Shrikant Badve, founder and managing director of Belrise Industries, has joined India's billionaire club following the recent spike in the share price of the newly listed auto component maker. Belrise, which made a strong listing on May 28, 2025, has seen its stock surge nearly 83% in just four months.

Badve, a first-generation entrepreneur, officially joined India's billionaire club in September 2025 following a surge in the value of the company's shares.

On Tuesday, Belrise shares climbed as much as 6.9% to a record high of ₹164.60 on the BSE, pushing its market capitalisation past ₹14,300 crore. The stock has risen 82.8% against its initial public offering (IPO) price of ₹90 apiece. The counter touched its record low level of ₹89.20 on June 2, 2025.

At the end of June quarter, Shrikant Badve held a 59.56% stake in Belrise Industries, comprising nearly 53 crore shares. At the current market price, his holding in the company is estimated at around ₹8,724 crore, placing him among India’s rising league of wealthy entrepreneurs.

Badve, a first-generation entrepreneur, founded Belrise Group in 1988 with just three employees. Under his leadership, the company has grown into a leading automotive component manufacturer in India. He is also a member of the Economic Advisory Council to the Government of Maharashtra and serves as a Brand Ambassador for initiatives like Magnetic Maharashtra and Make in India.

What fuelled rally in Belrise shares?

The recent rally has been supported by a credit rating upgrade and a broad-based surge in auto component stocks following GST reforms. Since September 11, Belrise shares have risen 18% after CRISIL Ratings reaffirmed and upgraded the company’s ratings on its bank facilities and non-convertible debentures (NCDs) to ‘CRISIL AA-/Stable/CRISIL A1+’ from ‘CRISIL A/Positive/CRISIL A1’.

This was attributed to Belrise’s market leadership in two- and three-wheeler components, strong relationships with OEMs, expanding product and geographic diversity, efficient working capital management, and a robust financial profile.

The rating also factored in the “significant improvement in financial risk profile”, driven by strong networth of above ₹4,500 crore as on June 30, 2025 as compared to ₹2,710 crore as on March 31, 2025. This was aided by equity funds raised through IPO of around ₹2,150 crore.

The group’s revenue also rose to ₹8,312 crore in FY25 from ₹6,578 crore in FY23, with operating margins holding steady at 12.5–13.5% over the last three years, as per CRISIL report. Liquidity remains comfortable, supported by strong cash accruals against minimal repayment obligations, a cash and bank balance of over ₹500 crore as of June 2025, unutilised bank limits of ₹100–120 crore, and a healthy current ratio of more than 2.3 times, it highlighted.

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