Belrise Industries (BELRISE) Q4 24/25 earnings summary

Executive summary

• Achieved record quarterly profit after tax of INR 1.1 billion in Q4 FY25, the highest to date.

• Officially listed on stock exchanges on May 28, 2025, marking a significant milestone.

• Completed the acquisition of 93.37% of H-One India Private Limited on March 28, 2025, expanding capabilities in high-tensile steel fabrication and increasing content per vehicle for 4W OEMs.

• Expanded product portfolio and manufacturing footprint, with 17 facilities and over 1,000 unique products.

• Maintained a strong market position with a 24% share in Indian 2W metal components and expanded global presence.

Financial highlights

• FY25 consolidated revenue grew 10.8% YoY to INR 82,908.16 million; manufacturing revenue up 9.3% YoY to INR 65,938.07 million.

• EBITDA rose 10% YoY to INR 10,211 million; EBITDA margin at 12.3%.

• PAT increased 13.3% YoY to INR 3,554.43 million.

• Q4 FY25 revenue up 49% YoY to INR 22,744 million; EBITDA up 58% YoY to INR 2,760 million.

• Net debt reduced to INR 27,507 million after repaying INR 15,960 million post-IPO.

Outlook and guidance

• Targeting mid-teen revenue growth in the medium term, driven by organic and inorganic expansion.

• EBITDA margins expected to remain stable; focus on increasing RoCE to high teens.

• Anticipates doubling four-wheeler and commercial vehicle revenue share in 2–2.5 years.

• Auditors highlighted a subsequent IPO after the balance sheet date, which may significantly impact future operations and financial structure.