Revenue rose 14.7 percent to Rs. 95,091.0 million and adjusted PAT grew 41.2 percent to Rs. 5,020.0 million in FY26, as Shrikant Badve, Managing Director, Belrise Industries Limited, said the company delivered broadly on commitments made at the time of the IPO.
Pune, 25 May 2026: Belrise Industries Limited reported growth in revenue and adjusted profit for the quarter and year ended 31 March 2026, closing its first full year as a listed company with higher manufacturing revenue, aerospace expansion and new OEM order wins.
For Q4 FY26, total revenue stood at Rs. 25,528.3 million, up 12.2 percent from Rs. 22,743.5 million in Q4 FY25. Adjusted profit after tax rose 17.2 percent to Rs. 1,289.5 million from Rs. 1,100.2 million. EBITDA for the quarter stood at Rs. 2,901.3 million, up 5.1 percent year on year, while EBITDA margin was 11.4 percent.
For FY26, total revenue grew 14.7 percent to Rs. 95,091.0 million from Rs. 82,908.2 million in FY25. Adjusted profit after tax rose 41.2 percent to Rs. 5,020.0 million from Rs. 3,554.4 million. EBITDA increased 13.0 percent to Rs. 11,537.7 million, while profit before tax rose 49.4 percent to Rs. 6,657.7 million.
Manufacturing revenue in Q4 FY26 rose 21 percent to Rs. 21,763 million, compared with Rs. 17,991 million in Q4 FY25. Manufacturing EBITDA grew 9 percent to Rs. 2,800 million, with manufacturing EBITDA margins at 13.0 percent. Exports contributed 5.1 percent to manufacturing revenue, while 73.8 percent of manufacturing revenue came from powertrain neutral products.
For the full year, manufacturing revenue increased 17 percent to Rs. 77,346 million from Rs. 65,938 million in FY25. Manufacturing EBITDA rose 15 percent to Rs. 10,577 million, with manufacturing EBITDA margins at 13.7 percent.
Belrise also recorded a one time operational loss of Rs. 94.7 million in FY26 in its subsidiary Belrise Aerospace and Defense, linked to startup costs related to machinery overhauling, legal and professional expenses, and personnel expenses connected to the acquisition of SDM in France. The company expects this loss to be one time and expects SDM to be profitable in FY27.
During the quarter, Belrise completed its second international acquisition in the aerospace sector with the acquisition of Chester Hall Precision Engineering, a UK based specialist in aerospace, defence and space manufacturing. The acquisition was completed for £13.2 million. Chester Hall reported revenues of more than £18.5 million in CY2025 and EBITDA of about £2.1 million, implying a valuation of around 6 times EBITDA.
Belrise said Chester Hall supplies to the world’s largest aircraft OEM and a leading engine manufacturer, and serves as a single source supplier of space satellite components for a major OEM’s satellite programme. The company is also a single source supplier for key reverse thruster engine and nacelle components on one of the world’s highest selling commercial aircraft platforms.
The company also secured new orders during Q4 FY26. It won a large order from one of the fastest growing two wheeler and three wheeler OEMs for exhaust systems and fuel tanks for one of their highest selling models. Production is expected to begin from Q2 FY27 through brownfield expansion at Belrise’s Bangalore facility.
Belrise also secured a major order from a Japanese OEM for complete exhaust systems and several other components. The programme is expected to generate peak annual revenue of about Rs. 220 crore, with production expected to begin from Q4 FY27.
Shrikant Badve, Managing Director, Belrise Industries Limited, said, “FY26 marked Belrise’s first full year as a listed company, and the team has delivered broadly on all the commitments made at the time of the IPO. Revenue grew at mid-teens, with EBITDA margins stable, validating the operating model and the company’s ability to grow sustainably.”
He added that Q4 FY26 was a strong quarter for Belrise, with adjusted PAT reaching Rs. 1,290 million, up 17 percent year on year, and total revenue from operations at Rs. 25,528 million, up 12 percent year on year.
Badve said content per vehicle improved by about 65 to 70 percent in two wheelers and 40 to 45 percent in four wheelers and commercial vehicles, with the latter aided by the consolidation of H One. The board also approved the merger of two group entities, close to book value, into the listed company to simplify structure and improve operational efficiency.
On aerospace, he said Belrise completed the acquisition of Chester Hall Precision Engineering in Q4 FY26. He added that the acquisition, along with the earlier SDM acquisition in France, deepens Belrise’s presence in global OEM aerospace supply chains. The company is in advanced discussions to transfer portions of Chester Hall’s subcontracted manufacturing to India while preserving precision standards.
Belrise Industries Limited is a Pune based automotive component company offering safety critical systems and engineering solutions for two wheelers, three wheelers, four wheelers, commercial vehicles and agri vehicles. Its portfolio includes metal chassis systems, polymer components, suspension systems, body in white components and exhaust systems. The company has 24 manufacturing facilities across 9 states in India and customer relationships with more than 38 OEMs.
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