Belrise Industries logo

Belrise Industries MD, chairman, board of directors and AGM

NSE: BELRISEBSE: 544405Auto ComponentsSmall Cap

Last close ₹204.06down ₹10.68 (4.97%)BSE ₹204.10

Share price at the NSE close on 23 Oct 2026. Previous close ₹214.74.

52-week range of traded prices to 23 Oct 2026
₹142.59Low, 4 Nov 2025₹268.20High, 12 Aug 2026
Market cap
₹19,736 Cr375th largest listed
P/E
38.9
P/B
Shares changed
Dividend yield
0.27%
ROE
12.8%
ROCE
12.0%
Debt to equity
0.28
Volume, NSE
61,93,70167.5% delivered

Belrise Industries board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Managing directorSHRIKANT SHANKAR BADVE
  • Company Secretary and Compliance OfficerSiddhesh Mandke

7 directors4 independent2 executive1 non-executive

  • SHRIKANT SHANKAR BADVE · Managing directorExecutive · joined Feb 2002 · reappointed Jan 2023 · 1 listed board
  • SUPRIYA SHRIKANT BADVEExecutive · joined Jul 2008 · reappointed Sep 2025 · 1 listed board
  • ASHOK VISHNU TAGARENon-executive · joined Mar 2002 · 1 listed board · 1 committee seat, 1 as chair
  • DILIP BINDUMADHAV HUDDARIndependent · joined Jun 2019 · reappointed Sep 2024 · 84 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • GIRISH KUMAR AHUJAIndependent · joined Nov 2023 · reappointed Nov 2023 · 31 months as independent · 5 listed boards · 4 as independent · 8 committee seats, 4 as chair
  • MILIND PRALHAD KAMBLEIndependent · joined Jan 2024 · reappointed Jan 2024 · 29 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • SANGEETA SINGHIndependent · joined Oct 2024 · reappointed Oct 2024 · 20 months as independent · 3 listed boards · 3 as independent · 1 committee seat, 1 as chair

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 14 Jun 20267 of 7 present4 independent · 20 days in between
    • 24 May 20267 of 7 present4 independent · 112 days in between
    • 31 Jan 20267 of 7 present4 independent
  • Audit Committee

    Chair GIRISH KUMAR AHUJA

    DILIP BINDUMADHAV HUDDAR, ASHOK VISHNU TAGARE

    • 24 May 20263 of 3 present2 independent · 59 days in between
    • 25 Mar 20263 of 3 present2 independent · 52 days in between
    • 31 Jan 20263 of 3 present2 independent
  • Nomination and remuneration committee

    Chair DILIP BINDUMADHAV HUDDAR

    MILIND PRALHAD KAMBLE, ASHOK VISHNU TAGARE

    • 14 Jun 20263 of 3 present2 independent · 133 days in between
    • 31 Jan 20263 of 3 present2 independent
  • Stakeholders Relationship Committee

    Chair ASHOK VISHNU TAGARE

    MILIND PRALHAD KAMBLE, DILIP BINDUMADHAV HUDDAR

    No meeting listed in the filing.

  • Risk Management Committee

    Chair SUPRIYA SHRIKANT BADVE

    DILIP BINDUMADHAV HUDDAR, MILIND PRALHAD KAMBLE

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair SUPRIYA SHRIKANT BADVE

    ASHOK VISHNU TAGARE, MILIND PRALHAD KAMBLE

    • 24 May 20263 of 3 present1 independent · 113 days in between
    • 30 Jan 20263 of 3 present1 independent
  • Banking and Finance Committee

    Chair ASHOK VISHNU TAGARE

    SHRIKANT SHANKAR BADVE, SUPRIYA SHRIKANT BADVE

    • 8 Jun 20263 of 3 present0 independent · 62 days in between
    • 6 Apr 20263 of 3 present0 independent · 3 days in between
    • 2 Apr 20263 of 3 present0 independent · 8 days in between
    • 24 Mar 20263 of 3 present0 independent
  • Committee of Independent Directors

    Chair GIRISH KUMAR AHUJA

    DILIP BINDUMADHAV HUDDAR, MILIND PRALHAD KAMBLE, SANGEETA SINGH

    No meeting listed in the filing.

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Jun 2026.

