Belrise Industries (BELRISE) Q2 25/26 earnings summary

Executive summary

• Achieved record quarterly PAT of INR 1,330 million and revenue of INR 23,535 million, up 14% year-over-year, driven by strong demand across core auto component segments and new business wins.

• Focused on innovation, quality, and customer integration, transitioning to a Tier 0.5 supplier with higher content per vehicle and system assembly capabilities.

• Expanded into new segments, including EV platforms, premium two-wheeler and commercial vehicle programs, solar structures, and defense assemblies.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, were approved, with an unmodified auditor's opinion confirming compliance and accuracy.

• A scheme of amalgamation between a wholly owned subsidiary and the parent company was approved, and a new wholly owned subsidiary in defence and aerospace was incorporated.

Financial highlights

• Q2 FY26 revenue: INR 23,535 million (+14% YoY); H1 FY26: INR 46,157 million (+20% YoY); manufacturing revenue: INR 18,601 million (+17% YoY).

• Q2 FY26 EBITDA: INR 2,961.9 million (+22% YoY); EBITDA margin: 12.6%. Manufacturing EBITDA: INR 2,663 million (+25% YoY); margin: 14.3%.

• Q2 FY26 PAT: INR 1,329.8 million (+82% YoY); PAT margin: 5.7%. H1 FY26 PAT: INR 2,446.6 million (+69% YoY).

• H1 FY26 EBITDA: INR 5,767 million (+19% YoY); ROCE/ROACE increased to 15.3%.

• Consolidated Q2 FY26 revenue: ₹20,687.34 million; consolidated net profit: ₹1,329.81 million; EPS at ₹1.63.

Outlook and guidance

• CapEx guidance maintained at INR 8,000 million over FY26 and FY27.

• Multiple new facilities expected to ramp up to peak revenues (INR 1,500–2,000 million each) within 12–24 months.

• Margin stability expected, with potential upside from operating leverage and proprietary products, but near-term margins may be tempered by ramp-up of new facilities.

• Targeting to double four-wheeler and commercial vehicle revenues over the next two years.

• Continued focus on core automotive components and expansion into defence and aerospace.