Bharat Road Network
BRNL NSE
Bharat Road Network
ConstructionNSE: BRNL BSE: 540700 Civil Construction
Key Fundamentals
MicrocapCivil ConstructionConstructionMarket Cap
₹138 Cr
Volatility
Low Risk
P/E Ratio
-0.9
EBITDA
₹-24.39 Cr
Return on Equity
32.25%
Debt to Equity
1.08
Book Value
₹47.96
52W High
₹26.5
52W Low
₹16.5
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Stock is trading at 0.35 times its book value
Weaknesses
5- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -5.93% over past five years.
- Company has a low return on equity of -0.38% over last 3 years.
- Contingent liabilities of Rs.2,330 Cr.
- Company might be capitalizing the interest cost
Growth Rate
Revenue Growth
-67.85% lower than
3Y
Net Income Growth
-144% lower than
3Y
Cash Flow Change
-73% lower than
3Y
ROE
-182% lower than
3Y
ROCE
445%
EBITDA Margin (Avg.)
-124% higher than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 99 | 91 | 97 | 93 | 103 | 76 | 232 | 47 | 46 | 17 | 42 | 49 | 47 |
| Expenses | 47 | 98 | 49 | 49 | 53 | 68 | 54 | 42 | 18 | 64 | 8 | 88 | 121 |
| Operating Profit | 52 | -7 | 49 | 44 | 50 | 8 | 177 | 5 | 28 | -47 | 34 | -40 | -73 |
| OPM % | 53% | -7% | 50% | 47% | 48% | 11% | 76% | 11% | 61% | -276% | 82% | -81% | -154% |
| Other Income | 2 | 2 | 2 | 5 | 5 | 5 | 7 | 6 | 5 | 67 | 8 | -48 | 6 |
| Interest | 47 | 48 | 47 | 46 | 46 | 5 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 16 | 16 | 16 | 34 | 21 | 18 | 18 | 18 | 19 | 7 | 17 | 22 | 20 |
| PBT | -9 | -68 | -12 | -31 | -13 | -10 | 165 | -8 | 14 | 12 | 25 | -110 | -87 |
| Tax % | -22% | -3% | -16% | -6% | -16% | 2% | 0% | -10% | 3% | 1% | -1% | 0% | 0% |
| Net Profit | -7 | -66 | -10 | -30 | -11 | -10 | 164 | -7 | 13 | 12 | 25 | -110 | -87 |
| EPS in Rs | -1.4 | -6.64 | -1.87 | -3.42 | -1.85 | -0.85 | 20.2 | -0.57 | 1.22 | 0.57 | 2.19 | -7.51 | -11.24 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 8 | 1 | 142 | 153 | 401 | 299 | 210 | 216 | 326 | 380 | 274 | 154 | 155 |
| Expenses | 9 | 4 | 173 | 172 | 248 | 116 | 163 | 266 | 322 | 242 | 218 | 179 | 281 |
| Operating Profit | -1 | -3 | -32 | -18 | 153 | 184 | 46 | -50 | 4 | 138 | 57 | -24 | -126 |
| OPM % | -11% | -388% | -22% | -12% | 38% | 61% | 22% | -23% | 1.3% | 36% | 21% | -16% | -81% |
| Other Income | 33 | 4 | 1 | 98 | 48 | 34 | 35 | -133 | 14 | 11 | 206 | 31 | 32 |
| Interest | 41 | 50 | 31 | 44 | 205 | 193 | 167 | 182 | 184 | 188 | 54 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 34 | 36 | 39 | 43 | 57 | 82 | 74 | 66 | 67 |
| PBT | -8 | -50 | -62 | 35 | -37 | -12 | -125 | -408 | -222 | -121 | 134 | -59 | -160 |
| Tax % | 0% | 0% | 1% | 33% | 16% | 9% | -5% | -5% | -8% | -6% | -2% | 1% | — |
| Net Profit | -26 | -93 | -62 | 23 | -44 | -13 | -119 | -389 | -205 | -113 | 136 | -59 | -160 |
| EPS in Rs | -26.42 | -92.54 | -11.4 | 2.78 | -4.56 | -1.9 | -13.61 | -44.83 | -24.96 | -13.34 | 16.81 | -3.53 | -15.99 |
| Div. Payout % | 0% | 0% | 0% | 36% | -11% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 55 | 84 | 84 | 84 | 84 | 84 | 84 | 84 | 84 | 84 |
| Reserves | -4 | -77 | 386 | 979 | 928 | 917 | 802 | 425 | 218 | 106 | 247 | 319 |
| Borrowings | 567 | 885 | 559 | 1,041 | 1,372 | 1,556 | 1,539 | 1,492 | 1,413 | 1,328 | 434 | 434 |
| Other Liabilities | 56 | 18 | 231 | 465 | 581 | 767 | 717 | 845 | 991 | 1,216 | 670 | 599 |
| Total Liabilities | 629 | 837 | 1,231 | 2,569 | 2,965 | 3,324 | 3,143 | 2,846 | 2,706 | 2,734 | 1,435 | 1,436 |
| Fixed Assets | 2 | 2 | 25 | 893 | 869 | 1,689 | 1,661 | 1,629 | 1,536 | 1,453 | 578 | 501 |
| CWIP | 160 | 303 | 420 | 542 | 797 | 100 | 132 | 158 | 242 | 347 | 1 | 0 |
| Investments | 381 | 361 | 449 | 562 | 523 | 486 | 426 | 206 | 119 | 120 | 116 | 93 |
| Other Assets | 86 | 171 | 337 | 573 | 776 | 1,048 | 924 | 853 | 810 | 814 | 740 | 842 |
| Total Assets | 629 | 837 | 1,231 | 2,569 | 2,965 | 3,324 | 3,143 | 2,846 | 2,706 | 2,734 | 1,435 | 1,436 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -32 | -35 | -9 | 143 | 296 | 238 | 51 | 22 | 259 | 264 | 71 | -126 |
