NSE: BCONCEPTS · BSE: 543442
BRAND CONCEPTS LIMITED
Brand Concepts distributes and retails premium international fashion and travel-accessory brands in India. It is the licensed Indian partner for six global brands — Tommy Hilfiger, United Colors of Benetton, Juicy Couture, Superdry, Off-White and Aeropostale — selling them through branded stores, airport travel-retail outlets and e-commerce. Alongside the licensed portfolio, it runs its own "Bagline" chain of more than 50 stores selling luggage, bags and travel accessories, with a new outlet opened at Mumbai's Chhatrapati Shivaji Maharaj International Airport Terminal 2 in July 2026. A new manufacturing facility at Ujjain became operational in July 2025, supporting own-brand and private-label production. In FY26 the business reported revenue of Rs. 348.07 crore, but the cost book is dominated by other operating expenses (33.3% of revenue) and employee costs (14.3%), with materials at 13.6%, leaving net profit margin at 0.3%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Licensed international brand distribution, Bagline retail chain, Travel retail at airports, E-commerce, Own-brand manufacturing. Asset-light specialty retail and licensed brand distribution, with new own-brand manufacturing integration and travel-retail exposure.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 86 | 163 | 251 | 273 | 348 |
| EBITDA (ex other income) | 8 | 21 | 28 | 29 | 28 |
| margin % | 9.0 | 13.2 | 11.0 | 10.7 | 8.0 |
| Owners' profit | 1 | 0 | 0 | 7 | 1 |
| EPS, as reported (₹) | 0.54 | 9.36 | 10.00 | 5.89 | 0.87 |
| ROE % · ROCE % | 3.5 · 19.6 | 35.4 · 45.2 | 19.5 · 29.3 | 9.3 · 15.1 | 1.3 · 11.6 |
| Debt / equity (x) | 1.77 | 0.92 | 0.76 | 1.24 | 1.64 |
| Cash from operations | 14 | 14 | (8) | (5) | (12) |
| Capex | (1) | (5) | (16) | (27) | (19) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 71 | 67 | 66 | 72 | 98 | 88 | 90 | 80 |
| Profit before tax | 3 | 2 | 1 | (3) | 3 | 1 | 0 | (3) |
| Net profit | 2 | 2 | 1 | (3) | 2 | 1 | 1 | (3) |
| EPS (₹) | 1.52 | 1.59 | 1.16 | (2.19) | 1.88 | 0.51 | 0.71 | (2.27) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TRENT LTD | 1,54,511 | 63.0 | 21.74 | 41.1 | 24.2 | 26.2 | 50.6 | 20.1 |
| LENSKART SOLUTIONS LTD | 1,19,913 | 180.1 | 13.55 | 62.3 | 5.7 | 5.8 | — | 24.2 |
| VEDANT FASHIONS LIMITED | 11,751 | 29.1 | 7.69 | 16.1 | 8.5 | 8.4 | — | 52.7 |
| ADITYA BIRLA LIFES BRAN L | 8,818 | 49.8 | 6.24 | 6.9 | 12.1 | 5.0 | — | 16.0 |
| ADITYA VISION LIMITED | 7,243 | 52.0 | 10.52 | — | 17.0 | 17.4 | — | 10.6 |
| V2 RETAIL LIMITED | 5,667 | 3.6 | 6.28 | 12.0 | 18.0 | 14.2 | 41.6 | 14.1 |
| ADITYA BIRLA FASHION & RT | 4,870 | — | 0.78 | 7.0 | (13.3) | (7.1) | 9.3 | 8.5 |
| ARVIND FASHIONS LIMITED | 4,855 | 40.5 | 4.18 | 7.4 | 15.8 | 12.9 | 19.1 | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 169.9 | 26.0 | 18 of 19 | 6% |
| P/B | 2.1 | 3.9 | 6 of 14 | 62% |
| ROCE | 0.5 | 10.0 | 17 of 20 | 16% |
| ROE | 1.3 | 11.7 | 12 of 14 | 15% |
| Debt / Equity | 1.6 | 0.1 | 14 of 14 | 0% |
| EBITDA margin | 6.8 | 15.7 | 13 of 14 | 8% |
| Revenue growth | 11.0 | 16.6 | 12 of 16 | 27% |
| Profit growth | (4.3) | 20.6 | 9 of 13 | 33% |
| Market cap | 176 | 724 | 14 of 20 | 32% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Analyst and Institutional Investor meeting set for 16 October 2026 | board shareholder meetings | low | — | — |
| 8 Oct 2026 · Filing of Regulation 74(5) compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · COO Mr. Nabendu Chakraborty resigns from Brand Concepts | management changes | high | — | — |
| 1 Oct 2026 · COO of Brand Concepts resigns effective Sept 30, 2026 | management changes | high | — | — |
| 25 Sept 2026 · Brand Concepts opens new OFF-WHITE store at Quest Mall Kolkata | business updates | medium | — | — |
| 24 Sept 2026 · AGM 2026: All 7 resolutions passed, borrowing limit raised to Rs 150 Cr | compliance | low | — | — |
| 24 Sept 2026 · Brand Concepts Limited 19th AGM proceedings on September 24 2026 | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · Trading window closed for Q2 and H1 FY27 till results announcement | compliance | minimal | — | — |
| 21 Sept 2026 · Schedule of investor meeting with Arihant Capital on 30 September 2026 | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Brand Concepts opens new OFF-WHITE store at DLF Promenade, New Delhi | business updates | medium | — | — |
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.