Belrise Industries Q2 profit rises 25%.....

Belrise Industries Limited (NSE: BELRISE) reported Q2 FY27 consolidated revenue of ₹2,746.38 crore, up 16.7% year-on-year. Adjusted profit after tax increased 25% to ₹166.25 crore. Manufacturing revenue grew 26% to ₹2,344.1 crore. However, consolidated EBITDA grew at a slower 11.6%, while the EBITDA margin declined to 12.0% from 12.6% a year ago. My view: The gap between revenue and EBITDA growth deserves attention. It indicates that sales expansion has not translated into an equivalent rate of operating profit growth. On the positive side, 71% of manufacturing revenue came from powertrain-neutral products, reducing dependence on a single vehicle powertrain category. The company's expansion into electronics and aerospace also creates additional business opportunities, although their contribution will take time to assess. What to watch next: Track EBITDA margins, new customer programme execution and the ramp-up of new facilities from Q1 FY28. Stance: Business growth is encouraging, but margin improvement and execution need monitoring. !B