Key Decisions and Approvals

The Board of Directors meeting, which commenced at 4:00 PM IST and concluded at 5:40 PM IST on Sunday, May 24, 2026, considered and approved the following items:

1. Financial Results

  • Approved the audited Standalone and Consolidated Financial Results for the quarter and financial year ended March 31, 2026.
  • Approved the Auditor's Report on the said financial results.
  • Approved a declaration pursuant to Regulation 33(3)(d) regarding an unmodified opinion from the Statutory Auditors on the Financial Results.

2. Recommendation of Final Dividend

  • Recommended a final dividend of ₹0.55 (11%) per equity share of face value ₹5 each for the financial year ending March 31, 2026.
  • This dividend payout is subject to the approval of the members (shareholders) of the Company at the ensuing Annual General Meeting (AGM).

3. Raising of Funds

  • Approved raising funds aggregating up to ₹20,000.00 Million (INR Twenty Thousand Million).
  • The funds will be raised by issuing equity shares or any other equity-linked instruments permissible under applicable laws.
  • The method of issuance will be a Qualified Institutions Placement (QIP).
  • This proposal is subject to the approval of the shareholders of the Company and any required governmental, regulatory, or statutory authorities.

4. Postal Ballot Notice

  • Approved issuing a notice of postal ballot to seek the requisite approval of the shareholders for the aforementioned fund-raising and/or other related matters.
  • The notice will be intimated to the stock exchanges in due course when circulated to shareholders for e-voting.

5. Corporate Guarantee

  • Approved providing a Corporate Guarantee in connection with an External Commercial Borrowing (ECB) facility.
  • The ECB facility, aggregating up to EUR 3,300,000 (Euro Three Million Three Hundred Thousand), is proposed to be availed by Belrise Defence and Aerospace Private Limited, a wholly-owned subsidiary of the Company.
  • The guarantee amount will be up to EUR 3,300,000, representing 110% of the ECB facility amount.
  • Detailed disclosures for this guarantee, as required under SEBI Listing Regulations, will be intimated upon its issuance.

Detailed Financial Results (Annexure A)

Standalone Financials (All amounts in ₹ Million, except per share data)

Income Statement for Year Ended March 31, 2026 (Audited)

  • Revenue from operations: ₹75,283.30 (Prev. Year: ₹65,938.07)
  • Other income: ₹950.88 (Prev. Year: ₹1,097.58)
  • Total Income: ₹76,234.19 (Prev. Year: ₹66,585.83)
  • Total Expenses: ₹69,799.92 (Prev. Year: ₹62,359.75)
  • Profit before exceptional items and tax: ₹6,434.27 (Prev. Year: ₹4,226.09)
  • Exceptional items: ₹51.36 (Statutory impact of new Labour codes - gratuity ₹2.52 Cr, compensated absences ₹2.61 Cr)
  • Profit before tax: ₹6,382.91 (Prev. Year: ₹4,226.09)
  • Total Tax expense: ₹1,598.87 (Prev. Year: ₹901.33)
  • Profit for the period: ₹4,784.04 (Prev. Year: ₹3,324.76)
  • Total Comprehensive Income: ₹4,818.21 (Prev. Year: ₹3,318.79)
  • Paid-up Equity Share Capital: ₹4,449.40 (Face value ₹5 each)
  • Basic & Diluted EPS: ₹5.11 (Prev. Year: ₹5.60)

Balance Sheet as at March 31, 2026 (Audited)

  • Total Assets: ₹78,729.61 (Prev. Year: ₹65,180.11)
  • Total Equity: ₹50,835.32 (Prev. Year: ₹25,770.44)
  • Total Liabilities: ₹27,894.29 (Prev. Year: ₹39,409.67)

Cash Flow for Year Ended March 31, 2026 (Audited)

  • Net Cash from Operating Activities: ₹8,165.36
  • Net Cash used in Investing Activities: (₹4,866.37)
  • Net Cash from Financing Activities: ₹3,957.50
  • Net Increase in Cash: ₹7,256.49
  • Cash and Cash Equivalents at period end: ₹7,497.53

