AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Resignation of Director 6 Aug - Bajrang Kumar Choudhary resigned as Non-Executive Director effective 5 August 2026.
Source: Bse
Bharat Road Network Limited (BRNL)
Small CapInfra stocks · Small cap · NSE
Bharat Road Network Limited operates in Roads, within the Infra sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹14.78
-0.86 · -5.50%
Market cap ₹134 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 05:56 pm ISTDetails
Quote19 Oct, 05:56 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:00 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Infra P/E 15.4 (n=87)
Technical timing lens
Trend score and candlestick chart
27Bearishfull bear SMA stack · SMA20 -5.6% / mo · RSI oversold · MACD − · near 52W low · sector -2.7pp vs Nifty 500 (3M)
Stock trend: 22
Sector RS: 35
Sector 3M: -8.3% vs Nifty 500 -5.6%
Infra FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
BRNLD candles · FIT view-27.7%Latest close ₹14.78 on 2026-10-19
Bar
-5.5%
RSI
27
MACD hist
-0.05
52W pos
4%
2026-10-19O ₹15.64H ₹15.64L ₹14.31C ₹14.78Vol 33,085 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
BRNLNifty InfraNifty 500
- BRNL
- -15.6%
- Nifty 500
- -5.6%
- Nifty Infra
- -8.2%
- Vs Nifty 500
- -10.0 pp
Chart stats
19 Oct 2026- From 52W high
- -44.2%
- 52W range position
- 4%
- ATR (14)
- 5.1%
- Volume vs 20D
- 1.46x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹14.3 - ₹17.4
₹26.5
₹14.3 - ₹26.5
₹0.8
Latest completed session
20-session average
31.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED23
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +2.2% · PAT -769.2% YoY
Technical
Bearish27
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence52
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100PAT -769% YoY · margin compression · Rev +2% YoY
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹47 Cr | +2.2% | -4.1% |
| EBITDA | ₹-73 Cr | -360.7% | -82.5% |
| Operating margin | -154.0% | -21500 bps | -7300 bps |
| PAT | ₹-87 Cr | -769.2% | NDF |
| PAT margin | -185.1% | -21337 bps | +3938 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- 0.34
- EV/EBITDA
- —
- Market Cap
- 134.00Cr
Profitability
- ROE
- -8.15%
- ROCE
- -6.53%
- ROA
- -11.14%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- -6.00%
- EPS 5Y
- 12.00%
- Revenue 3Y
- -22.00%
- EPS 3Y
- 23.00%
Balance Sheet
- Debt/Equity
- 1.08
- Interest Coverage
- —
- Altman Z
- 0.31
- Book Value
- 48.00
Cash Flow
- FCF Yield
- 150.75%
- FCF Positive Y
- 8/5
- OCF
- -126.00 Cr
- EPS TTM
- -15.99
Shareholding
- Promoter Hold
- 51.73%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 9%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 154-43.8% vs prev
Net Profit
₹ CrLatest: -59.0-143.4% vs prev
Return on Equity
%Latest: -14.6-135.6% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 27.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~5.9% over last month) — short-term momentum negative.
- RSI(14) at 27 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
15
RS percentile
Stage 4 Downtrend
1M return
-9.0%
3M return
-15.6%
6M return
-30.0%
1Y return
-34.8%
RS 1D
-3
RS 20D
-2
Sector rank
#16
Industry rank
#70
Stage evidence
- Price is 19.7% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 66.55-4.52%
RS vs Nifty 50067
Valuation & peers
U-Score 23 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 23 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · OVERVALUEDValuation5/30
Growth13/25
Quality0/20
Balance Sheet3/15
Cash Flow9/10
Piotroski
2/9 (+0)
Penalties
-7
Raw sum
23
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
23/100 · legacy band OVERVALUED
Positive drivers
- FCF yield is supportive at 150.8%.
- Cash flow contributes 9/10 to the score.
- Growth contributes 13/25 to the score.
Main drags
- Altman Z is 0.3, in distress territory.
- Penalty bucket subtracts 7 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
—
PB
0.3
EV/EBITDA
—
ROE
-8.2%
ROCE
-6.5%
FCF Yield
150.8%
Debt/Equity
1.1
MoS
—
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
23
Previous: 23
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
23
23
23
23
23
23
23
23
23
23
23
23
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
27.7
Growth-justified Value
—
— MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Infra — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GAYAHWS
Small
Gayatri Highways Limited
Construction & Engineering
match 87
24
—
—
—
OVERVALUED
AVPINFRA
SME
AVP Infracon Ltd.
Construction & Engineering
match 81
70
4.1
27.7%
+83%
UNDERVALUED
HILINFRA
Small
Highway Infrastructure Limited
Construction & Engineering
match 78
51
12.1
18.8%
+36%
FAIR VALUE
CEIGALL
Small
Ceigall India Limited
Construction & Engineering
match 75
39
20.8
15.7%
+7%
WATCHLIST
HGINFRA
Micro
H.G. Infra Engineering Limited
Construction & Engineering
match 70
26
10.3
8.5%
-58%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Bharat Road Network Limited operates in Roads, within the Infra sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
52Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 10th percentile of the scored universe and 18th percentile within Infra. Main check: financial discipline is weak at 30/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
3 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
10th percentile
overall median 67 · Infra: 18th pctile, median 64 · Small: 12th pctile, median 66
Evidence depth
Financial-only
3 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
74
acceptable · profit to cash conversion
Balance sheet
35
weak · leverage and solvency
Discipline
30
weak · capital discipline
Results
31
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is 140.3%.
- ▸8 years of positive FCF.
Trust risks
- ▸Operating cash flow is negative at ₹-126 Cr.
- ▸Altman Z is 0.31.
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸Debt/equity is 1.08.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Bharat Road Network Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Aug
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Resignation of Managing Director 1 Aug - Managing Director Amitabh Kumar Jha resigned effective 31 July 2026 due to personal reasons.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Jun
Source: Bse
AnnouncementApr 2026
Apr 2026 · Announcement under Regulation 30 (LODR)-Demise 18 Apr - Chairman and Independent Director Prof. Santanu Ray died on 18 April 2026, ceasing committee roles immediately.
Source: Bse
AnnouncementApr 2026
Apr 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Feb - Newspaper Publication for unaudited financial results for quarter and nine months ended 31st December, 2025
Source: Bse
AnnouncementApr 2026
Apr 2026 · Closure of Trading Window 1 Apr - Trading window closed from 1 April 2026 until 48 hours after annual audited FY2025-26 results announcement.
Source: Bse
Announcement
Audited Financial Results For Financial Year Ended 31St March, 2026 2d - Board approved FY26 audited results; auditors issued qualified opinion citing unpaid interest and going-concern doubts.
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
Annual reportMar 2026
Mar 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - Newspaper Notification regarding completion of despatch of AGM Notice and Annual Report for the Financial Year ended 31st March, 2026
Source: Bse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.