Belrise Industries Limited reported a 13% year-on-year increase in total revenue for Q1 FY27, reaching INR25,465 million. The company also highlighted securing a new order for chassis systems valued at over INR650 million annually from a fast-growing two and three-wheeler OEM. Additionally, a successful INR17,000 million QIP will fund inorganic growth, including the acquisition of Hyva India’s tipper business.
Strong Financial Performance in Q1 FY27
Belrise Industries Limited announced its financial results for the first quarter of Fiscal Year 2027 (Q1 FY27), showcasing robust performance. Total revenues from operations grew by 13% year-on-year to INR25,465 million, up from INR22,622 million in the previous year. Manufacturing revenues also saw a significant jump of 20% year-on-year, reaching INR21,979 million.
The company reported EBITDA of INR2,933 million, a 5% increase year-on-year, with EBITDA margins at 11.5%. Manufacturing EBITDA stood at INR2,793 million, up 10% year-on-year, with margins at 12.7%. Profit After Tax (PAT) for the quarter was INR1,217 million, up 9% year-on-year.
Key Order Wins and Business Expansion
Belrise Industries highlighted several significant order wins. A key achievement includes an additional order for chassis systems from a leading two and three-wheeler OEM, expected to generate annual revenue of over INR650 million. This order will commence production in Q4 of the fiscal year. The company also secured a recurring revenue order worth over INR1,500 million annually for sheet metal assemblies for a North American solar tracker manufacturer, with production starting in Q4 FY27.
Furthermore, the company continues to expand its proprietary product portfolio, securing a fifth OEM for suspension systems. An order for complete brake assemblies from a legacy three-wheeler OEM is also set to commence in Q4 FY27. Additionally, Belrise will manufacture 59 unique assemblies for a leading Indian commercial four-wheeler EV model, including design and development work, opening a new revenue stream.
Strategic Growth Initiatives and Acquisitions
The company successfully raised approximately INR17,000 million through a Qualified Institutional Placement (QIP). These funds are earmarked for inorganic growth opportunities, particularly in the aerospace and commercial vehicle segments, and select organic growth initiatives.
A significant strategic move is the acquisition of Hyva India’s tipper business. This acquisition is expected to strengthen Belrise’s presence in the commercial vehicle segment and build capabilities in heavier fabrication. The business supplies to all five leading commercial vehicle OEMs in India and is expected to contribute significantly to revenue and profitability, with projected annual revenue of over INR1,500 million from peak volumes.
Belrise is also deepening its footprint in the aerospace and defense segment, acquiring capabilities like high tensile steel applications through its H-One India acquisition and collaborations. The company aims for aerospace and defense to contribute at least 10% of its consolidated revenues in the medium term.
Outlook and Cost Management
Management expressed confidence that cost pressures, particularly from commodity prices and staff costs, have largely peaked. The company anticipates passing on input cost fluctuations to customers with a slight lag, with minimal impact expected on margin profiles for the fiscal year. EBITDA margins are expected to remain stable compared to FY26 levels.
Source: BSE
