Brightcom Group Ltd

₹ 10.2 4.38%

30 Dec 2024

About

Incorporated in 2010, Brightcom Group Ltd (formerly Lycos Internet Ltd) offers digital marketing solutions to businesses, agencies and online publishers worldwide^[1]

Key Points

Business Segments
1) Ad-Tech & Digital Marketing (91% in H1 FY25 vs 93% in FY22): ^[1] ^[2] The company offers digital marketing solutions including Ad campaigns in video, banners, email, search, social, mobile marketing, display advertising, connected TV advertising, etc to businesses, agencies, and online publishers globally. ^[3] ^[4]

Website BSE NSE

Market Cap ₹ 2,068 Cr.
Current Price ₹ 10.2
High / Low ₹ 15.1 / 6.65
Stock P/E 3.30
Book Value ₹ 40.5
Dividend Yield 0.00 %
ROCE 12.9 %
ROE 9.30 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.
Stock is trading at 0.25 times its book value
Company is expected to give good quarter

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding is low: 18.4%
Contingent liabilities of Rs.3,585 Cr.
Dividend payout has been low at 2.21% of profits over last 3 years
Company has high debtors of 287 days.
Working capital days have increased from 251 days to 359 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: IT - Software Industry: Computers - Software - Medium / Small

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	2,021	1,240	1,481	1,683	2,865	1,368	1,690	1,814	453	705	1,182	1,303	1,674
	1,452	857	1,025	1,173	2,049	977	1,172	1,263	413	574	882	965	1,247
Operating Profit	569	384	456	510	816	391	518	551	40	130	300	338	427
OPM %	28%	31%	31%	30%	28%	29%	31%	30%	9%	18%	25%	26%	26%
	-0	-1	-3	-3	-1	1	0	-1	0	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	63	66	66	62	68	69	72	67	71	75	76	72	76
Profit before tax	506	317	387	445	746	323	446	483	-30	55	224	266	351
Tax %	27%	30%	28%	28%	27%	29%	28%	27%	-20%	32%	29%	30%	31%
	371	223	277	321	544	229	321	352	-24	37	160	186	244
EPS in Rs	2.14	1.11	1.37	1.59	2.70	1.14	1.59	1.75	-0.12	0.19	0.79	0.92	1.21
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,600	1,663	1,951	2,250	2,451	2,421	2,580	2,692	2,856	5,020	7,397	4,662	4,864
	1,493	1,296	1,379	1,576	1,722	1,707	1,821	1,904	1,990	3,513	5,224	3,423	3,668
Operating Profit	107	367	572	674	729	714	759	789	865	1,507	2,173	1,239	1,195
OPM %	7%	22%	29%	30%	30%	29%	29%	29%	30%	30%	29%	27%	25%
	14	2	14	0	1	-0	-3	14	21	-2	-6	0	0
Interest	35	27	23	16	15	15	13	6	0	0	0	0	0
Depreciation	26	69	41	64	96	108	135	180	226	246	266	285	300
Profit before tax	60	273	522	594	619	590	609	617	660	1,258	1,900	954	895
Tax %	15%	19%	34%	33%	31%	31%	27%	29%	27%	27%	28%	28%
	51	221	342	400	429	407	444	440	483	912	1,371	688	627
EPS in Rs	0.51	2.23	3.45	4.03	4.33	4.10	4.47	4.44	4.57	4.52	6.79	3.41	3.11
Dividend Payout %	0%	0%	0%	2%	0%	0%	0%	1%	1%	7%	0%	0%

Compounded Sales Growth
10 Years:	11%
5 Years:	13%
3 Years:	18%
TTM:	-9%

Compounded Profit Growth
10 Years:	12%
5 Years:	9%
3 Years:	12%
TTM:	-29%

Stock Price CAGR
10 Years:	-2%
5 Years:	36%
3 Years:	-50%
1 Year:	-32%

Return on Equity
10 Years:	17%
5 Years:	16%
3 Years:	17%
Last Year:	9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	95	95	95	95	95	95	95	95	102	404	404	404	404
Reserves	943	1,064	1,435	1,937	2,313	2,730	2,909	2,731	3,158	4,891	6,597	7,381	7,763
	188	158	94	81	79	77	67	36	0	0	0	0	0
	379	486	461	328	362	358	391	405	428	645	892	977	1,184
Total Liabilities	1,605	1,803	2,085	2,441	2,849	3,260	3,461	3,267	3,688	5,939	7,893	8,762	9,351
	284	274	258	483	567	542	524	695	719	850	856	851	986
CWIP	42	42	270	172	71	301	285	268	322	179	255	400	273
Investments	8	9	6	109	107	106	225	251	356	536	567	572	574
	1,272	1,479	1,551	1,678	2,104	2,310	2,427	2,053	2,291	4,374	6,215	6,939	7,518
Total Assets	1,605	1,803	2,085	2,441	2,849	3,260	3,461	3,267	3,688	5,939	7,893	8,762	9,351

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-105	211	276	242	151	315	510	89	460	287	703	134
	-3	-60	-271	-293	-80	-313	-387	-272	-431	-217	-266	-410
	31	-202	9	54	-51	7	-109	199	-22	548	230	73
Net Cash Flow	-76	-51	13	3	21	9	13	16	8	618	667	-203

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	146	173	158	117	116	132	126	132	143	137	148	287
Inventory Days								0	0
Days Payable
Cash Conversion Cycle	146	173	158	117	116	132	126	132	143	137	148	287
Working Capital Days	166	166	159	176	218	251	245	188	205	207	186	359
ROCE %	8%	24%	37%	33%	28%	22%	21%	21%	22%	29%	31%	13%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	18.48%	18.47%	18.47%	18.48%	18.43%	18.38%	18.38%	18.38%	18.38%	18.38%	18.38%	18.38%
	13.55%	14.00%	14.55%	15.79%	8.90%	9.53%	10.53%	10.70%	9.39%	9.01%	8.01%	8.01%
	0.07%	0.05%	0.06%	0.08%	0.08%	0.11%	0.17%	0.15%	0.00%	0.00%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	67.91%	67.45%	66.91%	65.66%	72.57%	71.97%	70.92%	70.76%	72.24%	72.62%	73.62%	73.62%
No. of Shareholders	3,14,851	3,68,070	4,08,244	4,41,511	4,83,367	5,36,492	5,75,405	6,62,441	6,64,142	6,46,230	6,31,930	6,31,930

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	34.37%	27.64%	20.00%	18.32%	13.97%	7.24%	3.51%	18.48%	18.38%	18.38%
	20.21%	20.43%	15.65%	7.25%	7.25%	0.72%	12.15%	15.79%	10.70%	8.01%
	0.75%	0.71%	0.72%	0.71%	0.71%	0.00%	0.00%	0.08%	0.15%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%
	44.67%	51.23%	63.62%	73.73%	78.07%	92.04%	84.34%	65.66%	70.76%	73.62%
No. of Shareholders	19,804	27,332	34,140	32,105	28,946	65,061	2,67,918	4,41,511	6,62,441	6,31,930

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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