| ₹ crore | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | 47.4 | 46.2 | +2.5% |
| EBITDA | −73.2 | 28.1 | — |
| EBITDA margin | −154.4% | 60.7% | −215.1 pts |
| Profit before tax | −87.3 | 13.8 | — |
| Net profit | −87.3 | 13.4 | — |
| EPS | −₹10.40 | ₹1.59 | — |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 115 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 126 | 126 | 21.4 | 84.1 | 140 | ||
| 132 | 132 | 91.4 | 96.1 | 97.3 | ||
| 434 | 434 | 434 | 1,328 | 1,239 | ||
| 555 | — | — | — | — | ||
| 155 | 154 | 274 | 380 | 326 | ||
| — | −43.7% | −27.8% | +16.4% | — | ||
| −126 | −24.4 | 56.6 | 138 | 12.8 | ||
| −80.8% | −15.8% | 20.6% | 36.3% | 3.9% | ||
| −192 | −90.0 | −17.5 | 55.8 | −44.0 | ||
| −160 | −59.5 | 136 | −113 | −205 | ||
| −103.0% | −38.5% | 49.6% | −29.8% | −62.9% | ||
| −₹15.99 | −₹3.53 | ₹16.81 | −₹13.34 | −₹24.96 | ||
| — | −121.0% | +226.0% | +46.6% | — | ||
| — | −126 | 71.4 | 365 | 259 | ||
| — | −7.2 | −52.2 | −104 | −8.4 | ||
| −133 | −133 | 19.2 | 260 | 251 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 115.1 | |
| - Cash, Equiv & ST Investments | 140.0 | 84.1 | 21.4 | 126.0 | 126.0 | |
| + Minority Interest | 97.3 | 96.1 | 91.4 | 131.8 | 131.8 | |
| + Total Debt | 1,239.4 | 1,328.1 | 434.3 | 434.3 | 434.3 | |
| Enterprise Value | — | — | — | — | 555.2 | |
| Revenue | 326.3 | 379.7 | 274.3 | 154.3 | 155.4 | |
| Growth %, YoY | — | +16.4 | -27.8 | -43.7 | — | |
| EBITDA | 12.8 | 137.7 | 56.6 | -24.4 | -125.6 | |
| Margin % | 3.92 | 36.26 | 20.63 | -15.80 | -80.83 | |
| EBIT | -44.0 | 55.8 | -17.5 | -90.0 | -192.3 | |
| Net Income | -205.2 | -113.2 | 136.1 | -59.5 | -160.1 | |
| Margin % | -62.89 | -29.82 | 49.63 | -38.53 | -102.98 | |
| EPS, Adj (current shares) | -24.96 | -13.34 | 16.81 | -3.53 | -15.99 | |
| Growth %, YoY | — | +46.6 | +226.0 | -121.0 | — | |
| Cash from Operations | 259.4 | 364.5 | 71.4 | -125.7 | — | |
| Capital Expenditures | -8.4 | -104.1 | -52.2 | -7.2 | — | |
| Free Cash Flow | 251.0 | 260.4 | 19.2 | -132.9 | -132.9 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
Bharat Road Network (NSE: BRNL) had a market capitalisation of ₹116 crore at the 29 October 2026 close (₹13.83 a share) and a price-to-book ratio of 0.29. In FY26 its consolidated net loss was ₹29.6 crore on revenue of ₹154 crore; in Q1 FY27 (April–June 2026) it was a loss of ₹94.3 crore. Its debt-to-equity ratio was 0.81 on 31 March 2026. Promoters held 51.73% of the shares on 30 September 2026.
Bharat Road Network's PE ratio is not meaningful at the 29 October 2026 close: its consolidated net profit attributable to shareholders over the last four quarters (Q2 FY26 to Q1 FY27) was a loss of ₹134 crore, and a price-to-earnings ratio needs positive earnings. Its market capitalisation was ₹116 crore at ₹13.83 a share.
