Belrise Industries (formerly Badve Engineering) has reported its financial results for FY2025, with revenue of INR 82,908 million, up 11 percent YoY, as compared to INR 74,841 million last year.

The EBITDA came at INR 10,211 million, up 10 percent YoY, EBITDA margin of 12.3 percent, and profit after tax at INR 3,554 million, as against INR 3,138 million last year.

The company, a leading automotive component supplier, saw 81.3 percent of manufacturing revenue coming from the two-wheeler segment, three-wheelers contributed 3.6 percent, passenger vehicles 4.4 percent, commercial vehicles contributing 7.3 percent, while remaining came from other segments.

Belrise Industries also announced that it has repaid about INR 15,960 million debt through its recent IPO proceeds, which will further reduce interest cost savings and significantly improve debt ratios.

Shrikant Badve, Managing Director, Belrise Industries, said, “FY2025 has been a great year for Belrise Industries, marking our transition into the public markets and taking us a step closer to becoming one of India’s largest and most respected process engineering companies. Throughout the year, we made meaningful progress on multiple fronts. We ended FY2025 with total revenue from operations of INR 82,908 million, including INR 65,938 million from manufacturing activities, supported by strong offtake in key accounts, a better product mix and improved throughput from mature plants. Our EBITDA margin stood at 12.3 percent with profitability remaining stable despite raw material price fluctuations and cost absorption from newly commissioned facilities.”

“A key highlight of the year is that we are moving from a Tier-1 supplier (subsystem supplier) to a Tier 0.5 supplier (system supplier). This has led to an increasing share of systems and sub-assemblies in our manufacturing revenues — products that require greater engineering input and offer higher embedded value. Around 73 percent of our portfolio is now powertrain-agnostic, giving us the ability to scale across both ICE and EV platforms. The integration of H-One India and Mag Filters has further enhanced our capabilities. These additions not only expand our product reach but also bring added relevance across PV and CV platforms, where we see growing customer interest.

From the recently completed IPO, we have already repaid debt of INR 15,960 million, which will lead to the reduction in interest costs and a significant improvement in debt ratios over the year.”

Going forward, he expects that in FY2026 the auto component industry to grow at a steady pace led by two-wheeler and passenger vehicle segments.

“We believe Belrise is well positioned to benefit from this trend and is estimated to grow faster than the industry at mid-teen levels, supported by strong relationships Tier-1 OEMs. As we move into FY26, we remain focused on expanding our presence in the 4W and CV segments, while continuing to build on our core strengths. Our approach will remain anchored in product premiumisation, engineering capability and operational efficiencies — ensuring we scale responsibly and sustainably in the years ahead.”

Comments (0)

ADD COMMENT

Link Copied!

Aligarh-headquartered automotive component maker Pavna Industries is forming a a 80:20 joint venture with Taiwan-based SmartChip Microelectronic Corporation (SMC).

As per the understanding, Pavna will undertake and carry on the business of inter-alia making electronic components for the automobile industry (ICE & EV) and other industries, including hardware for residential/commercial industries, aero and medical, among others in India.

The JV will leverage Pavna’s operational, manufacturing and procurement expertise, as well as its deep understanding of the Indian automotive market, to oversee and manage the operations in India.

On the other hand, SMC will contribute its present and future technical skills, innovations and R&D capabilities in automotive e-lock systems, EV components like motor controller, throttle body, dashboard for two-wheeler & three-wheeler, EV charging piles and e-locking solutions for residential and commercial applications. SMC’s engineering and product development expertise will ensure the JV remains technologically advanced and globally competitive.

Swapnil Jain, Managing Director, Pavna Industries, sai,d "This strategic partnership is an important milestone on our path to emerging as a mobility solutions leader in advanced technologies. By merging Pavna's manufacturing and market capabilities with SMC's state-of-the-art electronics knowledge, we expect to speed up the penetration of EV technologies in India as well as grow into new high-growth markets. With this partnership, we will also further enhance our capacity to serve domestic and global markets with innovative, dependable, and sustainable solutions."

Comments (0)

ADD COMMENT

Link Copied!

Gulf Oil Lubricants India Limited, a Hinduja Group company, has announced its unaudited financial results for the quarter ended 30 June 2025, reporting its highest-ever quarterly volume, revenue, and EBITDA. The company achieved double-digit volume growth, which was more than three times the industry growth rate. Consolidated quarterly revenue exceeded INR 10 billion for the first time.

