BRNL

Bharat Road Network Limited

Bharat Road Network Limited (BRNL) financial statements and selected valuation metrics through 30 June 2026.

Industrials›Construction›Construction›Civil Construction

brnl.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹15.64
Market cap
131 Cr
Stock P/E
Loss (TTM EPS ₹-19.09)
P/B
0.33
ROE (FY26)
-5.5%
ROCE (FY26)
-6.1%
Operating margin (FY26)
-58.3%
Debt / equity (FY26)
1.08
OCF / EBITDA (3Y)
182.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

BRNL (Bharat Road Network) is a Kolkata-based holding company for road infrastructure projects, which it holds through subsidiaries and associates.

Company snapshot

73rdBy market cap

Ranked among 90 companies in Civil Construction.

What we see

Positives
  • ✓183% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
2 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales91 Cr97 Cr93 Cr103 Cr76 Cr48 Cr47 Cr46 Cr17 Cr42 Cr49 Cr47 Cr
Operating expenses (approx.)98 Cr49 Cr49 Cr53 Cr68 Cr54 Cr42 Cr18 Cr64 Cr8 Cr88 Cr121 Cr
EBITDA-7 Cr49 Cr44 Cr50 Cr8 Cr-7 Cr5 Cr28 Cr-47 Cr34 Cr-40 Cr-73 Cr
OPM %-7.3%50.1%47.0%48.2%10.9%-14.0%11.1%60.7%-275.8%81.6%-81.0%-154.4%
Other income0.22 Cr2 Cr5 Cr5 Cr5 Cr190 Cr6 Cr5 Cr67 Cr8 Cr-48 Cr6 Cr
Interest48 Cr47 Cr46 Cr46 Cr5 Cr1 Cr1 Cr0.0003 Cr0.0003 Cr0.0003 Cr0.02 Cr0.0004 Cr
Depreciation16 Cr16 Cr34 Cr21 Cr18 Cr18 Cr18 Cr19 Cr7 Cr17 Cr22 Cr20 Cr
Profit before tax-70 Cr-12 Cr-31 Cr-13 Cr-10 Cr165 Cr-8 Cr14 Cr12 Cr25 Cr-110 Cr-87 Cr
Tax %2.7%16.4%5.8%16.1%-2.4%0.3%9.7%3.1%1.0%-1.1%-0.1%0.1%
Net profit-68 Cr-10 Cr-30 Cr-11 Cr-10 Cr164 Cr-7 Cr13 Cr12 Cr25 Cr-110 Cr-87 Cr
EPS (₹)₹-7.87₹-1.23₹-3.53₹-1.30₹-1.21₹19.57₹-0.85₹1.59₹1.44₹3.00₹-13.13₹-10.40

