Brainbees Solutions Ltd.
FIRSTCRYConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
9 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (7 of 9 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| ANALYST_MEET | 20240906 | 2024-06-30 | yes | |
| ANALYST_MEET | 20241120 | 2024-09-30 | yes | |
| ANALYST_MEET | 20250214 | 2024-12-31 | yes | |
| ANALYST_MEET | 20250530 | 2025-03-31 | yes | |
| ANALYST_MEET | 20250819 | 2025-06-30 | yes | |
| ANALYST_MEET | 20251120 | 2025-09-30 | yes | |
| ANALYST_MEET | 20260220 | 2025-12-31 | yes | |
| ANALYST_MEET | 20260602 | 2026-03-31 | yes | |
| ANALYST_MEET | 20260820 | 2026-06-30 | yes |
FIRSTCRY
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 179.63 |
| 52-week range | 168.83 – 386.35 |
| Return 1M | -6.46% |
| Return 3M | -19.43% |
| Return 1Y | -53.51% |
| Return 3Y | not reported for this period |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 2,106.00 |
| Other income | 47.00 |
| Total income | 2,153.00 |
| Cost of materials consumed | 250.00 |
| Purchases of stock-in-trade | 1,161.00 |
| Changes in inventories | -74.00 |
| Employee benefit expense | 183.00 |
| Finance costs | 37.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | not disclosed | — |
| institutions foreign | 0.04 | 0.00 |
| institutions domestic | 0.23 | -0.01 |
| mutual funds | 0.15 | -0.00 |
| public | 0.93 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2026-06-30 | 9 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,652.00 | 1,905.00 | 2,172.00 | 1,930.00 | 1,863.00 | 2,099.00 | 2,424.00 | 2,163.00 | 2,106.00 |
| Other income | 27.00 | 31.00 | 44.00 | 48.00 | 48.00 | 38.00 | 57.00 | 41.00 | 47.00 |
| Total income | 1,679.00 | 1,936.00 | 2,217.00 | 1,979.00 | 1,911.00 | 2,137.00 | 2,480.00 | 2,203.00 | 2,153.00 |
| Cost of materials consumed | 137.00 | 179.00 | 193.00 | 223.00 | 209.00 | 258.00 | 202.00 | 118.00 | 250.00 |
| Purchases of stock-in-trade | 885.00 | 1,289.00 | 1,258.00 | 1,102.00 | 896.00 | 1,129.00 | 1,194.00 | 1,305.00 | 1,161.00 |
| Changes in inventories | 7.00 | -274.00 | -82.00 | -119.00 | 40.00 | -58.00 | 185.00 | -25.00 | -74.00 |
| Employee benefit expense | 157.00 | 165.00 | 177.00 | 229.00 | 203.00 | 203.00 | 197.00 | 190.00 | 183.00 |
| Finance costs | 38.00 | 41.00 | 42.00 | 38.00 | 40.00 | 40.00 | 39.00 | 36.00 | 37.00 |
| Depreciation and amortisation | 95.00 | 98.00 | 104.00 | 108.00 | 101.00 | 98.00 | 104.00 | 104.00 | 94.00 |
| Other expenses | 417.00 | 489.00 | 518.00 | 479.00 | 482.00 | 505.00 | 549.00 | 504.00 | 527.00 |
| Total expenses | 1,736.00 | 1,986.00 | 2,210.00 | 2,060.00 | 1,971.00 | 2,175.00 | 2,469.00 | 2,233.00 | 2,177.00 |
| Profit before exceptional items and tax | -58.00 | -51.00 | 6.00 | -81.00 | -60.00 | -38.00 | 11.00 | -30.00 | -24.00 |
| Exceptional items | -12.00 | -1.00 | 0.00 | -37.00 | -6.00 | -3.00 | -16.00 | -24.00 | -18.00 |
| Profit before tax | -70.00 | -52.00 | 7.00 | -118.00 | -66.00 | -41.00 | -5.00 | -53.00 | -43.00 |
| Current tax | 8.00 | 15.00 | 11.00 | 1.00 | 7.00 | 9.00 | 14.00 | 6.00 | 9.00 |
| Deferred tax | -2.00 | -3.00 | 10.00 | -7.00 | -7.00 | -0.00 | 19.00 | -12.00 | -8.00 |
| Tax expense | 6.00 | 11.00 | 22.00 | -6.00 | 0.00 | 9.00 | 33.00 | -5.00 | 1.00 |
| Profit for the period | -76.00 | -63.00 | -15.00 | -112.00 | -67.00 | -51.00 | -38.00 | -48.00 | -44.00 |
| Profit attributable to owners | -57.00 | -50.00 | -8.00 | -77.00 | -46.00 | -35.00 | -28.00 | -30.00 | -31.00 |
| Profit attributable to non-controlling interests | -19.00 | -13.00 | -7.00 | -35.00 | -20.00 | -15.00 | -10.00 | -18.00 | -13.00 |
| Other comprehensive income | 1.00 | -0.00 | 0.00 | 2.00 | -1.00 | 1.00 | 2.00 | -1.00 | -2.00 |
| Total comprehensive income | -75.00 | -63.00 | -15.00 | -110.00 | -68.00 | -50.00 | -36.00 | -49.00 | -46.00 |
| Earnings per share, basic | -1.28 | -1.09 | -0.16 | -1.60 | -0.96 | -0.73 | -0.59 | -0.63 | -0.64 |
| Earnings per share, diluted | -1.28 | -1.09 | -0.16 | -1.60 | -0.96 | -0.73 | -0.59 | -0.63 | -0.64 |
Annual results, as filed
| Line | 2025-03-31 | 2026-03-31 |
|---|---|---|
| Revenue from operations | 7,660.00 | 8,548.00 |
| Other income | 150.00 | 184.00 |
| Total income | 7,810.00 | 8,732.00 |
| Cost of materials consumed | 732.00 | 787.00 |
