Brigade Enterprises Ltd

Brigade Enterprises Ltd

₹ 1,255 -1.20%
22 Jul - close price
About

Brigade Enterprises Ltd was established in 1986. It is a real estate developer in South India, based in Bengaluru, and expanding its area of operations in other parts of India. It has completed over 250 buildings aggregating to over 70 mn. sqft of developed space in residential, offices, retail, and hospitality sectors across Bengaluru and Mysuru, Chennai, Ahmedabad, Hyderabad, Kochi [1] [2] [3]

Key Points

Business Segments FY22 [1]

  • Market Cap 28,999 Cr.
  • Current Price 1,255
  • High / Low 1,453 / 551
  • Stock P/E 90.5
  • Book Value 183
  • Dividend Yield 0.16 %
  • ROCE 10.2 %
  • ROE 7.86 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 6.87 times its book value
  • The company has delivered a poor sales growth of 2.40% over past five years.
  • Company has a low return on equity of 8.81% over last 3 years.
  • Earnings include an other income of Rs.194 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
613 240 565 680 676 624 585 514 485 316 439 413 856
449 177 436 495 536 487 456 407 395 257 348 326 641
Operating Profit 164 63 129 185 141 138 129 107 91 59 91 87 215
OPM % 27% 26% 23% 27% 21% 22% 22% 21% 19% 19% 21% 21% 25%
18 27 40 34 42 67 46 44 95 43 57 38 62
Interest 45 39 36 34 34 32 33 35 34 32 32 38 41
Depreciation 23 20 22 22 20 19 19 20 21 18 19 22 20
Profit before tax 114 31 110 163 129 154 123 95 130 53 97 64 216
Tax % 14% 27% 25% 26% 35% 26% 26% 27% 16% 27% 26% 26% 26%
99 23 82 120 84 114 91 70 109 39 72 47 160
EPS in Rs 4.68 0.99 3.57 5.22 3.64 4.97 3.96 3.03 4.74 1.67 3.12 2.04 6.94
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
776 899 988 1,563 1,484 1,249 1,798 1,837 1,524 2,161 2,209 2,024
573 614 693 1,192 1,081 848 1,316 1,347 1,118 1,640 1,740 1,567
Operating Profit 203 285 295 371 402 401 482 491 406 520 469 458
OPM % 26% 32% 30% 24% 27% 32% 27% 27% 27% 24% 21% 23%
12 17 20 90 86 103 123 130 56 140 247 194
Interest 83 102 115 150 180 183 178 200 198 143 134 144
Depreciation 72 77 92 98 76 69 68 76 87 84 80 78
Profit before tax 60 123 109 212 233 252 359 344 178 433 502 429
Tax % -7% 27% 36% 31% 30% 28% 35% 24% 19% 29% 23% 26%
64 90 70 147 164 181 234 261 145 309 385 318
EPS in Rs 3.82 5.33 4.14 8.68 9.62 8.84 11.46 12.76 6.85 13.41 16.69 13.77
Dividend Payout % 26% 25% 32% 15% 17% 15% 12% 8% 18% 11% 12% 15%
Compounded Sales Growth
10 Years: 8%
5 Years: 2%
3 Years: 10%
TTM: -8%
Compounded Profit Growth
10 Years: 14%
5 Years: 7%
3 Years: 20%
TTM: -8%
Stock Price CAGR
10 Years: 31%
5 Years: 46%
3 Years: 59%
1 Year: 118%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 9%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 112 112 113 113 114 136 136 204 211 230 231 231
Reserves 1,096 1,160 1,204 1,414 1,581 2,192 2,171 2,310 2,566 3,334 3,698 3,989
995 843 1,241 1,716 1,648 1,959 1,907 2,035 1,876 1,631 1,425 1,746
550 838 1,005 1,587 1,379 1,469 3,246 3,116 3,456 3,599 3,788 4,582
Total Liabilities 2,752 2,953 3,563 4,829 4,721 5,756 7,460 7,666 8,109 8,795 9,142 10,548
993 1,162 1,087 224 975 1,015 1,280 1,405 1,385 1,410 1,365 1,340
CWIP 356 188 377 435 250 432 179 75 4 3 16 670
Investments 92 133 192 1,631 827 1,353 1,498 1,793 2,051 2,595 2,347 2,544
1,311 1,470 1,906 2,540 2,669 2,957 4,503 4,393 4,669 4,786 5,413 5,994
Total Assets 2,752 2,953 3,563 4,829 4,721 5,756 7,460 7,666 8,109 8,795 9,142 10,548

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
125 449 -16 213 414 69 230 292 419 534 283 -113
-114 -159 -240 -473 -342 -638 103 -194 -151 -583 72 -103
-15 -288 251 273 -92 557 -261 -58 -282 123 -360 151
Net Cash Flow -4 2 -5 13 -19 -12 72 40 -14 74 -5 -66

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 7 14 6 11 14 43 73 56 78 47 42 41
Inventory Days 1,311 3,942 1,946 2,203 5,741 2,269 2,098
Days Payable 170 1,005 397 518 1,569 284 212
Cash Conversion Cycle 1,148 2,950 6 1,560 1,698 4,216 2,058 1,943 78 47 42 41
Working Capital Days 146 -150 -162 -52 -25 75 84 23 46 54 69 5
ROCE % 7% 10% 10% 12% 13% 11% 12% 13% 9% 11% 11% 10%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
43.96% 43.91% 43.88% 43.85% 43.82% 43.80% 43.79% 43.78% 43.77% 43.75% 43.73% 43.72%
13.08% 13.93% 13.64% 13.31% 13.44% 14.24% 14.31% 13.67% 13.40% 13.73% 14.86% 16.17%
24.97% 23.86% 23.86% 24.69% 25.28% 24.55% 24.62% 25.45% 25.41% 25.01% 23.84% 22.86%
17.99% 18.30% 18.62% 18.15% 17.46% 17.39% 17.27% 17.09% 17.44% 17.50% 17.58% 17.26%
No. of Shareholders 51,29357,41763,19763,53164,88664,27062,61160,92063,53568,71276,97786,130

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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