BELRISE · Automobile and Auto Components
Belrise Industries Ltd. reported revenue of ₹2,088 cr for April to June 2026, +16.1% on the year and −0.9% on the quarter. Over the last four quarters revenue comes to ₹7,818 cr, +12.2% on the four before.
Operating profit (EBITDA) was ₹268 cr, a margin of 12.8%, −135 bps on the year and −50 bps on the quarter. It is the narrowest margin of the last 8 quarters (range 12.8% to 14.4%). Operating costs grew +18.0%, faster than revenue at +16.1%, so operating profit grew less than sales.
Net profit was ₹114 cr, +10.7% on the year and −16.2% on the quarter, with earnings per share of ₹1.28. Profit before other income, one-offs and tax grew faster, at +26.6%; other income, one-offs or tax held the headline back. The tax rate was 27% against an average of 23% over the previous 8 quarters, which weighed on profit this quarter. Profit over the last four quarters totals ₹490 cr, +32.8% on the four before.
A vehicle maker's revenue is volumes times average price, and its margin moves with steel, aluminium and rubber costs and with the share of exports and premium models. The quarterly statements do not carry volumes, realisation per vehicle and the export share; those come with the filing read.
On earnings per share of ₹5.50 over the last four quarters, the stock at ₹217.46 trades at 39.5 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Core profit grew faster than reported profit: one-offs held the headline down.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,476 cr | ₹1,425 cr | ₹1,590 cr | ₹1,780 cr | ₹1,799 cr | ₹1,798 cr | ₹1,802 cr | ₹1,821 cr | ₹2,107 cr | ₹2,088 cr |
| YoY | — | — | — | — | +22% | +26% | +13% | +2% | +17% | +16% |
| EBITDA margin | 13.0% | 15.1% | 13.5% | 13.0% | 14.1% | 14.2% | 14.4% | 14.1% | 13.3% | 12.8% |
| Other income, % of PBT | 9% | 11% | 18% | 24% | 9% | 16% | 13% | 16% | 11% | 12% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 15% | 21% | 17% | 25% | 21% | 21% | 25% | 29% | 24% | 27% |
| Net profit | ₹49.0 cr | ₹66.0 cr | ₹65.0 cr | ₹91.0 cr | ₹110 cr | ₹103 cr | ₹123 cr | ₹117 cr | ₹136 cr | ₹114 cr |
| YoY | — | — | — | — | +124% | +56% | +89% | +29% | +24% | +11% |
| Core profit YoY | — | — | — | — | +142% | +47% | +122% | +49% | +25% | +27% |
| EPS | ₹0.75 | ₹1.01 | ₹1.00 | ₹1.40 | ₹1.69 | ₹1.15 | ₹1.38 | ₹1.31 | ₹1.53 | ₹1.28 |
| Flags | · | · | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Belrise Industries Ltd. reported revenue of ₹2,088 cr (+16.1% on the year) and net profit of ₹114 cr (+10.7% on the year) for April to June 2026.
Profit before other income, exceptional items and tax moved +26.6% on the year, against +10.7% for reported profit.
None of the 7 checks that could run raised a question.
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