SMC Global Securities Limited

🧾IndusInd Bank Q4 Results Are In! 🔻 Net Loss of ₹2,329 Cr 📉 Net Interest Income down 43% YoY to ₹3,048 Cr ⚠️ Asset Quality Weakens: Gross NPA climbs to 3.13% #IndusIndBankQ4Results #Q4Results #EarningsGrowth #Q4FY25 #BankingSector #FY25Results #StockMarket #EarningsSeason https://t.co/g6nD7qlSVm #IndusIndBankQ4Results #Q4Results #EarningsGrowth #Q4FY25 #BankingSector #FY25Results #StockMarket #EarningsSeason

2️⃣Industry Tailwinds 🔷 Belrise leads in precision sheet metal for 2-wheelers 🔷 EV-adaptive products give it future potential 🔷 Strong OEM relationships and vertically integrated manufacturing 🔷 Global 2-wheeler metal components market expected to grow at 3.29% CAGR till

With a strong OEM network and steady growth, this IPO is worth considering for long-term investors. Always DYOR before investing. Like threads like this? Follow us for more IPO deep-dives, investing tips, and company breakdowns. And if this helped Retweet & share to help more

6️⃣ Where does the Money go? 👉₹1,618 Cr will go toward loan repayment 👉Remaining for general corporate purposes 👉This should improve their debt profile and balance sheet health

4️⃣ Peer Check 🔷Compared to peers like Bharat Forge, Uno Minda, Motherson, JBM Auto: 🔹Belrise’s EBITDA margin: 12.54% — competitive 🔹PAT margin: 4.15% — slightly low 🔹Return on Average Equity (RoAE): 14.18% — decent 🔹Return on Average Capital Employed (RoACE): 14.83% —

7️⃣ Red Flags to Note 📌60%+ revenue comes from just 10 clients 📌7 plants in Maharashtra — geographic risk 📌High reliance on 2-wheelers market 📌Any subsidy withdrawal (like MIPSP 2013) can hurt margins 📌Pricing pressure from OEMs may reduce profitability

1️⃣What does Belrise do? 🔷 Founded in 1988, Belrise makes auto parts for 2W, 3W, 4W & CVs 🔷 1000+ components including chassis, exhausts, battery boxes, polymers, etc. 🔷 Clients include: Bajaj Auto, Hero MotoCorp, Royal Enfield, Jaguar Land Rover 🔷 Present in UK, Japan,

3️⃣Financial Snapshot (FY24) → FY24 revenue: ₹7,555.67 crores, up 14.1% from FY23 → FY24 PAT: ₹352.70 crores, slightly down from ₹356.70 crores → FY24 EBITDA: ₹938.36 crores, up 4.53% YoY → Cash flow from operations dropped by 26.24% YoY → Total borrowings stood at

5️⃣Belrise IPO Snapshot 🧾 → Opens: May 21, 2025 | Closes: May 23, 2025 → Listing: May 28, 2025 on BSE & NSE → Price Band: ₹85 – ₹90/share → Lot Size: 166 shares | Min. Investment: ₹14,940 → Issue Size: ₹2,150 Cr (100% fresh issue) → At the upper price, the company is