Bharat Road Network Ltd.

•

brnl.inBSE: 540700NSE: BRNL

Market Cap₹ 140 Cr.

Current Price

High / Low₹ 26 / 16

Stock P/E—

Book Value₹ 38

Price to Book0.74

Dividend Yield0.00 %

ROCE16.5 %

ROE52.3 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company generates healthy free cash flow

CONS

A large part of profit comes from other income (153.5% of PBT)
Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of -14.8% over last 3 years
Company has a low return on capital employed of 6.2%
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.26x)
Company's sales have been declining over the last five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	303.00	120.52	26710.00	692.49	12.88	9.42
12.	BRNL	16.71	0.00	140.28	0.00	-87.27	-753.69	47.39	2.48	16.48	-154.44

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	986	910	975	927	1,031	762	477	473	46	171	42	49	474
	1,098	1,611	1,121	1,291	1,208	907	734	611	18	714	8	88	1,407
Operating Profit	-112	-701	-147	-364	-177	-145	-257	-139	28	-543	34	-40	-933
OPM %	-11.40%	-77.02%	-15.03%	-39.30%	-17.18%	-18.98%	-53.73%	-29.33%	60.69%	-317.28%	81.59%	-80.98%	-196.92%
	20	22	23	49	47	46	1,905	60	5	666	8	-48	60
Interest	470	479	471	462	465	52	13	12	0	0	0	0	0
Depreciation	162	156	164	338	210	176	176	179	19	71	17	22	201
Profit before Tax	-93	-679	-123	-315	-131	-99	1,648	-79	14	123	25	-110	-873
Tax %	22.44%	2.76%	16.44%	5.81%	16.09%	-2.38%	0.32%	9.65%	3.05%	0.98%	-1.08%	-0.05%	0.09%
Net Profit	-72	-661	-103	-297	-110	-101	1,643	-71	13	122	25	-110	-873
	-0.86	-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

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1	142	153	401	299	210	216	326	380	274	155
	4	115	109	226	142	181	141	314	242	218	308
Operating Profit	-3	26	44	175	157	29	75	13	138	57	-153
OPM %	-388.07%	18.39%	28.86%	43.69%	52.46%	13.75%	34.86%	3.92%	36.26%	20.63%	-98.35%
	8	6	100	48	56	53	-121	14	11	206	32
Interest	8	36	46	205	193	167	182	184	188	54	0
Depreciation	0	0	0	34	36	39	43	57	82	74	67
Profit before Tax	-3	-62	97	-15	-12	-125	-408	-222	-121	134	-160
Tax %	-0.03%	-0.96%	11.88%	-40.04%	-9.36%	5.05%	4.65%	7.64%	6.45%	-1.56%	0.10%
Net Profit	-3	-62	86	-21	-13	-119	-389	-205	-113	136	-160
EPS	0.00	-22.37	0.00	0.00	-1.54	-14.15	-46.30	-24.45	-13.34	16.81	—
Dividend Payout %	0.00%	0.00%	36.02%	-10.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 42%
5 Years:: -2%
3 Years:: 8%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: -11%
3 Years:: -24%
1 Year:: -19%

RETURN ON EQUITY

10 Years:: -14%
5 Years:: -23%
3 Years:: -15%
Last Year:: 52%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	10	55	84	84	84	84	84	84	84	84
Minority Interest	0	32	112	107	110	105	93	97	96	91
	-75	386	979	928	917	802	425	218	106	247
	893	734	1,054	1,406	1,664	1,557	1,564	1,544	1,242	242
Trade Payables	0	0	4	1	2	1	5	4	4	3
	10	25	344	454	561	597	656	722	1,158	721
Total Liabilities	838	1,231	2,577	2,979	3,338	3,147	2,827	2,670	2,690	1,388
	2	25	893	869	1,689	1,661	1,629	1,536	1,453	578
	361	449	562	523	486	426	206	119	120	116
	0	0	0	0	0	0	0	0	0	1
Cash & Bank	18	19	15	29	24	57	41	201	255	205
	458	738	1,106	1,558	1,138	1,003	951	814	862	488
Total Assets	838	1,231	2,577	2,979	3,338	3,147	2,827	2,670	2,690	1,388

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-34	-8	148	303	240	53	23	259	264	71
Cash from Investing	-215	-333	-1,031	-365	-157	168	196	81	-208	-40
Cash from Financing	264	353	881	86	-86	-199	-233	-250	-114	-68
	14	11	-7	17	-5	20	-15	90	-57	-37

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.10	51.97	51.97	51.97	51.97	51.97	51.97	51.97	51.73
	0.00	0.01	0.00	0.00	0.01	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.05
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	47.90	48.03	48.03	48.03	48.02	48.03	48.03	48.03	48.22

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07

Copy of Newspaper Publication

2026-09-07 - Bharat Road Network Limited has informed the Exchange about Copy of Newspaper Publication regarding completion of despatch of AGM Notice and Annual Report for the Financial Year ended 31st March, 2026

