Belrise Industries Limited · NSE:BELRISE
Belrise Industries — Q4 FY26 Earnings Presentation
45 slides from Belrise Industries's earnings presentation, May 24, 2026
Slide 1: Stock exchange covering letter for investor presentation
Dated: May 24, 2026 The Secretary, Listing Department The Secretary, Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Bandra Kurla Dalal Street, Mumbai – 400 001 Complex, Bandra Kurla (E), Mumbai – 400 051 Scrip Code: 54
Slide 2: Belrise Industries Limited Investor Presentation – May 2026
Belrise Industries Limited (Formerly known as Badve Engineering Limited) Investor Presentation – May 2026
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Belrise Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any se
Slide 4: Table of Contents
Table of Contents Vision 1 Q4 & FY26 Highlights 2 Company Overview 3 Annexures 4 Customers & Capabilities 5 Growth Strategies 6
Slide 5: Vision
Vision Winning in Core Creating new verticals Accelerating penetration with existing customers, Building momentum in and onboarding new, marquee customers Steering Columns (4 customers), High-Tensile Products (4 customers), Suspensions (4 customers) & more Defense & Aerospace pivot Acquired two marq
Slide 6: Q4 & FY26 Financials
« BELRISE INDUSTRIES Q4 & FY26 Financials
Slide 7: Financial Highlights – Q4 FY26
Financial Highlights – Q4 FY26 Manufacturing Revenue1 Revenue from Trading of Goods Revenue from Operations (in ₹ Mn.) (in ₹ Mn.) (in ₹ Mn.) +21% -21% +12% 21,763.3 4,752.3 25,528.3 17,991.2 22,743.5 3,765.0 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 EBITDA & EBITDA Margins Adjusted PAT & PAT M
Slide 8: Financial Highlights – FY26
Financial Highlights – FY26 Manufacturing Revenue1 Revenue from Trading of Goods Revenue from Operations (in ₹ Mn.) (in ₹ Mn.) (in ₹ Mn.) +17% +5% +15% 77,346.3 16,970.1 17,744.7 95,091.0 65,938.1 82,908.2 FY25 FY26 FY25 FY26 FY25 FY26 EBITDA & EBITDA Margins Adj. PAT & PAT Margins2 ROACE (%)3 (in ₹
Slide 9: Segmental Revenue Breakup – Q4 FY26
Segmental Revenue Breakup – Q4 FY26 2W + 3W 4W Passenger 4W Commercial Others (in ₹ Mn.) (in ₹ Mn.) (in ₹ Mn.) (in ₹ Mn.) By Vehicle Type 85.3% 83.2% 4.4% 6.2% 7.7% 8.4% 2.6% 2.2% +18% +32% -2% +71% 18,112 1,348 1,830 484 474 15,334 1,385 788 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q
Slide 10: Segmental Revenue Breakup – FY26
Segmental Revenue Breakup – FY26 2W + 3W 4W Passenger 4W Commercial Others (in ₹ Mn.) (in ₹ Mn.) (in ₹ Mn.) (in ₹ Mn.) By Vehicle Type 84.8% 82.0% 4.4% 5.2% 7.3% 8.3% 3.5% 4.5% +13% +37% +35% +52% 63,401 3,999 6,447 3,499 55,933 2,918 4,790 2,297 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 ICE Powertrai
Slide 11: Chester Hall Precision – A UK-based leader in aerospace and space manufacturing
Chester Hall Precision – A UK-based leader in aerospace and space manufacturing About Chester Hall Marquee Customers Specialist in precision machining - aerostructures, aero-engine parts & satellite World’s largest Aircraft & Leading French Aircraft parts Space OEM Engine OEM Operates across a range
Slide 12: Case Studies in Design & Engineering
Case Studies in Design & Engineering Customer #1 Case Study Key Products • Involved in the design and development of Thrust Reverser and Nacelle parts for a leading aircraft engine OEM • Single-Source supplier for multiple programs • One of the OEM’s highest-rated suppliers Customer #2 Case Study (T
Slide 13: Update on Key Strategies
