Bharat Road Network Ltd

Bharat Road Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Bharat Road Network Ltd

₹ 51.9 4.99%
03 Jul - close price
brnl.in BSE: 540700 NSE: BRNL
About

Incorporated in 2006, Bharat Road Network Ltd is in the business of designing, building, operating, maintaining and carrying out all other activities pertaining to road projects, under the aforesaid SPV model[1]

Key Points

Business Overview:[1]
BRNL is an Indian road BOT company specializing in developing, implementing, operating, and maintaining highways and road projects. It functions as a developer and operator for such projects on a BOT basis in Kerala and Maharashtra, partnering with experienced local EPC players in the respective project locations.

Website BSE NSE - BE
  • Market Cap ₹ 436 Cr.
  • Current Price ₹ 51.9
  • High / Low ₹ 98.5 / 26.0
  • Stock P/E
  • Book Value ₹ 85.8
  • Dividend Yield 0.00 %
  • ROCE 0.45 %
  • ROE -3.02 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.60 times its book value

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -1.53%
  • The company has delivered a poor sales growth of -6.94% over past five years.
  • Company has a low return on equity of -4.05% over last 3 years.
  • Earnings include an other income of Rs.6.51 Cr.
  • Company has high debtors of 198 days.
  • Working capital days have increased from 4,778 days to 9,718 days

* 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: Infrastructure Developers & Operators 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
9.26 31.51 21.68 26.31 11.74 3.91 18.02 2.97 1.84 1.75 1.54 2.61 1.44
35.06 32.81 43.22 14.81 22.96 3.55 13.96 23.14 26.84 3.09 1.88 2.97 1.28
Operating Profit -25.80 -1.30 -21.54 11.50 -11.22 0.36 4.06 -20.17 -25.00 -1.34 -0.34 -0.36 0.16
OPM % -278.62% -4.13% -99.35% 43.71% -95.57% 9.21% 22.53% -679.12% -1,358.70% -76.57% -22.08% -13.79% 11.11%
3.62 3.85 0.20 0.19 -295.30 -24.20 3.96 -6.09 0.80 1.30 1.69 1.63 1.88
Interest 6.28 6.57 6.81 7.01 7.07 7.57 7.57 7.80 7.87 8.19 8.77 8.53 8.95
Depreciation 0.01 0.02 0.02 0.02 0.01 0.03 0.02 0.01 0.01 0.02 0.02 0.01 0.01
Profit before tax -28.47 -4.04 -28.17 4.66 -313.60 -31.44 0.43 -34.07 -32.08 -8.25 -7.44 -7.27 -6.92
Tax % 24.94% 26.49% 25.17% 25.32% 3.81% 10.59% -2.33% 25.18% 15.84% 25.21% 25.13% 27.79% 26.45%
-21.38 -2.96 -21.08 3.49 -301.65 -28.11 0.44 -25.49 -27.01 -6.16 -5.56 -5.25 -5.10
EPS in Rs -2.55 -0.35 -2.51 0.42 -35.93 -3.35 0.05 -3.04 -3.22 -0.73 -0.66 -0.63 -0.61
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
1 11 10 4 14 33 11 7 19 91 27 7
3 10 9 4 5 15 10 12 46 114 67 9
Operating Profit -2 1 1 0 9 18 0 -5 -27 -23 -41 -2
OPM % -312% 12% 11% 7% 63% 55% 4% -81% -142% -25% -152% -26%
2 0 33 4 2 31 64 11 12 -291 -26 7
Interest 17 51 41 50 9 9 44 2 22 27 31 34
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax -17 -50 -6 -47 3 41 20 3 -37 -341 -97 -30
Tax % 0% 0% 0% 0% 20% 29% 30% 31% 17% 6% 17% 26%
-17 -50 -6 -47 2 29 14 2 -31 -322 -80 -22
EPS in Rs -16.63 -50.07 -6.31 -46.68 0.40 3.44 1.70 0.27 -3.68 -38.38 -9.55 -2.63
Dividend Payout % 0% 0% 0% 0% 0% 29% 29% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -4%
5 Years: -7%
3 Years: -27%
TTM: -73%
Compounded Profit Growth
10 Years: 5%
5 Years: %
3 Years: 9%
TTM: 58%
Stock Price CAGR
10 Years: %
5 Years: -9%
3 Years: 16%
1 Year: 69%
Return on Equity
10 Years: %
5 Years: -3%
3 Years: -4%
Last Year: -3%

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 10 10 10 10 55 84 84 84 84 84 84 84
Reserves 8 -68 -74 -121 518 1,086 1,095 1,092 1,061 739 659 637
298 434 377 513 150 133 120 143 325 310 307 264
6 8 6 5 3 85 35 132 34 123 94 125
Total Liabilities 321 385 319 407 726 1,387 1,334 1,451 1,505 1,256 1,144 1,110
0 0 0 0 0 0 0 0 0 0 0 0
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 314 371 309 311 643 1,114 1,240 1,144 1,085 892 761 696
7 14 10 96 83 273 94 306 419 364 382 413
Total Assets 321 385 319 407 726 1,387 1,334 1,451 1,505 1,256 1,144 1,110

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
1 -3 -2 -4 -19 -15 -25 -67 -102 50 -53 33
-296 -62 101 -77 -114 -530 76 51 -57 -9 87 45
299 61 -98 81 148 533 -54 16 161 -42 -34 -78
Net Cash Flow 4 -4 1 -1 16 -12 -4 -0 1 -1 0 0

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 242 156 212 801 301 474 350 598 150 22 48 198
Inventory Days 0
Days Payable
Cash Conversion Cycle 242 156 212 801 301 474 350 598 150 22 48 198
Working Capital Days -1,385 -9 96 2,148 1,655 2,034 2,226 3,356 6,462 1,024 3,591 9,718
ROCE % 0% 0% 10% 1% 2% 5% 5% 0% -1% -1% -4%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
53.76% 53.76% 53.76% 53.76% 53.76% 53.76% 53.76% 53.76% 53.76% 53.76% 53.76% 52.23%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06%
0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
46.23% 46.24% 46.24% 46.24% 46.24% 46.24% 46.24% 46.24% 46.24% 46.24% 46.24% 47.70%
No. of Shareholders 17,59917,17117,76121,90721,45021,18921,84021,82521,86923,59925,67051,896

* 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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Documents

Announcements

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