  • GSA & ASSOCIATES LLPPeer-review certificate valid to Feb 2027

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Belrise Industries AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Belrise Industries dividend history

Annual general meeting, 30 Sep 2026

2,36,934 shareholders on the register on 23 Sep 2026; present: 7 promoters and 34 others; votes counted by Makarand Lele / Makarand Lele & Co..The company's voting result (opens in a new tab)

  1. a) Adoption of the Audited Standalone Financial Statements as at March 31, 2026. b) Adoption of the Audited Consolidated Financial Statements as at March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.00%

    Turnout: all 83.58% · promoters 100.00% · institutions 88.80% · other public 0.02%

  2. Mrs. Supriya Badve (DIN: 00366164), who retires by rotation, and being eligible offers herself for re-appointment.
    Ordinary
    99.34% for0.66% against

    Against: promoters 0.00% · institutions 2.46% · other public 3.10%

    Turnout: all 83.58% · promoters 100.00% · institutions 88.80% · other public 0.02%

  3. Declaration of dividend
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.28%

    Turnout: all 83.58% · promoters 100.00% · institutions 88.80% · other public 0.02%

  4. Appointment of M/s. Shailesh Haribhakti & Associates – Chartered Accountants and M/s. Rathi Rathi & Co. - Chartered Accountants as Joint Statutory Auditor of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.00%

    Turnout: all 83.58% · promoters 100.00% · institutions 88.80% · other public 0.02%

  5. Ratification of the remuneration to the Cost Auditor for financial year 2026-27
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 24.17%

    Turnout: all 83.58% · promoters 100.00% · institutions 88.80% · other public 0.02%

  6. Increase in authorised share capital of the Company and consequent alteration of capital clause of Memorandum of Association of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.28%

    Turnout: all 83.58% · promoters 100.00% · institutions 88.80% · other public 0.02%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 30 Jun 2026, 1 resolution

2,06,902 shareholders on the register on 22 May 2026; votes counted by CS Makarand Lele / Makarand Lele & Co..The company's voting result (opens in a new tab)

  1. To approve raising of funds for an amount aggregating up to INR 20,000 million by way of issuance of equity shares or any other equity-linked instrument as permissible under applicable laws by way of a qualified institutions placement ("QIP") in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018MoreLess
    Special
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.93% · other public 0.12%

    Turnout: all 84.09% · promoters 100.00% · institutions 85.08% · other public 9.14%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 23 Sep 2025, 9 resolutions

2,12,272 shareholders on the register on 17 Sep 2025; present: 9 promoters and 26 others; votes counted by NIKHAT SHAIKH / NIKHAT SHAIKH AND ASSOCIATES.The company's voting result (opens in a new tab)

  1. (A) Adoption of the Audited Standalone Financial Statements as at March 31, 2025. (B) Adoption of the Audited Consolidated Financial Statements as at March 31, 2025
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  2. To appoint a director in place of Mr. Ashok Vishnu Tagare (DIN: 00370768), who retires by rotation, and being eligible offers himself for re-appointment.
    Ordinary
    98.20% for1.80% against

    Against: promoters 0.00% · institutions 14.56% · other public 0.01%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  3. To declare a final dividend of INR 0.55/- (11%) per equity share of face value of Rs. 5/- each for the Financial Year ended on March 31, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  4. To consider and approve appointment of M/s Makarand Lele & Co., Company Secretaries as Secretarial Auditor.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  5. Ratification of the remuneration to the Cost Auditor for FY 2025-26.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  6. To enter into material Related Party Transactions with Promoter Group Company.
    OrdinaryNot passedPromoters have an interest in it
    47.86% for52.14% against

    Against: promoters 0.00% · institutions 63.80% · other public 0.01%

    Turnout: all 13.04% · promoters 0.00% · institutions 94.20% · other public 15.21%

  7. To consider and approve remuneration payable to related party Mr. Sumedh Shrikant Badve, President Strategy holding Place of Profit in the Company.
    OrdinaryPromoters have an interest in it
    61.56% for38.44% against

    Against: promoters 0.00% · institutions 47.04% · other public 0.01%

    Turnout: all 13.04% · promoters 0.00% · institutions 94.20% · other public 15.21%

  8. To consider and approve remuneration payable to related party Mr. Swastid Shrikant Badve, Chief of Staff holding Place of Profit in the Company
    OrdinaryPromoters have an interest in it
    61.56% for38.44% against

    Against: promoters 0.00% · institutions 47.04% · other public 0.01%

    Turnout: all 13.04% · promoters 0.00% · institutions 94.20% · other public 15.21%

  9. To consider and approve re-appointment of Mrs. Supriya Shrikant Badve, Executive Director of the Company
    OrdinaryPromoters have an interest in it
    96.15% for3.85% against

    Against: promoters 0.00% · institutions 4.73% · other public 0.00%

    Turnout: all 12.80% · promoters 0.00% · institutions 92.04% · other public 15.21%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 11 Aug 2025, 9 resolutions