Bharat Road Network's price-to-book (PB) ratio is 0.29 at the 29 October 2026 close: a market capitalisation of ₹116 crore divided by shareholders' equity (book value) of ₹403 crore on 31 March 2026. That is a book value of ₹47.96 per share against a share price of ₹13.83.
In FY26, Bharat Road Network's return on equity (ROE) was −8.1% and its return on capital employed (ROCE) was −10.3%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 54.2% and ROCE −1.5%.
Bharat Road Network's market capitalisation was ₹116 crore at the 29 October 2026 close: 8.4 crore shares at ₹13.83 each.
No. Bharat Road Network had borrowings of ₹434 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.81. Its cash and current investments were ₹350 crore, so its net debt was ₹84.2 crore.
Bharat Road Network's basic earnings per share (EPS) were −₹7.08 in FY26. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to −₹19.09.
Bharat Road Network's debt-to-equity ratio was 0.81 on 31 March 2026: borrowings of ₹434 crore against total equity of ₹534 crore. A year earlier, on 31 March 2025, it was 1.03.
Bharat Road Network's net worth — shareholders' equity in its consolidated balance sheet — was ₹403 crore on 31 March 2026, up 21.7% from ₹331 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹116 crore at the 29 October 2026 close.
Promoters held 51.73% of Bharat Road Network on 30 September 2026, unchanged from the previous quarter and down 0.24 percentage points from 51.97% a year earlier, according to the shareholding pattern filed with NSE.
Bharat Road Network's book value per share was ₹47.96 on 31 March 2026: shareholders' equity of ₹403 crore divided by the 8.4 crore shares in issue, up 21.7% from ₹39.40 a year earlier. The share price at the 29 October 2026 close was ₹13.83.
In FY26, Bharat Road Network generated ₹126 crore of cash from operations and spent ₹7.2 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹133 crore. In FY25 it was ₹19.2 crore.
Bharat Road Network's latest results are for Q1 FY27 (April–June 2026), filed on 14 August 2026: consolidated net loss ₹94.3 crore, against a profit of ₹10.2 crore in Q1 FY26; revenue from operations ₹47.4 crore, up 2.5% year on year.
On 30 September 2026, Bharat Road Network's shares were held by promoters 51.73%, foreign portfolio investors (FII/FPI) 0.00%, domestic institutions (DII) 0.17% and retail and other non-institutional investors 48.10%. Over the year, FII holding was unchanged and DII holding was up 0.06 percentage points from 0.11%.
In FY26 (April 2025–March 2026), Bharat Road Network's consolidated net loss was ₹29.6 crore, against a profit of ₹141 crore in FY25, on revenue from operations of ₹154 crore (down 43.7%).
In FY26, Bharat Road Network earned net profit attributable to shareholders of ₹29.6 crore on revenue of ₹154 crore, against ₹6.2 crore on ₹117 crore for Tarmat. Bharat Road Network's operating margin was −58.3% (Tarmat 4.8%) and its return on equity −8.1% (Tarmat 3.5%). At the 29 October 2026 close, Bharat Road Network's market capitalisation was ₹116 crore against ₹130 crore for Tarmat.
Bharat Road Network has not yet announced the date of its Q2 FY27 results (July–September 2026); under SEBI's listing rules (Regulation 33) they are due by 14 November 2026.
On FY26 consolidated figures, against Tarmat, Sadbhav Engineering and Niraj Cement Structurals: Bharat Road Network's operating margin of −58.3% is the lowest of the four (Tarmat 4.8%, Sadbhav Engineering 40.3%, Niraj Cement Structurals 3.1%; peer average 16.1%); its revenue growth over three years of −22.1% a year is the lowest of the four (Tarmat −6.5% a year, Sadbhav Engineering −18.2% a year, Niraj Cement Structurals −3.7% a year; peer average −9.5% a year).
From Bharat Road Network's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.