Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹235, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 22x in the Chemicals industry in India. Total returns to shareholders of 57% over the past three years. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Non- Executive Director Indru Advani was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹223, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 42% over the past three years. Recent Insider Transactions • Mar 20
Promoter Executive Chairman & MD recently bought ₹199k worth of stock On the 17th of March, Suresh Bhojwani bought around 1k shares on-market at roughly ₹199 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Suresh's only on-market trade for the last 12 months. Reported Earnings • Feb 12
Third quarter 2026 earnings released: ₹2.44 loss per share (vs ₹1.66 profit in 3Q 2025) Third quarter 2026 results: ₹2.44 loss per share (down from ₹1.66 profit in 3Q 2025). Revenue: ₹838.9m (up 6.0% from 3Q 2025). Net loss: ₹13.8m (down 246% from profit in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. New Risk • Jan 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 25% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (₹1.26b market cap, or US$13.8m). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹222, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 23x in the Chemicals industry in India. Total returns to shareholders of 38% over the past three years. New Risk • Nov 19
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 25% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹1.67b market cap, or US$18.9m). New Risk • Nov 14
New major risk - Revenue and earnings growth Earnings have declined by 25% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹1.72b market cap, or US$19.4m). Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: ₹3.54 (vs ₹5.70 in 2Q 2025) Second quarter 2026 results: EPS: ₹3.54 (down from ₹5.70 in 2Q 2025). Revenue: ₹1.00b (up 14% from 2Q 2025). Net income: ₹20.1m (down 38% from 2Q 2025). Profit margin: 2.0% (down from 3.7% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹377, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 27x in the Chemicals industry in India. Total returns to shareholders of 154% over the past three years. Upcoming Dividend • Aug 11
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 18 August 2025. Payment date: 24 September 2025. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.3%). In line with average of industry peers (0.7%). Reported Earnings • Jul 31
Full year 2025 earnings released: EPS: ₹14.95 (vs ₹8.39 loss in FY 2024) Full year 2025 results: EPS: ₹14.95 (up from ₹8.39 loss in FY 2024). Revenue: ₹3.36b (up 37% from FY 2024). Net income: ₹84.9m (up ₹132.6m from FY 2024). Profit margin: 2.5% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. New Risk • Jul 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings have declined by 22% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 9x cash flows per share). Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (₹2.05b market cap, or US$24.0m). Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹334, the stock trades at a trailing P/E ratio of 22.3x. Average trailing P/E is 26x in the Chemicals industry in India. Total returns to shareholders of 137% over the past three years. Reported Earnings • May 12
Full year 2025 earnings released: EPS: ₹14.95 (vs ₹8.39 loss in FY 2024) Full year 2025 results: EPS: ₹14.95 (up from ₹8.39 loss in FY 2024). Revenue: ₹3.38b (up 38% from FY 2024). Net income: ₹84.9m (up ₹132.6m from FY 2024). Profit margin: 2.5% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Duyuru • May 11
Bright Brothers Limited Recommends Final Dividend for Financial Year 2024-25 Bright Brothers Limited at the Board of Directors meeting held on May 10, 2025, recommended Final dividend of INR 2.50 for equity share of INR 10 each subject to approval by the members of the Company for financial year 2024-25. Duyuru • May 02
Bright Brothers Limited to Report Q4, 2025 Results on May 10, 2025 Bright Brothers Limited announced that they will report Q4, 2025 results at 9:15 AM, Indian Standard Time on May 10, 2025 Recent Insider Transactions • Feb 27