2,12,272 shareholders on the register on 17 Sep 2025; present: 9 promoters and 26 others; votes counted by NIKHAT SHAIKH / NIKHAT SHAIKH AND ASSOCIATES.The company's voting result (opens in a new tab)

  1. (A) Adoption of the Audited Standalone Financial Statements as at March 31, 2025. (B) Adoption of the Audited Consolidated Financial Statements as at March 31, 2025
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  2. To appoint a director in place of Mr. Ashok Vishnu Tagare (DIN: 00370768), who retires by rotation, and being eligible offers himself for re-appointment.
    Ordinary
    98.20% for1.80% against

    Against: promoters 0.00% · institutions 14.56% · other public 0.01%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  3. To declare a final dividend of INR 0.55/- (11%) per equity share of face value of Rs. 5/- each for the Financial Year ended on March 31, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  4. To consider and approve appointment of M/s Makarand Lele & Co., Company Secretaries as Secretarial Auditor.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  5. Ratification of the remuneration to the Cost Auditor for FY 2025-26.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 86.05% · promoters 100.00% · institutions 94.20% · other public 15.21%

  6. To enter into material Related Party Transactions with Promoter Group Company.
    OrdinaryNot passedPromoters have an interest in it
    47.86% for52.14% against

    Against: promoters 0.00% · institutions 63.80% · other public 0.01%

    Turnout: all 13.04% · promoters 0.00% · institutions 94.20% · other public 15.21%

  7. To consider and approve remuneration payable to related party Mr. Sumedh Shrikant Badve, President Strategy holding Place of Profit in the Company.
    OrdinaryPromoters have an interest in it
    61.56% for38.44% against

    Against: promoters 0.00% · institutions 47.04% · other public 0.01%

    Turnout: all 13.04% · promoters 0.00% · institutions 94.20% · other public 15.21%

  8. To consider and approve remuneration payable to related party Mr. Swastid Shrikant Badve, Chief of Staff holding Place of Profit in the Company
    OrdinaryPromoters have an interest in it
    61.56% for38.44% against

    Against: promoters 0.00% · institutions 47.04% · other public 0.01%

    Turnout: all 13.04% · promoters 0.00% · institutions 94.20% · other public 15.21%

  9. To consider and approve re-appointment of Mrs. Supriya Shrikant Badve, Executive Director of the Company
    OrdinaryPromoters have an interest in it
    96.15% for3.85% against

    Against: promoters 0.00% · institutions 4.73% · other public 0.00%

    Turnout: all 12.80% · promoters 0.00% · institutions 92.04% · other public 15.21%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 30 Sep 2026, 8 fund houses so far (houses' deadline to file 15 Oct 2026)

  • a) Adoption of the Audited Standalone Financial Statements as at March 31, 2026. b) Adoption of the Audited Consolidated Financial Statements as at March 31, 2026.
    8 for0 against
  • Mrs. Supriya Badve (DIN: 00366164), who retires by rotation, and being eligible offers herself for re-appointment.
    8 for0 against
  • Declaration of dividend
    8 for0 against
  • Appointment of M/s. Shailesh Haribhakti & Associates – Chartered Accountants and M/s. Rathi Rathi & Co. - Chartered Accountants as Joint Statutory Auditor of the Company
    8 for0 against
  • Ratification of the remuneration to the Cost Auditor for financial year 2026-27
    8 for0 against
  • Increase in authorised share capital of the Company and consequent alteration of capital clause of Memorandum of Association of the Company
    8 for0 against

Mutual fund votes, meeting of 30 Jun 2026, 19 fund houses

  • To approve raising of funds for an amount aggregating up to INR 20,000 million by way of issuance of equity shares or any other equity-linked instrument as permissible under applicable laws by way of a qualified institutions placement ("QIP") in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance and Transparency concern: Excessive dilution; however, the Company has not provided adequate justification for the proposed fund-raising and a rationale for not opting for a Rights Issue as a mode of fund raising.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with Law. Governance and Transparency concern: Excessive dilution; however, the Company has not provided adequate justification for the proposed fund-raising and a rationale for not opting for a Rights Issue as a mode of fund-raising.
    12 for7 against
1 earlier meeting

