Billionbrains Garage Ventures Ltd.
•2026-08-21
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 26.5%
- Operating margins have improved to 58.7% from 45.4%
- Company comfortably covers its interest (62.4x coverage)
- Attractively priced for its growth - PEG of 0.8
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.03x)
- Equity base is being diluted - shares outstanding up 5939.4%
- Free cash flow has been persistently negative
- Stock is trading at 9.9x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | GROWW | 194.20 | 49.94 | 121833.25 | 0.00 | 7350.40 | — | 15014.20 | 1560.13 | 37.54 | 64.60 |
| 2. | PAYTM | 1585.20 | 156.36 | 101632.42 | 0.00 | 220.00 | 79.59 | 2448.00 | 27.67 | -4.43 | 8.29 |
| 3. | POLICYBZR | 1780.00 | 110.07 | 82359.69 | 0.00 | 1629.10 | 1824.51 | 18882.80 | 1300.81 | 6.85 | 7.24 |
| 4. | PINELABS | 157.65 | 142.91 | 18190.57 | 0.00 | 195.70 | 3985.59 | 7369.20 | 1096.47 | -1.37 | 12.88 |
| 5. | STYL | 379.55 | 23.28 | 6141.34 | 0.66 | 60.34 | 63.78 | 376.47 | 21.10 | 37.71 | 23.21 |
| 6. | CCAVENUE | 14.89 | 17.71 | 5206.17 | 0.00 | 84.77 | 45.08 | 2680.40 | 109.37 | 8.63 | 3.80 |
| 7. | TURTLEMINT | 139.00 | 0.00 | 4093.26 | 0.00 | -377.80 | — | 2940.80 | — | -38.38 | -11.20 |
| 8. | MOBIKWIK | 195.90 | 0.00 | 1542.65 | 0.00 | 7.62 | 118.17 | 281.48 | 3.73 | -8.65 | 2.88 |
| 9. | SUVIDHAA | 2.39 | 0.00 | 50.14 | 0.00 | -1.91 | 55.58 | 2.40 | 135.29 | -32.85 | -70.42 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| 1,125 | 975 | 801 | 904 | 1,019 | 1,216 | 1,505 | 15,014 | |
| 575 | -40 | 413 | 421 | 415 | 496 | 567 | 5,557 | |
| Operating Profit | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — |
| Other Income | 35 | 30 | 49 | 44 | 52 | 45 | 30 | 472 |
| Interest | 9 | 16 | 16 | 16 | 11 | 10 | 8 | 73 |
| Depreciation | 6 | 7 | 7 | 7 | 7 | 9 | 24 | 176 |
| 570 | 1,022 | 414 | 504 | 638 | 746 | 936 | 9,923 | |
| Tax % | 26.27% | 25.87% | 25.26% | 24.78% | 26.06% | 26.55% | 26.63% | 25.92% |
| Net Profit | 0 | 0 | 0 | 0 | 471 | 547 | 686 | 7,350 |
| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |
| Equity Capital | 311 | 366 | 366 | 419 | 1,198 | 1,235 | 1,248 | 12,547 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 311 | 366 | 366 | 419 | 1,198 | 1,235 | 1,248 | 12,547 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
- 1,125
- 575
- Operating Profit
- —
- OPM %
- —
- Other Income
- 35
- Interest
- 9
- Depreciation
- 6
- 570
- Tax %
- 26.27%
- Net Profit
- 0
- 1
- Equity Capital
- 311
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 311
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 975
- -40
- Operating Profit
- —
- OPM %
- —
- Other Income
- 30
- Interest
- 16
- Depreciation
- 7
- 1,022
- Tax %
- 25.87%
- Net Profit
- 0
- 1
- Equity Capital
- 366
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 366
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 801
- 413
- Operating Profit
- —
- OPM %
- —
- Other Income
- 49
- Interest
- 16
- Depreciation
- 7
- 414
- Tax %
- 25.26%
- Net Profit
- 0
- 1
- Equity Capital
- 366
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 366
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 904
- 421
- Operating Profit
- —
- OPM %
- —
- Other Income
- 44
- Interest
- 16
- Depreciation
- 7
- 504
- Tax %
- 24.78%
- Net Profit
- 0
- 1
- Equity Capital
- 419
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 419
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 1,019
- 415
- Operating Profit
- —
- OPM %
- —
- Other Income
- 52
- Interest
- 11
- Depreciation
- 7
- 638
- Tax %
- 26.06%
- Net Profit
- 471
- 1
- Equity Capital
- 1,198
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,198
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 1,216
