B-Right RealEstate Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

B-Right RealEstate Ltd trades at ₹900, in a confirmed uptrend and 98 weeks into that stage. That is +24.7% against its own 200-day average. It sits at 95% of a 52-week range of ₹259 to ₹937. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 27 straight weeks.

Today the stock is in a confirmed uptrend — week 98 of stage 2, confirmed. At ₹900 it trades +24.7% versus its 200-day average and sits at 95% of its 52-week range (₹259–₹937).

Against the market, two honest reads. Cumulative: over the last 4.1 years the stock moved +478% while the NIFTY 500 moved +66% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 27 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

B-Right RealEstate Ltd trades at 26.9× P/E, near the bottom of its own range — cheaper only 5% of the time. Its long-run median P/E is 97.5×, measured across 4.1 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 26.9× is near the bottom of its own range — cheaper only 5% of the time, against a long-run median of 97.5× measured over 4.1 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +1,974.4% against a +159.4% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 3y, of the +72.6%/yr price move, ~+177.3%/yr came from earnings growth and ~−104.7 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

B-Right RealEstate Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 6 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

4-Factor Sector Score

No sector-relative score — B-Right RealEstate Ltd is not present in the sector comparison for Construction - Factories/Offices/Commercial.

The score is a rank WITHIN a peer set: every metric is scored by percentile against the other members. Without the peer set there is no score to state, so none is invented here.

Revenue Revenue is the top line: everything the company billed its customers in the period.

B-Right RealEstate Ltd reported ₹113 Cr of revenue in the Mar 26 quarter, +79.4% year on year. That is the 6th straight quarter of year-on-year growth. The last full year, FY26, came in at ₹168 Cr. The last four reported quarters add to ₹271 Cr.

FY26 revenue came in at ₹168 Cr (+63.1% on the year). The latest quarter (Mar 26) printed ₹113 Cr, +79.4% year on year — the 6th consecutive quarter of year-over-year growth.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

B-Right RealEstate Ltd's operating margin is 41.0% in the Mar 26 quarter, +30.0 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved +15.0 percentage points. Across 7 fiscal years the operating margin has ranged −13.0% to 64.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 41.0%, +30.0 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged −13.0%–64.0%.

Why the margin moved: operating margin went +15.0 pp year on year while gross margin went +15.4 pp — the gain came mostly from the gross line: input costs and pricing.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

B-Right RealEstate Ltd earned ₹33.0 Cr of net profit in the Mar 26 quarter, +725.0% year on year. Full-year FY26 profit was ₹46.0 Cr. The 6-year compound rate is 89.3%. That is 29.2% of the quarter's revenue. The same quarter a year earlier earned ₹3.0 Cr.

Mar 26 profit was ₹33.0 Cr, +725.0% year on year. On the full year, FY26 printed ₹46.0 Cr (+1,050.0%), and the 6-year compound rate is 89.3%.

Why profit moved: revenue contributed +79.4% and the margin +30.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +219.4% vs revenue +103.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −100% of B-Right RealEstate Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹10.0 Cr of operating cash against ₹46.0 Cr of profit. After ₹−10.0 Cr of capital spending, ₹20.0 Cr was left as free cash.

FY26: operating cash of ₹10.0 Cr against reported profit of ₹46.0 Cr, leaving free cash of ₹20.0 Cr after ₹−10.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −100% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at −100%: the cash cycle stretched 107 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 107 days — the next section's job is to find where the cash is stuck.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

B-Right RealEstate Ltd's cash conversion cycle runs 126 days in FY26, up from 19 days in FY21. Capital spending ran ₹−2.0 Cr over the last 3 years. At FY26 sales of ₹168 Cr each day of that cycle holds about ₹0.5 Cr, so roughly ₹58.0 Cr sits inside the business at any moment.

FY26: debtors at 126 days (an asset-light business — no inventory to speak of) — for a full cycle of 126 days, looser than FY21's 19.

In money terms: at FY26 sales of ₹168 Cr, each day of the cycle holds about ₹0.5 Cr — so the 126-day loop keeps roughly ₹58.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹−2.0 Cr over the last 3 fiscal years against ₹4.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

B-Right RealEstate Ltd earns a ROCE of 22% in FY26. That is up from a trough of 0% in FY21. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 27.4% net margin on 0.34× asset turns.

FY26 ROCE is 22%, recovered from a FY21 trough of 0% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 27.4% net margin × 0.34× asset turns × 2.79× balance-sheet leverage ≈ 26.0% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

B-Right RealEstate Ltd carries ₹187 Cr of borrowings against ₹176 Cr of equity in FY26, a debt-to-equity of 1.06. Operating profit covers the interest bill 9×. Over 5 years borrowings went from ₹26.0 Cr to ₹187 Cr. Capital spending ran ₹−2.0 Cr across the last 3 of those years.

FY26: borrowings of ₹187 Cr against equity of ₹176 Cr — a debt-to-equity of 1.06. Operating profit covers the interest bill 9×. Over 5 years borrowings went from ₹26.0 Cr to ₹187 Cr while capital spending ran ₹−2.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions added 1.4 points of B-Right RealEstate Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 1.4% of the company. Promoters moved +1.2 points over the same window, to 73.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: +1.4 points over 8 quarters to 1.4%; Promoters: +1.2 points over 8 quarters to 73.2%.

Why the register moved: foreign institutions drove it (+1.4 points), alongside promoters (+1.2 points) — steady accumulation by institutions reading the same numbers this page reads.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

B-Right RealEstate Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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