BELRISE

Belrise Industries : Co to Merge BAPL & EITSPL; EPS Accretive, Synergies Ahead • 🏍️ Strong Market Position: BAPL among top Indian 2W plastic component players with ~14% market share, strengthening Belrise’s core auto portfolio. • 🤝 Customer & OEM Synergies: Long-standing relationships with large 2W & 3W OEMs and leading consumer durable OEMs improve wallet share and stickiness. • 📊 EPS Accretive Deal: Merger executed close to book value, implying ~8.3x P/E vs ~30.9x P/E for the listed entity → immediate EPS accretion. • 🏭 Operational Efficiency Gains: Higher verticalisation and Tier-0.5 system assemblies to improve manufacturing and supply-chain efficiencies. • 🔄 Cleaner Group Structure: Simplified structure to materially reduce related-party transactions (~₹11,511 Cr). • 📈 Scale & Profitability Boost: Combined revenues and EBITDA margins enhance scale benefits and operating leverage. 🟢 Impact: Positive EPS accretive merger with strong strategic fit, cost synergies, cleaner structure, and improved growth visibility for the listed entity.