- 496
- Operating Profit
- —
- OPM %
- —
- Other Income
- 45
- Interest
- 10
- Depreciation
- 9
- 746
- Tax %
- 26.55%
- Net Profit
- 547
- 1
- Equity Capital
- 1,235
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,235
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 1,505
- 567
- Operating Profit
- —
- OPM %
- —
- Other Income
- 30
- Interest
- 8
- Depreciation
- 24
- 936
- Tax %
- 26.63%
- Net Profit
- 686
- 1
- Equity Capital
- 1,248
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,248
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 15,014
- 5,557
- Operating Profit
- —
- OPM %
- —
- Other Income
- 472
- Interest
- 73
- Depreciation
- 176
- 9,923
- Tax %
- 25.92%
- Net Profit
- 7,350
- 1
- Equity Capital
- 12,547
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 12,547
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| 1,142 | 2,609 | 3,902 | 4,645 | 5,242 | |
| 743 | 2,044 | 1,529 | 1,917 | 2,033 | |
| Operating Profit | 518 | 752 | 2,532 | 2,918 | — |
| OPM % | 45 | 29 | 65 | 63 | — |
| Other Income | 119 | 187 | 160 | 190 | 174 |
| Interest | 2 | 4 | 43 | 46 | 37 |
| Depreciation | 12 | 20 | 25 | 48 | 58 |
| 504 | -618 | 2,464 | 2,821 | 3,312 | |
| Tax % | 9 | -30 | 26 | 26 | 26 |
| Net Profit | 458 | -805 | 1,824 | 2,083 | 2,442 |
| EPS | 1 | -388 | 10 | 3 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | — |
| Minority Interest | -0 | 1 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | -3 |
| Adjusted EPS | 3 | -5 | 9 | 3 | — |
| Minority Interest | -0 | 1 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | -3 |
| Adjusted EPS | 3 | -5 | 9 | 3 | — |
- 1,142
- 743
- Operating Profit
- 518
- OPM %
- 45
- Other Income
- 119
- Interest
- 2
- Depreciation
- 12
- 504
- Tax %
- 9
- Net Profit
- 458
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 3
- 2,609
- 2,044
- Operating Profit
- 752
- OPM %
- 29
- Other Income
- 187
- Interest
- 4
- Depreciation
- 20
- -618
- Tax %
- -30
- Net Profit
- -805
- EPS
- -388
- Dividend Payout %
- 0
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- -5
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- -5
- 3,902
- 1,529
- Operating Profit
- 2,532
- OPM %
- 65
- Other Income
- 160
- Interest
- 43
- Depreciation
- 25
- 2,464
- Tax %
- 26
- Net Profit
- 1,824
- EPS
- 10
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- 4,645
- 1,917
- Operating Profit
- 2,918
- OPM %
- 63
- Other Income
- 190
- Interest
- 46
- Depreciation
- 48
- 2,821
- Tax %
- 26
- Net Profit
- 2,083
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- 5,242
- 2,033
- Operating Profit
- —
- OPM %
- —
- Other Income
- 174
- Interest
- 37
- Depreciation
- 58
- 3,312
- Tax %
- 26
- Net Profit
- 2,442
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- -3
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- -3
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 60%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 66%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 18%
- Last Year:
- 30%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| LIABILITIES | - | - | - | - |
| 21 | 21 | 366 | 1,248 | |
| 3,115 | 2,317 | 4,244 | 8,170 | |
| 0 | 24 | 334 | 209 | |
| Trade Payables | 1,373 | 3,916 | 4,562 | 8,057 |
| 298 | 1,696 | 556 | 816 | |
| Total Liabilities | 4,807 | 7,974 | 10,061 | 18,501 |
| ASSETS | - | - | - | - |
| 321 | 396 | 402 | 1,492 | |
| 1,252 | 1,448 | 1,907 | 2,638 | |
| 0 | 69 | 97 | 277 | |
| Cash & Bank | 1,661 | 3,682 | 4,256 | 8,339 |
| 1,574 | 2,378 | 3,400 | 5,755 | |
| Total Assets | 4,807 | 7,974 | 10,061 | 18,501 |
| Total Debt | 0 | 24 | 544 | 224 |
| Net Working Capital | 2,547 | 1,033 | 3,635 | 5,571 |
| Contingent Liabilities | 8 | 100 | 404 | 813 |
