Belrise Industries Limited (BELRISE) AI Stock Analysis

• Market Cap: ₹152.26B
• Dividend Yield: 0.33%
• Average Volume (3M): 619.83K
• Price to Earnings (P/E): 25.0
• Beta (1Y): 1.11
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 2,168
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Auto - Parts
• EPS (TTM): 1.50
• Shares Outstanding: 889,879,200
• 10 Day Avg. Volume: 327,876
• 30 Day Avg. Volume: 619,826
• PEG Ratio: 1.87
• Price to Book (P/B): 3.21
• Price to Sales (P/S): 1.07
• P/FCF Ratio: -53.08
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: ₹197.00 ▲(7.47% Upside)

Belrise Industries' strong revenue growth and operational performance are significant positives. However, high leverage, negative cash flow, and potential overvaluation are key risks. The stock's bullish momentum is tempered by overbought technical indicators.

Positive Factors

Strong Revenue Growth

A 148.74% revenue increase indicates substantial market demand and rapid top-line expansion. Sustained high revenue growth over months can enable scale economies, stronger supplier terms, and investment in distribution or product development, supporting durable competitive positioning.

Healthy Operating Margins

Stable ~16% gross margin and healthy EBIT/EBITDA margins point to efficient production and cost control in core auto-parts operations. Persistent margin levels support reinvestment, resilience to input-cost swings, and the ability to fund growth without eroding profitability over months.

Strong Return on Equity

ROE of 13.18% signals effective deployment of shareholder capital to generate profits. A durable mid-teens ROE suggests management can extract acceptable returns from invested capital, aiding long-term value creation and reducing need for dilutive equity issuance if maintained.

Negative Factors

High Leverage

A debt-to-equity ratio of 1.10 indicates significant leverage that raises interest and refinancing risk. Elevated debt limits financial flexibility for capex or working capital, and can amplify downside in a cyclical auto-parts market, pressuring stability over the coming months.

Negative Free Cash Flow

Negative free cash flow and a 0.26 operating-cash-to-net-income ratio show weak cash conversion of profits. Persistent cash shortfalls constrain debt servicing and organic investment, increasing reliance on external financing and weakening long-term operational resilience.

Compressed Net Profit Margin

Net margin contraction to 4.37% despite revenue gains suggests rising costs or competitive pricing pressure. Persistent margin erosion would reduce retained earnings for reinvestment, weaken profitability quality, and limit the firm's ability to absorb industry downturns over months.

Belrise Industries Limited Business Overview & Revenue Model

Company Description

Belrise Industries Limited, together with its subsidiaries, manufactures and sells automotive parts and components of two-wheeler, three-wheeler and four-wheeler passenger and commercial vehicles in India. The company offers shock absorber springs, rear and front shock absorbers, plastic and seat cowls, side dashboards, steering columns, head lamp brackets, front fenders, exhaust systems, foot rests, brake pedals, hub motors, main and side stands, chassis, front fork assembly, two-wheeler chassis sub-assemblies, BIW parts, plastic accessories, seating system parts, polymer parts, cross car beams, battery containers, air tanks, and bumpers. It also provides polymer refrigerator parts, such as fruit and vegetable trays, handles, and bases; and renewable parts, including solar panel components. In addition, the company offers press parts; two-wheeler fairings, seat and side covers, luggage boxes, helmets, and headlight housings; outer and inner rear-view mirrors for vehicles; wishbone assemblies; tri hexavalent nickel chrome plating of mild and stainless steel; automotive systems comprising clutch and pressure plates, flywheels, control arms, crankshafts, housings, hubs, and calipers; home appliances consisting of freezer grills, fridge baskets, and thermostat parts; and home security devices, including household locks and bolts, as well as operates a rose plantation. It exports its products. The company was formerly known as Badve Engineering Limited and changed its name to Belrise Industries Limited in August 2022. Belrise Industries Limited was founded in 1988 and is headquartered in Pune, India.

How the Company Makes Money

BELRISE generates revenue through multiple streams, primarily by manufacturing and selling its core products in various consumer goods categories. The company benefits from economies of scale, allowing it to maintain competitive pricing while ensuring quality. Key revenue streams include direct sales to retailers, e-commerce platforms, and wholesale distribution partnerships. Additionally, BELRISE may engage in private label manufacturing for major retail chains, providing another significant revenue source. Strategic collaborations with suppliers and distributors enhance its market reach, while ongoing investments in marketing and brand development contribute to increased sales and customer loyalty.

Belrise Industries Limited Financial Statement Overview

Summary

Belrise Industries shows strong revenue growth and healthy profitability margins, indicating robust operational performance. However, high leverage and negative free cash flow present risks that need addressing for long-term stability.

Income Statement

Belrise Industries has demonstrated impressive revenue growth, particularly with a 148.74% increase in the latest year, indicating strong market demand and expansion. The gross profit margin remains stable around 16%, while the net profit margin has slightly decreased to 4.37%. EBIT and EBITDA margins are healthy, reflecting efficient operations. However, the slight decline in net profit margin suggests rising costs or competitive pressures.

