Belrise Industries Limited has announced a net profit of ₹110 crore for the quarter ending March 31, 2025, marking a dramatic rise—over sixfold—compared to the same period last year. The auto components manufacturer, headquartered in Pune, shared its audited financial results today.
For the full fiscal year 2025, Belrise reported ₹8,290.8 crore in operational revenue. Manufacturing activities contributed ₹6,593.8 crore, showing a 9% increase over the ₹6,033 crore reported in FY24. Manufacturing accounted for 80% of the total revenue.
Manufacturing EBITDA stood at ₹937.2 crore for the year, reflecting a 10% rise from ₹854.5 crore in FY24. The EBITDA margin for manufacturing remained steady at 14.2%, while the company’s overall EBITDA margin was recorded at 12.3%.
Previously known as Badve Engineering Limited, Belrise Industries specializes in integrated manufacturing for the automotive sector, focusing on safety-critical and engineered systems. The revenue mix for FY25 shows that two-wheeler components led the way, contributing 81.3%, followed by commercial vehicles (7.3%), passenger vehicles (4.4%), three-wheelers (3.6%), and other categories (3.5%).
The company made two strategic acquisitions during the fiscal year. In October 2024, it acquired Mag Filters’ plastic components business through a ₹165 crore Business Transfer Agreement. This move gave Belrise a foothold in the air filtration segment for two-wheelers, three-wheelers, and passenger vehicles.
Furthering its expansion, Belrise secured a 93.37% stake in H-One India Private Limited—previously owned by Japan’s H-One Company Limited—for ₹190 crore in March 2025. This acquisition adds high-tensile steel manufacturing capabilities and modern automation tools including five transfer press lines (up to 1,500 MT) and 65 high-speed robots. It also brings a new Japanese four-wheeler OEM into Belrise’s client portfolio and enhances engagement with two existing Japanese two-wheeler OEMs.
Proceeds from the company’s recent IPO were used to repay approximately ₹1,596 crore in debt—a move expected to cut interest costs and strengthen its financial structure. Managing Director Shrikant Badve emphasized that 73% of Belrise’s manufacturing portfolio now consists of powertrain-neutral products, enabling the firm to support both ICE and EV platforms. He also highlighted the company’s evolution from a Tier-1 subsystem provider to a Tier 0.5 supplier, which involves delivering more complex systems and sub-assemblies requiring higher engineering input.
For FY25, the company reported a return on average capital employed (RoACE) of 14.9% and a return on average equity (RoAE) of 14.1%. These figures do not include the newly acquired H-One India, as the deal was finalized late in the fiscal year. Looking ahead, Belrise aims for mid-teen growth in FY26, driven by deeper ties with Tier-1 OEMs and planned growth in both the four-wheeler and commercial vehicle markets.
With a robust portfolio that includes advanced battery systems, e-mobility solutions, and precision engineering products, Belrise is committed to supporting the transition to cleaner and more efficient transportation. Its state-of-the-art manufacturing facilities and emphasis on R&D enable the development of cutting-edge technologies tailored to meet diverse client needs. Guided by a vision for sustainable growth, Belrise Industries continues to enhance its global presence, playing a pivotal role in advancing the future of mobility.
