BCONCEPTS
Brand Concepts financials
- Market cap
- ₹202 Cr
- Sector
- Consumer Services
- Calls analysed
- 6
Brand Concepts Limited Q1 FY27
What went well
- Revenue grew by almost 11% YoY.
- EBITDA growth was very good, supported by reduction in certain overheads and expenses.
- Company has not lost market share despite competitive pressures and new entrants.
What to watch
- PBT loss widened marginally due to continued pressure from higher depreciation, interest costs, and operating investments.
- Pricing pressures and new incumbent players, especially in travel wear, are impacting the market.
What Brand Concepts Limited does
Brand Concepts designs, manufactures and retails travel gear, luggage, backpacks, handbags, clutches, wallets and small leather goods under exclusive licenses for international brands including Tommy Hilfiger, United Colors of Benetton, Juicy Couture, Off-White and Aeropostale, alongside its own brands Sugarush and The Vertical. It has shifted from a bought-out/distribution model to in-house manufacturing, running a dedicated hard-luggage plant in Ujjain, Madhya Pradesh. Products reach customers through 800+ offline and online points of sale, including its own Bagline retail stores and Tommy Hilfiger Travel Gear outlets across 14 states, plus e-commerce platforms.
Segments
- Licensed international brands
- Own brands
- In-house manufacturing
- Retail (Bagline / THTG stores)
- Manufacturing plant
- 1 facility in Ujjain, Madhya Pradesh, spanning 8 acres
- Manufacturing capacity
- 3.5 lakh units/year (20,000–25,000 units/month)
- Retail stores
- 49 stores across 14 states (45 Bagline + 4 Tommy Hilfiger Travel Gear)
- Points of sale
- 800+ offline and online POS
- Warehouse
- 1,02,000 sq. ft., 12-meter clear height, ~43 lakh cu. ft. storage, scalable to 12 lakh units (currently ~6 lakh units)
- Employees
- 764
Guidance record · Q1 FY27
what the last two calls moved 22 tracked 3 delivered 5 missed 14 open- Hard Luggage Plant Production Start delivered said Q3 FY25 Promised: April 2025 Q1 FY27: Status carried forward. Promise was achieved in a prior quarter.
- Overall Revenue Growth went quiet said Q4 FY25 Promised: 20% plus for FY26 Q1 FY27: FY26 has concluded, but management did not report the final revenue growth figure for the year against the 20%+ target. This constitutes a ghosting of a key annual promise.
- PAT Margin at risk said Q4 FY25 Promised: 6% in three years Q1 FY27: The PBT loss has widened marginally in Q1 FY27, moving the company further away from its long-term profitability goal.
All 22 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 11.0%, net profit down 6.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 77 | 72 | 72 | 72 | 98 +26% | 88 +23% | 90 +25% | 80 +11% |
| EBITDA | 8 | 8 | 8 | 3 | 11 +33% | 7 −14% | 8 +7% | 4 +40% |
| Net profit | 3 | 1 | 2 | -3 | 2 −9% | 1 −26% | 1 −51% | -3 −7% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −43.0% 1Y
1Y: ₹274.85 on 10 Sept 2025 → ₹156.56. High ₹397.4 (24 Sept 2025), low ₹154.5 (10 Sept 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.1%
- 19 Aug