Update on Key Strategies 2-Wheelers Expanding in the 4W/CV segment • Initiated trials orders in Haridwar for a leading 2W OEM to supply metal systems as a single • Expanded order book at the H-One Greater Noida plant source for designing the completed manufacturing set-up • Won an order to set-up a
Slide 14: Update on New Facilities (FY 25-26 and FY 26-27)
Update on New Facilities (FY 25-26 and FY 26-27) Bangalore – 1 (Brownfield) Bhiwadi – 2 (Brownfield) • Serving a large Japanese 2W OEM for one of their • Serving a fast-growing 2W & 3W OEM for one of their highest selling models highest selling models • Key products manufactured include exhaust syst
Slide 15: Update on New Facilities (FY 25-26)
Update on New Facilities (FY 25-26) Chennai - 2 Pune - 5 • Serving both a premium 2W OEM and a large CV • Serving a large CV OEM as a single source OEM as a single source • Key products manufactured include high-tensile long • Key products manufactured include chassis systems, member components for
Slide 16: Consolidated Financial Highlights
Consolidated Financial Highlights Profit and Loss (In ₹ Mn.) Q4 FY26 Q4 FY25 Y-o-Y FY26 FY25 Y-o-Y Revenue from Operations 25,528.3 22,743.5 12.2% 95,091.0 82,908.2 14.7% Cost of Goods Sold 20,629.0 18,480.9 76,798.9 67,116.0 Gross Profit 4,899.3 4,262.6 14.9% 18,292.2 15,792.1 15.8% Gross Profit Ma
Slide 17: Balance Sheet
Balance Sheet Assets (In ₹ Mn.) Mar-26 Mar-25* Equity & Liabilities (In ₹ Mn.) Mar-26 Mar-25* Non-Current Assets 37,323.3 35,420.6 Total Equity 52,262.8 26,967.3 Property, Plant and Equipment 28,348.9 26,453.3 Equity Share Capital 4,449.4 3,255.0 Other Equity 47,813.5 23,712.4 Capital work-in-progre
Slide 18: Cash Flow Statement
Cash Flow Statement Particulars (In ₹ Mn.) Mar-26 Mar-25* Net Profit Before Tax 6,657.7 4,455.8 Adjustments for: Non -Cash Items / Other Investment or Financial Items 5,600.7 5,957.9 Operating profit before working capital changes 12,258.4 10,413.6 Changes in working capital -1,896.4 -2,389.8 Cash g
Slide 19: Company Overview
INDUSTRIES « BELRISE Company Overview
Slide 20: Leading Automotive Component Company providing Technology led Solutions
Leading Automotive Component Company providing Technology led Solutions Belrise Industries Limited (BIL) is an automotive component manufacturing company in India offering a diverse range of safety critical systems ₹25,528 Mn. ₹ 21,763 Mn. 1,000+ (up 12.2%) (up 21.0%) One of the top Total Revenue Ma
Slide 21: History of Outperformance
History of Outperformance Set up 5 new facilities and commenced entry into Aerospace and Defense with Acquired plastic molding the acquisition of Chester Hall and company supplying to 2 SDM, and a JV with Plasan Sasa Acquisition major Japanese OEMs of an international Started supplies of OEM’s Suspe
Slide 22: Extensive, Powertrain-Agnostic Product Portfolio (1/2)
Extensive, Powertrain-Agnostic Product Portfolio (1/2) Proprietary System Assembly Shock Absorber Rear Shock Plastic Seating Cowl Side Dash Steering Head Lamp Front Spring Absorber Cowl Board Column Bracket Fender BIW Part(s) 3-Wheelers 2-Wheelers Exhaust System Front Shock Front Fork Foot Main Stan
Slide 23: Extensive, Powertrain-Agnostic Product Portfolio (2/2)
Extensive, Powertrain-Agnostic Product Portfolio (2/2) Proprietary System Assembly Plastic Accessories Seating system parts BIW Parts Commercial Vehicles Passenger Vehicles Bumper Air Tank Polymer Part(s) Chassis Cross Car Beam Battery Container 22