Consolidated Financials (All amounts in ₹ Million, except per share data)

Income Statement for Year Ended March 31, 2026 (Audited)

  • Revenue from operations: ₹95,091.02 (Prev. Year: ₹82,908.16)
  • Other income: ₹1,097.58 (Prev. Year: ₹616.31)
  • Total Income: ₹96,188.60 (Prev. Year: ₹83,524.48)
  • Total Expenses: ₹89,479.57 (Prev. Year: ₹79,068.72)
  • Profit before exceptional items and tax: ₹6,709.03 (Prev. Year: ₹4,455.76)
  • Exceptional items: ₹51.36
  • Profit before tax: ₹6,657.68 (Prev. Year: ₹4,455.76)
  • Total Tax expense: ₹1,689.08 (Prev. Year: ₹901.33)
  • Profit for the period: ₹4,968.60 (Prev. Year: ₹3,654.43)
  • Total Comprehensive Income: ₹5,006.10 (Prev. Year: ₹3,548.47)
  • Paid-up Equity Share Capital: ₹4,449.40 (Face value ₹5 each)
  • Basic & Diluted EPS: ₹5.82 (Prev. Year: ₹5.46)

Balance Sheet as at March 31, 2026 (Audited)

  • Total Assets: ₹85,497.86 (Prev. Year: ₹72,254.85)
  • Total Equity: ₹52,262.85 (Prev. Year: ₹39,467.33)
  • Total Liabilities: ₹33,235.01 (Prev. Year: ₹32,787.52)

Cash Flow for Year Ended March 31, 2026 (Audited)

  • Net Cash from Operating Activities: ₹8,756.01
  • Net Cash used in Investing Activities: (₹4,747.89)
  • Net Cash from Financing Activities: ₹3,278.67
  • Net Increase in Cash: ₹7,286.78
  • Cash and Cash Equivalents at period end: ₹8,060.08

Subsidiary and Corporate Updates

  • The consolidated results include the Company's wholly-owned subsidiaries: Badve Engineering Trading FZE (UAE), H One India Private Limited (India), and Belrise Defence & Aerospace Private Limited (India).
  • It also includes step-down subsidiaries: Belrise SDM (France) and Belrise UK Holdings Limited (UK).
  • Belrise UK Holdings Limited was incorporated on February 6, 2026, by Belrise Defence and Aerospace. It has an issued share capital of 100 Ordinary shares of £1.00 each.
  • A Scheme of Amalgamation involving Badve Autocomps Private Limited, Eximius Infra Tech Solutions Private Limited, and Belrise Industries Limited was approved by the Board on January 31, 2026. The company is seeking a no-objection certificate from stock exchanges before filing with the NCLT, Mumbai.
  • The company's subsidiaries acquired aerospace-related equipment for Euro 350,000 from SAS Société Dupuis Mécanique (in judicial liquidation in France) pursuant to a Commercial Court of Arras order dated January 21, 2026.

Regulatory and Exceptional Item

  • The Government of India notified four Labour Codes on November 21, 2025. The company assessed an incremental impact, presented as an exceptional item, due to changes in the wage definition.
  • The impact includes gratuity of ₹2.52 crore and compensated absences of ₹2.61 crore.
  • The company will monitor the finalization of rules and provide accounting effects as needed.

Auditor Reports

  • The Statutory Auditors, GSA & Associates LLP, issued unmodified opinions on both the Standalone and Consolidated Financial Results for the year ended March 31, 2026.
  • For the consolidated results, the audit relied on the reports of other auditors for subsidiaries. The financial statements of one step-down subsidiary were unaudited but were considered immaterial to the Group.
  • A declaration from the CFO, Rahul Shashikant Ganu, confirming the unmodified audit opinion was provided.

Additional Information

  • The operating segment is identified as 'Automotive Components'.
  • There was no deviation in the utilization of IPO proceeds for the quarter.
  • There were no material changes in the composition of the listed entity affecting the financial results.
  • The submission is also available on the Company's website in the 'Investor Relations' section.