7.85 | 1.8 | — | — | — | 600 | -1727.27 |
| Other Income | 0.1 | 0 | 0 | -0.13 | 0.09 | 0.33 | 5.35 | 2.47 |
| Interest | 0.11 | 0.18 | 0.01 | 0 | 0 | 0.26 | 1.03 | 0.97 |
| Depreciation | 0.05 | 0.04 | 0.03 | 0 | 0 | 0.6 | 1.51 | 1.77 |
| Profit before tax | 0.07 | 0.04 | 0.05 | -0.13 | -0.13 | -1.27 | 2.99 | -4.07 |
| Tax % | 0 | 0 | 40 | 0 | -92.31 | -3.94 | 255.52 | 1.47 |
| Net Profit | 0.06 | 0.03 | 0.03 | -0.13 | -0.02 | -1.22 | -4.65 | -4.13 |
| EPS in Rs | 0.75 | 0.38 | 0.33 | -1.44 | -0.22 | -0.84 | -2.86 | -2.21 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- |
| Sales | 21 | 0 | 0 |
| Expenses | 21 | 1 | 5 |
| Operating Profit | 1 | -1 | -5 |
| OPM % | 2.5 | -2600 | -1832 |
| Other Income | 0 | 8 | 8 |
| Interest | 0 | 1 | 2 |
| Depreciation | 0 | 2 | 4 |
| Profit before tax | 0 | 4 | -2 |
| Tax % | 24 | 187 | — |
| Net Profit | 0 | -4 | -10 |
| EPS in Rs | 2.67 | -2.09 | -6.13 |
| Dividend Payout % | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2025 | Mar 2026 |
| --- | --- | --- |
| Equity Capital | 0.87 | 14 |
| Reserves | 5 | 1035 |
| Borrowings | 0 | 38 |
| Other Liabilities | 0 | 56 |
| Total Liabilities | 7 | 1144 |
| Fixed Assets | 1 | 651 |
| CWIP | 0 | 196 |
| Investments | 0 | 0 |
| Other Assets | 6 | 297 |
| Total Assets | 7 | 1144 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2025 | Mar 2026 |
| --- | --- | --- |
| Cash from Operating Activity | 2 | 36 |
| Cash from Investing Activity | 0 | -1091 |
| Cash from Financing Activity | -2 | 1056 |
| Net Cash Flow | 1 | 0 |
| Free Cash Flow | 2 | -24 |
| CFO/OP | 439 | -4683 |

### Ratios

| Item | Mar 2025 | Mar 2026 |
| --- | --- | --- |
| Debtor Days | 49 | 41853 |
| Inventory Days | 39 | — |
| Days Payable | 1 | — |
| Cash Conversion Cycle | 88 | 41853 |
| Working Capital Days | 82 | 629382 |
| ROCE % | — | 1 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 52.28% | 52.28% | 52.28% | 52.28% | 52.28% | 52.28% | 52.28% | 52.28% | 52.28% | 55.78% | 55.78% | 55.78% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 3.72% | 3.61% | 0.2% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 6.35% | 6.36% | 6.36% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 45.12% | 44.87% | 44.94% | 44.86% | 45.02% | 44.94% | 44.79% | 44.91% | 44.85% | 18.77% | 19.12% | 19.21% |
| Others | 2.6% | 2.84% | 2.78% | 2.86% | 2.7% | 2.78% | 2.93% | 2.81% | 2.87% | 15.39% | 15.13% | 18.46% |
| No. of Shareholders | 1943 | 2081 | 2157 | 2232 | 2382 | 2408 | 2265 | 2136 | 2033 | 1230 | 1454 | 1533 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 4 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1013.78 | Sell |
| EMA (10) | 1002.26 | Sell |
| SMA (20) | 1008.3 | Sell |
| EMA (20) | 1008.92 | Sell |
| SMA (50) | 1056.22 | Sell |
| EMA (50) | 1080.25 | Sell |
| SMA (100) | 1236.53 | Sell |
| EMA (100) | 1193.93 | Sell |
| SMA (200) | 1461.28 | Sell |
| EMA (200) | 1185.09 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.49 | Neutral |
| MACD (12,26,9) | -13.97 | Buy |
| Stochastic (14,3,3) | 9.44 | Buy |
| ADX (14) | 17.5 | Neutral |
| Williams %R (14) | -91.69 | Buy |
| ATR (14) | 41.9 | High Volatility |
| ROC (12) | -4.06 | Sell |
| Stoch RSI (14) | 2.22 | Buy |
| UO (7,14,28) | 34.63 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=71d8af45-b6e0-42d9-9386-2661b38afa7f.pdf) |
| 2026-09-08 | [Board Meeting Outcome for Appointment Of Company Secretary And Compliance Officer](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=03954e35-de33-4173-9e17-f302b6e2fdca.pdf) |
| 2026-09-08 | [Appointment of Company Secretary and Compliance Officer](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dbe40d4a-ef38-485e-9451-01a967e511c4.pdf) |
| 2026-09-08 | [Notice Of 41St Annual General Meeting Scheduled To Be Held On September 30 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6b458174-9fd9-44d9-9dcb-c0246ae55e0a.pdf) |
| 2026-09-08 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=91666ea4-046d-4036-a5da-52c2a4952cf0.pdf) |