Slide 24: Delivering Customer Success through Agile and Robust Manufacturing
Delivering Customer Success through Agile and Robust Manufacturing 800+ Robots for 5.1% Haryana Uttarakhand Fabrication Bawal (1) Pantnagar (2), Haridwar (1) % Exports contribution (from Sheet Metal Fabrication Capability Manufacturing Revenue, Q4 FY26) Uttar Pradesh Rajasthan Greater Noida (1) Bhiw
Slide 25: H-One India and Mag Filters Acquisitions
H-One India and Mag Filters Acquisitions H-One India Key Benefits MagFilters Key Benefits Customers: Addition of 1 new Japanese 4W OEM, and increase in Customers: Addition of 1 new Japanese 4W penetration in 2 other Japanese 2W OEMs OEM, and increase in penetration in 1 other Japanese 2W OEM Capabil
Slide 26: Belrise – A Responsible Corporate
Belrise – A Responsible Corporate Sustainability Goals E S G Environmental Social Governance • Effluent treatment plants and sewage treatment plants • Trained and employed over 1,000 workers across • Robust governance standards with majority across manufacturing facilities manufacturing facilities i
Slide 27: Annexures
INDUSTRIES « BELRISE Annexures
Slide 28: Merger of BAPL & EITSPL with Belrise
Merger of Badve Autocomps Pvt. Ltd. (BAPL) & Eximius Infra Tech Solution Pvt. Ltd. (EITSPL) with Belrise One of the top players Longstanding customer relationships: in Indian 2W plastic components1 with Large 2W & 3W OEM, Leading >14% market share2 Consumer Durables OEM ++; Promoter-owned Entities B
Slide 29: Customer & Capabilities
INDUSTRIES « BELRISE Customer & Capabilities
Slide 30: Technology-enabled, innovation driven development and process engineering capabilities
Technology-enabled, innovation driven development and process engineering capabilities Established track record in process engineering This has translated into rapid and successful product development for its customers Design & Testing 163 Facilities Top Indian Manufacturer of Passenger Cars Members
Slide 31: Longstanding customer relationships developed through years of collaboration
Longstanding customer relationships developed through years of collaboration Top Indian One of the Largest Japanese Top Indian One of the leading Top Indian 2W & 4W Motorcycle Manufacturer CV & PV Premium PV 2W & 3W OEM Manufacturer Manufacturer of CV in India Manufacturer Manufacturer Selected to s
Slide 32: Vertically Integrated Manufacturing Facilities
Vertically Integrated Manufacturing Facilities Progressively enhancing manufacturing capabilities through both backward integration and forward integration 3. Press 4. Sheet Metal 5. Coating & 6. System 1. Tool Making 2. Tube Bending Operations Fabrication Painting Assembly 2 4 5 Backward Forward In
Slide 33: Growth Strategies
INDUSTRIES « BELRISE Growth Strategies
Slide 34: Pillars of Growth
Pillars of Growth 01 Deepening Presence in the Two-Wheeler Segment 02 Building a Portfolio of Proprietary & Premium Products Expanding in the Four-Wheeler and Commercial Vehicle 03 Segments Transitioning from a Tier-1 supplier (component supplier) to 04 a Tier-0.5 supplier (system supplier) 33
Slide 35: 1. Deepening Presence in the Two-Wheeler Segment
1. Deepening Presence in the Two-Wheeler Segment Growth potential in CPV among top customers Benefiting from premiumisation Large Growth Opportunity Chassis ~2.2x Growth 13,900 ~5,500 ~2,500 OEM 3 OEM 2 OEM 1 Commuter Premium New products leading to increased CPV Increase in customers 20,300 No. of