| Purchases of stock-in-trade | 4,535.00 | 4,524.00 |
| Changes in inventories | -468.00 | 141.00 |
| Employee benefit expense | 728.00 | 794.00 |
| Finance costs | 158.00 | 156.00 |
| Depreciation and amortisation | 405.00 | 407.00 |
| Other expenses | 1,903.00 | 2,040.00 |
| Total expenses | 7,993.00 | 8,848.00 |
| Profit before exceptional items and tax | -182.00 | -116.00 |
| Exceptional items | -50.00 | -50.00 |
| Profit before tax | -232.00 | -166.00 |
| Current tax | 35.00 | 37.00 |
| Deferred tax | -2.00 | 0.00 |
| Tax expense | 33.00 | 37.00 |
| Profit for the period | -265.00 | -204.00 |
| Profit attributable to owners | -191.00 | -140.00 |
| Profit attributable to non-controlling interests | -73.00 | -63.00 |
| Other comprehensive income | 2.00 | 0.00 |
| Total comprehensive income | -263.00 | -203.00 |
| Earnings per share, basic | -4.11 | -2.90 |
| Earnings per share, diluted | -4.11 | -2.90 |
Balance sheet, as filed
| Line | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|
| Total assets | 9,314.00 | 8,858.00 | 9,072.00 | 9,028.00 |
| Non-current assets | 5,043.00 | 4,326.00 | 5,007.00 | 4,468.00 |
| Current assets | 4,271.00 | 4,532.00 | 4,065.00 | 4,561.00 |
| Property, plant and equipment | 641.00 | 730.00 | 694.00 | 814.00 |
| Capital work-in-progress | 14.00 | 7.00 | 52.00 | 20.00 |
| Goodwill | 778.00 | 778.00 | 778.00 | 806.00 |
| Other intangible assets | 1,468.00 | 1,154.00 | 1,110.00 | 1,069.00 |
| Inventories | 1,941.00 | 2,130.00 | 2,143.00 | 1,994.00 |
| Trade receivables | 337.00 | 283.00 | 388.00 | 368.00 |
| Cash and cash equivalents | 368.00 | 271.00 | 430.00 | 246.00 |
| Total equity and liabilities | 9,314.00 | 8,858.00 | 9,072.00 | 9,028.00 |
| Equity | 5,317.00 | 5,280.00 | 5,277.00 | 5,355.00 |
| Equity share capital | 96.00 | 96.00 | 97.00 | 97.00 |
| Other equity | 4,633.00 | 4,645.00 | 4,670.00 | 4,730.00 |
| Total liabilities | 3,996.00 | 3,578.00 | 3,795.00 | 3,673.00 |
| Non-current liabilities | 2,079.00 | 1,508.00 | 1,571.00 | 1,544.00 |
| Current liabilities | 1,917.00 | 2,070.00 | 2,224.00 | 2,129.00 |
| Borrowings, non-current | 274.00 | 210.00 | 219.00 | 179.00 |
| Borrowings, current | 290.00 | 343.00 | 376.00 | 416.00 |
| Trade payables | 1,121.00 | 928.00 | 1,077.00 | 1,023.00 |
Cash flow, as filed
| Line | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|
| Net cash from operating activities | -232.00 | -83.00 | 127.00 | 365.00 |
| Net cash from investing activities | -1,352.00 | -1,438.00 | 149.00 | -108.00 |
| Net cash from financing activities | 1,591.00 | 1,431.00 | -117.00 | -282.00 |
| Purchase of property, plant and equipment | 50.00 | 203.00 | 76.00 | 186.00 |
| Net increase in cash | 6.00 | -91.00 | 159.00 | -25.00 |
| con:CFO.BEFORE_TAX | -214.00 | -51.00 | 151.00 | 430.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 18.00 | 33.00 | 25.00 | 65.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 137.00 | 158.00 | 30.00 | 40.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2024-08-13 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | — |
| Domestic institutions | 15.55 | 16.83 | 16.65 | 18.08 | 18.66 | 0.21 | 0.22 | 0.24 | 0.23 |
| Mutual funds | — | — | — | — | 10.84 | 0.14 | 0.14 | 0.15 | 0.15 |
| Insurance companies | 0.97 | 1.01 | 0.76 | 0.65 | 0.78 | 0.00 | 0.00 | 0.01 | 0.01 |
| Foreign institutions | 7.41 | 9.07 | 9.62 | 7.94 | 7.03 | 0.05 | 0.04 | 0.04 | 0.04 |
| Government | — | — | — | — | 0.00 | — | 0.00 | — | 0.00 |
| Public | 89.61 | 92.20 | 92.25 | 92.40 | 92.61 | 0.93 | 0.93 | 0.93 | 0.93 |
| Non-institutional | 66.64 | 66.30 | 65.97 | 66.38 | 66.92 | 0.66 | 0.67 | 0.66 | 0.67 |
| Shares outstanding | 519184169 | 519184169 | 519184169 | 521038555 | 521824829 | 521909906 | 522014159 | 522050127 | 522088240 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Brainbees Solutions Limited | Ultimate Holding Company | Advance, Any other transaction, Interest paid, Inter | 14,469,251,000.00 | 48 |
| Digital Age Retail Private Limited | Wholly Owned Subsidiary | Any other transaction, Interest paid, Interest recei | 9,681,919,000.00 | 30 |
| Globalbees Brands Private Limited | Subsidiary | Any other transaction, Interest paid, Interest recei | 2,472,810,000.00 | 79 |