On a standalone basis, the company's revenue from operations was INR 9.96 billion, a 12.57 percent increase YoY, with a Profit After Tax of INR 9.6 billion, up 9.81 percent YoY. Consolidated revenue reached INR 1.01 billion, an increase of 13.69 percent YoY and PAT grew by 12.90 percent to INR 951.7 billion, . The company's EV charger subsidiary, Tirex, also saw significant growth, with its revenue for the quarter increasing by over 163 percent.

Strategic Developments and Outlook

The Board of Directors has approved an INR 550 million capital expenditure (Capex) plan to increase manufacturing capacity by 70 percent, from 140 million litres to 240 million litres. This expansion will be spread over two years and is a key strategic initiative to support the company’s growth ambitions. The Silvassa plant's capacity will increase by 55 percent to 140 million litres, while the Chennai plant's capacity will double to 100 million litres.

Ravi Chawla, Managing Director and CEO, Gulf Oil, said, “The year began on a strong note, delivering yet another market leading performance achieving double-digit volume growth of 11% during the quarter, clearly over 3x the industry growth rate. This underscores the strength of our brand and continued trust of our consumers. Our EV charger subsidiary, Tirex, continued to perform well and closed the quarter with over 163 percent growth in topline catering to broader customer base."

Manish Gangwal, CFO, Gulf Oil, added, "We are quite excited to see our consolidated revenue crossing INR 10 billion as we concluded the quarter with highest-ever volume, revenue and EBITDA, driven by strong strategic execution resulting in profitable, volume-led growth.” He also noted that the company's operating profit for the quarter was Rs. 126.58 crores, a growth of 8.9% over the same period last year.

Comments (0)

ADD COMMENT

Link Copied!

Minda Corporation, the flagship company of tier 1 supplier Spark Minda, has announced its financial results for Q1 FY2026 with revenue of INR 13.86 billion, up 16.2 percent YoY, EBITDA of INR 1.56 billion, EBITDA margin of 11.3 percent and a net profit growth of 4.7 percent at INR 650 million.

The tier 1 supplier attributes the growth to its strong product portfolio, expanding customer base and a focus on product premiumisation.

During the period, Minda Corporation also entered into an agreement with Toyodenso to establish a 60:40 joint venture in India for manufacturing and selling of advanced automotive switches.

It aims to provide end-to end solutions for automotive switches across two-wheelers, passenger cars and other automotive segments in India. The new JV has already received orders from customers in India with a greenfield plant to be set up in Noida. The operations are expected to commence in H2 of FY2027.

Furthermore, Minda Corporation also inked a collaboration with Qualcomm to co-develop Smart Cockpit Solutions.

Ashok Minda, Chairman and Group CEO, Minda Corporation, said, “The first quarter of FY26 witnessed a strong performance, supported by resilient demand across key vehicle segments. Leveraging our focus on operational excellence, technology integration, and customer-centric initiatives, we continued to strengthen our market position. As we progress through the year, we remain focused on expanding our market reach, enhancing exports, and delivering sustainable value to our stakeholders through consistent execution and strategic initiatives.”

Comments (0)

ADD COMMENT

Link Copied!

American tier 1 supplier BorgWarner has announced that it has bagged a new order from a major Chinese original equipment manufacturer (OEM) for its electric motors.

As per the understanding, BorgWarner will supply a platform-based design, compatible across a full range of NEV applications, including battery electric and hybrid models. It also incorporates BorgWarner’s innovative ultra-short hairpin welding process, which reduces end-turn height for a more compact structure and significantly improves space utilisation.       

Dr Stefan Demmerle, Vice-President, BorgWarner Inc and president & General Manager, PowerDrive Systems, said, “We are pleased with the continued progress of our electric motor business in China. Our partnership with this customer spans nearly a decade. BorgWarner remains committed to delivering smarter, more efficient motor solutions as we work together toward an electrified future.”

Furthermore, to meet rising demand from the Chinese automotive industry, BorgWarner is expanding its motor operations and early this year it signed a MoU with the Wuhu municipal government to establish a new manufacturing base for electric drive systems.

Once on stream, the facility will feature intelligent manufacturing lines capable of producing multiple motor platforms on shared lines, increasing motor capacity and laying a solid foundation for scaled delivery.

Comments (0)

ADD COMMENT

Link Copied!