Chief Financial Officer recently bought ₹203k worth of stock On the 24th of February, Chirag Shah bought around 600 shares on-market at roughly ₹338 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Chirag has been a buyer over the last 12 months, purchasing a net total of ₹586k worth in shares. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹309, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 104% over the past three years. Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: ₹1.66 (vs ₹1.92 loss in 3Q 2024) Third quarter 2025 results: EPS: ₹1.66 (up from ₹1.92 loss in 3Q 2024). Revenue: ₹791.3m (up 42% from 3Q 2024). Net income: ₹9.45m (up ₹20.4m from 3Q 2024). Profit margin: 1.2% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 124 percentage points per year, which is a significant difference in performance. Duyuru • Feb 04
Bright Brothers Limited to Report Q3, 2025 Results on Feb 11, 2025 Bright Brothers Limited announced that they will report Q3, 2025 results on Feb 11, 2025 Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹377, the stock trades at a trailing P/E ratio of 48.7x. Average trailing P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹462, the stock trades at a trailing P/E ratio of 59.7x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 174% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹369, the stock trades at a trailing P/E ratio of 47.7x. Average trailing P/E is 33x in the Chemicals industry in India. Total returns to shareholders of 126% over the past three years. Recent Insider Transactions • Nov 29
Chief Financial Officer recently bought ₹187k worth of stock On the 21st of November, Chirag Shah bought around 600 shares on-market at roughly ₹312 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Chirag has been a buyer over the last 12 months, purchasing a net total of ₹203k worth in shares. New Risk • Nov 21
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings have declined by 21% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (₹1.77b market cap, or US$21.0m). Reported Earnings • Nov 18
Second quarter 2025 earnings released: EPS: ₹5.70 (vs ₹3.90 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹5.70 (up from ₹3.90 loss in 2Q 2024). Revenue: ₹882.2m (up 52% from 2Q 2024). Net income: ₹32.4m (up ₹54.5m from 2Q 2024). Profit margin: 3.7% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 136 percentage points per year, which is a significant difference in performance. Duyuru • Nov 08
Bright Brothers Limited to Report Q2, 2025 Results on Nov 14, 2024 Bright Brothers Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Declared Dividend • Sep 04
Dividend of ₹1.00 announced Dividend of ₹1.00 is the same as last year. Ex-date: 20th September 2024 Payment date: 27th October 2024 Dividend yield will be 0.3%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Duyuru • Sep 03
Bright Brothers Limited, Annual General Meeting, Sep 27, 2024 Bright Brothers Limited, Annual General Meeting, Sep 27, 2024, at 11:30 Indian Standard Time. Location: walchand hirachand hall, 4th floor, indian merchant chamber, building, imc marg, churchgate, mumbai-400020, mumbai India New Risk • Aug 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (₹1.49b market cap, or US$17.7m). Duyuru • Jul 30
Bright Brothers Limited to Report Q1, 2025 Results on Aug 06, 2024 Bright Brothers Limited announced that they will report Q1, 2025 results on Aug 06, 2024 New Risk • Jun 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹831.6m (US$9.95m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. Market cap is less than US$10m (₹831.6m market cap, or US$9.95m). New Risk • May 23
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹872.2m market cap, or US$10.5m). Reported Earnings • May 15
Full year 2024 earnings released: ₹8.39 loss per share (vs ₹6.66 loss in FY 2023) Full year 2024 results: ₹8.39 loss per share (further deteriorated from ₹6.66 loss in FY 2023). Revenue: ₹2.46b (up 19% from FY 2023). Net loss: ₹47.7m (loss widened 26% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Duyuru • May 08
Bright Brothers Limited to Report Q4, 2024 Results on May 13, 2024 Bright Brothers Limited announced that they will report Q4, 2024 results on May 13, 2024 Reported Earnings • Feb 04