| Book Value per Share | 1517.44 | 1127.58 | 25.21 | 15.10 |
| Face Value | 10.00 | 10.00 | 2.00 | 2.00 |
| Total Debt | 0 | 24 | 544 | 224 |
| Net Working Capital | 2,547 | 1,033 | 3,635 | 5,571 |
| Contingent Liabilities | 8 | 100 | 404 | 813 |
| Book Value per Share | 1517.44 | 1127.58 | 25.21 | 15.10 |
| Face Value | 10.00 | 10.00 | 2.00 | 2.00 |
- 21
- 3,115
- 0
- Trade Payables
- 1,373
- 298
- Total Liabilities
- 4,807
- 321
- 1,252
- 0
- Cash & Bank
- 1,661
- 1,574
- Total Assets
- 4,807
- Total Debt
- 0
- Net Working Capital
- 2,547
- Contingent Liabilities
- 8
- Book Value per Share
- 1517.44
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 2,547
- Contingent Liabilities
- 8
- Book Value per Share
- 1517.44
- Face Value
- 10.00
- 21
- 2,317
- 24
- Trade Payables
- 3,916
- 1,696
- Total Liabilities
- 7,974
- 396
- 1,448
- 69
- Cash & Bank
- 3,682
- 2,378
- Total Assets
- 7,974
- Total Debt
- 24
- Net Working Capital
- 1,033
- Contingent Liabilities
- 100
- Book Value per Share
- 1127.58
- Face Value
- 10.00
- Total Debt
- 24
- Net Working Capital
- 1,033
- Contingent Liabilities
- 100
- Book Value per Share
- 1127.58
- Face Value
- 10.00
- 366
- 4,244
- 334
- Trade Payables
- 4,562
- 556
- Total Liabilities
- 10,061
- 402
- 1,907
- 97
- Cash & Bank
- 4,256
- 3,400
- Total Assets
- 10,061
- Total Debt
- 544
- Net Working Capital
- 3,635
- Contingent Liabilities
- 404
- Book Value per Share
- 25.21
- Face Value
- 2.00
- Total Debt
- 544
- Net Working Capital
- 3,635
- Contingent Liabilities
- 404
- Book Value per Share
- 25.21
- Face Value
- 2.00
- 1,248
- 8,170
- 209
- Trade Payables
- 8,057
- 816
- Total Liabilities
- 18,501
- 1,492
- 2,638
- 277
- Cash & Bank
- 8,339
- 5,755
- Total Assets
- 18,501
- Total Debt
- 224
- Net Working Capital
- 5,571
- Contingent Liabilities
- 813
- Book Value per Share
- 15.10
- Face Value
- 2.00
- Total Debt
- 224
- Net Working Capital
- 5,571
- Contingent Liabilities
- 813
- Book Value per Share
- 15.10
- Face Value
- 2.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 548 | 885 | -962 | -21 | |
| Cash from Investing | -371 | -911 | 140 | -1,351 |
| Cash from Financing | -5 | 4 | 876 | 2,175 |
| 172 | -22 | 53 | 804 | |
| Free Cash Flow | 548 | 798 | -974 | -1,149 |
| OCF / Net Profit | 1.20 | -1.10 | -0.53 | -0.01 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
| OCF / Net Profit | 1.20 | -1.10 | -0.53 | -0.01 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
- 548
- Cash from Investing
- -371
- Cash from Financing
- -5
- 172
- Free Cash Flow
- 548
- OCF / Net Profit
- 1.20
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.20
- Cumulative 5-Year FCF
- 0
- 885
- Cash from Investing
- -911
- Cash from Financing
- 4
- -22
- Free Cash Flow
- 798
- OCF / Net Profit
- -1.10
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -1.10
- Cumulative 5-Year FCF
- 0
- -962
- Cash from Investing
- 140
- Cash from Financing
- 876
- 53
- Free Cash Flow
- -974
- OCF / Net Profit
- -0.53
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.53
- Cumulative 5-Year FCF
- 0
- -21
- Cash from Investing
- -1,351
- Cash from Financing
- 2,175
- 804
- Free Cash Flow
- -1,149
- OCF / Net Profit
- -0.01
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.01
- Cumulative 5-Year FCF
- 0
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| PER SHARE | - | - | - | - |
| EPS (₹) | 221.51 | -388.24 | 9.98 | 3.34 |
| Book Value (₹) | 1517.44 | 1127.58 | 25.21 | 15.10 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 2.64 | -4.39 | 8.79 | 3.42 |
| PROFITABILITY | - | - | - | - |
| Operating Margin % | 45.40% | 21.67% | 60.80% | 58.73% |
| Net Margin % | 40.10% | -30.87% | 46.76% | 44.85% |
| ROE % | 14.60% | -29.43% | 52.52% | 29.70% |