Mutual fund votes, meeting of 23 Sep 2025, 6 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • (A) Adoption of the Audited Standalone Financial Statements as at March 31, 2025. (B) Adoption of the Audited Consolidated Financial Statements as at March 31, 2025
    6 for0 against
  • To appoint a director in place of Mr. Ashok Vishnu Tagare (DIN: 00370768), who retires by rotation, and being eligible offers himself for re-appointment.
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundNo concern on the merits of the Director. Non-Compliance under SEBI (LODR) Regulations: The director’s re-appointment beyond 75 years of age is being proposed through an ordinary resolution, instead of the special resolution which is required by law. Governance Concern: Director is NRC Member and the Company’s remuneration practice shows gender bias.
    5 for1 against
  • To declare a final dividend of INR 0.55/- (11%) per equity share of face value of Rs. 5/- each for the Financial Year ended on March 31, 2025.
    6 for0 against
  • To consider and approve appointment of M/s Makarand Lele & Co., Company Secretaries as Secretarial Auditor.
    6 for0 against
  • Ratification of the remuneration to the Cost Auditor for FY 2025-26.
    6 for0 against
  • To consider and approve remuneration payable to related party Mr. Sumedh Shrikant Badve, President Strategy holding Place of Profit in the Company.
    Against Edelweiss Mutual Fund, Trust Mutual Fund
    • Edelweiss Mutual Fund, Trust Mutual FundNon-compliance with Companies Act, 2013: Prior approval not sought. Governance and Transparency Concern: Basis of arriving at remuneration not disclosed, hence fairness of proposed remuneration cannot be ascertained.
    4 for2 against
  • To consider and approve remuneration payable to related party Mr. Swastid Shrikant Badve, Chief of Staff holding Place of Profit in the Company
    Against Edelweiss Mutual Fund, Trust Mutual Fund
    • Edelweiss Mutual Fund, Trust Mutual FundNon-compliance with Companies Act, 2013: Prior approval not sought. Governance and Transparency Concern: Basis of arriving at remuneration not disclosed, hence fairness of proposed remuneration cannot be ascertained.
    4 for2 against
  • To consider and approve re-appointment of Mrs. Supriya Shrikant Badve, Executive Director of the Company
    6 for0 against
1 proposal not matched to one resolution
  • To enter into by the Company as may be mutually agreed between the Company and Badve Autocomps Private Limited (BAPL), for a period commencing from the Twenty Ninth Annual General Meeting upto the date of Thirtieth Annual General Meeting of the Company to be held in the year 2026 as may be agreed between the Company and BAPL, for an aggregate value not exceeding INR 14,112.80 million for availing/ rendering of services, Purchase/sale of goods, purchase of fixed assets, Other Operating Revenue/Other Income/Recovery of Expenses, loans and advances subject to such contract(s)/ arrangement(s)/transaction(s) being carried out at arm’s length and in the ordinary course of business of the Company provided that the said contract(s)/ arrangement(s)/ agreement(s) / transaction(s) shall be carried out in the ordinary course of business and at an arm’s length basis.MoreLess
    Against Edelweiss Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund, Trust Mutual Fund
    • Edelweiss Mutual Fund, Trust Mutual FundNon-Compliant with SEBI Circular: No justification on why these transactions are in the interest of the Company. Governance & Transparency Concern: It is unclear how proposed transactions fall within the ordinary course of business - No clarification on why purchase of fixed assets is considered to be in the ordinary course of business; Basis for Arm’s Length pricing not disclosed for transactions proposed.
    • HDFC Mutual FundBadve Autocomps Private Limited (BAPL) manufactures and supplies automotive components including sheet-metal assemblies, exhaust systems, polymer-molded parts, painted assemblies, and precision-engineered products. The proposed transactions pertain to availing/ rendering of services, purchase/sale of goods, purchase of fixed assets, other operating revenue/other income/recovery of expenses, loans and advances subject to such contracts entered into with BAPL. We raise concerns on transactions being all encompassing, including extending loans. There is a lack of clarity on the details of individual transactions and in the case of financial support, terms of interest, tenure, etc. have to be disclosed. We do not support the resolution.
    • Nippon India Mutual FundTransparency Concern: It is unclear how proposed transactions fall within the ordinary course of business - No clarification on why purchase of fixed assets is considered to be in the ordinary course of business; Basis for Arm’s Length pricing not disclosed for transactions proposed.
    2 for4 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 4 complaints open, quarter to Jun 2025.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
No
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Jun 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.

RaisedAmount raisedForSet asideSpentSpent elsewhereSpent elsewhere, amount
Public IssuesMay 2025, checked by Crisil Ratings Limited2,150.00Repayment/prepayment of indebtedness availed by the Company1,618.131,596.02No22.11
Public IssuesMay 2025, checked by Crisil Ratings Limited2,150.00General corporate purposes410.49432.59No22.11
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.