Slide 36: 2. Building a Portfolio of Proprietary & Premium Products
2. Building a Portfolio of Proprietary & Premium Products Premiumisation in the 2W industry1 • Belrise develops complex products with quick turnaround times FY19 FY24 • OEMs prefer multi-product vendors because of1: Share of >= 125cc motorcycles 38% 52% i) consistent quality standards and ii) access
Slide 37: 3. Expanding in the Four-Wheeler and Commercial Vehicle Segments
3. Expanding in the Four-Wheeler and Commercial Vehicle Segments 5.0% 1.0% Customers 16.0% Existing New 57.0% 21.0% Increase penetration with Increase direct exports to Existing existing customers in new European/American OEMs models by further focusing on based on a proven relationship design and d
Slide 38: 4. Transitioning from a Tier-1 supplier to a Tier 0.5 supplier
4. Transitioning from a Tier-1 supplier (component supplier) to a Tier 0.5 supplier (System supplier) An increase in complexity and magnitude of assembly for major customers will allow Belrise to become an integral part of its customers’ development and value chain and thus increase stickiness Top I
Slide 39: Board of Directors
Board of Directors Girish Kumar Ahuja Sangeeta Singh Non Executive Independent Director Non Executive Independent Director Independent and Non-Independent PhD from University of Delhi Former Chairman (superannuated in 2023) Holds fellowship of the ICAI1 of the Central Board of Direct Taxes Co-author
Slide 40: Experienced Management Team
Experienced Management Team Shrikant Shankar Badve Supriya Shrikant Badve Sumedh Shrikant Badve Managing Director Whole-time Director General Manager (Head – Strategy) › 1st generation promoter › Responsible for overall business management › Gordon Hall Scholarship in Mechanical › Nominated to the E
Slide 41: Historical Performance
Historical Performance Manufacturing Revenue1 Revenue from Trading Total Revenue from Operations EBITDA & EBITDA Margins (in ₹ Mn.) (in ₹ Mn.) (in ₹ Mn.) (in ₹ Mn.) 13.3% 12.4% 12.3% 12.1% +14% +10% +13% +13% 77,346 16,970 17,745 95,091 11,538 65,938 14,516 82,908 10,211 60,325 74,842 8,755 9,284 53
Slide 42: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit and Loss (In ₹ Mn.) FY26 FY25 FY24 FY23 Revenue from Operations 95,091.0 82,908.2 74,841.0 65,825.0 Cost of Goods Sold 76,798.9 67,116.0 60,253.9 52,530.7 Gross Profit 18,292.2 15,792.1 14,587.1 13,294.3 Gross Profit Margin (%) 19.2% 19.0% 19.5% 20.2% Employ
Slide 43: Historical Balance Sheet
Historical Balance Sheet Assets (In ₹ Mn.) Mar-26 Mar-25* Mar-24 Mar-23 Equity & Liabilities (In ₹ Mn.) Mar-26 Mar-25* Mar-24 Mar-23 Non-Current Assets 37,323.3 35,420.6 28,857.7 27,373.8 Total Equity 52,262.8 27,131.9 23,401.9 20,445.1 Property, Plant and Equipment 28,348.9 26,453.3 23,054.5 22,437
Slide 44: Historical Cash Flow Statement
Historical Cash Flow Statement Particulars (In ₹ Mn.) Mar-26 Mar-25* Mar-24 Mar-23 Net Profit Before Tax 6,657.7 4,455.8 3,759.8 3,567.0 Adjustments for: Non -Cash Items / Other Investment or Financial Items 5,600.7 5,957.9 5,406.8 5,361.5 Operating profit before working capital changes 12,258.4 10,
Slide 45: THANK YOU !
THANK YOU ! Company: Belrise Industries Limited (Formerly known as Badve Engineering Limited) CIN: L73100MH1996PLC102827 Mr. Amit Joshi – GM, Corporate Finance arjoshi@belriseindustries.com Investor Relations: Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285 Mr. Deven Dhruva / Ms. Kris