MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-KR-03-0118515
Bel-Thales Systems Limited - aerospace, maritime and defense in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹122.52 Cr
▲ 22% YoY
Net profit · FY 2025
₹4.76 Cr
Net margin 3.9%
EBITDA · FY 2025
₹8.09 Cr
EBITDA margin 6.6%
Authorised capital
₹80 Cr
Registered with MCA
Paid-up capital
₹57.62 Cr
Issued & subscribed
Company age
12 yrs
Est. 2014
Employees · EPFO
9
Provident fund records
Directors on board
7
As per MCA filings
About Bel-Thales Systems Limited
Data last updated:
Bel-Thales Systems Limited is a public limited union government company based in Bangalore, Karnataka, India, a subsidiary of Bharat Electronics Limited. It operates in the defence accessories and components segment of the aerospace, maritime and defence sector. It was incorporated on 28 August 2014 and has been in existence for over 12 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U32106KA2014GOI076102. Its GSTIN is 29AAGCB0294G1ZN (Karnataka). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹80 Cr and a paid-up capital of ₹57.62 Cr. It is led by directors including Ankur Deepak Kanaglekar and Venkata Suresh Kumar Kaipa.
Its last annual general meeting (AGM) was held on 20 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Cnp Area Bel Industrial Estate Jalahalli, Bangalore, Karnataka, India – 560013.
As per the financials filed for FY 2025, the company reported a revenue of ₹122.52 Cr, a growth of 22% compared to the previous year. For the same year it recorded a net profit of ₹4.76 Cr (net margin 3.9%) and EBITDA of ₹8.09 Cr (EBITDA margin 6.6%). Revenue has grown at a compounded annual rate (CAGR) of 44% over three years and 23% over five years.
The company has about 9 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: BEL-THALES Systems Limited. Court records list 1 case involving the company, including 1 filed against it. The company has 1 deal on record (1 rights issue); the latest was in October 2015.
Bel-Thales Systems Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0118515). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website btsl-india.co.in.
Company details
CIN U32106KA2014GOI076102
Registration Number 076102
Incorporation Date 28 August 2014
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 20 August 2025
Date of Balance Sheet 31 March 2025
Parent Company Bharat Electronics Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-KR-03-0118515
Key People
Ankur Deepak Kanaglekar Additional Director Venkata Suresh Kumar Kaipa Nominee Director Bhanu Prakash Srivastava Nominee Director Recognitions & Rankings of Bel-Thales Systems
Contact details
Bel-Thales Systems Limited's registered office is in Bangalore, Karnataka. Its website is btsl-india.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressCnp Area Bel Industrial Estate Jalahalli, Bangalore, Karnataka, India – 560013
- IndustryAerospace, Maritime and Defense, Defence Accessories & Components
To see the full contact details of Bel-Thales Systems Limited, buy the company report.
Comprehensive company report
Bel-Thales Systems Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Bel-Thales Systems operates one associated brand: BEL-THALES Systems Limited. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Design and development of defense radars and related services are conducted by BEL-THALES Systems Limited. | btsl-india.co.in |
Business activity
The main business activities of Bel-Thales Systems are manufacturing and support service to organizations. In detail, this covers computer, electronic, communication and scientific measuring & control equipment and other support services to organizations. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C9 | Computer, electronic, Communication and scientific measuring & control equipment | |
| N | Support service to Organizations | N7 | Other support services to organizations |
To see the full business activity and turnover split of Bel-Thales Systems Limited, buy the company report.
Financials of Bel-Thales Systems Limited
FY 2025 filings availableBel-Thales Systems Limited reported revenue of ₹122.52 Cr (up 22% YoY) for FY 2025.
Revenue · FY 2025
₹122.52 Cr ▲ 22%
Net profit · FY 2025
₹4.76 Cr margin 3.9%
EBITDA · FY 2025
₹8.09 Cr margin 6.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 22%
3 years · compounded
▲ 44%
5 years · compounded
▲ 23%
EBITDA CAGR growth
1 year
▲ 50%
3 years · compounded
▲ 5%
5 years · compounded
▲ 6%
Revenue has grown at a compounded annual rate (CAGR) of 23% over five years, including 22% growth in the latest year. EBITDA rose 50% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹8.09 Cr | ||||
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| Net Profit (PAT) | ₹4.76 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | 6.6% | ||||
| Net Profit Margin | 3.9% | ||||
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To see the full financial statements and ratios of Bel-Thales Systems Limited, buy the company report.
