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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹11632 Cr.
Stock P/E
-43.9
P/B
2.4
Current Price
₹222.8
Book Value
₹ 92.6
Face Value
2
52W High
₹438.7
52W Low
₹ 207.1
Dividend Yield
0%

Brainbees Solutions Overview

Business

Brainbees Solutions Ltd., operating primarily under the brand FirstCry.com, is India's largest omnichannel platform for baby, kids, and maternity products. The company offers a wide range of products including apparel, footwear, toys, gear (strollers, car seats), nursery items, health & safety products, and personal care items for infants, toddlers, and expectant mothers. Its core business model involves selling these products directly to consumers through its e-commerce platform, mobile app, and a network of physical stores (both company-owned and franchised). The company makes money primarily through the sale of goods, including both third-party brands and its own private labels.

Revenue Mix

While specific revenue contribution percentages are not publicly disclosed, Brainbees Solutions Ltd.'s revenue streams are primarily derived from:

Online Retail: Sales through its e-commerce website (FirstCry.com) and mobile application. This forms the largest portion of its business.

Offline Retail: Sales through its extensive network of physical stores across India.

Private Labels: Sales of products under its own proprietary brands, which often offer higher margins.

Other Services: Potentially includes marketplace commissions for third-party sellers (if applicable) and advertising revenue.

Industry

Brainbees Solutions operates within the broader Indian e-commerce and retail sector, specifically targeting the baby, kids, and maternity product market. This industry is characterized by a mix of online specialized players, large horizontal e-commerce platforms (like Amazon India, Flipkart), and traditional brick-and-mortar stores. FirstCry holds a leading position as a specialized omnichannel retailer in this niche in India, known for its extensive product catalog, competitive pricing, and integrated online-to-offline experience. It differentiates itself by focusing solely on this specific demographic, offering a curated experience that general e-commerce players may not replicate.

MOAT

Brand Recognition: FirstCry has built strong brand awareness and trust among Indian parents and expectant mothers, making it a go-to destination for baby and kids products.

Omnichannel Presence: Its integrated online platform and vast network of physical stores provide convenience, product accessibility, and a seamless shopping experience, differentiating it from pure-play online or offline retailers. This also aids customer acquisition and retention.

Scale & Selection: As a market leader, FirstCry benefits from economies of scale in procurement, logistics, and marketing. It offers one of the widest selections of products in its category, attracting a broad customer base.

Data & Personalization: Accumulation of significant customer data allows for personalized recommendations and tailored marketing efforts, potentially increasing customer lifetime value.

Growth Drivers

Growing Indian Middle Class: Rising disposable incomes and increasing aspirations lead to higher spending on baby and kids products.

Increasing Digital Adoption: Continued growth in internet penetration, smartphone usage, and digital payments in India fuels e-commerce growth.

Urbanization & Nuclear Families: The trend towards nuclear families in urban areas often results in higher per-child spending.

Expansion into Tier 2/3 Cities: Untapped potential in smaller cities and towns, where FirstCry's omnichannel model can bridge gaps.

Growth of Private Labels: Expansion and success of its in-house brands can drive higher margins and capture more market share.

Premiumization Trend: Growing demand for premium and specialized baby products.

Risks

Intense Competition: Significant competition from large horizontal e-commerce players (Amazon, Flipkart) with deeper pockets, as well as new specialized entrants.

Profitability Challenges: Maintaining profitability in a competitive e-commerce landscape that often involves heavy discounts, high marketing spend, and logistics costs.

Inventory Management: Risks associated with managing a vast and diverse inventory, including obsolescence and demand fluctuations.

Supply Chain & Logistics: Operational complexities and costs associated with managing a pan-India supply chain, particularly for varied product types.

Regulatory Changes: Potential impact of evolving e-commerce and retail regulations in India.

Changing Consumer Preferences: The baby product market can be sensitive to fads and new safety standards, requiring constant product innovation and adaptation.

Management & Ownership

Brainbees Solutions Ltd. was founded by Supam Maheshwari, who serves as its CEO. The management team is generally considered experienced in the e-commerce and retail sectors. The company is backed by prominent institutional investors, including SoftBank, Premji Invest, Mahindra Retail, TPG, and NewQuest Capital Partners, indicating strong investor confidence. Prior to its anticipated IPO, ownership was concentrated among these institutional investors and the promoter group.