| Firstcry Retail DWC - LLC | Step Down Subsidiary | Advance, Any other transaction, Loan, Purchase of go | 2,461,047,000.00 | 20 |
| Firstcry General Trading LLC | Subsidiary | Any other transaction, Purchase of goods or services | 2,105,477,000.00 | 5 |
| Swara Baby Products Private Limited | Step Down Subsidiary | Advance, Any other transaction, Interest received, L | 1,786,108,000.00 | 19 |
| Merhaki Foods and Nutrition Private Limited | Step Down Subsidiary | Any other transaction, Interest paid, Interest recei | 1,695,614,000.00 | 133 |
| Firstcry Management DWC LLC | Wholly Owned Subsidiary | Any other transaction, Investment | 1,147,899,000.00 | 3 |
| Frootle India Private Limited | Step Down Subsidiary | Any other transaction, Interest paid, Interest recei | 822,925,000.00 | 17 |
| Solis Hygiene Private Limited | Step Down Subsidiary | Any other transaction, Interest paid, Loan, Purchase | 676,143,000.00 | 8 |
| Merhaki Food and Nutrition Private Limited | Fellow Subsidiary | Any other transaction, Interest received, Loan, Purc | 437,058,000.00 | 7 |
| Supam Maheshwari | Key Management Personnel | Remuneration | 281,860,000.00 | 1 |
| Candes Technology Private Limited | Fellow Subsidiary | Any other transaction, Interest received, Loan, Purc | 273,130,000.00 | 13 |
| Cloud Lifestyle Private Limited | Fellow Subsidiary | Any other transaction, Interest received, Loan, Purc | 189,590,000.00 | 13 |
| HealthyHey Foods LLP | Fellow Subsidiary | Any other transaction, Interest received, Loan, Purc | 154,525,000.00 | 11 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-20 | Q1FY27 | Read the call | |
| 2026-06-02 | Q4FY26 | Read the call | |
| 2026-02-20 | Q3FY26 | Read the call | |
| 2025-11-20 | Q2FY26 | Read the call | |
| 2025-08-19 | Q1FY26 | Read the call | |
| 2025-05-30 | Q4FY25 | Read the call | |
| 2025-02-14 | Read the call | ||
| 2024-11-20 | H1FY25 | Read the call | |
| 2024-09-06 | Q1FY25 | Read the call |
What they said about it, quarter by quarter
| Topic | H1FY25 | Q1FY25 | Q1FY26 | Q1FY27 | Q2FY26 | Q3FY26 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | — | And it doesn't create a significant difference, especially on the Capex front, even if we slowed down a bit in terms of opening a store. | — | — | — | Firstly, can you talk about the unit economics for various types of offline stores, in terms of store sizes, capex, revenue, and profitability? | So, the entire technology stack that we have built is being used by dedicated partners that we have regional, local and we manage the first mile and t… |
| Capital allocation | — | — | The last acquisition that the company made was in September 2022. | We will very much be back on track by Q3. This growth is entirely organic as our last acquisition was in September 2022. | An important point I would like to highlight is that this entire growth is organic, and the last acquisition that we made was in September 2022. | All of this growth has been organic, the last acquisition that we made was in September 2022. | So, in Fiscal Year 2013, in the acquisition year, if a consumer gave us a GMV of 1x, over a period of 12 years, we end up generating almost 7.9x GMV f… | All of this growth that I'm mentioning is organic because the last acquisition that we made at GlobalBees was in September 2022. |
| Costs | — | — | — | Secondly, the impact on gross margins in our manufacturing business because of rupee depreciation and increase in crude linked raw material prices. | — | — | — | — |
| Debt and cash | — | — | Overall, our India multi-channel business continued to be PBT and Free Cash Flow positive in Q1FY26. | — | And we continue to remain, free cash flow positive as well for H1FY26. | We continue to remain PAT and free cash flow positive in India multichannel for the nine months FY26. For the International business, we witnessed ele… | And super happy to report that India Multi- Channel business turned PAT, as well as Free cash flow positive in FY25. We remain very, very optimistic a… | So, we will start with key highlights for Q4 and FY26. On the consolidated business, we are free cash flow positive for the full year. |