2026-09-05

Shareholders meeting

2026-09-05 - Bharat Road Network Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-08-26

Copy of Newspaper Publication

2026-08-26 - Bharat Road Network Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-18

Copy of Newspaper Publication

2026-08-18 - Bharat Road Network Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-17

Disclosure under SEBI Takeover Regulations

2026-08-17 - Srei Venture Capital Trust Infrastructure Project Development Capital has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-08-14

Outcome of Board Meeting

2026-08-14 - Bharat Road Network Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-13

Disclosure under SEBI Takeover Regulations

2026-08-13 - Srei Venture Capital Trust infrastructure Project Development Fund has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-08-07

Resignation of Director/KMP/SMP

2026-08-07 - Bharat Road Network Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-06

Change in Director(s)

2026-08-06 - Bharat Road Network Limited has informed the Exchange regarding Change in Director(s) of the company.

News

Recent coverage and analyst commentary for BRNL

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Bharat Road Network Ltd.

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Free 5nance Account

Name

3915.00

32.47

538651.57

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.00

47.52

42742.91

0.35

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1435.05

21.56

24506.71

0.77

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.64

24.86

23721.19

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1244.10

35.53

21372.09

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

269.20

19.30

15130.18

1.86

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

972.50

26.24

11310.13

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.75

35.45

10834.34

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

KEC

406.45

19.54

10819.70

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

IRCON

113.20

20.33

10646.64

1.68

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

253.95

64.55

9339.89

0.79

303.00

120.52

26710.00

692.49

12.88

9.42

BRNL

16.71

0.00

140.28

0.00

-87.27

-753.69

47.39

2.48

16.48

-154.44

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

986

910

975

927

1,031

762

477

473

171

474

1,098

1,611

1,121

1,291

1,208

907

734

611

714

1,407

Operating Profit

-112

-701

-147

-364

-177

-145

-257

-139

-543

-40

-933

OPM %

-11.40%

-77.02%

-15.03%

-39.30%

-17.18%

-18.98%

-53.73%

-29.33%

60.69%

-317.28%

81.59%

-80.98%

-196.92%

1,905

666

-48

Interest

470

479

471

462

465

Depreciation

162

156

164

338

210

176

179

201

Profit before Tax

-93

-679

-123

-315

-131

-99

1,648

-79

123

-110

-873

Tax %

22.44%

2.76%

16.44%

5.81%

16.09%

-2.38%

0.32%

9.65%

3.05%

0.98%

-1.08%

-0.05%

0.09%

Net Profit

-72

-661

-103

-297

-110

-101

1,643

-71

122

-110

-873

-0.86

-7.87

-1.23

-3.53

-1.30

-1.21

19.57

-0.85

1.59

1.44

3.00

-13.13

-10.40

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

142

153

401

299

210

216

326

380

274

155

115

109

226

142

181

141

314

242

218

308

Operating Profit

-3

175

157

138

-153

OPM %

-388.07%

18.39%

28.86%

43.69%

52.46%

13.75%

34.86%

3.92%

36.26%

20.63%

-98.35%

100

-121

206

Interest

205

193

167

182

184

188

Depreciation

Profit before Tax

-3

-62

-15

-12

-125

-408

-222

-121

134

-160

Tax %

-0.03%

-0.96%

11.88%

-40.04%

-9.36%

5.05%

4.65%

7.64%

6.45%

-1.56%

0.10%

Net Profit

-3

-62

-21

-13

-119

-389

-205

-113

136

-160

EPS

0.00

-22.37

0.00

-1.54

-14.15

-46.30

-24.45

-13.34

16.81

—

Dividend Payout %

0.00%

36.02%

-10.97%

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Minority Interest

112

107

110

105

-75

386

979

928

917

802

425

218

106

247

893

734

1,054

1,406

1,664

1,557

1,564

1,544

1,242

242

Trade Payables

344

454

561

597

656

722

1,158

721

Total Liabilities

838

1,231

2,577

2,979

3,338

3,147

2,827

2,670

2,690

1,388

893

869

1,689

1,661

1,629

1,536

1,453

578

361

449

562

523

486

426

206

119

120

116

Cash & Bank

201

255

205

458

738

1,106

1,558

1,138

1,003

951

814

862

488

Total Assets

838

1,231

2,577

2,979

3,338

3,147

2,827

2,670

2,690

1,388

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-34

-8

148

303

240

259

264

Cash from Investing

-215

-333

-1,031

-365

-157

168

196

-208

-40

Cash from Financing

264

353

881

-86

-199

-233

-250

-114

-68

-7

-5

-15

-57

-37

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

52.10

51.97

51.73

0.00

0.01

0.00

0.01

0.00

0.05

Government

0.00

47.90

48.03

48.02

48.03

48.22

Bharat Road Network Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Bharat Road Network Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI