| Scrip Code | 540700 |
|---|---|
| NSE Symbol | BRNL |
| MSEI Symbol | NOTLISTED |
| ISIN | INE727S01012 |
| Name of company | BHARAT ROAD NETWORK LIMITED |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 13-02-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 04-02-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Third quarter |
| Nature of report standalone or consolidated | Consolidated |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Single segment |
| Description of single segment | The company is primarily engaged in single business segment of purchase, own, build, develop, design, transfer of Road and related services, hence segment reporting is not applicable |
| Start date and time of board meeting | 13-02-2026 16:15:00 |
| End date and time of board meeting | 13-02-2026 19:15:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Not applicable |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | 4,204.84 | 10,539.82 | |
| Other income | 802.12 | 7,936.44 | |
| Total income | 5,006.96 | 18,476.26 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 0.00 | 0.00 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 0.00 | 0.00 |
| (d) | Employee benefit expense | 120.83 | 380.18 |
| (e) | Finance costs | 0.03 | 0.09 |
| (f) | Depreciation, depletion and amortisation expense | 1,738.43 | 4,356.85 |
| (f) | Other Expenses | ||
| 1 | Other Expences | 653.28 | 8,639.05 |
| Total other expenses | 653.28 | 8,639.05 | |
| Total expenses | 2,512.57 | 13,376.17 | |
| 3 | Total profit before exceptional items and tax | 2,494.39 | 5,100.09 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 2,494.39 | 5,100.09 |
| 6 | Tax expense | ||
| 7 | Current tax | 23.32 | 72.68 |
| 8 | Deferred tax | (50.48) | (45.63) |
| 9 | Total tax expenses | (27.16) | 27.05 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | 2,521.55 | 5,073.04 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | 2,521.55 | 5,073.04 |
| 17 | Other comprehensive income net of taxes | 3.44 | 3.57 |
| 18 | Total Comprehensive Income for the period | 2,524.99 | 5,076.61 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | 1,841.17 | 3,339.41 | |
| Total profit or loss, attributable to non-controlling interests | 680.38 | 1,733.63 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 1,843.85 | 3,342.22 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 681.14 | 1,734.39 | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 8,395.00 | 8,395.00 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | 3 | 6.04 | |
| Diluted earnings (loss) per share from continuing operations | 3 | 6.04 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | 3 | 6.04 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 3 | 6.04 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | Notes:- 1) The above standalone financial results for the quarter and nine months ended December 31, 2025 and consolidated financial results for the quarter and Nine months ended December 31, 2025 were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on February 13, 2026. Limited Review of these Financial Results for the quarter and Nine months ended December 31, 2025 as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been carried out by the Statutory Auditors of the Company. 2) The Company is primarily engaged in a single business segment of purchase, own, build, develop, design, operate, transfer road and related services. Hence, segment reporting is not applicable. 3) Other Income includes (loss)/gain on account of Investments mandatorily measured at Fair Value Through Profit and Loss (FVTPL). 4) The Company had received an amount of Rs.7,000 lakhs from IL&FS group-IL & FS Financial Services Ltd. (IL & FS) in the FY 2016-17. The Company also has a receivable of Rs 11,419 lakhs from IL & FS group -IL & FS Transportation Networks Limited (ITNL). Pursuant to the directions passed by Hon’ble National Company Law Appellate Tribunal, at New Delhi for restructuring the IL&FS group, all the entities belonging to the group are treated as a single entity and not restructured separately. Further IL &FS has filed an application before the Hon'ble NCLT, Mumbai seeking direction and relief for mutual discharge of dues and payables among various entities. The matter is subjudice. 5) The Company has availed financial assistance from a financial institution ( a subsidiary of Corporate promoter of the Company) amounting to Rs. 11,357.73 lakhs and the same was repayable on March 31, 2025. Total interest accrued in books of accounts amounts to Rs. 12,015.55 lakhs till June 30, 2024. Interest amounting to Rs. 6,142.30 lakhs have not been provided from July 01, 2024 onwards. Company has defaulted in repayment of principal and interest due on March 31, 2025. Partial repaymnet of Rs. 8,000 lakhs has been done in the month of December 2025 by the Company. The Company is currently in discussions for the potential restructuring / resolution of this financial support. The Company is hopeful of a positive outcome in this regard. Considering these, interest has not been recognised from July 01, 2024 onwards and repayments have been put on hold. The accounts have been prepared on Going Concern Basis, keeping in view the positive net worth of the Company as at December 31, 2025 and expected realisation from its financial assets and potential restructuring / resolution of the above. 6) The Subsidiary Company, Guruvayoor Infrastructure Pvt. Ltd. (GIPL) has availed financial assistance from one of the financial institution and is currently in discussion with them regarding the potential restructuring of this financial support. GIPL is hopeful of a positive outcome in this regard. Considering this development, interest amounting to Rs 1,834.17 Lakhs has not been provided from October 01,2024 onwards . 7) In case of Subsidiary Company, Guruvayoor Infrastructure Pvt. Ltd. (GIPL), Claims & Counter claims are being pursued before the Arbitral Tribunal both by GIPL & National Highway Authority of India (NHAI) which is still pending adjudication. 8) The Officers of the Directorate of Enforcement (ED) conducted search proceedings u/s 17(1) of the Prevention of Money Laundering Act,2002 (PMLA) at the Office Premises of the Subsidiary, Guruvayoor Infrastructure Pvt. Ltd (GIPL) . This was pursuant to the CBI Investigation and FIR being filed alleging criminal conspiracy leading to unlawful gain of Rs. 10,244 Lakhs. Subsequently, CBI has filled chargesheet on March 27 ,2024, wherein the alleged undue gain has been quantified at around Rs. 2,447 Lakhs. The ED has passed an order against GIPL, to freeze the movable properties (including Bank balance and fixed deposits) to the tune of Rs. 12,521.42 lakhs. GIPL has preferred an Appeal against the said order of The Adjudicating Authority before the Hon'ble Appellate Tribunal (PMLA). Concurrently, ED has also filed a prosecution complaint before the Hon’ble Additional Special Sessions Court , at Ernakulam. The matter is sub-judice. 9) In case of Solapur Tollways Private Limited (STPL), pursuant to initiation of CIRP, vide NCLT-Kolkata Order dated December 20, 2024, the Company ceases control over STPL. 10) The Subsidiary Company, Orissa Steel Expressway Pvt.Ltd (OSEPL) , has settled the Claim with National Highway Authority of India (NHAI) under Vivad se Vishwas scheme and received claim from NHAI amounting to Rs. 39,167 lakhs. 11) Kurukshetra Expressway Private Limited (KEPL), an associate of the Company has been awarded Rs. 86,087 lakhs by Arbitral Tribunal towards the Losses including termination payment (net of counter claims) vide order dated August 16, 2024 . National Highway Authority of India ,( NHAI) has challenged the award before Hon'ble Delhi High Court and the matter is subjudice. 12) Mahakaleshwar Tollways Pvt Ltd. (MTPL) an associate of the Company , pursuing claims of Rs. 214,916 lakhs including Termination payment and other damages had filed Arbitration Petition before the Madhya Pradesh Arbitration Tribunal – Bhopal on October 30, 2021 under Madhya Pradesh Madhyastham Adhikaran Adhiniyam, 1983 . The matter is subjudice. 13) The figures for the corresponding previous period have been regrouped/ reclassified wherever necessary, to make them comparable. |
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| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | |||||
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Consolidated | Consolidated | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| Total Segment Revenue | |||||||
| Less: Inter segment revenue | |||||||
| Revenue from operations | |||||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| Total Profit before tax | |||||||
| i. Finance cost | |||||||
| ii. Other Unallocable Expenditure net off Unallocable income | |||||||
| Profit before tax | |||||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| Total Segment Asset | |||||||
| Un-allocable Assets | null | null | |||||
| Net Segment Asset | null | null | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| Total Segment Liabilities | |||||||
| Un-allocable Liabilities | null | null | |||||
| Net Segment Liabilities | null | null | |||||
| Disclosure of notes on segments | |||||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Remeasurement of defined plans | 3.60 | 3.78 |
| Total Amount of items that will not be reclassified to profit and loss | 3.60 | 3.78 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 0.16 | 0.21 |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | ||
| 5 | Total Other comprehensive income | 3.44 | 3.57 |