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales142 Cr153 Cr401 Cr299 Cr210 Cr216 Cr326 Cr380 Cr274 Cr154 CrSign in free for the trailing twelve months
Operating expenses (approx.)115 Cr109 Cr226 Cr116 Cr163 Cr129 Cr314 Cr242 Cr218 Cr179 CrSign in free for the trailing twelve months
EBITDA27 Cr44 Cr175 Cr184 Cr47 Cr88 Cr13 Cr138 Cr57 Cr-24 CrSign in free for the trailing twelve months
OPM %18.9%28.8%43.7%61.4%22.3%40.5%3.9%36.3%20.6%-15.8%Sign in free for the trailing twelve months
Other income1 Cr98 Cr48 Cr29 Cr35 Cr10 Cr24 Cr11 Cr206 Cr31 CrSign in free for the trailing twelve months
Interest31 Cr44 Cr205 Cr193 Cr167 Cr182 Cr184 Cr188 Cr54 Cr0.02 CrSign in free for the trailing twelve months
Depreciation0.03 Cr0.43 Cr34 Cr36 Cr39 Cr43 Cr57 Cr82 Cr74 Cr66 CrSign in free for the trailing twelve months
Profit before tax-62 Cr35 Cr-37 Cr-12 Cr-125 Cr-408 Cr-222 Cr-121 Cr134 Cr-59 CrSign in free for the trailing twelve months
Tax %-1.0%33.3%-16.1%-9.4%5.0%4.6%7.6%6.5%-1.6%-0.6%Sign in free for the trailing twelve months
Net profit-62 Cr23 Cr-44 Cr-13 Cr-119 Cr-389 Cr-205 Cr-113 Cr136 Cr-59 CrSign in free for the trailing twelve months
EPS (₹)₹-22.37₹3.28₹-5.19₹-1.54₹-14.15₹-46.30₹-24.45₹-13.49₹16.22₹-7.08Sign in free for the trailing twelve months
Dividend payout %————————0.0%—Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital55 Cr84 Cr84 Cr84 Cr84 Cr84 Cr84 Cr84 Cr84 Cr84 Cr
Reserves386 Cr979 Cr928 Cr917 Cr802 Cr425 Cr218 Cr106 Cr247 Cr319 Cr
Borrowings558 Cr1,004 Cr1,360 Cr1,470 Cr1,413 Cr1,492 Cr1,239 Cr1,328 Cr434 Cr434 Cr
Other liabilities200 Cr390 Cr487 Cr743 Cr739 Cr752 Cr1,067 Cr1,120 Cr578 Cr467 Cr
Total liabilities1,231 Cr2,569 Cr2,965 Cr3,324 Cr3,143 Cr2,846 Cr2,706 Cr2,734 Cr1,435 Cr1,436 Cr
Fixed assets (net)0.28 Cr1 Cr1 Cr1 Cr2 Cr2 Cr2 Cr2 Cr0.95 Cr2 Cr
CWIP——797 Cr100 Cr132 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Investments449 Cr562 Cr523 Cr486 Cr426 Cr206 Cr119 Cr120 Cr116 Cr93 Cr
Loans & advances——262 Cr350 Cr146 Cr116 Cr50 Cr50 Cr49 Cr132 Cr
Trade receivables5 Cr104 Cr99 Cr118 Cr135 Cr138 Cr59 Cr0.49 Cr0.94 Cr1 Cr
Cash & bank19 Cr12 Cr29 Cr24 Cr44 Cr29 Cr120 Cr62 Cr4 Cr126 Cr
Other assets758 Cr1,891 Cr1,254 Cr2,244 Cr2,257 Cr2,356 Cr2,357 Cr2,499 Cr1,264 Cr1,082 Cr
Total assets1,231 Cr2,569 Cr2,965 Cr3,324 Cr3,143 Cr2,846 Cr2,706 Cr2,734 Cr1,435 Cr1,436 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-9 Cr143 Cr296 Cr238 Cr51 Cr22 Cr259 Cr365 Cr71 Cr-126 Cr
Cash from investing-333 Cr-1,031 Cr-365 Cr-157 Cr168 Cr196 Cr44 Cr-208 Cr-40 Cr328 Cr
Cash from financing353 Cr881 Cr86 Cr-86 Cr-199 Cr-233 Cr-213 Cr-214 Cr-68 Cr-80 Cr
Net cash flow11 Cr-7 Cr17 Cr-5 Cr20 Cr-15 Cr90 Cr-57 Cr-59 Cr122 Cr
Free cash flow (OCF − Capex)-349 Cr-0.39 Cr-25 Cr82 Cr51 Cr-6 Cr251 Cr260 Cr19 Cr-133 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %-3.0%3.6%6.8%7.0%1.7%-10.8%-2.3%4.2%22.0%-6.1%
ROE %-13.2%2.0%-3.4%-1.4%-11.5%-62.5%-52.4%-39.1%33.4%-5.5%
Debtor days122468914423523266013
Inventory days——00000000
Days payable0812285448
Cash conversion cycle122388914223322461-3-3-5
OCF / EBITDA %-33.8%324.2%168.7%129.4%109.5%25.1%2029.8%264.7%126.2%—
OCF / EBITDA % (3 years)——174.6%167.8%144.1%97.7%226.0%271.3%335.8%182.6%
Debt / equity1.270.941.341.471.592.934.106.991.311.08
Current ratio0.830.970.951.161.220.880.800.490.801.58
Net debt / EBITDA20.18—7.597.8729.2216.7087.609.197.61—