| Investing | 38 | -215 | -333 | -1,031 | -365 | -157 | 168 | 196 | 81 | -208 | -62 | 328 |
| Financing | -30 | 264 | 353 | 881 | 86 | -86 | -199 | -233 | -250 | -114 | -68 | -80 |
| Net Cash Flow | -24 | 14 | 11 | -7 | 17 | -5 | 20 | -15 | 90 | -57 | -59 | 122 |
| Free Cash Flow | -133 | -178 | -349 | 0 | -25 | 82 | 66 | -6 | 251 | 160 | 19 | -133 |
| CFO/OP | 3,500 | 1,157 | 26 | -801 | 198 | 130 | 114 | -47 | 6,047 | 191 | 128 | 474 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 85 | 1,124 | 12 | 247 | 90 | 144 | 236 | 233 | 66 | 0 | 1 | 3 |
| Cash Conversion Cycle | 85 | 1,124 | 12 | 247 | 90 | 144 | 236 | 233 | 66 | 0 | 1 | 3 |
| Working Capital Days | -1,877 | -754 | -103 | -393 | -93 | 10 | -32 | -235 | -411 | -845 | -467 | -138 |
| ROCE % | 6% | 0% | -3% | 5% | 7% | 7% | 1% | -4% | -2% | 4% | 15% | -6% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Bharat Road Network insights
57 extracted metrics + investor summaries across FY14–FY26.
Documents
1
Board Meeting Outcome for Outcome For Board Meeting Held On 30Th April, 2026
30 Apr - Amitabh Kumar Jha appointed Managing Director from 1 May 2026 for three years, subject to shareholder approval. 30 Apr - Amitabh Kumar Jha appointed Managing Director from 1 May 2026 for three years, subject to shareholder approval.
2
Board Meeting Outcome for Outcome For Board Meeting Held On 30Th April, 2026
30 Apr - Amitabh Kumar Jha appointed Managing Director from 1 May 2026 for three years, subject to shareholder approval. 30 Apr - Amitabh Kumar Jha appointed Managing Director from 1 May 2026 for three years, subject to shareholder approval.
3
Announcement under Regulation 30 (LODR)-Demise
18 Apr - Chairman and Independent Director Prof. Santanu Ray died on 18 April 2026, ceasing committee roles immediately. 18 Apr - Chairman and Independent Director Prof. Santanu Ray died on 18 April 2026, ceasing committee roles immediately.
4
Closure of Trading Window
1 Apr - Trading window closed from 1 April 2026 until 48 hours after annual audited FY2025-26 results announcement. 1 Apr - Trading window closed from 1 April 2026 until 48 hours after annual audited FY2025-26 results announcement.
5
Announcement under Regulation 30 (LODR)-Newspaper Publication
28 Feb - Newspaper advertisement pertaining to the Audited Results of the Company for the financial year ended December 31, 2025 28 Feb - Newspaper advertisement pertaining to the Audited Results of the Company for the financial year ended December 31, 2025
Frequently Asked Questions about Bharat Road Network
What does Bharat Road Network Ltd do?
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]
Where is Bharat Road Network Ltd (BRNL) listed?
Bharat Road Network Ltd trades as BRNL on the NSE and under code 540700 on the BSE.
Which sector does Bharat Road Network Ltd belong to?
Bharat Road Network Ltd is classified under the Construction sector, in the Civil Construction industry.
What is the market capitalisation of Bharat Road Network Ltd?
Bharat Road Network Ltd has a market capitalisation of ₹138.18 Cr, which places it in the Small Cap band.
What is the PE ratio of Bharat Road Network Ltd?
Bharat Road Network Ltd trades at a PE ratio of -0.90, against a book value of ₹47.96 per share.
What is the 52-week high and low of Bharat Road Network Ltd?
Over the last 52 weeks Bharat Road Network Ltd has traded between ₹16.5 and ₹26.5.
What is the Return on Equity (ROE) of Bharat Road Network Ltd?
Bharat Road Network Ltd reported a return on equity of 32.25%. Its debt-to-equity ratio is 1.08.
Company Information
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]
Website brnl.in
CEO Ms. Manisha Chandalia
Employees 36
Listed 2017-09-18
Face Value ₹ 10
Issued Size 8,39,50,000
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