Brainbees Solutions Ltd
Brainbees Solutions Ltd
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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35 extracted metrics + investor summaries across FY18–FY26.
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Technical Indicators
Key Insights
Weaknesses
3- Company has low interest coverage ratio.
- Company has a low return on equity of -4.56% over last 3 years.
- Earnings include an other income of Rs.121 Cr.
Growth Rate
AI Analysis — Bull vs Bear
Brainbees Solutions (FirstCry) shows strong revenue growth at 15% CAGR over 3 years and improving profitability trajectory with 30% TTM profit growth, but remains loss-making with negative ROE of -4.56% over 3 years and trades at a negative PE of -57.3x. The stock has declined 41% in the last year, reflecting market skepticism about the path to sustained profitability.
- Strong 5-year revenue CAGR of 40% demonstrates robust top-line scaling in the baby and kids segment
- TTM sales growth of 12% shows continued momentum even on a larger base
- TTM profit growth of 30% indicates improving operating leverage and narrowing losses
- 3-year compounded profit growth of 21% shows consistent trajectory toward breakeven
- Market cap of Rs.12,157 Cr positions FirstCry as a category leader in the organized baby products market with scale advantages
- 50% of analysts rate the stock a BUY (3 out of 6 analysts), suggesting institutional confidence in long-term story
- ROE improving from -6% (5-year) to -5% (3-year) to -2% (last year) shows clear trend toward profitability
- Stock has declined 41% over the past 1 year, reflecting severe loss of investor confidence
- Negative PE of -57.3x confirms the company is still loss-making with no earnings to value
- 3-year average ROE of -4.56% means shareholders are experiencing capital destruction
- Low interest coverage ratio indicates debt servicing burden on an already unprofitable business
- Earnings include other income of Rs.134 Cr, meaning core operating performance is weaker than headline numbers suggest
- Zero dividend yield with no near-term prospect of payouts given ongoing losses
- 33% of analysts (2 out of 6) rate it a SELL, indicating meaningful skepticism about valuation
- Price-to-book of 2.41x is elevated for a company generating negative returns on equity
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ESOP Trust income tax notice Jul 1
Brainbees ESOP Trust received an Income Tax notice for A.Y. 2022-23 regarding issuance of 1.03 crore shares. The Trust denies escaped income and plans to pursue legal remedies.
- Swara Baby IPO share sale Jul 1
Board approved selling up to Rs 3,000 million worth of shares in subsidiary Swara Baby Products' IPO. Swara Baby will remain a subsidiary post-offer.
- Swara Corp timeline extended Jun 30
Capital subscription timeline for step-down subsidiary Swara Corp extended to Dec 31, 2026 due to procedural delays.
TL;DR: A quiet week for Firstcry with largely administrative corporate actions around its Swara subsidiaries. The tax notice on the ESOP Trust is a minor legal overhang but the company is contesting it. No material operational or growth catalysts emerged. Near-term direction will depend on upcoming quarterly results and execution on subsidiary monetisation via the Swara Baby IPO.
Quarterly Results
| 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 | 1,407 | 1,507 | 1,900 | 1,667 | 1,652 | 1,905 | 2,172 | 1,930 | 1,863 | 2,099 | 2,424 | 2,163 | 2,106 |
| Expenses | 1,423 | 1,512 | 1,842 | 1,634 | 1,603 | 1,848 | 2,064 | 1,914 | 1,829 | 2,037 | 2,327 | 2,093 | 2,047 |
