Belrise Industries IPO Review

Belrise Industries Ltd. is a Tier-1 Automotive OEM Manufacturing Group in India with a turnover of INR 7484.2 CR. They specialize in Automotive Systems for the Two-wheeler, Three-wheeler and Four-wheeler Passenger and Commercial vehicle niche. Their Product Protfolio is diversified across Metal Processing, Polymer Processing, Surface Treatment, Mirror Systems, Suspension Systems, Foundry, Home Appliances, Security Hardware, E-mobility and Flouriculture respectively.

Shrikant Shankar Badve, the Managing Director, has over 28 years of experience in the automotive industry and provides the leadership team with the vision to steer the long-term strategic direction of the business. Mr. Badve has received numerous awards over the course of his career including from the former Hon’ble Prime Minister of India.

The Revenues from operations for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 60,647.63 Million, ₹ 75,556.73 Million, ₹ 66,207.83 Million and ₹ 54,106.80 Million respectively. The EBITDA for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 7,967.48 Million, ₹ 9,836.34 Million, ₹ 9,137.80 Million, and ₹ 7,685.76 Million, respectively. The Profit after Tax for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 2,454.67 Million, ₹ 3,108.79 Million, ₹ 3,136.63 Million, and ₹ 2,618.47 Million respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 4.82 and post-issue EPS of ₹ 3.33 for FY24. The pre-issue P/E ratio is 18.67x, while the post-issue P/E ratio is 27.06x against the Industry P/E ratio is 50x. The company's ROCE for FY24 is 14.83%, ROE for FY24 is 14.18% and RoNW is 13.33%. The Annualised EPS based on the latest financial data is ₹ 5.36 and PE ratio is 16.79x. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Belrise Industries showing listing gains of 11.11 %.Given the company's financial performance and the valuation of the IPO, we recommend Risky Investors to Apply to the Belrise Industries Limited IPO for Listing gain.

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About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.