Financial Results (All amounts in ¥ Million)

Standalone Results for Q2 FY27 (Quarter ended September 30, 2026):

  • Revenue from operations: ¥23,535.41 million
  • Other income: ¥269.09 million
  • Total income: ¥23,804.50 million
  • Profit before tax: ¥1,806.69 million
  • Total tax expense: ¥476.88 million
  • Profit for the period: ¥1,329.81 million
  • Basic EPS: ¥1.63
  • Diluted EPS: ¥1.63

Standalone Results for H1 FY27 (Half year ended September 30, 2026):

  • Revenue from operations: ¥46,157.48 million
  • Other income: ¥559.64 million
  • Total income: ¥46,717.12 million
  • Profit before tax: ¥3,201.91 million
  • Total tax expense: ¥755.30 million
  • Profit for the period: ¥2,446.62 million
  • Basic EPS: ¥2.99
  • Diluted EPS: ¥2.99

Consolidated Results for Q2 FY27:

  • Revenue from operations: ¥35,999.69 million
  • Other income: ¥429.32 million
  • Total income: ¥36,429.01 million
  • Profit before tax: ¥2,946.57 million
  • Total tax expense: ¥692.67 million
  • Profit for the period: ¥2,253.91 million
  • Basic EPS: ¥2.76
  • Diluted EPS: ¥2.76

Consolidated Results for H1 FY27:

  • Revenue from operations: ¥75,283.30 million
  • Other income: ¥950.88 million
  • Total income: ¥76,234.19 million
  • Profit before tax: ¥6,382.91 million
  • Total tax expense: ¥1,598.87 million
  • Profit for the period: ¥4,784.04 million
  • Basic EPS: ¥5.60
  • Diluted EPS: ¥5.60

Balance Sheet Highlights (As at September 30, 2026)

Standalone:

  • Total assets: ¥99,711.24 million
  • Equity share capital: ¥4,835.76 million
  • Other equity: ¥64,850.42 million
  • Total equity: ¥69,686.18 million

Consolidated:

  • Total assets: ¥109,048.37 million
  • Equity share capital: ¥4,835.76 million
  • Other equity: ¥66,436.08 million
  • Total equity: ¥71,271.84 million

Board Approvals

The Board of Directors at its meeting held on November 13, 2026 approved:

1. Unaudited Standalone and Consolidated Financial Results for quarter and half year ended September 30, 2026

2. Limited Review Report from joint statutory auditors with unmodified opinion

3. Incorporation of Special Purpose Vehicle (SPV) under PM SETU Project and execution of Shareholders Agreement (additional information to be disclosed later)

4. Amendment in policy on materiality of related party transactions

5. Scheme of Amalgamation between H One India Private Limited and Belrise Industries Limited and their respective shareholders and creditors (additional information to be disclosed later)

Corporate Actions and Developments

1. QIP Fundraising: On July 17, 2026, the company allotted 77,272,727 equity shares of ₹5 each at ₹220 per share, aggregating to ₹17,000 million. Paid-up equity share capital increased to ₹4,835.76 million comprising 967,151,919 equity shares.

2. Dividend: Shareholders declared dividend of ₹0.55 per equity share (face value ₹5) for FY26, disbursed on October 15, 2026.

3. Authorized Capital Increase: Shareholders approved increase in authorized share capital from ₹500 crore to ₹550 crore divided into 1,100 million equity shares of ₹5 each.

4. Business Acquisition: On August 4, 2026, the company entered into Business Transfer Agreement for acquisition of India Tipper Body Business of Hyva (India) Private Limited for approximately USD 5.65 million.

5. Scheme of Amalgamation: Board approved fresh Scheme of Amalgamation of H-One India Private Limited (wholly owned subsidiary) with Belrise Industries Limited, to be filed with NCLT Mumbai Bench.

Subsidiary Information

The consolidated financial results include:

  • Wholly owned subsidiaries: Badve Engineering Trading FZE (UAE), H One India Private Limited, Belrise Defence & Aerospace Private Limited (India)
  • Step-down subsidiaries: Belrise SDM (France), Belrise UK Holdings Limited, Chester Hall Precision Engineering Holdings Limited, Chester Hall Precision Engineering Limited (UK)

Audit Review

The joint statutory auditors (Shailesh Haribhakti & Associates and Rathi Rathi and Co) provided limited review reports with unmodified conclusion on the financial results.