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BSE: 544226 | NSE: FIRSTCRY | e-Commerce | Mid Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Brainbees Solutions Ltd is a below average quality company.
The key valuation ratios of Brainbees Solutions Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Brainbees Solutions Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -209.8% | -102.8% | -9% | -89% | -8.1% | 5.7% | 1.6% | -3.9% | -0.8% | - |
| Value Creation Index ⓘ | NA | NA | NA | -8.9 | -1.7 | -0.5 | -0.9 | -1.3 | -1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||||||
| Sales ⓘ | 160 | 228 | 337 | 508 | 806 | 1,309 | 1,752 | 2,542 | 2,163 | 2,163 |
| Sales YoY Gr. | - | 42.4% | 47.7% | 50.6% | 58.6% | 62.5% | 33.8% | 45.1% | -14.9% | - |
| Adj EPS ⓘ | -54.3 | -125.2 | -17.4 | -10.1 | -4.6 | 8 | 0.4 | -3.6 | -1.4 | -1.2 |
| YoY Gr. | - | NA | NA | NA | NA | NA | -94.6% | -939.5% | NA | - |
| BVPS (₹) ⓘ | -128.3 | -334.6 | -351.8 | 61.5 | 76.7 | 96.1 | 79.8 | 76.2 | 80.4 | 133 |
| Adj Net Profit ⓘ | -278 | -393 | -54.5 | -361 | -163 | 284 | 18.8 | -156 | -62.2 | -62 |
| Cash Flow from Ops. ⓘ | -160 | -68.7 | -70.5 | -210 | -282 | 19.3 | -151 | 225 | 16.3 | - |
| Debt/CF from Ops. ⓘ | -4.9 | -24.2 | -23.5 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 33.6% | 18.2% | -14.9% | ||||
| Adj EPS ⓘ | NA | NA | -155.9% | NA | ||||
| BVPSⓘ | NA | 5.5% | -5.8% | 5.5% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 42.3 | 46.5 | 5.1 | -164.1 | -8.2 | 9.5 | 0.5 | -4.3 | -1.6 | -1.1 |
| Op. Profit Mgn % ⓘ | -177.8 | -173.2 | -19.3 | -24.7 | -25.8 | 7.3 | 3.1 | -4.3 | 0.7 | 0.7 |
| Net Profit Mgn % ⓘ | -173.2 | -172.2 | -16.2 | -71.1 | -20.2 | 21.7 | 1.1 | -6.2 | -2.9 | -2.9 |
| Debt to Equity ⓘ | -1.2 | -1.6 | -1.5 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 318 | 239 | 378 | 437 | 240 | 195 | 169 | 253 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 82 | 57 | 78 | 89 | 64 | 86 | 82 | 129 | 0 |
Sales growth is growing at healthy rate in last 3 years 18.22%
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at 6.62%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -1.2 | -5.3 |
| TTM Sales (₹ Cr.) | 2,163 | 6,481 |
| BVPS (₹.) ⓘ | 133 | 110.9 |
| Reserves (₹ Cr.) ⓘ | 6,799 | 5,651 |
| P/BV ⓘ | 4.44 | 5.33 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 588.00 / 734.25 |
| All Time Low / High (₹) | 588.00 / 734.25 |
| Market Cap (₹ Cr.) | 30,647 |
| Equity (₹ Cr.) | 103.8 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 130.2 |
| Pledged * | 0.00 | 0.00 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 160 | 228 | 337 | 508 | 805 | 1,309 | 1,752 | 2,542 | 2,163 |
| Operating Expenses ⓘ | 446 | 624 | 402 | 1,450 | 1,013 | 1,214 | 1,699 | 2,652 | 2,148 |
| Manufacturing Costs | 13 | 13 | 15 | 25 | 40 | 38 | 53 | 48 | 48 |
| Material Costs | 154 | 203 | 268 | 394 | 657 | 831 | 1,121 | 1,757 | 1,408 |
| Employee Cost | 39 | 45 | 48 | 65 | 107 | 186 | 253 | 524 | 385 |
| Other Costs ⓘ | 240 | 362 | 72 | 967 | 210 | 159 | 271 | 323 | 306 |
| Operating Profit ⓘ | -285 | -395 | -65 | -942 | -208 | 95 | 54 | -110 | 15 |
| Operating Profit Margin (%) | -177.0% | -173.0% | -19.3% | -185.0% | -25.8% | 7.3% | 3.1% | -4.3% | 0.7% |
| Other Income ⓘ | 13 | 12 | 18 | 27 | 82 | 135 | 90 | 99 | 103 |
| Interest ⓘ | 2 | 2 | 1 | 0 | 3 | 12 | 23 | 40 | 52 |
| Depreciation ⓘ | 4 | 7 | 7 | 18 | 34 | 60 | 87 | 129 | 150 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -278 | -393 | -55 | -933 | -163 | 158 | 34 | -181 | -83 |
| Tax ⓘ | 0 | 0 | 0 | -1 | 0 | -126 | 15 | -25 | -21 |
