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Bharat Road Network Limited (BRNL) Fair Value & Analysis

Industrials · IN · Market cap ₹1.6B

BR Bharat Road Network Limited BRNL · NSE
Price₹18.75
Fair Value₹110.88
Upside+491.4%
Quality86/100
Evidence: Low Range ₹110.88 – ₹206.16

Fair value as of: Jun 29, 2026

From 23 valuation models · updated yesterday

Share price −9.1% over the past month.

Price vs Fair Value (12 months)

₹25.97 ₹17.17 Fair Value ₹110.88 Jul 2025 Jun 2026

12‑month range ₹17.17 – ₹25.97 · fair‑value band ₹110.88 – ₹206.16 · the ₹18.75 price screens below the ₹110.88 fair value. As of Jun 29, 2026.

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Analysis

Bharat Road Network Limited (BRNL) currently trades at ₹18.75, while our model-based Fair Value estimate is ₹110.88 — implying the stock looks roughly 491.4% undervalued today. We read business quality at 86/100 (high quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low) — always confirm before acting.

Over the trailing twelve months, Bharat Road Network Limited generated revenue of ₹1.5B at a net margin of -19.2%. Revenue grew 3.5% year over year. It earns a return on equity of -12.4%. Net debt stands at ₹2.3B. Fundamentals as of Jun 29, 2026

Key figures & financial health

Revenue (TTM) ₹1.5B
Revenue growth (YoY) +3.5%
Net margin -19.2%
Return on equity -12.4%
Free cash flow ₹247M FY2025
Operating margin -126%
More key figures
EPS (TTM) ₹-7.08
EPS growth (YoY) -84.7%
Net debt ₹2.3B FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 29, 2026. TTM = trailing twelve months.

About the company

Bharat Road Network Limited owns, designs, develops, builds, operates, and transfers road and related services in India. It is also involved in the project development and implementation; tolling operation and maintenance; highway management and development; claim and contracts management; and advisory and project management services, including construction supervision/debt syndication. The company was incorporated in 2006 and is based in Kolkata, India.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bharat Road Network Limited reported revenue of ₹2.7B in FY2025 versus ₹2.1B in FY2021, a compound +7.0%/yr. Reported net income was ₹1.4B in FY2025.

Revenue +7.0%/yr
FY21 ₹2.1B
FY22 ₹2.2B
FY23 ₹3.3B
FY24 ₹3.8B
FY25 ₹2.7B
Net income
FY21 −₹1.1B
FY22 −₹3.8B
FY23 −₹2.1B
FY24 −₹1.1B
FY25 ₹1.4B

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Frequently asked questions

Is Bharat Road Network Limited (BRNL) undervalued?
As of Jun 29, 2026, our model estimates a fair value of ₹110.88 versus a price of ₹18.75 — about +491% (undervalued). Model-based estimate, not financial advice.
What is the fair value of BRNL?
Our 21-model fair value for Bharat Road Network Limited is ₹110.88 (as of Jun 29, 2026), built from audited fundamentals. The current price is ₹18.75.
What is the quality score of BRNL?
Bharat Road Network Limited has a Quality Score of 86/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Bharat Road Network Limited (BRNL)?
Bharat Road Network Limited reported trailing-twelve-month revenue of about ₹1.5B (latest available figure, as of Jun 29, 2026).
What is the net profit margin of BRNL?
The net profit margin of Bharat Road Network Limited is about -19.2%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.