Third quarter 2024 earnings released: ₹1.92 loss per share (vs ₹3.57 loss in 3Q 2023) Third quarter 2024 results: ₹1.92 loss per share (improved from ₹3.57 loss in 3Q 2023). Revenue: ₹561.5m (up 32% from 3Q 2023). Net loss: ₹10.9m (loss narrowed 46% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Duyuru • Jan 12
Bright Brothers Limited Announces Demise of T. S. Sethurathnam, Independent Director Bright Brothers Limited announced that Dr. T. S. Sethurathnam (DIN 00042704), Independent Director of the Company, left for heavenly abode yesterday, on account of brief illness. Dr. T. S. Sethurathnam was associated with the Company since 1991 and he has contributed immensely to the growth and business of the Company during his tenure. His passing away is an irreparable loss to the Company and all the Directors and employees of the Company convey deep sympathy, sorrow and condolences to his family. New Risk • Nov 15
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (₹970.8m market cap, or US$11.7m). Reported Earnings • Nov 11
Second quarter 2024 earnings released: ₹3.90 loss per share (vs ₹1.71 loss in 2Q 2023) Second quarter 2024 results: ₹3.90 loss per share (further deteriorated from ₹1.71 loss in 2Q 2023). Revenue: ₹581.7m (up 11% from 2Q 2023). Net loss: ₹22.1m (loss widened 127% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 01
Upcoming dividend of ₹1.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 08 September 2023. Payment date: 15 October 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.8%). Reported Earnings • Aug 10
First quarter 2024 earnings released: ₹2.18 loss per share (vs ₹0.56 profit in 1Q 2023) First quarter 2024 results: ₹2.18 loss per share (down from ₹0.56 profit in 1Q 2023). Revenue: ₹660.5m (up 2.4% from 1Q 2023). Net loss: ₹12.4m (down 487% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Duyuru • Aug 03
Bright Brothers Limited to Report Q1, 2024 Results on Aug 09, 2023 Bright Brothers Limited announced that they will report Q1, 2024 results on Aug 09, 2023 New Risk • Jun 12
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 0.1% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.1% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (₹909.7m market cap, or US$11.0m). Duyuru • May 25
Bright Brothers Limited Recommends Final Dividend for Financial Year 2022-23 Bright Brothers Limited at its board meeting held on 24 May 2023 considered and recommended Final dividend of INR 1/- for equity share of INR 10/- each subject to approval by the members of the Company for financial year 2022-23. Reported Earnings • May 25
Full year 2023 earnings released: ₹6.66 loss per share (vs ₹56.27 profit in FY 2022) Full year 2023 results: ₹6.66 loss per share (down from ₹56.27 profit in FY 2022). Revenue: ₹2.09b (down 9.4% from FY 2022). Net loss: ₹37.8m (down 112% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 17
Bright Brothers Limited to Report Fiscal Year 2023 Results on May 24, 2023 Bright Brothers Limited announced that they will report fiscal year 2023 results on May 24, 2023 Reported Earnings • Feb 15
Third quarter 2023 earnings released: ₹3.57 loss per share (vs ₹1.34 profit in 3Q 2022) Third quarter 2023 results: ₹3.57 loss per share (down from ₹1.34 profit in 3Q 2022). Revenue: ₹426.0m (down 24% from 3Q 2022). Net loss: ₹20.3m (down 366% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 07
Bright Brothers Limited to Report Q3, 2023 Results on Feb 13, 2023 Bright Brothers Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: ₹1.71 loss per share (vs ₹53.33 profit in 2Q 2022) Second quarter 2023 results: ₹1.71 loss per share (down from ₹53.33 profit in 2Q 2022). Revenue: ₹529.5m (down 14% from 2Q 2022). Net loss: ₹9.73m (down 103% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Second quarter 2023 earnings released: ₹1.71 loss per share (vs ₹53.33 profit in 2Q 2022) Second quarter 2023 results: ₹1.71 loss per share (down from ₹53.33 profit in 2Q 2022). Revenue: ₹529.5m (down 14% from 2Q 2022). Net loss: ₹9.73m (down 103% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 03
Bright Brothers Limited to Report Q2, 2023 Results on Nov 10, 2022 Bright Brothers Limited announced that they will report Q2, 2023 results on Nov 10, 2022 Upcoming Dividend • Aug 05