| 2026-09-08 | [Business Responsibility and Sustainability Reporting (BRSR)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=57058f97-4502-4bc2-b37c-5fbc723951a0.pdf) |
| 2026-09-08 | [Issuance Of Letters To Shareholders Under Regulation 36(1)(B) Of SEBI (LODR) Regulations 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=df4f25a7-a3e8-48d2-ae11-83e1797399f4.pdf) |
| 2026-08-22 | [Shareholder Meeting / Postal Ballot-Scrutinizer"s Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5017ae73-5ad2-4f48-b00f-abe38e06d6c5.pdf) |
| 2026-08-22 | [Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c1929dcd-6f2d-48eb-a58a-72611c29e98e.pdf) |
| 2026-08-22 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=79490015-d34f-4574-aa03-2b296fc3fd61.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-07-30 | [Unaudited Standalone And Consolidated Financial Results For The Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=89ed8cf9-2f94-42e7-afe3-c5aa1a02e9b6.pdf) |
| 2026-05-23 | [Audited Standalone And Consolidated Financial Results For The Quarter And Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1e05d3db-4b9e-43ca-bc23-58d98509b9f0.pdf) |
| 2026-02-12 | [Unaudited Standalone And Consolidated Financial Results For The Quarter And Nine Months Ended December 31 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b33070fd-ba5d-4df0-b982-5aacb00f9482.pdf) |
| 2025-11-14 | [Unaudited Financial Results For The Quarter And Half Year Ended 30Th September 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0bf6742b-39fc-4aa7-9513-d079897e1157.pdf) |
| 2025-08-08 | [Financial Results For The Quarter Ended 30Th June 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4486bfb7-aca7-49bd-9755-3d299c79fee2.pdf) |
| 2025-05-29 | [Financial Results For The Quarter Ended And Year Ended 31St March 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e02f22ce-8c5a-4d9a-8b87-c56cc8009c79.pdf) |
| 2025-02-14 | [Financial Results For The Quarter Ended 31-12-2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=15466ffc-6e26-4d4d-8114-49a2838d8c38.pdf) |
| 2024-11-14 | [Financial Results For The Quarter Ended 30Th September, 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ff28b68c-3aec-43ae-9549-761880dcfea7.pdf) |
| 2024-08-14 | [Financial Results For The Quarter Ended 30Th June, 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fe5e219c-f4d4-4212-bb7e-158681ce9623.pdf) |
| 2024-05-30 | [Approval Of Audited Financial Results For The Quarter And Year-Ended.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ab23fcde-32f9-42ca-8352-b2c471fead55.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 8 November 2025 - Audio recording of H1 FY26 (ended Sep 30, 2025) earnings conference call available online. | [Analysts/Institutional Investor Meet/Con. Call Updates 8 November 2025 - Audio recording of H1 FY26 (ended Sep 30, 2025) earnings conference call available online.](https://nsearchives.nseindia.com/corporate/APS_08112025102542_AudioRecordingH1FY26.pdf) |
| 6 November 2025 - Investor presentation H1 FY26: Total income Rs302.93cr, EBITDA Rs43.28cr, PAT Rs28.60cr, dated Nov 6, 2025. | [Investor Presentation 6 November 2025 - Investor presentation H1 FY26: Total income Rs302.93cr, EBITDA Rs43.28cr, PAT Rs28.60cr, dated Nov 6, 2025.](https://nsearchives.nseindia.com/corporate/APS_06112025115003_InvestorPresentationH1FY26.pdf) |
| 6 May - Company website domain changed from www.synthikofoilsltd.com to www.belding.ltd. | [Intimation Of Change In Website Of The Company. 6 May - Company website domain changed from www.synthikofoilsltd.com to www.belding.ltd.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/ba93f397-abe8-4714-a69a-742ff0c2b9e6.pdf) |
| 6 January 2026 - Confirmation certificate under Reg 74(5) for quarter ended 31 Dec 2025 by MUFG Intime. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 6 January 2026 - Confirmation certificate under Reg 74(5) for quarter ended 31 Dec 2025 by MUFG Intime.](https://nsearchives.nseindia.com/corporate/APS_06012026113509_ConfirmationCertificateREG74.pdf) |
