NSE: BRIGHTBR · BSE: 526731
BRIGHT BROTHERS LTD.
Manufactures plastic moulded parts as a single reporting segment, with FY26 consolidated revenue of ₹375.04 crore and standalone revenue of ₹350.18 crore. The standalone Indian business accounts for the bulk of the topline, while wholly-owned US subsidiary Bright Brothers LLC (Delaware) and step-down subsidiary Sintex Logistics LLC (Wisconsin) together contribute the balance. Consolidated revenue grew about 11.7% in FY26, helped by faster growth at the US subsidiaries, but consolidated net profit fell roughly 30% to ₹5.92 crore as those US units swung to losses. Raw materials are the dominant cost, absorbing 64.3% of revenue, followed by other operating expenses at 18.5% and employee cost at 10.2%. The company is BSE-listed under the Plastic Products – Industrial classification and operates with a modest 7.67% EBITDA margin. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Plastic moulded parts (single segment) (100%). Single-segment, materials-heavy plastic moulded parts manufacturer with a small US subsidiary footprint
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 207 | 245 | 336 | 375 |
| EBITDA (ex other income) | 1 | 9 | 29 | 25 |
| margin % | 0.4 | 3.8 | 8.5 | 6.8 |
| Owners' profit | (4) | (5) | 8 | 0 |
| EPS, as reported (₹) | (6.66) | (8.39) | 14.95 | 10.42 |
| ROE % · ROCE % | (5.2) · (3.5) | (7.0) · 1.8 | 11.1 · 17.9 | 7.3 · 13.7 |
| Debt / equity (x) | 0.22 | 0.32 | 0.47 | 0.59 |
| Cash from operations | 0 | 9 | 11 | 12 |
| Capex | (19) | (13) | (11) | (14) |
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 | 83 | 88 | 79 | 85 | 101 | 99 | 83 | 92 |
| Profit before tax | 3 | 4 | 2 | 2 | 3 | 3 | (1) | 2 |
| Net profit | 2 | 3 | 1 | 2 | 3 | 2 | (1) | 2 |
| EPS (₹) | 4.35 | 5.70 | 1.66 | 3.24 | 5.58 | 3.54 | 2.44 | 3.73 |
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. % |
|---|---|---|---|---|---|---|---|---|
| SUPREME INDUSTRIES LTD | 41,024 | 39.5 | 6.65 | 25.3 | 15.5 | 17.9 | 12.0 | 15.0 |
| ASTRAL LIMITED | 36,600 | 63.5 | 9.02 | 33.0 | 13.2 | 16.9 | 15.6 | 15.5 |
| GARWARE HI-TECH FILMS LTD | 16,621 | 42.9 | 6.26 | 33.0 | 12.7 | 16.4 | 16.5 | 30.3 |
| KINGFA SCI & TEC IND LTD. | 9,296 | 41.2 | 6.64 | — | 13.2 | 17.7 | — | 16.9 |
| FINOLEX INDUSTRIES LTD | 8,740 | 14.2 | 1.41 | 10.3 | 9.6 | 11.8 | 3.5 | 20.6 |
| TIME TECHNOPLAST LTD. | 8,001 | 15.7 | 1.92 | 9.0 | 11.4 | 14.0 | 15.2 | 13.3 |
| PRINCE PIPES FITTINGS LTD | 2,861 | 28.0 | 1.74 | — | 4.5 | 5.6 | — | 13.3 |
| APOLLO PIPES LIMITED | 2,122 | — | 2.38 | 28.1 | 0.5 | 1.0 | — | 1.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.2 | 14.4 | 22 of 46 | 51% |
| P/B | 1.5 | 1.6 | 21 of 42 | 51% |
| ROCE | 5.8 | 7.0 | 31 of 56 | 46% |
| ROE | 7.3 | 7.6 | 24 of 45 | 48% |
| Debt / Equity | 0.6 | 0.2 | 36 of 45 | 21% |
| EBITDA margin | 8.5 | 11.6 | 29 of 43 | 33% |
| Revenue growth | 7.2 | 10.6 | 29 of 49 | 42% |
| Profit growth | 15.4 | 20.7 | 27 of 47 | 44% |
| Market cap | 123 | 126 | 29 of 55 | 48% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board meeting set for October 30 to approve unaudited results | results | low | — | — |
| 7 Oct 2026 · Merger of wholly-owned subsidiary Bright Brothers LLC completed | strategic transactions | medium | — | — |
| 6 Oct 2026 · RTA certifies dematerialisation compliance for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 20 Sept 2026 · All resolutions passed at 79th AGM, dividend declared for FY26 | compliance | minimal | — | — |
| 18 Sept 2026 · Bright Brothers re-appoints Kuchimanchi Viswanath as Independent Director | management changes | medium | — | — |
| 18 Sept 2026 · Shareholders approve re-appointment of Karan Bhojwani as Whole-time Director | management changes | high | — | — |
| 18 Sept 2026 · Bright Brothers 79th AGM: dividend declared, director reappointments approved | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Notice of 79th AGM on September 18, 2026 | compliance | minimal | — | — |
| 25 Aug 2026 · Bright Brothers 79th AGM notice and FY26 annual report | board shareholder meetings | low | — | — |
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.