Upcoming dividend of ₹5.00 per share Eligible shareholders must have bought the stock before 12 August 2022. Payment date: 23 September 2022. Payout ratio is a comfortable 8.9% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Within top quartile of Indian dividend payers (1.7%). Higher than average of industry peers (0.7%). Duyuru • Aug 03
Bright Brothers Limited to Report Q1, 2023 Results on Aug 09, 2022 Bright Brothers Limited announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • Jul 30
Full year 2022 earnings released Full year 2022 results: Revenue: ₹2.30b (up 14% from FY 2021). Net income: ₹319.6m (up 460% from FY 2021). Profit margin: 14% (up from 2.8% in FY 2021). Duyuru • Jul 28
Bright Brothers Limited, Annual General Meeting, Aug 24, 2022 Bright Brothers Limited, Annual General Meeting, Aug 24, 2022, at 11:30 Indian Standard Time. Location: "Walchand Hirachand Hall", 4th Floor, Indian Merchant Chamber Building, IMC Marg, Churchgate, Mumbai India Agenda: To receive, consider and adopt the Audited Financial Statements for the year ended 31st March, 2022 together with the Report of the Board of Directors and the Auditor's Report thereon; to declare Dividend on equity shares for the financial year 2021-22; to appoint M/s. GMJ & Co., Chartered Accountants, (Firm Registration No. 103429W) as Statutory Auditors of the Company for a term of five years; and to consider other matters. Reported Earnings • Jun 02
Full year 2022 earnings released: EPS: ₹56.31 (vs ₹10.04 in FY 2021) Full year 2022 results: EPS: ₹56.31 (up from ₹10.04 in FY 2021). Revenue: ₹2.30b (up 14% from FY 2021). Net income: ₹319.6m (up 460% from FY 2021). Profit margin: 14% (up from 2.8% in FY 2021). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 09
Bright Brothers Limited Announces Demise of Mr. Kuchimanchi Purnachandra Rao, Non-Executive Director of the Company Bright Brothers Limited announced that Mr. Kuchimanchi Purnachandra Rao, Non-Executive Director of the Company left for heavenly abode on April 7, 2022. Duyuru • Apr 01
Bright Brothers Limited Announces Cessation of Mrs. Hira Bhojwani as Non-Executive Non-Independent Director Bright Brothers Limited announced that Mrs. Hira Bhojwani was appointed as Non-Executive Non-Independent Director of Company for a period of three years ending on March 31, 2022 by passing a special resolution at the Annual General Meeting. She has been in association with the Company as a Director since 18 April, l994. As her tenure of Directorship is concluding at the close of business hours on 31st March, 2022, she will cease to be a Director of the Company. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues in line with analyst expectations Third quarter 2022 results: Revenue: ₹562.0m (down 3.6% from 3Q 2021). Net income: ₹7.63m (down 64% from 3Q 2021). Profit margin: 1.4% (down from 3.6% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 12
Bright Brothers Limited Appoints Karan Bhojwani as Whole-Time Director, Effective April 1, 2022 Bright Brothers Limited announced that at its board meeting held on February 11, 2022, approved the appointment of Mr. Karan Bhojwani as Whole-time Director on the Board of the company Director on the Board of the company for a consecutive term of five years with effect from April 1, 2022. He is associated with the company since 2003. He joined the company as a Management Trainee in the Brite Consumer Division, then he was appointed as Manager - Brite Branded Products with effect from September 1, 2006. Duyuru • Feb 05
Bright Brothers Limited to Report Q3, 2022 Results on Feb 11, 2022 Bright Brothers Limited announced that they will report Q3, 2022 results on Feb 11, 2022 Recent Insider Transactions • Dec 10
Chief Financial Officer recently bought ₹85k worth of stock On the 7th of December, Chirag Shah bought around 500 shares on-market at roughly ₹171 per share. This was the largest purchase by an insider in the last 3 months. This was Chirag's only on-market trade for the last 12 months. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS ₹53.33 (vs ₹3.48 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹625.0m (up 25% from 2Q 2021). Net income: ₹302.7m (up ₹282.9m from 2Q 2021). Profit margin: 48% (up from 3.9% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 10