| Demand | — | Then we added distribution business where we distribute our home brands to general trade retail distribution where this is another demand pocket. | But at the same time, there has been a lot of demand that has been generated out of some of other players, which essentially led to a demand- supply g… | — | At a broad level, India Multi- Channel, despite deferring of consumer demand due to implementation of new generation GST reforms, we witnessed sequent… | Mr. Supam Maheshwari So Sachin, if you look back, last two quarters that we have talked about, third-party logistics is hugely dominated by, their dem… | — | — |
| Guidance | Mr. Tejpal Singh OK, so any guidance for the like in the 2-3 years how many schools we are going to operate or in the franchisee based model? | I just wanted to understand, so you know our losses have gone down by 30% year-on-year in this quarter, and this one of the management, if you have an… | Sucrit, while I can answer on this, and to save everybody's time, we can discuss this particular question offline, but I can just guide you. | This is a temporary and planned transition that should be complete in Q2 and therefore we expect the growth to bounce back starting Q3. If I assume th… | With this, we anticipate increase in footfall, as well as conversion. | Just my final question on the margin outlook for India business, if I can. | So we expect these numbers to further continue to improve over a period of time. | We are already crossing 20% of our overall online orders under our Qwik initiative and where we are able to deliver the customer in less than 3 hours … |
| Margin | Our consolidated Adjusted EBITDA has delivered around INR 80 Cr and this has been 66% increase over our last year Quarter 2. | We have delivered close to around 4.5% Adjusted EBITDA as a consolidated business which was around close to 2.6% for Q1 FY24 at a consolidated Adjuste… | We are very happy to report 25% growth in our adjusted EBITDA for the consol business for the first quarter, vis-a-vis, the Q1 FY25. Also at a consol … | Overall, India multi-channel business continues to be PAT positive for Q1 FY27. Now moving to international business, the revenue of international bus… | On the consolidated basis, we have been PBT positive, adjusted for ESOP cost in Q2 as well as H1’FY26. Also happy to report that Adjusted EBITDA incre… | Also, for the nine months, adjusted EBITDA has increased by 25% year-on-year basis and we continue to remain cash flow positive for nine month FY26. O… | Gross margin has continued to increase, with 159 bps year-on-year expansion to 23% absolute increase versus FY24. And adjusted EBITDA, adjusted for ES… | Revenue for FY26 has grown by 12% year-on-year and adjusted EBITDA has increased by 24% year-on-year for the full year. |
| Pricing | — | — | — | So, from that window, the real, I would say, disproportionate pricing kind of a strategy happens on the established brands where other e-commerce play… | You did touch upon depth, focusing on depth versus width, but if you could elaborate on this as to whether the initiatives would be towards focused as… | So is it going to be the assortment depth or it will be largely pricing led? | — | — |
| Revenue growth | GlobalBees, which is our D2C foray, has grown 55% and we will speak about it during the segmental performance as well, both the topline performance as… | Overall, we have been able to deliver growth at scale and significant improvement in our profitability. | India multi-channel adjusted EBITDA, which is the core business, it has delivered a growth of 12% over Q1FY25, largely driven by the expansion in the … | This is the strongest revenue growth in the last five years, that we have demonstrated on a consolidated basis and we have also demonstrated 34% impro… | In order to incentivize the customers, during this period, we increased our discounts on our platform, which has resulted in difference in GMV and rev… | And if I talk about adjusted EBITDA, at a nine months level, we saw growth of about 6% to 395 crores. | These are the three reasons, because of which GMV growth and order growth got moderated in Q4. Revenue growth for full year is 15%, and for the Q4 ove… | So, as Supam has mentioned, even in India multi-channel business, we have continued to see sequential improvement in revenue growth. |