Brigade Enterprises (BSE:532929) - Share price, News & Analysis

532929 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	4/6
Past Performance	1/6
Financial Health	3/6
Dividends	3/6

532929 Stock Overview

Brigade Enterprises Limited provides real estate development, leasing, and hospitality and related services in India.

Rewards

Trading at 45.5% below our estimate of its fair value

Earnings are forecast to grow 47.09% per year

Became profitable this year

Risk Analysis

Interest payments are not well covered by earnings

Large one-off items impacting financial results

Shareholders have been diluted in the past year

Brigade Enterprises Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Brigade Enterprises
Historical stock prices
Current Share Price	₹436.55
52 Week High	₹554.25
52 Week Low	₹272.50
Beta	0.82
1 Month Change	-1.11%
3 Month Change	-15.30%
1 Year Change	52.24%
3 Year Change	152.49%
5 Year Change	152.58%
Change since IPO	65.40%

Shareholder Returns

	532929	IN Real Estate	IN Market
7D	-1.1%	0.8%	2.3%
1Y	52.2%	20.2%	-0.9%

Return vs Industry: 532929 exceeded the Indian Real Estate industry which returned 20.2% over the past year.

Return vs Market: 532929 exceeded the Indian Market which returned -0.9% over the past year.

Price Volatility

Is 532929's price volatile compared to industry and market?
532929 volatility
532929 Average Weekly Movement	4.4%
Real Estate Industry Average Movement	7.4%
Market Average Movement	6.9%
10% most volatile stocks in IN Market	9.9%
10% least volatile stocks in IN Market	4.5%

Stable Share Price: 532929 is less volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 532929's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1986	1,690	Mysore Jaishankar	https://www.brigadegroup.com

Brigade Enterprises Limited provides real estate development, leasing, and hospitality and related services in India. The company operates through three segments: Real Estate, Hospitality, and Leasing. The Real Estate segment develops and sells various residential and commercial properties.

Brigade Enterprises Fundamentals Summary

How do Brigade Enterprises's earnings and revenue compare to its market cap?
532929 fundamental statistics
Market Cap	₹100.59b
Earnings (TTM)	₹827.70m
Revenue (TTM)	₹29.99b

121.5x

P/E Ratio

3.4x

P/S Ratio

Is 532929 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
532929 income statement (TTM)
Revenue	₹29.99b
Cost of Revenue	₹16.15b
Gross Profit	₹13.84b
Other Expenses	₹13.01b
Earnings	₹827.70m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	3.59
Gross Margin	46.15%
Net Profit Margin	2.76%
Debt/Equity Ratio	167.9%

How did 532929 perform over the long term?

See historical performance and comparison

Dividends

0.3%

Current Dividend Yield

41%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is 532929 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 532929?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 532929. This is calculated by dividing 532929's market cap by their current preferred multiple.
What is 532929's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₹100.59b

532929 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4.5x
Enterprise Value/EBITDA	17.7x
PEG Ratio	2.6x

Price to Earnings Ratio vs Peers

How does 532929's PE Ratio compare to its peers?

532929 PE Ratio vs Peers

The above table shows the PE ratio for 532929 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	108.6x

Forward PE

Price-To-Earnings vs Peers: 532929 is expensive based on its Price-To-Earnings Ratio (121.5x) compared to the peer average (108.6x).

Price to Earnings Ratio vs Industry

How does 532929's PE Ratio compare vs other companies in the Indian Real Estate Industry?

Price-To-Earnings vs Industry: 532929 is expensive based on its Price-To-Earnings Ratio (121.5x) compared to the Indian Real Estate industry average (26.3x)

Price to Earnings Ratio vs Fair Ratio

What is 532929's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

532929 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	121.5x
Fair PE Ratio	52.3x

Price-To-Earnings vs Fair Ratio: 532929 is expensive based on its Price-To-Earnings Ratio (121.5x) compared to the estimated Fair Price-To-Earnings Ratio (52.3x).

Share Price vs Fair Value

What is the Fair Price of 532929 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 532929 (₹436.55) is trading below our estimate of fair value (₹800.69)

Significantly Below Fair Value: 532929 is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: 532929 is poor value based on its PEG Ratio (2.6x)

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Future Growth

How is Brigade Enterprises forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

47.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 532929's forecast earnings growth (47.1% per year) is above the savings rate (6.7%).

Earnings vs Market: 532929's earnings (47.1% per year) are forecast to grow faster than the Indian market (17.4% per year).

High Growth Earnings: 532929's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 532929's revenue (13.9% per year) is forecast to grow faster than the Indian market (11.5% per year).

High Growth Revenue: 532929's revenue (13.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 532929's Return on Equity is forecast to be low in 3 years time (15.8%).

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Past Performance

How has Brigade Enterprises performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-33.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 532929 has a large one-off loss of ₹566.6M impacting its March 31 2022 financial results.

Growing Profit Margin: 532929 became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: 532929's earnings have declined by 33.2% per year over the past 5 years.

Accelerating Growth: 532929 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: 532929 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Real Estate industry (34.1%).

Return on Equity

High ROE: 532929's Return on Equity (-2.3%) is considered low.

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Financial Health

How is Brigade Enterprises's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 532929's short term assets (₹85.2B) exceed its short term liabilities (₹75.9B).

Long Term Liabilities: 532929's short term assets (₹85.2B) exceed its long term liabilities (₹46.9B).

Debt to Equity History and Analysis

Debt Level: 532929's net debt to equity ratio (119.1%) is considered high.

Reducing Debt: 532929's debt to equity ratio has increased from 133.6% to 167.9% over the past 5 years.

Debt Coverage: 532929's debt is well covered by operating cash flow (21.4%).

Interest Coverage: 532929's interest payments on its debt are not well covered by EBIT (0.9x coverage).

Balance Sheet

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Dividend

What is Brigade Enterprises's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

0.34%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 532929's dividend (0.34%) isn’t notable compared to the bottom 25% of dividend payers in the Indian market (0.43%).

High Dividend: 532929's dividend (0.34%) is low compared to the top 25% of dividend payers in the Indian market (1.89%).

Stability and Growth of Payments

Stable Dividend: 532929's dividend payments have been volatile in the past 10 years.

Growing Dividend: 532929's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (40.9%), 532929's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (4.2%), 532929's dividend payments are thoroughly covered by cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average board tenure

CEO

Mysore Jaishankar (67 yo)

10.17yrs

Tenure

₹48,400,000

Compensation

Mr. Mysore Ramachandrasetty Jaishankar has been the Chairman and Managing Director of Brigade Enterprises Limited since April 01, 2012. Mr. Jaishankar has 21 years of experience in real estate industry. He...

CEO Compensation Analysis

Compensation vs Market: Mysore's total compensation ($USD618.37K) is above average for companies of similar size in the Indian market ($USD461.37K).

Compensation vs Earnings: Mysore's compensation has been consistent with company performance over the past year.

Board Members

Experienced Board: 532929's board of directors are considered experienced (4.1 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.2%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/25 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2022/03/31