Brainbees Solutions (FIRSTCRY) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated revenue rose to ₹64,808.56 million from ₹56,325.39 million; consolidated net loss narrowed to ₹3,215.07 million from ₹4,860.56 million.

• Standalone revenue fell to ₹21,632.10 million from ₹25,418.92 million, while standalone net loss narrowed to ₹621.94 million from ₹1,563.93 million.

Financial highlights

• Consolidated total income was ₹65,750.81 million versus ₹57,312.76 million; total expenses were ₹68,966.01 million versus ₹63,156.67 million.

• Consolidated loss before tax and exceptional items was ₹3,215.20 million, versus ₹5,843.91 million in FY23; FY23 included ₹543.68 million of exceptional income from fair-value changes in consideration payable to selling shareholders.

• Standalone total income was ₹22,664.58 million versus ₹26,406.19 million; total expenses were ₹23,498.64 million versus ₹28,215.20 million.

• Consolidated cash and cash equivalents rose to ₹3,616.96 million from ₹2,593.51 million; standalone cash and cash equivalents fell to ₹663.04 million from ₹1,117.88 million.

Outlook and guidance

• A fresh DRHP for a proposed BSE and NSE listing was filed on April 29, 2024, following withdrawal of the earlier draft after proposed offer-object changes.

• The proposed IPO includes a fresh issue of up to ₹1,816 crore and an offer for sale by eligible existing shareholders.

• The Managing Director was reappointed for five years, from April 1, 2024 to March 31, 2029, and appointed CEO effective December 1, 2023.