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.”

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India Resurgence Fund (IndiaRF), an investment platform promoted by Piramal Finance and Bain Capital, has acquired a majority stake in Fine Edge Engineering, which houses the iron casting and machining business of Ashok Iron Works and its related entities.

Founded in 1974, the Belagavi, Karnataka-based Ashok Iron Works Group manufactures machined iron castings. The company operates four foundries with an annual capacity of 144,000 metric tonnes and seven machine shops capable of producing 600,000 parts per year.

The company manufactures engine blocks, engine heads and transmission housings weighing between 20 kilograms and 5,000 kilograms, with capabilities to machine engine blocks from single-cylinder to 18-cylinder configurations. Its products supply industrial engine, agricultural equipment and automotive manufacturing sectors.

Shantanu Nalavadi, Managing Director, IndiaRF, said, “IndiaRF is excited about the Company’s growth potential and sees significant opportunities to further strengthen its capabilities and scale the business. We will support the business through investments in capacity expansion, R&D, new product development and operational excellence, while building on its long-standing customer relationships. The Company is also well positioned to benefit from growing demand for high-horsepower engine applications, particularly as the global data centre build-out accelerates.”

Jayant Humbarwadi, Joint Managing Director, Ashok Iron Works Group, said, “Over the past four decades, we have built a strong position in the iron casting and machining industry, supported by long-standing customer relationships, strong R&D capabilities and a focus on meeting our customers' evolving requirements. We are a single- or dual-source supplier to most of our customers and are pleased to partner with IndiaRF, whose experience in transforming businesses will support the Company's next phase of growth.”

The transaction provides capital for capacity expansion and research and development activities, while positioning the manufacturing unit to meet supply demands across industrial and high-horsepower engine markets.

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Automotive tier 1 supplier Uno Minda has announced its financial results for Q1 FY2027, achieving INR 55.57 billion in consolidated revenue, up 26 percent YoY. Last year, the company attained normalised revenue of INR 44.20 billion (i.e. excluding prior period income of INR 690 million) in Q1FY2026.

The EBITDA came at INR 5.72 billion, net profit of INR 2.96 billion, up 24 percent YoY.

This company witnessed growth across its core product offerings, including switches, lighting, alloy wheels, seating, as well as its new-age EV systems and alternate fuel divisions.

Ravi Mehra, Managing Director, Uno Minda, said, “Q1 FY27 reinforces Uno Minda’s strategic trajectory as we continue to outperform the broader automotive market. The ongoing shift toward vehicle premiumisation, connected mobility, and electrification is fundamentally elevating per-vehicle content across segments. By aligning our R&D roadmap with these structural industry shifts and accelerating execution across our new-age platforms, we are not just participating in market growth—we are driving the technological evolution of the vehicle cabin. Backed by disciplined capital deployment and expanding capacity, we are exceptionally well-positioned to lead the next phase of mobility innovation”

Sunil Bohra, CFO, Uno Minda, added, “Q1 FY27 marks a historic milestone for Uno Minda, as we delivered our highest-ever quarterly revenues with 26% YoY growth and a 24% increase in PAT. While we navigated a challenging commodity pricing environment during the quarter, underlying demand across the automotive sector remains strong. Our resilient performance reflects the strength of our technology leadership, product diversification, and focus on operational efficiencies. Driven by multiple growth initiatives, strategic investments, and increasing momentum in our new-age businesses, we remain confident of delivering sustainable, profitable growth while creating long-term value for our shareholders and other stakeholders.”

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Automotive supplier BorgWarner has secured extensions for multiple high-voltage inverter programs with a European original equipment manufacturer (OEM). The contract covers inverter designs for plug-in hybrid and 800V battery-electric vehicle platforms, with the start of production planned for 2029.

Under the agreement, BorgWarner will supply updated high-voltage inverters for plug-in hybrid vehicles incorporating its Application-Specific Integrated Circuit (ASIC) technology, configured to interface with the OEM's vehicle operating system.

For 800V battery-electric applications, the company will supply traction inverters utilising its Viper silicon carbide (SiC) power switches paired with a dual-sided-cooled power module.

Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said, “Extending several high-volume programs at the same time confirms BorgWarner's leading position in power electronics and the strength of our technology, in-house expertise and customer focus. Evolving our inverters generation by generation together with our customers, for both hybrid and fully electric applications, is how we build trusted, long-term partnerships with the world's leading OEMs.”

The inverter families are developed to support power management across both hybrid and electric drive architectures.

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Automotive cable and shifter manufacturer Remsons Industries has appointed Rahul Prabhakar Desai as its new Chief Executive Officer, effective 3 August 2026. He succeeds Amit Srivastava, whose resignation takes effect at the close of business hours on 4 September 2026.

Desai comes with three decades of experience in automotive manufacturing, including 17 years in executive roles. Before joining Remsons Industries, he was Executive Director and Chief Executive Officer at Pinnacle Industries, overseeing five manufacturing facilities.

He previously served as Chief Executive Officer at CIE India, managing multiple business divisions and ten manufacturing plants, and held leadership positions at GKN Sinter Metals and Inteva Products.

Throughout his career, Desai has managed greenfield plant setups, manufacturing optimisation projects and supply partnerships with original equipment manufacturers. He holds a bachelor's degree in mechanical engineering, a Six Sigma Black Belt certification and has completed executive management training at the Indian Institute of Management Ahmedabad alongside technical programs in Japan and the United States.

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