“We anticipate a growth rate in the mid-teens over the medium term. This will be achieved through both organic growth and inorganic acquisitions,” noted Swastid Badve.
The company plans to introduce three new products in FY26, which will increase its content per vehicle in the two-wheeler segment by 45-50%. “Our current ideal content per vehicle stands at ₹12,500, but this isn’t uniform across all our OEMs. We aim to achieve that ₹12,500 content per vehicle level with all our key OEM partners moving forward,” he added.
Belrise collaborates with all six leading two-wheeler OEMs and has formed partnerships with several emerging EV manufacturers.
On the four-wheeler front, the promoters see substantial growth potential, particularly following the acquisition of H-ONE’s India operations. “Currently, we’re at around 12.5% in terms of revenue contribution from passenger cars and commercial vehicles. We expect this to grow significantly over the next two to two and a half years,” stated Sumedh Badve.
Belrise has also significantly reduced its debt following its IPO. From a pre-IPO debt level of ₹2,600 crore, the company utilized ₹1,600 crore from the issue proceeds for repayment, lowering its outstanding debt to below ₹1,000 crore.
Margins, which were reported at 12.1% in Q4FY25 compared to 11.4% the previous year, are expected to remain stable in the upcoming year, the company indicated.
Watch the accompanying video for the full conversation.
