Belrise Industries
Belrise Industries
AutomobilesKey Fundamentals
SmallcapAuto ComponentsAutomobilesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company has reduced debt.
- Company has delivered good profit growth of 22.5% CAGR over last 5 years
Weaknesses
4- Stock is trading at 3.99 times its book value
- Promoter holding has decreased over last quarter: -5.32%
- Company has a low return on equity of 13.1% over last 3 years.
- Working capital days have increased from 43.8 days to 65.4 days
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoBelrise Industries Ltd is an auto components company with a market cap of ₹21,894 Cr trading at a P/E of 43.6x. The company has delivered strong profit growth of 22% CAGR over 3 years and 23% over 5 years, while sales have compounded at 12-13%. However, the stock trades at 4x book value with a relatively modest ROE of 13% over 3 years, and working capital days have deteriorated from 43.8 to 65.4 days.
- Strong profit growth with 5-year compounded profit CAGR of 23%, significantly outpacing revenue growth and indicating margin expansion
- TTM profit growth accelerated to 34%, showing improving earnings momentum in the most recent period
- Consistent sales compounding at 12-13% across 3-year and 5-year periods, reflecting steady top-line growth in the auto components business
- Company has actively reduced its debt levels, strengthening the balance sheet and lowering financial risk
- ROE has remained stable at 13-14% across 3-year and 5-year horizons, indicating consistent return generation
- Stock has delivered 63% returns over the past 1 year, reflecting strong market recognition of the company's growth trajectory
- Dividend yield of 0.24% indicates the company has a dividend policy in place, returning some capital to shareholders while funding growth
- P/E of 43.6x is elevated for an auto components company, pricing in significant future growth and leaving limited margin of safety
- Stock trades at 4.0x book value (P/B of 3.19x per data, 4.0x per screener flag), which is rich relative to the 13% ROE the company generates
- Working capital days have deteriorated sharply from 43.8 days to 65.4 days, a 49% increase that ties up more cash in operations
- Promoter holding decreased by 5.32% in the last quarter, which may signal reduced insider confidence or dilution
- ROE of 13.1% over 3 years is relatively modest and does not strongly justify a 4x price-to-book valuation
- Sales growth of 12% TTM has not accelerated meaningfully compared to the 3-year and 5-year averages of 12-13%, suggesting a stable but not expanding growth rate
- Limited long-term track record data available — 10-year growth figures for sales, profit, and stock CAGR are not reported, making it harder to assess durability of performance
- Profit growth of 34% TTM significantly exceeds sales growth of 12% TTM, raising questions about sustainability of margin expansion going forward
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- ₹0.55 final dividend recommended Aug 20
Board recommended a final dividend of ₹0.55 per share for FY26, subject to shareholder approval at the AGM scheduled for September 30, 2026.
- AGM set for Sep 30 Sep 10
Belrise Industries scheduled its 30th AGM for September 30, 2026, where the ₹0.55 per share final dividend for FY26 will be put to shareholder vote.
- Investor meet on Sep 16 Sep 9
One-on-one and group investor meeting organized by Jefferies in Gurugram on September 16, 2026, under SEBI Regulation 30 disclosures.
- FY26 sustainability report filed Sep 8
Business Responsibility and Sustainability Report for FY26 submitted, covering operations across 25 locations with workforce, environmental, and governance data.
- New joint auditors for FY27-FY31 Sep 8
Board recommends Shailesh Haribhakti & Associates and Rathi Rathi and Co as joint statutory auditors for FY27-FY31, replacing outgoing GSA & Associates LLP.
- Analyst meet held Sep 8 Aug 27
Virtual group meeting with investors and analysts held on September 8, 2026 (3:00-4:00 pm), discussing publicly available information.
- Q4FY26 earnings call released Aug 17
Audio recording of the earnings call held on August 17, 2026 made available, covering unaudited financial results for the quarter ended June 30, 2026.
TL;DR: Belrise Industries shows steady corporate governance with regular investor engagement, timely filings, and a modest ₹0.55 per share dividend for FY26. No material headwinds emerged in recent newsflow. The auditor rotation to a five-year joint auditor arrangement and active analyst outreach via Jefferies suggest the company is building institutional visibility post-listing. Investors should watch the Sep 16 investor meet and AGM outcomes for forward guidance.