Board of directors of Bel-Thales Systems Limited
Bel-Thales Systems has 7 current directors and 25 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ankur Deepak Kanaglekar | Additional Director | 17 Nov 2025 | 0 Years 11 Months | Current |
| Venkata Suresh Kumar Kaipa | Nominee Director | 04 Aug 2023 | 3 Years 2 Months | Current |
| Bhanu Prakash Srivastava Also directs: Bel Optronic Devices Limited | Nominee Director | 25 Jul 2024 | 2 Years 3 Months | Current |
| Gilles Antoine Gaston Bono | Additional Director | 20 Dec 2024 | 1 Years 10 Months | Current |
| Damodar Bhattad Also directs: Bel Optronic Devices Limited, Bharat Electronics Limited | Nominee Director | 13 Feb 2023 | 3 Years 8 Months | Current |
| Harikumar Raghavan Nair Also directs: Bharat Electronics Limited | Nominee Director | 01 Jun 2025 | 1 Years 4 Months | Current |
Showing 6 of 7 current directors. View all directors
Auditor
Bel-Thales Systems Limited is audited by S.R. & M.R. associates for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.R. & M.R. associates | FY 2024 | 008094S |
Shareholding
The shareholding of Bel-Thales Systems Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Bel-Thales Systems Limited, buy the company report.
Deals & funding
Bel-Thales Systems Limited has 1 deal on record (1 rights issue); the latest was in October 2015.
Total deals
1
Rights issue
1
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2015 | Rights issue | ₹48.02 Cr | Investors: Bharat Electronics Limited , Thales India Private Limited , an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Bel-Thales Systems Limited has 1 court case on record: 1 filed against it. All case is disposed.
Total cases
1
Filed against the company
1
Disposed
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| Supreme Court | 1 | 1 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (0812-Letter Petition & Pil Matters : Others) | Filed against the company by an individual | Disposed |
To see the full case history of Bel-Thales Systems Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Bel-Thales Systems Limited was last rated by Icra on 29 Jul 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 29 Jul 2020 |
To see the full credit ratings and regulatory alerts of Bel-Thales Systems Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Bel-Thales Systems Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Bel-Thales Systems Limited has a workforce of 9 employees on its EPFO records as of Oct 14, 2024, across 1 active EPFO establishment.
Employee count
9
Active EPFO establishments
1
Employee growth
28.57%
GST
Bel-Thales Systems has 2 GST registrations: 1 active and 1 cancelled or inactive.
Total GSTINs
2
Active
1
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAGCB0294G1ZN | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Bel-Thales Systems Limited, buy the company report.
Recent activity
Bel-Thales Systems Limited has 26 board changes on record since 2014: 7 appointments and 19 cessations. The latest: Anoop Kumar Rai was appointed as Additional Director on 13 Aug 2026.
Appointed
Anoop Kumar Rai was appointed as Additional Director.
Appointed
Ankur Deepak Kanaglekar was appointed as Additional Director.
AGM
Bel-Thales Systems Limited last Annual general meeting of members was held on 20 Aug 2025 as per latest MCA records.
Appointed
Harikumar Raghavan Nair was appointed as Nominee Director.
Filing
Bel-Thales Systems Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Ceased
Nikhil Kumar Jain ceased to be CEO.
Appointed
Gilles Antoine Gaston Bono was appointed as Additional Director.
Appointed
Bhanu Prakash Srivastava was appointed as Nominee Director.
Ceased
Manoj Jain ceased to be Additional Director.
Appointed
Venkata Suresh Kumar Kaipa was appointed as Nominee Director.
Appointed
Damodar Bhattad was appointed as Nominee Director.
Ceased
Joydeep Majumder ceased to be Additional Director.
17 earlier events are in the company report.
Frequently asked questions
Bel-Thales Systems is an active public limited union government company based in Bangalore, Karnataka, India. The company works in defence accessories and components, within the aerospace, maritime and defense industry. It was incorporated on 28 August 2014 (12+ years old) and is registered under CIN U32106KA2014GOI076102.
Bel-Thales Systems has 7 current directors:
- Ankur Deepak Kanaglekar - Additional Director
- Venkata Suresh Kumar Kaipa - Nominee Director
- Bhanu Prakash Srivastava - Nominee Director
- Gilles Antoine Gaston Bono - Additional Director
- Damodar Bhattad - Nominee Director
- Harikumar Raghavan Nair - Nominee Director
- Anoop Kumar Rai - Additional Director
The latest financial statements of Bel-Thales Systems on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 20 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Bel-Thales Systems is 29AAGCB0294G1ZN, registered in Karnataka. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Bel-Thales Systems is U32106KA2014GOI076102. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Bel-Thales Systems has 1 court case on record: 1 filed against it.
Bel-Thales Systems was incorporated on 28 August 2014, making it 12+ years old. It is registered with the Registrar of Companies, Bangalore.
Bel-Thales Systems has 1 deal on record (1 rights issue); the latest was in October 2015.
Anoop Kumar Rai was appointed as Additional Director on 13 Aug 2026. Ankur Deepak Kanaglekar was appointed as Additional Director on 17 Nov 2025. Harikumar Raghavan Nair was appointed as Nominee Director on 01 Jun 2025. Bel-Thales Systems has 26 board changes on record in total.
Yes, Bel-Thales Systems is registered as a medium enterprise under Udyam registration (number: UDYAM-KR-03-0118515).