Balance Sheet

The company's debt-to-equity ratio is relatively high at 1.10, indicating significant leverage, which could pose risks if not managed carefully. However, the return on equity remains strong at 13.18%, showing effective use of equity to generate profits. The equity ratio is moderate, suggesting a balanced approach to financing with both debt and equity.

Cash Flow

Belrise Industries faces challenges with free cash flow, which has turned negative, indicating potential liquidity issues. The operating cash flow to net income ratio is low at 0.26, suggesting limited cash generation relative to profits. The negative free cash flow to net income ratio highlights the need for improved cash management strategies.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	82.62B	81.32B	73.10B	63.77B	52.01B
Gross Profit	12.04B	13.16B	11.73B	10.32B	8.96B
EBITDA	10.78B	10.71B	9.80B	9.09B	7.62B
Net Income	3.55B	3.55B	3.14B	3.14B	2.62B
Balance Sheet
Total Assets	72.25B	72.25B	60.42B	56.79B	51.96B
Cash, Cash Equivalents and Short-Term Investments	773.30M	773.30M	1.86B	1.39B	472.00M
Total Debt	29.64B	29.64B	25.04B	23.53B	26.32B
Total Liabilities	45.12B	45.12B	37.01B	36.35B	34.60B
Stockholders Equity	26.97B	26.97B	23.40B	20.45B	17.36B
Cash Flow
Free Cash Flow	-1.98B	-1.63B	1.30B	5.55B	-310.16M
Operating Cash Flow	501.65M	7.04B	5.82B	7.89B	4.74B
Investing Cash Flow	-2.20B	-9.81B	-3.62B	-1.94B	-5.43B
Financing Cash Flow	586.81M	1.69B	-1.41B	-5.30B	385.74M

Belrise Industries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BELRISE	71 Outperform	₹152.26B	24.97	―	0.33%	―	―
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SURYALAXMI	55 Neutral	₹1.06B	19.30	―	―	4.60%	226.64%
SVPGLOB	46 Neutral	₹389.62M	-0.04	―	―	-85.84%	-93.11%
EUROTEXIND	43 Neutral	₹119.35M	5.79	―	―	-53.77%	―

Belrise Industries Limited Corporate Events

Belrise Industries Sets Q3 & 9M FY26 Earnings Call for February 2

Belrise Industries Limited has scheduled an earnings conference call with analysts and investors on February 2, 2026, at 9:30 a.m. IST, following a board meeting on January 31, 2026 to consider the company’s standalone and consolidated financial results for the quarter ended December 31, 2025. Senior management, including the managing director, key strategy and general management executives, the chief financial officer, and the chief marketing officer, will participate in the Q3 and nine-month FY26 call, underscoring the company’s efforts to maintain transparent communication with the market and provide detailed updates to stakeholders on its financial and strategic performance.

Belrise Buys Aerospace Assets in French Liquidation to Accelerate Defence Push

Belrise Industries Limited has acquired aerospace-related equipment worth €350,000 through its subsidiaries in a court-supervised liquidation sale of French company SAS Société Dupuis Mécanique, approved by the Commercial Court of Arras. The transaction, executed in the ordinary course of the subsidiary’s business and not classified as a related-party deal, is intended to fast-track Belrise’s entry into the aerospace and defence arena by enabling immediate collaboration with established aerospace OEMs and Tier-1 suppliers in Europe, signaling a strategic diversification and strengthening of its industrial footprint in a high-value segment.

Belrise Industries, Plasan Sasa Sign Exclusive Pact to Localise ATEMM Defence Platforms in India

Belrise Industries has entered into an exclusive three-year teaming and strategic agreement with Israel’s Plasan Sasa to collaborate on technical and business development, jointly pursuing defence tenders from India’s Ministry of Defence, public sector undertakings, paramilitary forces and other government agencies. The partnership centers on adapting and producing Plasan’s ATEMM all-terrain electric mission module for the Indian military market, supports India’s Make in India and Atmanirbhar Bharat initiatives through localisation and technology transfer, and is expected to position Belrise as a prime source of subsystems and systems within Plasan’s global supply chain, strengthening both companies’ roles in India’s defence ecosystem and their international operations.

Belrise Industries Frees Over 63 Million Pre-Listing Shares From Lock-In

Belrise Industries Limited, which listed its equity shares on Indian stock exchanges in May 2025, has announced the release of lock-in restrictions on a large block of its pre-listing equity shares. The move affects 6,31,11,680 equity shares held by the promoter group and other public shareholders, which became freely tradable on December 18, 2025, following regulatory clearances and corporate action by the company’s registrar and transfer agent. This development significantly increases the company’s free float and potential market liquidity, a change that existing and prospective investors are likely to monitor closely as it may influence trading dynamics and ownership structure.