| Profit After Tax | -278 | -393 | -55 | -933 | -163 | 284 | 19 | -156 | -62 |
| PAT Margin (%) | -173.0% | -172.0% | -16.2% | -183.0% | -20.2% | 21.7% | 1.1% | -6.2% | -2.9% |
| Adjusted EPS (₹) | -54.3 | -125.0 | -17.4 | -38.4 | -5.2 | 8.0 | 0.4 | -3.6 | -1.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | -657 | -1,051 | -1,105 | 1,501 | 2,394 | 3,440 | 3,462 | 3,307 | 3,608 | |
| Share Capital ⓘ | 0 | 6 | 6 | 56 | 69 | 78 | 94 | 94 | 97 | |
| Reserves ⓘ | -657 | -1,057 | -1,111 | 1,445 | 2,325 | 3,361 | 3,368 | 3,213 | 3,511 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Debt | 788 | 1,657 | 1,655 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Long Term Debt | 788 | 1,657 | 1,655 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 38 | 51 | 67 | 121 | 172 | 244 | 385 | 231 | 313 | |
| Others Liabilities ⓘ | 23 | 39 | 48 | 57 | 185 | 166 | 368 | 849 | 1,071 | |
| Total Liabilities ⓘ | 193 | 696 | 666 | 1,678 | 2,751 | 3,850 | 4,215 | 4,387 | 4,992 | |
Fixed Assets | ||||||||||
| Gross Block | 20 | 372 | 373 | 387 | 430 | 658 | 942 | 1,107 | 1,204 | |
| Accumulated Depreciation | 4 | 11 | 18 | 36 | 49 | 123 | 210 | 166 | 237 | |
| Net Fixed Assetsⓘ | 16 | 361 | 356 | 351 | 381 | 535 | 732 | 940 | 967 | |
| CWIP ⓘ | 0 | 1 | 0 | 7 | 23 | 7 | 21 | 14 | 0 | |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 50 | 315 | 1,011 | 1,472 | 1,942 | |
| Inventories | 47 | 60 | 86 | 189 | 285 | 432 | 770 | 432 | 481 | |
| Trade Receivables | 36 | 22 | 35 | 44 | 86 | 129 | 145 | 468 | 676 | |
| Cash Equivalents | 42 | 71 | 132 | 445 | 1,240 | 2,167 | 1,243 | 813 | 227 | |
| Others Assetsⓘ | 51 | 181 | 58 | 641 | 686 | 267 | 294 | 248 | 699 | |
| Total Assets ⓘ | 193 | 696 | 666 | 1,678 | 2,751 | 3,850 | 4,215 | 4,387 | 4,992 | |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -160 | -69 | -70 | -210 | -282 | 19 | -151 | 225 | 16 |
| PBT ⓘ | -278 | -393 | -55 | -933 | -163 | 158 | 34 | -181 | -83 |
| Adjustment ⓘ | -5 | 309 | -3 | 823 | -16 | 11 | 111 | 440 | 324 |
| Changes in Working Capital ⓘ | -34 | 15 | -12 | -101 | -100 | -152 | -287 | -27 | -221 |
| Tax Paid ⓘ | -1 | 0 | -1 | 1 | -2 | 3 | -9 | -7 | -3 |
| Cash Flow From Investing Activity ⓘ | 97 | -501 | 82 | -758 | -707 | -626 | 214 | -235 | -326 |
| Capex | -15 | -353 | -1 | -21 | -48 | -26 | -115 | -113 | -31 |
| Net Investments | 100 | 0 | 0 | -755 | -656 | -428 | 927 | 344 | 545 |
| Others ⓘ | 12 | -148 | 83 | 18 | -3 | -172 | -598 | -466 | -841 |
| Cash Flow From Financing Activityⓘ | 69 | 570 | -9 | 1,063 | 1,031 | 727 | -134 | -75 | 265 |
| Net Proceeds from Shares ⓘ | 63 | 583 | 0 | 1,065 | 1,056 | 799 | 14 | 0 | 3 |
| Net Proceeds from Borrowing ⓘ | 0 | -11 | -8 | -2 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -2 | -2 | -1 | 0 | 0 | 0 | 0 | 0 | -1 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 9 | 0 | 0 | 0 | -24 | -72 | -148 | -75 | 262 |
| Net Cash Flow ⓘ | 6 | 0 | 3 | 95 | 42 | 120 | -70 | -85 | -45 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | -479.52 | -8.39 | 9.76 | 0.55 | -4.63 | -1.8 | |
| ROCE (%) | N/A | N/A | N/A | -88.97 | -8.06 | 5.69 | 1.6 | -3.86 | -0.79 | |
| Asset Turnover Ratio | 0.83 | 0.51 | 0.5 | 0.43 | 0.36 | 0.43 | 0.47 | 0.59 | 0.46 | |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | 0.07 | -7.95 | N/A | N/A | Working Capital Days |
| Receivable Days | 81 | 46 | 31 | 28 | 29 | 27 | 26 | 44 | 96 | |
| Inventory Days | 108 | 86 | 79 | 99 | 107 | 91 | 115 | 86 | 77 | |
| Payable Days | 90 | 80 | 80 | 87 | 81 | 91 | 102 | 64 | 71 | |
