Belrise founder Shrikant Badve enters billionaires’ club as shares rally 83% in four months

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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