Quarterly Results
| Particulars | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,476 | 1,425 | 1,590 | 1,780 | 1,799 | 1,798 | 1,802 | 1,821 | 2,107 | 2,088 |
| Expenses | 1,284 | 1,209 | 1,376 | 1,548 | 1,545 | 1,542 | 1,542 | 1,565 | 1,826 | 1,820 |
| Operating Profit | 192 | 215 | 214 | 232 | 254 | 255 | 260 | 257 | 281 | 268 |
| OPM % | 13% | 15% | 13% | 13% | 14% | 14% | 14% | 14% | 13% | 13% |
| Other Income | 5 | 9 | 14 | 29 | 12 | 21 | 22 | 27 | 20 | 18 |
| Interest | 51 | 59 | 69 | 57 | 44 | 60 | 35 | 31 | 34 | 37 |
| Depreciation | 89 | 83 | 81 | 83 | 83 | 86 | 82 | 89 | 87 | 92 |
| PBT | 58 | 83 | 78 | 121 | 140 | 130 | 164 | 164 | 180 | 156 |
| Tax % | 15% | 21% | 17% | 25% | 21% | 21% | 25% | 29% | 24% | 27% |
| Net Profit | 49 | 66 | 65 | 91 | 110 | 103 | 123 | 117 | 136 | 114 |
| EPS in Rs | 0.75 | 1.01 | 1 | 1.4 | 1.69 | 1.15 | 1.38 | 1.31 | 1.53 | 1.28 |
Profit & Loss
| Particulars | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,857 | 3,828 | 4,007 | 4,897 | 5,395 | 6,033 | 6,594 | 7,528 | 7,819 |
| Expenses | 2,542 | 3,289 | 3,438 | 4,170 | 4,597 | 5,189 | 5,679 | 6,476 | 6,753 |
| Operating Profit | 316 | 539 | 569 | 728 | 798 | 843 | 915 | 1,053 | 1,065 |
| OPM % | 11% | 14% | 14% | 15% | 15% | 14% | 14% | 14% | 14% |
| Other Income | 156 | 36 | 28 | 25 | 38 | 62 | 65 | 90 | 87 |
| Interest | 111 | 163 | 197 | 215 | 217 | 227 | 228 | 160 | 138 |
| Depreciation | 120 | 177 | 206 | 245 | 306 | 321 | 329 | 344 | 350 |
| PBT | 240 | 234 | 194 | 293 | 313 | 358 | 423 | 638 | 664 |
| Tax % | 15% | 2% | 10% | 16% | 13% | 17% | 21% | 25% | — |
| Net Profit | 205 | 230 | 175 | 247 | 271 | 295 | 332 | 478 | 490 |
| EPS in Rs | — | — | — | — | — | 4.54 | 5.11 | 5.38 | 5.5 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 11% | 10% | — |
Balance Sheet
| Particulars | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 20 | 20 | 326 | 326 | 445 |
| Reserves | 776 | 1,242 | 1,416 | 1,685 | 1,946 | 1,920 | 2,252 | 4,639 |
| Borrowings | 1,516 | 1,973 | 2,382 | 2,632 | 2,353 | 2,254 | 2,706 | 1,237 |
| Other Liabilities | 326 | 677 | 742 | 743 | 828 | 1,086 | 1,235 | 1,553 |
| Total Liabilities | 2,638 | 3,913 | 4,561 | 5,080 | 5,148 | 5,585 | 6,518 | 7,873 |
| Fixed Assets | 1,342 | 1,834 | 2,026 | 2,458 | 2,427 | 2,459 | 2,704 | 2,917 |
| CWIP | 332 | 330 | 295 | 120 | 80 | 179 | 263 | 240 |
| Investments | 35 | 38 | 43 | 70 | 53 | 21 | 354 | 374 |
| Other Assets | 929 | 1,710 | 2,198 | 2,432 | 2,589 | 2,927 | 3,197 | 4,342 |
| Total Assets | 2,638 | 3,913 | 4,561 | 5,080 | 5,148 | 5,585 | 6,518 | 7,873 |
Cash Flow
| Particulars | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating | — | 520 | 97 | 369 | 756 | 762 | 654 | 817 |
| Investing | — | -550 | -289 | -439 | -198 | -360 | -1,019 | -487 |
| Financing | — | 34 | 203 | 39 | -496 | -328 | 223 | 396 |
| Net Cash Flow | — | 5 | 11 | -31 | 63 | 74 | -142 | 726 |
| Free Cash Flow | — | 67 | -264 | -133 | 591 | 310 | -19 | 207 |
| CFO/OP | — | 101 | 21 | 57 | 102 | 100 | 82 | 92 |
Ratios
| Particulars | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 50 | 45 | 62 | 47 | 52 | 48 | 58 | 60 |
| Inventory Days | 33 | 40 | 51 | 41 | 41 | 47 | 50 | 53 |
| Days Payable | 31 | 50 | 48 | 45 | 41 | 54 | 61 | 74 |
| Cash Conversion Cycle | 51 | 34 | 65 | 43 | 52 | 42 | 46 | 39 |
| Working Capital Days | 74 | 74 | 39 | 36 | 33 | 30 | 36 | 65 |
| ROCE % | — | — | 11% | 12% | 12% | 13% | 13% | 14% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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61 extracted metrics + investor summaries across FY09–FY26.
Documents
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Company Information
Incorporated in 1988, Belrise Industries Limited manufactures Automotive Sheet Metal and casting parts, Polymer components, Suspension, and mirror systems for automotives.[1]
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