| 5 March 2026 - Virtual analyst meeting with Arihant Capital on March 11, 2026, 10:00–11:00 IST. | [Analysts/Institutional Investor Meet/Con. Call Updates 5 March 2026 - Virtual analyst meeting with Arihant Capital on March 11, 2026, 10:00–11:00 IST.](https://nsearchives.nseindia.com/corporate/APS_05032026141845_InvestorMeet.pdf) |
| 5 Mar - DC&T Global bought 55% of Metafin (12,223 shares at Rs.1,220) for Rs.1.49 crore on 5 Mar 2026. | [Announcement under Regulation 30 (LODR)-Acquisition 5 Mar - DC&T Global bought 55% of Metafin (12,223 shares at Rs.1,220) for Rs.1.49 crore on 5 Mar 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/11db50ad-6a2c-4c56-90c6-d7fe0b588bce.pdf) |
| 30 Mar - Trading window closed from April 1, 2026 until 48 hours after March 31, 2026 results declaration. | [Closure of Trading Window 30 Mar - Trading window closed from April 1, 2026 until 48 hours after March 31, 2026 results declaration.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bd2292e9-7e51-4e61-8eed-d8edbbe83e74.pdf) |
| 3 November 2025 - H1 FY26 earnings conference call scheduled Nov 07, 2025 at 10:30 AM IST; registration link provided. | [Analysts/Institutional Investor Meet/Con. Call Updates 3 November 2025 - H1 FY26 earnings conference call scheduled Nov 07, 2025 at 10:30 AM IST; registration link provided.](https://nsearchives.nseindia.com/corporate/APS_03112025173009_InvestorsMeetH1FY26.pdf) |
| 23 Feb - ROC approved name change from Synthiko Foils Limited to Belding India Limited effective 23-Feb-2026. | [Announcement under Regulation 30 (LODR)-Change of Company Name 23 Feb - ROC approved name change from Synthiko Foils Limited to Belding India Limited effective 23-Feb-2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e214973e-b8b9-4c60-b6cb-0f43dceed308.pdf) |
| 19 Mar - Company renamed from Synthiko Foils Limited to Belding India Limited; SCRIP ID BELDING effective March 19, 2026. | [Announcement under Regulation 30 (LODR)-Change of Company Name 19 Mar - Company renamed from Synthiko Foils Limited to Belding India Limited; SCRIP ID BELDING effective March 19, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/16870266-5830-4ced-83a5-b78889cbc667.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2024 | [Concall - Oct 2024](https://nsearchives.nseindia.com/corporate/APS_30102024145849_IntimationofTranscriptofMeeting.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/APS_27052025142059_TranscriptofH2FY25.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://nsearchives.nseindia.com/corporate/APS_30072025172048_InvestorPrenestationQ1FY26.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://nsearchives.nseindia.com/corporate/APS_21022025120215_IntimationofTransciptofMeet.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://nsearchives.nseindia.com/corporate/APS_04082025155248_TransciptofEarningsCall30062025.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28600_APS_2024_2025_A_4738638_05092025172330.pdf) |
| from nse | [Financial Year 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25909_APS_2023_2024_05092024202428.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ef2a707b-7135-4fd2-907a-49ccf2ef047b.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/721196eb-a9d2-41b6-9976-acfc1ebae745.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b6d96f8e-ce03-4dc0-b8a7-43536f4df43c.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/513307/76593513307.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/513307/70934513307.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/513307/66370513307.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/513307/5133070319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/513307/5133070318.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:58:51.179Z.