Bharat Road Network
Construction
BRNL NSE
₹13.86 +0.35 (+2.59%)
- P/E
- Not meaningful: loss-making over the last twelve months
Close 4 Nov 2026 ₹13.86 −10.48 −43.1% 1Y
Start ₹24.34
Key Fundamentals
MicrocapTransport InfrastructureServicesPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- −6.53%
- Debt to Equity
- 1.08
- EPS (TTM)
- −₹15.99
- Book Value
- ₹47.96
- Market Cap
- —
- P/E (TTM)
- Not meaningful: loss-making over the last twelve months
- P/B
- 0.29
- ROE
- −8.15%
- Dividend Yield
- 0.00%
- EBITDA
- ₹6.50 Cr
- 52W High
- ₹26.50
- 52W Low
- ₹13.06
- Day Range
- ₹13.52 – ₹14.55
- Volume
- 23,022
Peer Comparison
Industrials › Construction › Civil Construction
| ₹3,944.40 | 30.37 | ₹5,47,193 Cr | 4.80 | 0.96% | 15.90% | 14.60% | ₹3,00,904 Cr | ₹20,895 Cr | |
| ₹191.23 | 44.37 | ₹39,292 Cr | 4.06 | 0.93% | 9.02% | 10.80% | ₹20,825 Cr | ₹897 Cr | |
| ₹1,310.10 | 37.40 | ₹23,549 Cr | 6.36 | 0.24% | 27.80% | 32.80% | ₹10,205 Cr | ₹602 Cr | |
| ₹1,366.10 | 20.52 | ₹22,726 Cr | 3.00 | 0.83% | 13.70% | 18.30% | ₹27,380 Cr | ₹1,129 Cr | |
| ₹77.74 | 28.37 | ₹20,666 Cr | 6.95 | 0.20% | 20.40% | 29.30% | ₹12,756 Cr | ₹766 Cr | |
| ₹16.79 | 21.25 | ₹19,929 Cr | 0.94 | 0.31% | 4.29% | 7.47% | ₹7,686 Cr | ₹954 Cr | |
| ₹300.85 | 21.55 | ₹16,653 Cr | 5.06 | 0.52% | 23.40% | 30.40% | ₹3,878 Cr | ₹784 Cr | |
| Bharat Road Network (this company) | ₹13.86 | — | ₹117 Cr | 0.29 | 0.00% | −8.15% | −6.53% | ₹155 Cr | −₹160 Cr |
| Median 8 companies | ₹246.04 | 28.37 | ₹21,696 Cr | 4.43 | 0.42% | 14.80% | 16.45% | ₹11,481 Cr | ₹841 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
28 Poor
Data confidence 88/100
Category scores
- Quality
- 8
- Poor
- Returns, margins, earnings quality 22% weight
- Valuation
- 45
- Average
- Cheap vs sector & own history 24% weight
- Growth
- 1
- Poor
- Sales & profit trajectory 9% weight
- Financial Health
- 8
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 13
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 50
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Stock is trading at 0.28 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 -0.41% over last 3 years.
- Contingent liabilities of Rs.3,088 Cr.
- Company might be capitalizing the interest cost
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 13 | 6 | 0 |
| Oscillators | Bearish | 3 | 6 | 0 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Bearish
Bearish
3
Neutral
6
Bullish
0
Overall
Strong Bearish
Bearish
13
Neutral
6
Bullish
0
Moving Averages
Strong Bearish
Bearish
10
Neutral
0
Bullish
0
Key readings
- RSI (14)
- 37.66
- Neutral
- MACD (12,26,9)
- −0.69
- Bearish
- SMA (50)
- 15.90
- Bearish
- SMA (200)
- 18.47
- Bearish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +65.48% |
|---|---|
| 5Y | −6.01% |
| 3Y | −22.12% |
| 1Y | −43.80% |
| TTM | −61.35% |
Net profit
| 10Y | Loss narrowed by ₹34 Cr |
|---|---|
| 5Y | Loss narrowed by ₹60 Cr |
| 3Y | Loss narrowed by ₹146 Cr |
| 1Y | Turned to loss |
| TTM | Turned to loss |
Operating cash flow
| 10Y | Outflow widened by ₹91 Cr |
|---|---|
| 5Y | Turned negative |
| 3Y | Turned negative |
| 1Y | Turned negative |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | +284.42 pp |
|---|---|
| 5Y | −37.48 pp |
| 3Y | −16.81 pp |
| 1Y | −36.38 pp |
| TTM | −135.65 pp |
Revenue by year
| Mar 2017 | ₹142 Cr |
|---|---|
| Mar 2018 | ₹153 Cr |
| Mar 2019 | ₹401 Cr |
| Mar 2020 | ₹299 Cr |
| Mar 2021 | ₹210 Cr |
| Mar 2022 | ₹216 Cr |
| Mar 2023 | ₹326 Cr |
| Mar 2024 | ₹380 Cr |
| Mar 2025 | ₹274 Cr |
| Mar 2026 | ₹154 Cr |
Net profit by year
| Mar 2017 | −₹62.00 Cr |
|---|---|
| Mar 2018 | ₹23.00 Cr |
| Mar 2019 | −₹44.00 Cr |
| Mar 2020 | −₹13.00 Cr |
| Mar 2021 | −₹119 Cr |
| Mar 2022 | −₹389 Cr |
| Mar 2023 | −₹205 Cr |
| Mar 2024 | −₹113 Cr |
| Mar 2025 | ₹136 Cr |
| Mar 2026 | −₹59.00 Cr |
Quarterly Results
₹ Cr| 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 | 0.22 | 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 | −69.89 | −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 | −68.01 | −10 | −30 | −11 | −10 | 164 | −7 | 13 | 12 | 25 | −110 | −87 |
| EPS (₹) | −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
₹ Cr| 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 (₹) | −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% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| 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
₹ Cr| 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/EBITDA | 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% | −7% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Bharat Road Network insights
74 extracted metrics across FY14–FY27.
Documents
- Concall · May 2018Transcript
- Concall · Feb 2018Transcript PPT
- Concall · Nov 2017Transcript
- General announcements 29 Oct 2026
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
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 52-week high and low of Bharat Road Network Ltd?
Over the last 52 weeks Bharat Road Network Ltd has traded between ₹13.06 and ₹26.5 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Bharat Road Network Ltd?
Bharat Road Network Ltd reported a return on equity of -8.15%. 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
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