Belrise Industries

What Belrise Industries does

Belrise Industries Limited (formerly Badve Engineering Limited) is a Pune-headquartered, publicly listed Tier-1 automotive component manufacturer in India founded in 1988 by first-generation entrepreneur Mr. Shrikant Badve. The company operates 15+ manufacturing facilities across 7 Indian states with over 15,000 employees, producing metal processing components (chassis, BIW parts, exhaust systems, press parts), polymer components (fairings, seat covers, helmets via 200+ injection moulding machines), suspension systems (front forks, shock absorbers at 300,000 pcs/month), mirror systems, foundry products, and surface treatment services. It supplies 29+ OEMs including Bajaj Auto, Hero MotoCorp, TVS, Honda, Maruti Suzuki, Mahindra, and Tata Motors, and exports to the USA, Japan, UK, China, Austria, Slovakia, and Thailand, holding approximately 24% market share in India's two-wheeler metal components segment.

The company's go-to-market is enterprise B2B direct sales of quote-based long-term supply contracts to OEMs; pricing is negotiated per component and not publicly disclosed. Revenue is generated primarily from automotive hardware sales (FY26 total revenue of ₹95,091 million; manufacturing revenue ₹77,346 million), with an emerging eMobility stream (hub motors, controllers, EV chassis) and a newly built aerospace and defense vertical following the acquisitions of SDM (Europe, Feb 2026) and Chester Hall Precision Engineering (UK, March 2026) and a strategic partnership with Israel's Plasan Sasa for ATEMM military electric vehicles. The company is automation-intensive, deploying 400+ robots, IoT-based real-time production monitoring, and full digital controlled PULSE MIG/MAG welding.

Following its May 2025 IPO on BSE and NSE, which raised ₹2,150 crore at a post-issue market cap of ~₹8,009 crore, Belrise has been executing an aggressive inorganic and vertical-diversification strategy funded by public capital. Strategic signals include three new EV plants, ongoing group-entity mergers expected to add ₹1,000 crore of revenue, and the founder family's continued control with institutional coverage from HSBC, Jefferies, and JM Financial all at Buy ratings.

Name

Belrise Industries

Legal name

Belrise Industries Limited

Website

https://belriseindustries.com

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Belrise Industries is a publicly listed Indian Tier-1 automotive component manufacturer with 15+ plants, supplying metal, polymer, suspension, mirror, foundry, and eMobility components to 29+ OEMs including Bajaj, Hero, TVS, Honda, Maruti, Mahindra, and Tata, and is expanding into aerospace and defense.

Ownership category

akta.pro rank

Product category

Automotive Components Manufacturing

NAICS

Motor Vehicle Parts Manufacturing (3363), Motorcycle, Bicycle, and Parts Manufacturing (336991), Motor Vehicle Steering and Suspension Components (except Spring) Manufacturing (33633), Aerospace Product and Parts Manufacturing (33641), Other Aircraft Parts and Auxiliary Equipment Manufacturing (336413), Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320)

SIC

Motor Vehicles & Passenger Car Bodies (3711), Aircraft & Parts (3720), Aircraft Engines & Engine Parts (3724)

akta.pro primary industry

Body Panels, Doors, Hoods & Closures Manufacturing (IMACAGAH)

akta.pro secondary industries

Aftermarket Exhaust & Emissions Components Manufacturing (Mufflers/Catalysts/DPF/EGR) (IMACANAE), Truck Body & Upfit Manufacturing (Box/Dump/Service/Refuse) (IMACAGAC)

Keywords

• Automotive component manufacturing
• Metal stamping fabrication
• Polymer injection molding
• EMobility components
• Aerospace precision engineering

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Automotive Component Manufacturing: Manufacturing and sale of automotive components including metal processing (chassis, BIW, exhaust systems, press parts, seating), polymer components (fairings, seat covers, helmets), suspension systems, mirror systems, and foundry products to OEMs. Revenue from long-term OEM supply contracts.
2. Electric Vehicle Components: Supply of EV-specific components including hub motors, controllers, EV chassis and frames to OEM and startup companies in the EV segment.
3. Aerospace and Defense Components: Manufacturing and supply of precision aerospace components including aero engine parts, satellite components, and defense equipment through recent acquisitions of Chester Hall Precision Engineering (UK) and SDM (Europe).

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Belrise Industries manufactures automotive and white goods components including chassis/BIW parts, exhaust systems, suspension components, mirror systems, polymer fairings and seat covers, and foundry products for two-wheeler, three-wheeler, and four-wheeler OEMs. The company also supplies eMobility components (EV hub motors, controllers, EV chassis and frames) and, following recent acquisitions, precision aerospace components to global aerospace customers. Manufacturing is delivered through 15+ facilities across 7 Indian states using integrated metal processing, polymer processing, surface treatment, and foundry operations.

Product overview

Belrise Industries is a Tier-1 automotive OEM manufacturing group in India with a diversified product portfolio spanning metal processing, polymer processing, surface treatment, mirror systems, suspension systems, foundry, home appliances, security hardware, e-mobility, and floriculture. The company operates as a single unified manufacturing platform with specialized divisions serving two-wheeler, three-wheeler, and four-wheeler (passenger and commercial vehicle) segments. Core products include chassis frames, exhaust systems, suspension components (shock absorbers, front forks), mirror systems, and an emerging eMobility division for EV components including hub motors, controllers, and EV chassis/frames. Manufacturing is supported by 15+ facilities across 7 Indian states with over 15,000 employees, serving major Indian and global OEMs including exports to US, Japan, UK, and China. The company was formerly known as Badve Engineering Ltd. and went public with an IPO in May 2025 raising Rs 2,150 crore.