Outlook

FirstCry is well-positioned in a growing segment of the Indian retail market, driven by favorable demographics and increasing digital adoption. Its established brand, extensive product range, and omnichannel strategy provide a strong foundation for continued growth. The company has demonstrated success in building a leading specialized platform. However, the path to sustained profitability is critical given the intense competition from well-capitalized general e-commerce giants and the inherent costs of an omnichannel model. The ability to efficiently scale its operations, expand its private label portfolio, and maintain customer loyalty without excessive marketing spend will be key determinants of its long-term success amidst a highly competitive Indian e-commerce landscape.

Brainbees Solutions Share Price

Live · BSE / NSE · Inception: 2010
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Brainbees Solutions Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 1900 1667 1652 1905 2172 1930 1863 2099 2424 2163
Other Income 35 18 27 31 44 48 48 38 57 41
Total Income 1936 1685 1679 1936 2217 1979 1911 2137 2480 2203
Total Expenditure 1842 1634 1603 1848 2064 1914 1829 2037 2327 2093
Operating Profit 94 51 76 88 152 64 82 100 154 111
Interest 41 0 38 41 42 38 40 40 39 36
Depreciation 96 103 95 98 104 108 101 98 104 104
Exceptional Income / Expenses 0 0 -12 -1 0 -37 -6 -3 -16 -24
Profit Before Tax -43 -52 -70 -52 7 -118 -66 -41 -5 -53
Provision for Tax 6 -9 6 11 22 -6 0 9 33 -5
Profit After Tax -48 -43 -76 -63 -15 -112 -67 -51 -38 -48
Adjustments 17 -8 19 13 7 35 20 15 10 18
Profit After Adjustments -32 -52 -57 -50 -8 -77 -46 -35 -28 -30
Adjusted Earnings Per Share -0.8 -1.3 -1.4 -1 -0.2 -1.6 -1 -0.7 -0.6 -0.6

Brainbees Solutions Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 160 228 337 508 814 1603 2401 5633 6481 7660 8549
Other Income 13 12 18 27 83 137 116 99 94 150 184
Total Income 174 240 355 535 897 1740 2517 5731 6575 7810 8731
Total Expenditure 446 624 402 1450 1047 1561 2419 5950 6410 7430 8286
Operating Profit -272 -384 -47 -915 -150 179 97 -219 165 380 447
Interest 2 2 1 0 4 14 38 72 115 158 155
Depreciation 4 7 7 18 38 70 111 294 371 405 407
Exceptional Income / Expenses 0 0 0 0 0 0 0 54 0 -50 -49
Profit Before Tax -278 -393 -55 -933 -191 98 -51 -530 -322 -232 -165
Provision for Tax -0 0 -0 -1 -1 -118 28 -44 -0 33 37
Profit After Tax -278 -393 -55 -933 -191 216 -79 -486 -322 -265 -204
Adjustments 0 0 0 0 0 -1 7 45 47 73 63
Profit After Adjustments -278 -393 -55 -933 -191 215 -72 -441 -274 -191 -139
Adjusted Earnings Per Share -54.3 -125.3 -17.4 -38.4 -6.1 6 -1.8 -10.8 -6.7 -4 -2.9

Brainbees Solutions Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds -657 -1036 -1087 1527 2417 3437 3528 3456 3171 4741
Minority's Interest 0 0 0 0 0 98 760 743 621 539
Borrowings 788 1657 1655 0 0 10 51 55 229 210
Other Non-Current Liabilities 1 5 6 5 85 19 835 1497 1742 1144
Total Current Liabilities 60 70 91 146 256 392 922 1212 1603 2087
Total Liabilities 193 696 665 1678 2758 3955 6097 6964 7366 8722
Fixed Assets 16 361 356 351 383 669 2213 3533 3868 3609
Other Non-Current Assets 30 155 24 568 625 163 172 421 410 563
Total Current Assets 146 180 286 758 1750 3123 3712 3010 3087 4549
Total Assets 193 696 665 1678 2758 3955 6097 6964 7366 8722

Brainbees Solutions Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 6 6 9 104 177 383 405 259 362
Cash Flow from Operating Activities -160 -69 -70 -210 -300 -67 -132 -399 -42 -83
Cash Flow from Investing Activities 97 -501 82 -758 -660 -445 -491 304 63 -1438
Cash Flow from Financing Activities 69 570 -9 1063 1033 718 644 -51 81 1431
Net Cash Inflow / Outflow 6 -0 3 95 73 206 22 -146 102 -91
Closing Cash & Cash Equivalent 6 6 9 104 177 383 405 259 362 271