| Operating Profit | -16 | -6 | 59 | 33 | 49 | 57 | 108 | 16 | 33 | 62 | 97 | 70 | 60 |
| OPM % | -1.1% | -0.4% | 3.1% | 2% | 3% | 3% | 5% | 0.8% | 1.8% | 3% | 4% | 3.2% | 2.8% |
| Other Income | 20 | 21 | 35 | 18 | 15 | 30 | 45 | 12 | 42 | 35 | 41 | 17 | 28 |
| Interest | 36 | 39 | 41 | 0 | 38 | 41 | 42 | 38 | 40 | 40 | 39 | 36 | 37 |
| Depreciation | 84 | 89 | 96 | 103 | 95 | 98 | 104 | 108 | 101 | 98 | 104 | 104 | 94 |
| PBT | -115 | -112 | -43 | -52 | -70 | -52 | 7 | -118 | -66 | -41 | -5 | -53 | -43 |
| Tax % | -4% | 7% | 14% | -16% | 8% | 22% | 314% | -5% | 0% | 22% | 605% | -10% | 3% |
| Net Profit | -110 | -119 | -48 | -43 | -76 | -63 | -15 | -112 | -67 | -51 | -39 | -48 | -44 |
| EPS in Rs | — | — | — | — | — | -0.97 | -0.15 | -1.47 | -0.89 | -0.67 | -0.55 | -0.58 | -0.6 |
Profit & Loss
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 337 | 508 | 814 | 1,603 | 2,401 | 5,633 | 6,481 | 7,660 | 8,548 | 8,792 |
| Expenses | 402 | 1,450 | 1,047 | 1,561 | 2,420 | 5,950 | 6,410 | 7,430 | 8,286 | 8,503 |
| Operating Profit | -65 | -942 | -233 | 42 | -18 | -317 | 70 | 230 | 262 | 289 |
| OPM % | -19% | -186% | -29% | 2.6% | -0.8% | -6% | 1.1% | 3% | 3.1% | 3.3% |
| Other Income | 18 | 27 | 83 | 141 | 116 | 153 | 94 | 101 | 134 | 121 |
| Interest | 1 | 0 | 4 | 14 | 38 | 72 | 115 | 158 | 156 | 152 |
| Depreciation | 7 | 18 | 38 | 70 | 111 | 294 | 371 | 405 | 407 | 400 |
| PBT | -55 | -933 | -191 | 98 | -51 | -530 | -322 | -232 | -166 | -143 |
| Tax % | 0% | 0% | 0% | -120% | 54% | -8% | 0% | 14% | 23% | — |
| Net Profit | -55 | -933 | -191 | 216 | -79 | -486 | -322 | -265 | -204 | -181 |
| EPS in Rs | — | — | — | — | — | — | — | -3.67 | -2.69 | -2.4 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 49 | 35 | 35 | 45 | 81 | 81 | 96 | 97 |
| Reserves | -1,094 | 1,472 | 2,347 | 3,366 | 3,447 | 3,368 | 3,082 | 4,645 | 4,730 |
| Borrowings | 1,657 | 7 | 34 | 214 | 446 | 906 | 1,430 | 1,570 | 1,594 |
| Other Liabilities | 96 | 151 | 341 | 459 | 2,147 | 2,602 | 2,727 | 2,359 | 2,608 |
| Total Liabilities | 666 | 1,678 | 2,758 | 4,073 | 6,084 | 6,957 | 7,321 | 8,670 | 9,028 |
| Fixed Assets | 356 | 351 | 383 | 669 | 2,213 | 3,533 | 3,868 | 3,609 | 3,591 |
| CWIP | 0 | 7 | 23 | 18 | 42 | 26 | 1 | 7 | 20 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 | 5 |
| Other Assets | 310 | 1,320 | 2,352 | 3,387 | 3,830 | 3,397 | 3,447 | 5,049 | 5,412 |
| Total Assets | 666 | 1,678 | 2,758 | 4,073 | 6,084 | 6,957 | 7,321 | 8,670 | 9,028 |
Cash Flow
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating | -70 | -210 | -300 | -67 | -132 | -399 | -42 | -83 | 365 |
| Investing | 82 | -758 | -660 | -445 | -491 | 304 | 63 | -1,438 | -108 |
| Financing | -9 | 1,063 | 1,033 | 718 | 644 | -51 | 81 | 1,431 | -282 |
| Net Cash Flow | 3 | 95 | 73 | 206 | 22 | -146 | 102 | -91 | -25 |
| Free Cash Flow | -71 | -231 | -349 | -110 | -353 | -637 | -385 | -292 | 176 |
| CFO/OP | 106 | 22 | 128 | -167 | 583 | 134 | 6 | -22 | 164 |
Ratios
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 38 | 32 | 36 | 31 | 33 | 15 | 12 | 13 | 16 |
| Inventory Days | 117 | 175 | 162 | 182 | 227 | 119 | 143 | 162 | 133 |
| Days Payable | 92 | 112 | 97 | 104 | 123 | 68 | 80 | 71 | 68 |
| Cash Conversion Cycle | 63 | 95 | 101 | 109 | 138 | 65 | 76 | 105 | 81 |
| Working Capital Days | 68 | 120 | 100 | 90 | 79 | 40 | 46 | 36 | 44 |
| ROCE % | — | -89% | -10% | 4% | 0% | -10% | -4% | 0% | 1% |
Documents
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Company Information
Founded in 2010, Brainbees Solutions Limited offers products for mothers, babies, and kids through its online platform 'FirstCry'.[1]