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Bharat Road Network Ltd.
(BRNL)
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Rating:42Neutral
Price Target:
₹13.00
▼(-41.02% Downside)
Action:Reiterated
Date:09/06/26
The score is driven primarily by weak financial performance, highlighted by the latest year’s profitability deterioration and negative operating/free cash flow despite improved leverage. Technicals add further pressure as the stock trades below key moving averages with negative momentum indicators. Valuation provides limited support because the negative P/E is driven by losses and dividend yield data is unavailable.
Positive Factors
Material deleveraging
The substantial reduction in debt-to-equity improves financial flexibility compared with prior years and can reduce balance-sheet strain for a capital-intensive infrastructure operator. Although leverage remains meaningful, the lower debt burden provides a stronger base for managing concessions and funding future activity.
Negative Factors
Sharp revenue contraction
A roughly 44% annual revenue decline indicates a significant contraction in current business activity and reduces the base available to absorb operating and financing costs. For a project-driven infrastructure company, sustained weakness could impair earnings recovery and limit internally funded growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Material deleveraging
The substantial reduction in debt-to-equity improves financial flexibility compared with prior years and can reduce balance-sheet strain for a capital-intensive infrastructure operator. Although leverage remains meaningful, the lower debt burden provides a stronger base for managing concessions and funding future activity.
Read all positive factors
Bharat Road Network Ltd. (BRNL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.14B
Dividend Yield0.82%
Average Volume (3M)4.46K
Price to Earnings (P/E)―
Beta (1Y)1.22
Revenue Growth-28.52%
EPS Growth-179.94%
CountryIN
Employees36
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)-21.61
Shares Outstanding83,950,000
10 Day Avg. Volume5,809
30 Day Avg. Volume4,464
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.18
Price to Sales (P/S)0.46
P/FCF Ratio-0.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Bharat Road Network Ltd. Business Overview & Revenue Model
Company Description
Bharat Road Network Limited (BRNL) is an Indian enterprise specializing in the comprehensive lifecycle management of road infrastructure. The company undertakes the design, development, construction, ownership, operation, and transfer of roads and...
Bharat Road Network Ltd. Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
52
Neutral
Cash Flow
31
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.55B | 1.54B | 2.74B | 3.80B | 3.26B | 2.16B |
| Gross Profit | -1.21B | 693.70M | 1.27B | 2.88B | 636.95M | 1.39B |
| EBITDA | -1.08B | 516.14M | 2.62B | 1.49B | 269.31M | -452.03M |
| Net Income | -1.34B | -296.44M | 1.41B | -1.12B | -2.10B | -3.76B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 14.36B | 14.35B | 27.34B | 27.06B | 28.46B |
| Cash, Cash Equivalents and Short-Term Investments | 3.50B | 3.50B | 2.23B | 2.76B | 2.22B | 609.29M |
| Total Debt | 0.00 | 4.34B | 4.34B | 13.28B | 14.13B | 14.92B |
| Total Liabilities | -5.34B | 9.01B | 10.12B | 24.48B | 23.07B | 22.44B |
| Stockholders Equity | 5.34B | 4.03B | 3.31B | 1.90B | 3.02B | 5.09B |
Cash Flow | ||||||
| Free Cash Flow | -681.98M | -1.88B | 246.94M | 2.60B | 2.51B | -63.20M |
| Operating Cash Flow | -612.51M | -1.81B | 768.53M | 3.65B | 2.59B | 219.49M |
| Investing Cash Flow | 1.08B | 3.03B | -518.32M | -2.08B | 807.52M | 1.96B |
| Financing Cash Flow | 0.00 | 0.00 | -620.46M | -2.14B | -2.50B | -2.33B |
Bharat Road Network Ltd. Technical Analysis
Negative
22.04
Price Trends
16.29
Negative
17.24
Negative
18.69
Negative
Market Momentum
-0.72
Positive
26.21
Positive
19.61
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BRNL, the sentiment is Negative. The current price of 22.04 is above the 20-day moving average (MA) of 15.29, above the 50-day MA of 16.29, and above the 200-day MA of 18.69, indicating a bearish trend. The MACD of -0.72 indicates Positive momentum. The RSI at 26.21 is Positive, neither overbought nor oversold. The STOCH value of 19.61 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BRNL.
Bharat Road Network Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹193.73B | 20.21 | ― | 1.06% | -14.25% | -80.89% | |
50 Neutral | ₹687.06M | 2.41 | ― | 13.51% | 7.31% | ― | |
44 Neutral | ₹1.25B | -0.04 | ― | 0.27% | 45.58% | -2546.83% | |
43 Neutral | ₹390.63M | -18.00 | ― | ― | 439.66% | -100.16% | |
42 Neutral | ₹1.14B | -0.63 | ― | 0.82% | -28.52% | -179.94% |
* General Sector Average
IN:BRNL
Bharat Road Network Ltd.
13.53
-9.77
-41.93%
IN:ARSSINFRA
ARSS Infrastructure Projects Limited
54.84
0.00
0.00%
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1.63
-1.69
-50.90%
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IL&FS Transportation Networks Limited
1.80
-1.26
-41.18%
IN:IRB
IRB Infrastructure Developers Limited
16.04
-6.16
-27.75%
IN:NOIDATOLL
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3.69
-0.68
-15.56%
Bharat Road Network Ltd. Corporate Events
Bharat Road Network Publishes Scrutinizer’s Report and Voting Outcomes for 19th AGM
Oct 1, 2026
Bharat Road Network Limited has reported that its 19th Annual General Meeting was duly convened and held on September 30, 2026 via video conferencing and other audio visual means, in line with MCA and SEBI guidelines. The company confirmed that th...
Bharat Road Network Holds Virtual AGM, Addresses Audit Qualifications
Sep 30, 2026
Bharat Road Network Ltd. convened its 19th Annual General Meeting on September 30, 2026 via video conferencing, complying with guidelines from the Ministry of Corporate Affairs and SEBI for electronic participation. Seventy-four members attended, ...
Bharat Road Network sets September AGM to clear FY26 accounts and related-party framework
Sep 5, 2026
Bharat Road Network Ltd. has scheduled its nineteenth Annual General Meeting for 30 September 2026 at 2:30 p.m. IST, to be conducted via video conferencing and other audio-visual means, with the company’s registered office in Kolkata designa...
Bharat Road Network Sets Virtual AGM for September 30, 2026
Aug 26, 2026
Bharat Road Network Ltd. has notified stock exchanges that its 19th Annual General Meeting will be held on September 30, 2026, at 2:30 p.m. via video conferencing or other audio-visual means, with the registered office in Kolkata deemed as the ven...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.