The company was incorporated on May 17, 2010 as a private limited company under the Companies Act 1956, with the name “Brainbees Solutions Private Limited” at Pune, Maharashtra, India pursuant to a certificate of incorporation issued by the Registrar of Companies, Maharashtra at Pune (the “RoC”). Upon the conversion of the company to a public limited company pursuant to a resolution passed by its Board on August 31, 2023 and a special resolution passed by its Shareholders at the extra-ordinary general meeting on September 5, 2023, the name of the company was changed to “Brainbees Solutions Limited”. A fresh certificate of incorporation dated November 2, 2023 was issued by the RoC consequent to the company’s conversion into a public limited company.
Brainbees Solutions (Firstcry) is India’s largest multi-channel retailing platform for Mothers’, Babies’ and Kids’ products, with a growing presence in select international markets. In India, it sells Mothers’, Babies’ and Kids’ products through its online platform, company-owned modern stores, franchisee-owned modern stores and general trade retail distribution. It launched the FirstCry platform in India in 2010 with the goal to create a one-stop destination for parenting needs across commerce, content, community engagement, and education. It named its platform “FirstCry” because a baby’s first cry is a special moment for parents, and it aims to make such moments of the parenting journey filled with joy and happiness. It seeks to develop a tangible, emotional, multi-year relationship with parents, especially mothers, with whom its first engagement begins from their baby’s conception (i.e., nine months before birth) and can continue until their child reaches about 12 years of age. The company operates in a retail category with high purchase frequency, in which children outgrow clothing sizes quickly and need consumables such as diapers and other baby products along with other needs that evolve with age. Thus, once parents establish a connection with it, they are likely to start a predictable and frequent transactional journey of about twelve years as their children grow.
Across the company’s platform, it offers products from third-party Indian brands, global brands, and its home brands. It has have created trusted home brands in the Mothers’, Babies’ and Kids’ products categories through its deep insights and understanding of the requirements of its customers, robust data analytics tools, in-house design and development capabilities and by leveraging the market recognition of the “FirstCry” brand. As a reflection of FirstCry’s strong brand recognition and customer trust, BabyHug, one of FirstCry’s home brands, is the largest multi-category Mothers’, Babies’, and Kids’ products brand in India. Further, it leverages its management team’s experience in creating and scaling up its home brands to help D2C Indian and global brands scale their business in India across direct-to-customer channels and modern stores. These brands will benefit from its expertise in creating and scaling brands and leverage its multi-channel distribution network, sourcing capabilities, supply chain infrastructure, and integrated technology ecosystem.
Business area of the company
Brainbees Solutions, doing business as FirstCry.com, operates an online store for baby and kids products. The company retails diapers, wipes, changing pads and mats, breast feeding products, bibs, medicines, apparels, bath and skin care, gifts, thermometers, and school supplies.
Key awards, accreditations and recognitions
Major events and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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