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 17 September 2021. Payment date: 27 October 2021. Trailing yield: 1.5%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.7%). Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment improved over the past week After last week's 15% share price gain to ₹169, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 128% over the past three years. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹145, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 94% over the past three years. Reported Earnings • Jul 31
First quarter 2022 earnings released: EPS ₹0.66 (vs ₹3.13 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹507.9m (up 205% from 1Q 2021). Net income: ₹3.75m (up ₹21.5m from 1Q 2021). Profit margin: 0.7% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 16% share price gain to ₹182, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 142% over the past three years. Reported Earnings • Jun 20
Full year 2021 earnings released: EPS ₹10.05 (vs ₹6.08 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹2.03b (down 6.8% from FY 2020). Net income: ₹57.1m (up 65% from FY 2020). Profit margin: 2.8% (up from 1.6% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improved over the past week After last week's 24% share price gain to ₹116, the stock trades at a trailing P/E ratio of 49.3x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improved over the past week After last week's 17% share price gain to ₹98.20, the stock trades at a trailing P/E ratio of 41.8x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 21% over the past three years. Is New 90 Day High Low • Mar 04
New 90-day high: ₹89.50 The company is up 33% from its price of ₹67.30 on 04 December 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 11% over the same period. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS ₹3.72 (vs ₹1.64 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹583.2m (up 14% from 3Q 2020). Net income: ₹21.1m (up 126% from 3Q 2020). Profit margin: 3.6% (up from 1.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 05
New 90-day high: ₹83.65 The company is up 39% from its price of ₹60.05 on 06 November 2020. The Indian market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 14% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: ₹82.50 The company is up 42% from its price of ₹58.05 on 08 October 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₹77.85 The company is up 26% from its price of ₹62.00 on 18 September 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: ₹67.85 The company is up 4.0% from its price of ₹64.95 on 02 September 2020. The Indian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. Duyuru • Nov 14
Bright Brothers Limited Appoints Anil Kumar Bhandari as Independent Director Bright Brothers Limited announced that at their Annual General Meeting held on November 12, 2020 have approved appointment of Mr. Anil Kumar Bhandari, holding Director Identification Number 00031194, as Independent Director of the Company for a period of five years. He joined the Managing Committee of Karnataka Planters & Association in 1979 and served the Indian Plantation Industry in various capacities since then. Mr. Bhandari was nominated to the Coffee Board of India by the Ministry of Commerce and has served as its Vice Chairman. Mr. Bhandari is the Chairman of the 5th World Coffee Conference. He is a keen Golfer and has served as Honorary Secretary and Captain of the Karnataka Golf Association Club. Reported Earnings • Oct 29
First half earnings released Over the last 12 months the company has reported total profits of ₹1.55m, down 97% from the prior year. Total revenue was ₹1.64b over the last 12 months, down 29% from the prior year. Duyuru • Sep 04
Bright Brothers Limited to Report Q1, 2021 Results on Sep 09, 2020 Bright Brothers Limited announced that they will report Q1, 2021 results on Sep 09, 2020 Duyuru • Jul 05
Bright Brothers Limited to Report Q4, 2020 Results on Jun 29, 2020 Bright Brothers Limited announced that they will report Q4, 2020 results on Jun 29, 2020 Duyuru • Jun 30
Bright Brothers Limited Not Recommends Dividend for Financial Year 2019-20 The Board of Directors of Bright Brothers Limited at its meeting held on has not recommended any further Dividend on equity shares for Financial Year 2019-20. The Interim Dividend INR 2 per Equity Shares of INR 10 declared and paid shall be considered as Final Dividend for the Financial Year 2019-20. 