Differentiator

Problem solved

Functional benefit

Brands

• Xara Flowers: Floriculture business segment of Belrise Industries
• Sportsindi

Products and services

• Metal Processing Components Chassis and BIW (Body-in-White) parts, exhaust systems, press parts, seating parts, and cross car beams manufactured for two-wheeler, three-wheeler, and four-wheeler OEMs using 450+ press machines (20MT to 1000MT hydraulic and mechanical) and 350/500GL4 full digital controlled PULSE MIG/MAG welding technology.
• Polymer Processing Components Two-wheeler fairings, seat and side covers, luggage boxes, helmets, and headlight housings produced using 200+ injection molding machines (60T to 1800T capacity), processing 3200 MT of polymer material monthly including PP, PP-GF, ABS, Nylon, PMMA, and Polycarbonate.
• Surface Treatment Services Tri hexavalent nickel chrome plating of mild steel and stainless steel meeting CASS tests, heat resistant liquid painting on metal, powder coating of galvanized sheets, and autophoretic painting for corrosion resistance.
• Mirror Systems Outer and inner rear view mirrors for passenger and commercial vehicles developed through technical collaboration with Fu Hwa Mirror Co Taiwan, including advanced technology mirror products such as multiple displays with recording and power-controlled features.
• Suspension Systems Front forks for two-wheelers, shock absorbers, semi-trailing arm, and wishbone assembly for passenger and commercial vehicles, with manufacturing including 5 shock/strut assembly lines at 300,000 pcs/month capacity and 2 TFF lines at 50,000 sets/month capacity.
• Foundry Products

Quantifiable outcome

• 14.7% YoY revenue growth in FY26 to Rs 95,091 million
• +4 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Chester Hall Precision Engineering Holdings LimitedcoreStrategic or Co-development Partner · 18 March 2026Belrise UK Holdings Limited acquired 100% of Chester Hall Precision Engineering Holdings Limited for £13.2 million. Chester Hall is a UK-based aerospace precision engineering company with 2024 turnover of £19.95 million, supplying aero engine and satellite components to major OEMs. The acquisition advances Belrise's strategic expansion into aerospace, aviation, space, and defense industries.
• SDM (European Aerospace Manufacturer)coreStrategic or Co-development Partner · 2 February 2026Belrise completed acquisition of SDM, a European aerospace precision-machined parts manufacturer for €0.35 million (approximately ₹3.2 crore). SDM specializes in precision machined components for aero structures, aero engines, and robotics, marking strategic diversification beyond automotive into aerospace and defense.
• Plasan Sasa (Israel)coreStrategic or Co-development Partner · 22 December 2025Belrise Industries and Plasan Sasa signed a three-year strategic agreement to jointly pursue opportunities in the Indian military market with ATEMM (All-Terrain Electric Mission Module) systems. The partnership includes localized production and technology transfer in India under Make in India and Atmanirbhar Bharat initiatives. Belrise becomes part of Plasan's global supply chain for cost-effective manufacturing.
• Fu Hwa Mirror Co TaiwancoreTechnology or IntegrationTechnical collaboration with Fu Hwa Mirror Co Taiwan for design, development, testing and validation, tooling and manufacturing engineering support for automotive rear view mirrors. Fu Hwa is a global leader in mirror manufacturing for all types of vehicles. The collaboration provides comprehensive technical support for mirror products including Multiple Displays with recording and power-controlled features.
• H-One IndiaminorStrategic or Co-development PartnerAcquisition of H-One India's Indian operations to strengthen manufacturing and design capabilities. The acquisition targets H-One India's high-tensile steel components and aims to expand Belrise's customer base and product offerings within the Indian automotive sector.

Scale indicators11 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Uno Minda: Indian auto component manufacturer specializing in mirrors, lighting, electronics, and switches for two/four-wheeler OEMs with comparable customer set and EV-transition exposure.
• Varroc Engineering: Indian Tier-1 supplier of exterior lighting, mirrors, electricals, and powertrain components serving two-wheeler and four-wheeler OEMs — directly overlapping Belrise's mirror systems and electrical content.
• Sundaram Fasteners: India-based manufacturer of high-tensile fasteners and powertrain components serving automotive OEMs — comparable in metal-forming capabilities and OEM-supply model.
• Endurance Technologies: Indian Tier-1 supplier focused on two/three/four-wheeler components including suspension, braking, and transmission parts with comparable OEM customer base and metal-processing operations.
• Bharat Forge: Large Indian auto component and forging company with diversification into aerospace/defense — closely comparable to Belrise's automotive core plus aerospace/defense pivot via acquisitions.
• Samvardhana Motherson International: India's largest diversified auto component manufacturer with global footprint, serving passenger and commercial vehicle OEMs with similar Tier-1 systems supply — a near-direct Indian-scale peer to Belrise.

Broad incumbents

• Bosch India: Indian arm of Bosch supplying automotive technology including electricals, electronics, and EV systems to OEMs — broad incumbent overlapping in automotive electronics and EV components.
• Schaeffler India: Subsidiary of global automotive/industrial supplier Schaeffler providing bearings, chassis, and drivetrain solutions to Indian and global OEMs — broader incumbent with overlapping mechanical-component footprint.

Regional players

• Suprajit Engineering: India-dominant manufacturer of automotive cables, halogen bulbs, and EV components for two/four-wheeler OEMs — closely comparable segment and customer footprint.

Others

• Chester Hall Precision Engineering: Aero-engine and satellite precision components supplier acquired by Belrise UK Holdings in March 2026 — included here as a now-subsidiary benchmark for comparable UK aerospace component peers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/badvegroup
• YouTubeyoutube.com/@belriseindustrieslimited9336
• Facebookfacebook.com/BelriseIndustriesLimited
• LinkedInlinkedin.com/company/belrise-industries

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Belrise Industries