Brigade Enterprises Ltd

Brigade Enterpr. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Brigade Enterprises Ltd

₹ 997 1.45%
16 Apr 10:39 a.m.
brigadegroup.com BSE: 532929 NSE : BRIGADE
About

Brigade Enterprises Ltd was established in 1986. It is a real estate developer in South India, based in Bengaluru, and expanding its area of operations in other parts of India. It has completed over 250 buildings aggregating to over 70 mn. sqft of developed space in residential, offices, retail, and hospitality sectors across Bengaluru and Mysuru, Chennai, Ahmedabad, Hyderabad, Kochi [1] [2] [3]

Key Points

Business Segments FY22 [1]

Website BSE NSE
  • Market Cap ₹ 23,041 Cr.
  • Current Price ₹ 997
  • High / Low ₹ 1,108 / 482
  • Stock P/E 87.7
  • Book Value ₹ 173
  • Dividend Yield 0.20 %
  • ROCE 11.1 %
  • ROE 9.26 %
  • Face Value ₹ 10.0
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Pros

  • Debtor days have improved from 55.6 to 41.6 days.

Cons

  • Stock is trading at 5.67 times its book value
  • Company has a low return on equity of 8.74% over last 3 years.
  • Earnings include an other income of Rs.233 Cr.
  • Dividend payout has been low at 13.6% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -4.04%

* 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: Realty Industry: Construction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
525 613 240 565 680 676 624 585 514 485 316 439 413
400 449 177 436 495 536 487 456 407 395 257 348 326
Operating Profit 125 164 63 129 185 141 138 129 107 91 59 91 87
OPM % 24% 27% 26% 23% 27% 21% 22% 22% 21% 19% 19% 21% 21%
-13 18 27 40 34 42 67 46 44 95 43 57 38
Interest 51 45 39 36 34 34 32 33 35 34 32 32 38
Depreciation 23 23 20 22 22 20 19 19 20 21 18 19 22
Profit before tax 38 114 31 110 163 129 154 123 95 130 53 97 64
Tax % 29% 14% 27% 25% 26% 35% 26% 26% 27% 16% 27% 26% 26%
27 99 23 82 120 84 114 91 70 109 39 72 47
EPS in Rs 1.28 4.68 0.99 3.57 5.22 3.64 4.97 3.96 3.03 4.74 1.67 3.12 2.04
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
571 776 899 988 1,563 1,484 1,249 1,798 1,837 1,524 2,161 2,209 1,654
431 573 614 693 1,192 1,081 848 1,316 1,347 1,118 1,640 1,740 1,326
Operating Profit 140 203 285 295 371 402 401 482 491 406 520 469 327
OPM % 25% 26% 32% 30% 24% 27% 32% 27% 27% 27% 24% 21% 20%
38 12 17 20 90 86 103 123 130 56 140 247 233
Interest 60 83 102 115 150 180 183 178 200 198 143 134 137
Depreciation 49 72 77 92 98 76 69 68 76 87 84 80 80
Profit before tax 68 60 123 109 212 233 252 359 344 178 433 502 344
Tax % 15% -7% 27% 36% 31% 30% 28% 35% 24% 19% 29% 23%
58 64 90 70 147 164 181 234 261 145 309 385 267
EPS in Rs 3.45 3.82 5.33 4.14 8.68 9.62 8.84 11.46 12.76 6.85 13.41 16.69 11.57
Dividend Payout % 29% 26% 25% 32% 15% 17% 15% 12% 8% 18% 11% 12%
Compounded Sales Growth
10 Years: 11%
5 Years: 12%
3 Years: 6%
TTM: -31%
Compounded Profit Growth
10 Years: 19%
5 Years: 15%
3 Years: 9%
TTM: -22%
Stock Price CAGR
10 Years: 36%
5 Years: 43%
3 Years: 57%
1 Year: 97%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 9%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 112 112 112 113 113 114 136 136 204 211 230 231 231
Reserves 1,051 1,096 1,160 1,204 1,414 1,581 2,192 2,171 2,310 2,566 3,334 3,698 3,773
851 995 843 1,241 1,716 1,648 1,959 1,907 2,035 1,876 1,631 1,425 1,402
614 550 838 1,005 1,587 1,379 1,469 3,246 3,116 3,456 3,599 3,788 4,193
Total Liabilities 2,628 2,752 2,953 3,563 4,829 4,721 5,756 7,460 7,666 8,109 8,795 9,142 9,599
449 993 1,162 1,087 224 975 1,015 1,280 1,405 1,385 1,410 1,365 1,347
CWIP 925 356 188 377 435 250 432 179 75 4 3 16 38
Investments 21 92 133 192 1,631 827 1,353 1,498 1,793 2,051 2,595 2,347 2,331
1,234 1,311 1,470 1,906 2,540 2,669 2,957 4,503 4,393 4,669 4,786 5,413 5,883
Total Assets 2,628 2,752 2,953 3,563 4,829 4,721 5,756 7,460 7,666 8,109 8,795 9,142 9,599

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
243 125 449 -16 213 414 69 230 292 419 534 283
-211 -114 -159 -240 -473 -342 -638 103 -194 -151 -583 72
-29 -15 -288 251 273 -92 557 -261 -58 -282 123 -360
Net Cash Flow 3 -4 2 -5 13 -19 -12 72 40 -14 74 -5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 21 7 14 6 11 14 43 73 56 78 47 42
Inventory Days 1,311 3,942 1,946 2,203 5,741 2,269 2,098
Days Payable 170 1,005 397 518 1,569 284 212
Cash Conversion Cycle 21 1,148 2,950 6 1,560 1,698 4,216 2,058 1,943 78 47 42
Working Capital Days 260 146 -150 -162 -52 -25 75 84 23 46 54 69
ROCE % 7% 7% 10% 10% 12% 13% 11% 12% 13% 9% 11% 11%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
48.03% 44.11% 43.96% 43.91% 43.88% 43.85% 43.82% 43.80% 43.79% 43.78% 43.77% 43.75%
11.82% 12.89% 13.08% 13.93% 13.64% 13.31% 13.44% 14.24% 14.31% 13.67% 13.40% 13.73%
20.54% 25.20% 24.97% 23.86% 23.86% 24.69% 25.28% 24.55% 24.62% 25.45% 25.41% 25.01%
19.61% 17.80% 17.99% 18.30% 18.62% 18.15% 17.46% 17.39% 17.27% 17.09% 17.44% 17.50%
No. of Shareholders 45,48546,05551,29357,41763,19763,53164,88664,27062,61160,92063,53568,712

* 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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