Belrise Industries Delivers Strong FY26 Earnings and Strategic OEM Wins

Belrise Industries Ltd (BIL), one of India’s leading integrated automotive component manufacturers with a diverse portfolio of safety-critical systems and engineering solutions, announced its audited financial results for the quarter and year ended March 31, 2026. 

 Looking at the full fiscal year performance, Belrise demonstrated impressive momentum. Total revenue for FY26 climbed to INR 95,091 million, marking a solid 14.7 percent increase over the previous year's INR 82,908.2 million. The company’s Gross Profit reached INR 18,292.2 million, up 15.8 percent. The adjusted Profit After Tax saw a massive jump of 41.2 percent, totaling INR 5,020 million for the year, which pushed the annual profit margin up to 5.3 percent.

 In Q4 FY26, Belrise generated INR 25,528.3 million in revenue, a 12.2 percent improvement over the same period last year. Profit Before Tax rose 25.2 percent to INR 1,745 million and adjusted Profit After Tax reached INR 1,289.5 million. The quarterly EBITDA margin saw a slight adjustment to 11.4 percent, and full-year EBITDA grew by 13.0 percent to reach INR 11,537.7 million. By delivering nearly 50 percent growth in Profit Before Tax for the full year, the company solidified its position as a leader in the engineering space. The result also noted an INR 3,554.4 million profit last year to over INR 5,000 million this year.

 Other Business & Financial Highlights (Q4 FY26)

●       Manufacturing Revenue up 21 percent to INR 21,763 million as compared to INR 17,991 million in Q4 FY25

●       Manufacturing EBITDA up 9 percent to INR 2,800 million as compared to INR 2,573 million in Q4 FY25

●       Manufacturing EBITDA Margins stood at 13.0 percent

●       73.8 percent of manufacturing revenue is from powertrain-neutral products

 Other Business & Financial Highlights (FY26)

●       Manufacturing Revenue up 17 percent to INR 77,346 million as compared to INR 65,938 million in FY25

●       Manufacturing EBITDA up 15 percent to INR 10,577 million as compared to INR 9181 million in FY25

●       Manufacturing EBITDA Margins stood at 13.7 percent

 The company had a one-time operational loss of INR 94.7 million in Q4 of FY 26 in its subsidiary, Belrise Aerospace & Defense due to startup costs related to the overhauling of machinery, legal & professional expenses, and personnel expenses relating to the acquisition, SDM in France. It expects this loss to be one-time and anticipates SDM to be profitable in FY 27.

Key Operational Highlights for Q4 FY26

Aerospace segment:

The company completed its second international acquisition in the aerospace sector with the acquisition of Chester Hall Precision Engineering, a UK-based specialist in aerospace, defence, and space manufacturing. Chester Hall supplies to the world’s largest aircraft OEM and a leading aircraft engine manufacturer, and serves as a single-source supplier of space satellite components for a major OEM’s satellite program.

 Chester Hall is recognized for its highly specialized manufacturing capabilities, including build-to-spec aero engine components requiring ultra-precision tolerances below 0.1–0.2 microns, positioning it among a select group of global suppliers capable of delivering such mission-critical parts. It’s the single-source supplier for key reverse thruster engine and nacelle components on one of the world’s highest-selling commercial aircraft platforms and ranks among the OEM’s top five UK suppliers by quality. 

The acquisition was completed for a consideration of £13.2 million. Chester Hall reported revenues of over £18.5 million in CY2025, with EBITDA of approximately £2.1 million, implying a valuation of ~6x EBITDA. 

New Order Wins:

Belrise strengthened its presence among two of the country’s fastest-growing 2W OEMs, positioning them for further gains in 2W market share:

●       Secured a large order from one of the fastest-growing two-wheeler and three-wheeler OEMs for the supply of exhaust systems and fuel tanks for one of their highest-selling models; this will be supported through a brownfield expansion at the company’s Bangalore facility. The start of production is expected from Q2 FY27.

●       Secured a major order from a Japanese OEM for complete exhaust systems and a clutch of several other components. This program is expected to generate peak annual revenues of approximately INR 220 crore. The start of production is expected from Q4 FY27. 

Commenting on the Q4 & FY26 performance, Shrikant Badve, Managing Director, Belrise Industries Ltd said, “FY26 marked Belrise’s first full year as a listed company, and the team has delivered broadly on all the commitments made at the time of the IPO. Revenue grew at mid-teens, with EBITDA margins stable, validating the operating model and the company's ability to grow sustainably. Q4 FY26 was a strong quarter for Belrise with adjusted PAT reaching INR 1,290 million, up 17 percent year-on-year. Total revenue from operations for Q4 FY26 stood at INR 25,528 million, up 12 percent year-on-year, including manufacturing revenue of INR 21,763 million, which grew 21 percent year-on-year.” 

He continued, “Content per vehicle also improved meaningfully, up ~65–70 percent in 2-wheelers and ~40-45 percent in 4-wheelers and CVs, the latter aided by the consolidation of H-One. The board also approved the merger of two group entities, at close to book value, into the listed company to simplify structure and improve operational efficiency.” 

In Q4FY26, Badve reiterated, “Belrise completed the acquisition of Chester Hall Precision Engineering, a UK-based manufacturer of aero engine and aerostructure components. Chester Hall supplies to the world’s largest aircraft OEM and a leading engine manufacturer, and serves as a single-source supplier of space satellite components for a major OEM’s satellite program. The business specializes in machining advanced materials such as titanium and aluminum grade 7, with precision tolerances below 0.1–0.2 microns and a component rejection rate of just 0.5–1 percent.” 

He added, “This follows the earlier acquisition of SDM in France, and together the two assets meaningfully deepen Belrise’s presence in global OEM aerospace supply chains. Management is in advanced discussions to transfer portions of Chester Hall’s subcontracted manufacturing to India to leverage cost and engineering advantages, while preserving precision standards.” 

Q4FY26 saw a few significant order wins—according to Badve. “Belrise secured a new program with a fast-growing 2/3- wheeler OEM for exhaust systems and fuel tanks, with production slated to begin from a brownfield Bangalore expansion in Q2FY27. Secondly, Belrise stepped in when a Japanese OEM faced supply disruption when a smaller Tier-1 supplier faced financial distress — developing the required parts within eight weeks. Parallelly, Belrise also won a major follow-on order for complete exhaust systems and other components, expected to generate peak annual revenues of ~INR 220 crore from Q4FY27.” 

Looking ahead, he concluded, “We remain focused on driving sustainable growth, maintaining operational resilience, and investing prudently to support long-term value creation. We’re confident in our ability to execute on our strategic priorities.” 

For more information: www.belriseindustries.com