| ROCE % | 15.25% | -20.88% | 62.92% | 37.54% |
| 9.52% | -12.60% | 20.23% | 14.59% | |
| EFFICIENCY | - | - | - | - |
| Debtor Days | 12 | 7 | 8 | 15 |
| Inventory Days | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 |
| 12 | 7 | 8 | 15 | |
| FINANCIAL HEALTH | - | - | - | - |
| Debt to Equity (x) | 0.00x | 0.01x | 0.12x | 0.02x |
| Interest Coverage (x) | 244.17x | -146.33x | 58.90x | 62.41x |
| 2.74x | 1.19x | 1.73x | 1.64x | |
| GROWTH | - | - | - | - |
| Revenue Growth % | 0.00% | 128.58% | 49.53% | 19.04% |
| Operating Profit Growth % | 0.00% | 45.15% | 236.66% | 15.22% |
| Net Profit Growth % | 0.00% | -275.97% | 326.50% | 14.18% |
| 0.00% | -275.27% | 102.57% | -66.54% | |
| VALUATION | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 44.96x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 9.94x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | -4.78x | -1.30x | 29.32x |
- EPS (₹)
- 221.51
- Book Value (₹)
- 1517.44
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.64
- Operating Margin %
- 45.40%
- Net Margin %
- 40.10%
- ROE %
- 14.60%
- ROCE %
- 15.25%
- 9.52%
- Debtor Days
- 12
- Inventory Days
- 0
- Payable Days
- 0
- 12
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 244.17x
- 2.74x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- -388.24
- Book Value (₹)
- 1127.58
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -4.39
- Operating Margin %
- 21.67%
- Net Margin %
- -30.87%
- ROE %
- -29.43%
- ROCE %
- -20.88%
- -12.60%
- Debtor Days
- 7
- Inventory Days
- 0
- Payable Days
- 0
- 7
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- -146.33x
- 1.19x
- Revenue Growth %
- 128.58%
- Operating Profit Growth %
- 45.15%
- Net Profit Growth %
- -275.97%
- -275.27%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- -4.78x
- EPS (₹)
- 9.98
- Book Value (₹)
- 25.21
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 8.79
- Operating Margin %
- 60.80%
- Net Margin %
- 46.76%
- ROE %
- 52.52%
- ROCE %
- 62.92%
- 20.23%
- Debtor Days
- 8
- Inventory Days
- 0
- Payable Days
- 0
- 8
- Debt to Equity (x)
- 0.12x
- Interest Coverage (x)
- 58.90x
- 1.73x
- Revenue Growth %
- 49.53%
- Operating Profit Growth %
- 236.66%
- Net Profit Growth %
- 326.50%
- 102.57%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- -1.30x
- EPS (₹)
- 3.34
- Book Value (₹)
- 15.10
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.42
- Operating Margin %
- 58.73%
- Net Margin %
- 44.85%
- ROE %
- 29.70%
- ROCE %
- 37.54%
- 14.59%
- Debtor Days
- 15
- Inventory Days
- 0
- Payable Days
- 0
- 15
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 62.41x
- 1.64x
- Revenue Growth %
- 19.04%
- Operating Profit Growth %
- 15.22%
- Net Profit Growth %
- 14.18%
- -66.54%
- P/E (x)
- 44.96x
- P/B (x)
- 9.94x
- Dividend Yield %
- 0.00%
- 29.32x
Documents
Announcements
- ESOP/ESOS/ESPS
2026-08-13 - Billionbrains Garage Ventures Limited has informed the Exchange regarding Grant of 149874 Options under Billionbrains Garage Ventures Limited Employee Stock Option Scheme 2024.
- Sale or disposal
2026-08-04 - Billionbrains Garage Ventures Limited has informed the Exchange about the update on proposed investment by State Street Global Advisors, Inc. in Groww Asset Management Limited (Subsidiary) is annexed herewith.
Annual Reports
Credit Ratings
- Credit Rating
2026-07-30 - Billionbrains Garage Ventures Limited has informed the Exchange about Credit Rating
- Credit Rating- New
2026-04-01 - Billionbrains Garage Ventures Limited has informed the Exchange about Credit Rating- New
- Credit Rating
2025-11-28 - Billionbrains Garage Ventures Limited has informed the Exchange about Credit Rating
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