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Economic Times
20-05-2025
- Automotive
- Economic Times
Strategic acquisition, expanding reach key to future growth of IPO-bound Belrise
Live Events Business Valuation (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel IPO dates: May 21-23, 2025IPO price: Rs85-90Issue size: Upto Rs2,150 croreImplied market cap: Upto Rs8,009 croreFace value: Rs5Lot size: 166Retail portion: 35%Pune headquartered Belrise Industries, an auto ancillary company, plans to raise Rs2,150 crore through a fresh issue of equity to repay partial debt. The promoter group's stake will fall to 73% after the IPO from 100%. Its product portfolio consists of automotive sheet metal & casting parts, polymer components, suspension & mirror systems. Its recent acquisition of H-One India is likely to improve the product portfolio. However, its operating margin before depreciation and amortisation (EBITDA margin) has been declining since the past two years. The debt-equity ratio at around one is higher than 0.1-0.4 for some of the peers. It is expected to reduce after the IPO, which in turn may bring down interest expenses. Though the IPO valuation is cheaper than peers, investors may wait to see improved financial performance after in 1996, Belrise Industries specializes in component manufacturing for automotive & white goods industries. It has also started delivering e-mobility components & subsystems. As of March 31, 2025, the company operated 17 manufacturing facilities across 10 cities in nine states across India. As of December 31, 2024, the company serviced 29 original equipment makers (OEMs) globally. Exports contributed 25% to revenue in the nine months to December. In March 2025, Belrise acquired H-One India, a subsidiary of Japan's H-One Company, to enhance capabilities in metal stamping and fabrication for 4-Wheelers. The company plans to expand the distribution network to over 150 points across India within the next 2 grew by 18% annually to Rs7,484 crore between FY22 and FY24 while net profit rose by 9% to Rs311 crore. EBITDA margin declined gradually from 14.2% in FY22 to 12.5% in FY24. In the nine-months to December 2024, revenue grew by a modest 1% to Rs6,013.4 crore while net profit reduced by 17% to Rs245.5 crore due to higher finance cost and higher deferred tax credit in the year-ago period. EBITDA margin remained constant at 12.8%.Considering the post-IPO equity and annualised net profit for the nine months to December 2024, the company demands a price-earnings (P/E) multiple of upto 24 compared with P/Es between 42 and 80 for peers including Motherson Sumi Wiring India Minda Corporation and JBM Auto
Time of India
20-05-2025
- Automotive
- Time of India
Strategic acquisition, expanding reach key to future growth of IPO-bound Belrise
IPO dates: May 21-23, 2025 IPO price: Rs85-90 Issue size: Upto Rs2,150 crore by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo Implied market cap: Upto Rs8,009 crore Face value: Rs5 Lot size: 166 Retail portion: 35% Pune headquartered Belrise Industries, an auto ancillary company, plans to raise Rs2,150 crore through a fresh issue of equity to repay partial debt. The promoter group's stake will fall to 73% after the IPO from 100%. Its product portfolio consists of automotive sheet metal & casting parts, polymer components, suspension & mirror systems. Its recent acquisition of H-One India is likely to improve the product portfolio. However, its operating margin before depreciation and amortisation (EBITDA margin) has been declining since the past two years. The debt-equity ratio at around one is higher than 0.1-0.4 for some of the peers. It is expected to reduce after the IPO, which in turn may bring down interest expenses. Though the IPO valuation is cheaper than peers, investors may wait to see improved financial performance after listing. Live Events Business Incorporated in 1996, Belrise Industries specializes in component manufacturing for automotive & white goods industries. It has also started delivering e-mobility components & subsystems. As of March 31, 2025, the company operated 17 manufacturing facilities across 10 cities in nine states across India. As of December 31, 2024, the company serviced 29 original equipment makers (OEMs) globally. Exports contributed 25% to revenue in the nine months to December. In March 2025, Belrise acquired H-One India, a subsidiary of Japan's H-One Company, to enhance capabilities in metal stamping and fabrication for 4-Wheelers. The company plans to expand the distribution network to over 150 points across India within the next 2 years. Financials Revenue grew by 18% annually to Rs7,484 crore between FY22 and FY24 while net profit rose by 9% to Rs311 crore. EBITDA margin declined gradually from 14.2% in FY22 to 12.5% in FY24. In the nine-months to December 2024, revenue grew by a modest 1% to Rs6,013.4 crore while net profit reduced by 17% to Rs245.5 crore due to higher finance cost and higher deferred tax credit in the year-ago period. EBITDA margin remained constant at 12.8%. Valuation Considering the post-IPO equity and annualised net profit for the nine months to December 2024, the company demands a price-earnings (P/E) multiple of upto 24 compared with P/Es between 42 and 80 for peers including Motherson Sumi Wiring India , Minda Corporation and JBM Auto .