Brainbees Solutions Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -54.3 -125.26 -17.38 -38.38 -6.13 6.01 -1.77 -10.83 -6.73 -3.97
CEPS(Rs) 0 -123 -15.2 -37.64 -4.92 8.01 0.79 -4.71 1.21 2.9
DPS(Rs) 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) -129.69 -334.75 -351.96 61.48 75.78 93.34 83.95 73.26 61.88 84.17
Core EBITDA Margin(%) -177.81 -173.16 -19.33 -185.52 -28.56 2.43 -0.71 -5.54 1.06 2.94
EBIT Margin(%) -171.78 -171.19 -16.01 -183.72 -23.04 6.52 -0.53 -8 -3.11 -0.94
Pre Tax Margin(%) -173.31 -172.18 -16.25 -183.75 -23.52 5.71 -2 -9.25 -4.86 -2.97
PAT Margin (%) -173.26 -172.21 -16.18 -183.65 -23.44 12.53 -3.07 -8.48 -4.86 -3.38
Cash Profit Margin (%) -170.98 -169.09 -14.15 -180.08 -18.83 16.61 1.26 -3.35 0.75 1.79
ROA(%) -144.2 -88.49 -8.01 -79.59 -8.6 6.43 -1.57 -7.44 -4.49 -3.29
ROE(%) 0 0 0 -479.6 -9.91 7.58 -2.33 -15.19 -11.68 -8.05
ROCE(%) -194.04 -101.4 -9 -88.97 -9.51 3.83 -0.38 -12.65 -5.67 -1.65
Receivable days 81.44 46.37 30.93 28.37 27.99 22.98 25.25 14.11 12.22 11.68
Inventory Days 107.88 86.01 78.92 98.77 108.21 86.33 107.05 72.14 80.36 87.7
Payable days 89.87 79.63 80.24 87.01 81.82 82.81 96.08 58.75 72.15 69.81
PER(x) 0 0 0 0 0 0 0 0 0 0
Price/Book(x) 0 0 0 0 0 0 0 0 0 4.37
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 4.94 7.01 4.54 -0.77 -1.48 -1.4 -0.87 -0.16 -0.02 2.17
EV/Core EBITDA(x) -2.92 -4.17 -32.49 0.43 8.01 -12.52 -21.45 4.18 -0.74 43.63
Net Sales Growth(%) 0 42.37 47.66 50.61 60.33 96.86 49.81 134.56 15.06 18.19
EBIT Growth(%) 0 -41.88 86.19 -1628.49 79.9 159.92 -111.98 -3305.76 55.03 64.27
PAT Growth(%) 0 -41.51 86.13 -1609.65 79.54 213.15 -136.44 -517.72 33.85 17.64
EPS Growth(%) 0 -130.71 86.13 -120.89 84.03 198.14 -129.38 -512.75 37.82 41.06
Debt/Equity(x) -1.2 -1.58 -1.5 0 0 0.01 0.03 0.06 0.18 0.14
Current Ratio(x) 2.43 2.56 3.13 5.2 6.83 7.98 4.02 2.48 1.93 2.18
Quick Ratio(x) 1.64 1.71 2.19 3.9 5.68 6.64 2.96 1.42 0.91 1.16
Interest Cover(x) -112.08 -172.25 -66.53 -5780.63 -47.89 7.99 -0.36 -6.41 -1.79 -0.47
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0.03

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +18% +47% +57%
Operating Profit CAGR +130% +58%
PAT CAGR
Share Price CAGR -35%
ROE Average -8% -12% -6% -52%
ROCE Average -2% -7% -3% -42%

Brainbees Solutions Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 0 %
FII 3.52 %
DII (MF + Insurance) 23.61 %
Public (retail) 100 %
# Mar 2022 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 00000000
FII 08.789.337.656.744.933.883.52
DII 3.3217.0416.8618.2918.8721.2622.0323.61
Public 100100100100100100100100
Others 00000000
Total 100100100100100100100100

Brainbees Solutions Peer Comparison

e-Commerce Edit Columns

Brainbees Solutions Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Brainbees Solutions Pros & Cons

Pros

  • Debtor days have improved from 72.15 to 69.81days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 0%.
  • Company has a low return on equity of -12% over the last 3 years.
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