Belrise Industries has entered into a strategic partnership with Israel's Plasan Sasa, signing a three-year agreement to jointly pursue opportunities in the Indian defense market, with a focus on ATEMM (All-Terrain Electric Mission Module) electric military platforms. This collaboration aligns with India's 'Make in India' initiative and aims to bring advanced defense technologies to the country's military sector.

Strategic Partnership Framework

The agreement, signed on December 18, 2025, establishes a comprehensive framework for cooperation between the two companies across multiple dimensions:

The partnership encompasses joint identification, pursuit, and execution of business opportunities, including tenders from the Ministry of Defence (MoD), Public Sector Undertakings (PSUs), paramilitary forces, and other relevant governmental authorities.

ATEMM Platform Introduction

The collaboration centers on the ATEMM (All-Terrain Electric Mission Module), a cutting-edge self-propelled electric platform designed to enhance operational capabilities for modern armed forces. The ATEMM system focuses on improving operational payload, energy efficiency, survivability, and mobility for defense applications.

Key aspects of the ATEMM platform integration include:

• Adaptation of the platform for Indian military applications
• Leveraging Plasan's expertise in survivability and automotive systems
• Utilizing Belrise's strong industrial presence in India
• Ensuring mission-ready solutions tailored to Indian defense sector requirements

Technical Collaboration and Capability Building

The agreement establishes a framework for joint technical development, processes, and capability building initiatives. The collaboration aims to enable Belrise Industries to emerge as a prime source of sub-systems and systems for Plasan's global supply chain.

Strategic Alignment with National Initiatives

The partnership aligns with the Government of India's Make in India and Atmanirbhar Bharat initiatives, ensuring localized production and technology transfer. This collaboration supports India's defense ecosystem development while contributing to cost-effective production for Plasan's worldwide operations.

Mr. Swastid Badve, Chief of Staff at Belrise Industries, emphasized that the partnership represents a significant milestone in bringing world-class defense technologies to India. Mr. Gilad Ariav, VP Marketing Business Development at Plasan, highlighted the shared vision for innovation and excellence between the two companies.

Company Background and Financial Position

Belrise Industries operates as a leading Indian automotive systems manufacturer with a diversified portfolio spanning safety critical systems, chassis components, and advanced engineering solutions. The company maintains 20 manufacturing facilities across India and reported revenues of ₹800.40 crores in March 2025.

Plasan Sasa serves as a global leader in survivability and armor solutions, providing advanced protection systems for military vehicles and personnel worldwide. The company brings decades of experience and innovation to the partnership, with solutions deployed globally in challenging environments.

Belrise Industries Limited has incorporated a step-down wholly-owned subsidiary in France to expand its operations in the defense and aerospace sector. The company announced this development through a regulatory filing dated December 16, 2025, pursuant to Regulation 30 of the SEBI Listing Regulations.

Subsidiary Details and Structure

The newly incorporated entity, Belrise SDM, has been established in France with its registered office at 1 Place de la Gare, 59000 Lille, France. The subsidiary's capital structure and ownership details are outlined below:

Business Scope and Objectives

Belrise SDM will operate in specialized technology sectors aligned with the parent company's core business activities. The subsidiary's business scope encompasses:

• Engineering and mechanical technologies
• Optical, electrical, and electronic technologies
• Software development for specialized applications
• Technologies for defense, space, and aerospace industries
• Related industrial activities supporting these sectors

The company emphasized that the business activities of the proposed subsidiary are aligned with the main line of business of Belrise Industries Limited, ensuring strategic coherence in operations.

Regulatory Compliance and Related Party Status

The step-down wholly-owned subsidiary will be classified as a related party of Belrise Industries starting from its incorporation date. The company has confirmed that promoters, promoter groups, and group companies have no additional interest in the newly formed entity beyond the existing corporate structure.

Strategic Implications

The incorporation of Belrise SDM represents the company's expansion into international markets, specifically targeting the European defense and aerospace sector. As a newly incorporated entity with capital subscribed on December 15, 2025, the subsidiary currently has no operational history or turnover. The establishment follows applicable French laws and regulations for corporate incorporation.

The company has indicated that this submission will be hosted on its website under the Investor Relations section at https://belriseindustries.com , ensuring transparency and accessibility for stakeholders.