BSE: 530809
BNR UDYOG LTD.
Operates as a small services company reporting two segments: Financial Activities (financial advisory services) and Business Support Services. For FY26 (year ended March 2026), revenue from operations stood at Rs. 133.84 lakhs, down about 14% from Rs. 155.10 lakhs in FY25. The Business Support Services segment generated Rs. 119.72 lakhs in FY26, up from Rs. 40.23 lakhs in FY25, while Financial Activities revenue fell sharply to Rs. 48.10 lakhs from Rs. 126.42 lakhs previously. Total income for FY26 was Rs. 167.82 lakhs, marginally above the Rs. 166.65 lakhs reported in FY25. Both segments have been loss-making through most of FY26, and the company posted a net loss of Rs. 53.47 lakhs for the year versus Rs. 54.84 lakhs loss in FY25. The cost structure is dominated by employee costs (57.4% of revenue) and other operating expenses (120.7% of revenue), with total expenses of Rs. 251.35 lakhs in FY26 well exceeding total income. The company is registered in Hyderabad, listed on BSE under the SME framework with paid-up equity capital of Rs. 3 crore and net worth of Rs. 9.09 crore as of March 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Business Support Services, Financial Activities / Financial Advisory Services. Small, loss-making services company in financial advisory and business support
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 4 | 3 | 2 | 1 |
| EBITDA (ex other income) | 1 | 1 | 1 | (1) | (1) |
| margin % | 36.8 | 35.1 | 31.7 | (64.2) | (78.1) |
| Owners' profit | 1 | 1 | 4 | (1) | (1) |
| EPS, as reported (₹) | 2.12 | 3.59 | 14.36 | (1.83) | (1.78) |
| ROE % · ROCE % | 13.8 · 15.9 | 18.6 · 23.0 | 42.1 · 49.1 | (5.7) · (10.3) | (5.9) · (9.2) |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (0) | (2) | (1) | (3) | 1 |
| Capex | (0) | (0) | (0) | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 0 | 1 | (0) | 1 | 0 | 1 | 0 |
| Profit before tax | 0 | 0 | 0 | (1) | 0 | (0) | (0) | (1) |
| Net profit | 0 | 0 | 0 | (0) | 0 | (0) | (0) | (0) |
| EPS (₹) | 0.64 | 0.24 | 0.60 | (1.22) | 0.92 | (0.26) | (0.81) | (1.63) |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Business Support Services | 1 | 71.3 |
| Financial Activities/Others | 0 | 23.0 |
| Financial Activities/ Others | 0 | 7.9 |
| Total, before eliminations | 2 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| FIRSTSOURCE SOLU. LTD. | 18,735 | 27.7 | 4.27 | 13.9 | 15.4 | 14.5 | 13.5 | 14.2 |
| ECLERX SERVICES LTD | 16,917 | 15.6 | 6.60 | 14.1 | 27.6 | 31.3 | 21.4 | 24.6 |
| RPSG VENTURES LIMITED | 2,845 | — | 0.65 | 5.8 | 0.0 | 1.6 | 15.1 | 19.0 |
| ONE POINT ONE SOL LTD | 2,098 | 46.6 | 4.54 | 24.8 | 8.3 | 7.0 | — | 24.9 |
| HINDUJA GLOBAL SOLS. LTD. | 1,647 | — | 0.20 | 3.7 | 0.1 | (0.8) | (5.1) | 11.1 |
| ALLDIGI TECH LIMITED | 1,200 | 14.0 | 4.78 | 6.8 | 32.8 | 23.4 | 16.7 | 29.5 |
| NSB BPO Solutions Limited | 120 | 8.0 | — | — | — | 6.0 | — | — |
| WE WIN LIMITED | 51 | 18.5 | 1.65 | 8.2 | 14.3 | 10.0 | — | 6.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 1.3 | 1.7 | 3 of 9 | 75% |
| ROCE | (9.2) | 7.0 | 11 of 11 | 0% |
| ROE | (5.9) | 8.3 | 9 of 9 | 0% |
| Debt / Equity | 0.0 | 0.1 | 1 of 9 | 75% |
| EBITDA margin | (871.1) | 19.0 | 9 of 9 | 0% |
| Profit growth | (34.0) | 0.8 | 8 of 9 | 13% |
| Market cap | 12 | 1180 | 11 of 11 | 0% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Quarterly compliance filing for demat securities details | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 FY26 results | compliance | minimal | — | — |
| 13 Aug 2026 · BNR Udyog Q1 FY27 profit jumps to Rs 58.80 lakh on fair value gains | results | high | — | — |
| 13 Aug 2026 · BNR Udyog Q1 FY27 PAT at 58.80 lakhs vs 27.63 YoY | results | high | — | — |
| 4 Aug 2026 · BNR Udyog board meeting set for 13 Aug 2026 to approve Q1 results | results | low | — | — |
| 16 Jul 2026 · 32nd AGM: All 3 resolutions passed with over 99.99% approval | board shareholder meetings | low | — | — |
| 16 Jul 2026 · BNR Udyog 32nd AGM: all 3 resolutions passed with 99.99 percent majority | board shareholder meetings | low | — | — |
| 7 Jul 2026 · Quarterly compliance on dematerialisation of securities filed with BSE | compliance | minimal | — | — |
| 7 Jul 2026 · Share Capital Reconciliation Report for Q1 FY27 | compliance | minimal | — | — |
| 25 Jun 2026 · Trading window closed from July 1 ahead of Q1 FY27 results | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.