PESB research view: HoldStock
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PESB recommendation · Stock
₹212.33▲ 2.76 (+1.32%) todayNSE · as of 3 Nov 2026, 5:30 am
Recommended on 12 Jan 2026 by Anupama Bhootra
Our recommendation read against today's market data.
Belrise Industries ltd., headquartered in Pune, is a leading Tier-1 automotive component manufacturer with over three decade of industry presence. The company offers a diversified portfolio across metal, polymer, and precision engineering products, catering to two, three and four-wheeler OEMs in India and abroad. With 17 strategically located manufacturing facilities across major auto clusters, Belrise serves marquee clients such as Tata Motors, Bajaj Auto and Volkswagen along with select export
Belrise remains well-positioned for sustained growth, with management guiding for mid-teens revenue growth and stable EBITDA margins in FY27. Growth visibility is supported by ~₹200 Cr annual order run-rate from a key 2W/3W OEM, a ₹150 Cr+ peak annual revenue opportunity in renewable energy, and the target of 10%+ of consolidated revenue from aerospace & defence over the medium term. The increasing contribution from 4W/CV, renewable energy and aerospace & defence should further diversify the business and support longterm earnings growth. we project Revenue/EBITDA/PAT CAGR of 15%/20/33% over FY26-FY28E from earlier 13%/16%/33% estimations.
Research by Pune E-Stock Broking Ltd., SEBI Research Analyst Reg. No. INH000018197. Investments in the securities market are subject to market risks; read all related documents carefully before investing. Past performance is not indicative of future returns.
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