Date and Nature of Exchange Query
Belrise Industries Limited received a query from the National Stock Exchange of India Limited's Listing Compliance Department dated January 7, 2026, regarding observations on the company's financial results submission for the quarter ended September 30, 2025. The query was in reference to the Outcome of Board Meeting-Financial Results submitted to the Exchange on November 11, 2025, under Regulation 33 of SEBI Listing Obligations and Disclosure Requirements Regulations.
Company's Clarification on Trading Volume and Financial Results
Query 1: Limited Review Report/Independent Auditor's Report Format and Date Issue
- The company confirmed it reviewed SEBI's prescribed format for the Consolidated Limited Review Report (LRR) via SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
- The discrepancy in the date mentioned in the Consolidated LRR was identified as an inadvertent clerical/typographical error during document generation
- The UDIN generated for the Consolidated LRR bears the correct date, establishing the actual signing and issuance date as November 11, 2025
- The company confirmed: (1) Limited Review was conducted in accordance with SEBI (LODR) Regulations, 2015 and relevant Standards on Review Engagements, (2) Audit scope, review conclusion, and financial results remain unchanged, (3) No impact on financial statements, disclosures, or investors, (4) Board-approved financial results are correct and valid, (5) Correct date of Consolidated LRR is November 11, 2025
Query 2: XBRL Filing Discrepancy - Half-Yearly Figures Instead of Quarterly
- The company acknowledged the XBRL filing contained half-yearly figures instead of quarterly figures inadvertently
- Revised XBRL filing with correct quarterly figures was submitted to both stock exchanges (NSE and BSE) on November 25, 2025
- Acknowledgement numbers: 129479 and 129480 for NSE submissions at 22:04:29 and 22:05:06 respectively
- BSE acknowledgement numbers: 2511202509451733 (25/11/2025 09:45:17 PM) and 2511202509432233 (25/11/2025 09:43:22 PM)
Regulatory Compliance Reference
The company's response specifically references compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Limited Review Report was conducted in accordance with SEBI (LODR) Regulations, 2015 and relevant Standards on Review Engagements (SRE 2410).
Financial Results Clarification Details
The Limited Review Report covered the unaudited Consolidated quarter and half year ended September 30, 2025, and year-to-date financial results for the period from April 1, 2025 to September 30, 2025. Key financial figures from the UDIN verification include:
- Cash and Cash Equivalents: ₹2,897.21 million (₹2,897,210,000)
- Revenue from Operations: ₹46,157.48 million (₹46,157,480,000)
- Unmodified opinion with no adverse comments
The consolidated results include the following subsidiaries:
- Badve Engineering Trading FZE (Wholly Owned Subsidiary)
- H-One India Private Limited (Wholly Owned Subsidiary)
- Belrise Defence and Aerospace Private Limited (Wholly Owned Subsidiary)
Foreign subsidiary (not reviewed by main auditor) figures for quarter ended September 30, 2025:
- Total Assets: ₹5,841.64 million
- Total Revenues: ₹9,234.31 million
- Net Profit After Tax: ₹93.63 million
- Total Comprehensive Income: ₹93.63 million
- Net Cash Flows (Apr 1-Sep 30, 2025): ₹19.75 million
Indian subsidiaries figures for quarter ended September 30, 2025:
- H-One India Pvt Ltd: Total Assets ₹3,088.31 million, Total Revenues ₹937.72 million, Profit After Tax ₹103.28 million, Total Comprehensive Income ₹103.28 million, Net Cash Flows -₹388.39 million
- Belrise Defence and Aerospace Pvt Ltd: Total Assets ₹1.50 million (pre-operative stage, no revenue contribution)
The parent company invested ₹1.49 million during the quarter in Belrise Defence and Aerospace Private Limited, which is in pre-operative stage.