Express Tribune
22-04-2025
- Business
- Express Tribune
Gold peaks as market fears correction
Listen to article As gold prices soared to new heights in Pakistan on Tuesday, following a global surge, investors found themselves in uncertain waters. Experts are now forecasting a significant correction, despite the ongoing record-breaking gains. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold surged by Rs5,900 per tola, reaching a historic high of Rs363,700 in the local market. The price of 10 grams of gold also jumped significantly, climbing Rs5,059 to settle at Rs311,814. This follows a sharp increase on Monday when gold prices per tola rose by Rs8,100 to hit the then-record high of Rs357,800. Internationally, gold prices also scaled new heights. APGJSA reported the global rate at $3,454 per ounce on Tuesday — including a $20 premium — marking a daily gain of $59. Commenting on the development, Adnan Agar, Director at Interactive Commodities, noted that gold touched a peak of $3,500 in the international market before retreating to $3,426. "The market is now $75 below its intraday high, signalling the potential for an even bigger correction," he said. "If prices dip below $3,400, further downward movement is likely. Otherwise, a rebound could be on the cards. Today's closing price will be crucial in determining the near-term trend." The persistent rally in gold is being closely watched by investors amid global economic uncertainty and currency fluctuations, he said. Meanwhile, the Pakistani rupee posted a marginal gain against the US dollar in the inter-bank market on Tuesday, appreciating by 0.04%. According to the State Bank of Pakistan, the local currency closed at 280.77, up by 10 paisas compared to Monday's closing rate of 280.87. Globally, the US dollar remained under pressure, hovering near multi-year lows as investor confidence weakened amid persistent criticism of the Federal Reserve by President Donald Trump. The dollar edged close to its lowest level in nearly a decade against the Swiss franc and hovered near a three-and-a-half-year low against the euro. Trump intensified his attacks on Fed Chair Jerome Powell in a Truth Social post on Monday, branding him a "major loser" and urging an immediate rate cut to avoid a potential economic downturn.
Express Tribune
22-04-2025
- Business
- Express Tribune
Gold prices hit new record high in Pakistan amid global surge
Listen to article Gold prices in Pakistan surged to an all-time high on Tuesday, tracking a sharp rise in international rates. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of per tola gold rose by Rs5,900 in a single day, reaching a record Rs363,700. The price of 10 grams of gold also increased by Rs5,059, settling at Rs311,814. This follows Monday's sharp rise of Rs8,100 per tola, which had pushed gold prices to Rs357,800 — a then-record level. In the international market, gold prices also climbed to a new high. As per APGJSA, the global rate reached $3,454 per ounce (including a $20 premium), marking a $59 increase during the day. In contrast, silver prices in the local market remained unchanged at Rs3,441 per tola. Meanwhile, Spot gold was up about 1% at $3,457.12 an ounce by 1025 GMT, after earlier rising as far as $3,500.05. US gold futures gained 1.3% to $3,469.50. Spot silver was steady at $32.68 an ounce, platinum gained 1% to $971.40, and palladium jumped 1.8% to $944.27.
Business Recorder
22-04-2025
- Business
- Business Recorder
Gold continues to soar, gains further Rs5,900 to hit fresh record high in Pakistan
Gold prices continued to soar in Pakistan in line with their increase in the international market. In the local market, the price of 1 tola gold reached record Rs363,700 after a single-day gain of Rs5,900 on Tuesday. Similarly, 10-gram gold was sold at Rs311,814 after it registered an increase of Rs5,059, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Monday, gold price per tola gained of Rs8,100 to hit then all-time high of Rs357,800. The international rate of gold also hit a fresh record high on Tuesday. As per APGJSA, the rate was at $3,454 per ounce (with a premium of $20), an increase of $59 during the day. Meanwhile, silver price remained stable at Rs3,441 per tola.