- Q3 FY26
- −3.1%
- 16 Feb
- Q2 FY26
- −1.9%
- 10 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 28.7% a year over 3 years, FY23 to FY26. Operating margin narrowed to 8.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹163 Cr | ₹259 Cr | ₹298 Cr | ₹348 Cr |
| Operating profit | ₹21 Cr | ₹28 Cr | ₹32 Cr | ₹29 Cr |
| Operating margin | 13.0% | 11.0% | 10.6% | 8.2% |
| Interest | ₹5 Cr | ₹6 Cr | ₹12 Cr | ₹16 Cr |
| Depreciation | ₹3 Cr | ₹6 Cr | ₹13 Cr | ₹13 Cr |
| Net profit | ₹10 Cr | ₹12 Cr | ₹7 Cr | ₹1 Cr |
| Net margin | 6.2% | 4.6% | 2.3% | 0.3% |
| Cash from operations | ₹12 Cr | ₹-3 Cr | ₹-3 Cr | ₹-12 Cr |
| Free cash flow | ₹3 Cr | ₹-22 Cr | ₹-31 Cr | ₹-31 Cr |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr |
| Reserves | ₹7 Cr | ₹8 Cr | ₹17 Cr | ₹54 Cr | ₹65 Cr | ₹71 Cr |
| Borrowings | ₹35 Cr | ₹32 Cr | ₹35 Cr | ₹80 Cr | ₹184 Cr | ₹182 Cr |
| Other liabilities | ₹23 Cr | ₹25 Cr | ₹32 Cr | ₹48 Cr | ₹66 Cr | ₹98 Cr |
| Total liabilities | ₹75 Cr | ₹76 Cr | ₹95 Cr | ₹194 Cr | ₹327 Cr | ₹362 Cr |
| Fixed assets | ₹7 Cr | ₹10 Cr | ₹15 Cr | ₹46 Cr | ₹93 Cr | ₹105 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹68 Cr | ₹66 Cr | ₹79 Cr | ₹148 Cr | ₹234 Cr | ₹257 Cr |
| Total assets | ₹75 Cr | ₹76 Cr | ₹95 Cr | ₹194 Cr | ₹327 Cr | ₹362 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +3.77 pp while the public trimmed −3.56 pp. The shareholder count shrank 11% to 10,646.
- Promoters
- 52.1%
- FIIs
- 0.0%
- DIIs
- 0.2%
- Public
- 47.6%
Since Jun 2025
- Promoters +3.77 pp
- Public −3.56 pp
- DIIs −0.25 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 51.2%, DIIs 1.2%, Public 47.6%.Dec '23: Promoters 48.8%, DIIs 2.5%, Public 48.7%.Mar '24: Promoters 48.7%, DIIs 2.5%, Public 48.8%.Jun '24: Promoters 48.7%, DIIs 2.1%, Public 49.2%.Sep '24: Promoters 48.3%, DIIs 1.9%, Public 49.8%.Dec '24: Promoters 48.3%, FIIs 0.0%, DIIs 1.4%, Public 50.3%.Mar '25: Promoters 48.3%, FIIs 0.1%, DIIs 1.3%, Public 50.2%.Jun '25: Promoters 48.3%, DIIs 0.5%, Public 51.2%.Sep '25: Promoters 52.4%, FIIs 0.0%, DIIs 0.2%, Public 47.4%.Dec '25: Promoters 52.1%, DIIs 0.2%, Public 47.6%.Mar '26: Promoters 52.1%, DIIs 0.2%, Public 47.6%.Jun '26: Promoters 52.1%, FIIs 0.0%, DIIs 0.2%, Public 47.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Prateek Maheshwari +13.01 pp 24.04% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Brand Concepts Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Prateek Maheshwari | 24.04% | +13.01 pp |
| Annapurna Maheshwari | 9.55% | unchanged |
| Abhinav Kumar | 8.06% | unchanged |
| Pradeep Maheshwari - 2 | 7.62% | unchanged |
| Pradeep Maheshwari | 6.77% | −13.01 pp |
| Sakshi Rathi Maheshwari | 4.14% | unchanged |
| Jatinder Agarwal | 3.61% | unchanged |
| Amar Kirti Ambani | 2.69% | unchanged |
| Laxmi Chandrakant Shah | 2.34% | unchanged |
| Suryavanshi Commotrade Private Limited | 1.44% | unchanged |
| Rahul Bhatia | 1.24% | unchanged |
| Sugandhi Jatinder Agarwal | 1.20% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Brand Concepts Limited
Guides on how to read this kind of business and the numbers that matter.