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Real estate developer Historical case study · data as of 24 Jul 2026 · published 28 Oct 2026 (96 days later)

Brigade Enterprises — 100-point case study

How Brigade Enterprises looked on 50 technical and 50 fundamental measures on 24 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: BRIGADE · BSE: 532929
Close on 24 Jul 2026	₹525.45
Market cap then	₹17,161 crore
Valuation	P/E 23.7× · P/B 2.52×
Momentum	RSI (14) 46 · 1-year return -34.0%
Next 3 months	+3.7% vs Nifty 50 -4.3% (to 26 Oct 2026)

Scorecard

Technical — 50 points

9 bullish · 23 neutral · 2 caution · 15 bearish — the picture leaned negative.

Fundamental — 50 points

4 bullish · 31 neutral · 5 caution · 9 bearish — the picture leaned negative.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Data note: Brigade issued 1:3 bonus shares (ex-date 17 Jun 2026). Prices before that date are bonus-adjusted by the data source, and per-share figures on Screener (EPS) are shown on the post-bonus share count.

Technical analysis — 50 points

Calculated by code from daily prices up to 24 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope +0.54%/day	Bullish	Over the last 20 sessions the regression line of closing prices was rising about 0.54% a day — a short-term uptrend. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return -10.7%	Neutral	The 100-session trend line was up (+0.03%/day) and the stock was -10.7% over three months, so the medium-term picture was neutral. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return -34.0%	Bearish	Compared with a year earlier the price was -34.0%. A weak year for the stock. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 524.21 / 30W 547.21	Neutral	On the weekly chart the stock showed a weekly close tangled between the 10-week and 30-week averages. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 595.95→578.00; lows 477.45→493.05	Neutral	The two most recent swing points showed a lower high but a higher low — mixed structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	24.3	Bearish	ADX at 24.3 shows a trend of moderate strength. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 23.0 / –DI 25.9	Bearish	–DI was above +DI: sellers had the upper hand in directional movement. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	536.16 (-2.0%)	Bearish	Close of 525.45 was 2.0% below the 20-day SMA — the short-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	520.23 (+1.0%)	Bullish	Close of 525.45 was 1.0% above the 50-day SMA — the medium-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	593.57 (-11.5%)	Bearish	Close of 525.45 was 11.5% below the 200-day SMA — the long-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 544.14 / 21E 540.01	Bullish	The 9-day EMA was above the 21-day EMA; the last crossover happened on 09 Jul 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	no cross in data window	Bearish	The 50-day average was 12.4% below the 200-day. No 50/200 crossover occurred in the data window. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	-3.1% in 20 sessions	Bearish	The 50-day average fell 3.1% over the past month — declining. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	536 / 520 / 528 / 594	Neutral	The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range. Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	535.25 (-1.8%)	Bearish	Anchored to the start of July, the volume-weighted average price was 535.25; the close was below it — buyers that month were on average under water. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	46.2	Neutral	RSI at 46.2 was in the neutral 45–55 zone. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	bearish divergence	Caution	Comparing the last 20 sessions with the 20 before: bearish divergence: price made a higher high but RSI made a lower high. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD 6.03 / signal 8.52	Bearish	MACD was below its signal line — momentum turning or staying negative. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	4.10 → -2.49	Bearish	The histogram fell over the last five sessions, meaning momentum was weakening. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	6.03	Bullish	MACD above zero means the 12-day EMA was above the 26-day EMA — a positive momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 44.0 / %D 60.7	Bearish	Slow stochastic at 44.0 was mid-range with %K below %D. Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-64.7	Neutral	%R of -64.7 put the close in the middle of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	-37	Neutral	CCI at -37 was within the normal ±100 band. Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	-8.6%	Bearish	Price changed -8.6% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B 0.40 (bands 482.35–589.96)	Neutral	%B of 0.40 — inside the bands, lower half. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 20.1% (54th pct of 6M)	Neutral	Band width was at the 54th percentile of the last six months, a normal level. How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹20.62 (3.9% of price)	Neutral	A typical day's range was about ₹20.62, or 3.9% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	52.0% vs 1Y 33.9%	Caution	Annualised 30-day volatility was 52.0%, well above the one-year level of 33.9%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	499.57–581.37	Neutral	The close was inside the channel, so no volatility breakout. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	1.32	Neutral	A beta of 1.32 means the stock tended to move more than the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 0.25× / 5-day 0.30×	Neutral	The final session traded 0.25× its 20-day average volume and the last five sessions averaged 0.30× — lighter than usual participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 2.47	Bullish	Average volume on up days was 2.47× that on down days — accumulation-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV rising	Bullish	OBV rose over the month while price rose — volume confirmed the price move. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	rising (20d)	Bullish	The A/D line rose, meaning closes tended to be in the upper part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	0.24	Bullish	CMF at +0.24 indicated net inflows. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	62.9	Bullish	MFI, a volume-weighted RSI, was 62.9. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹47 cr/day	Neutral	About ₹47 crore changed hands per day on average over 20 sessions — moderately liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	519.75 / 494.90 / 478.46	Neutral	Nearest support (prior swing lows) sat at 519.75, 1.1% below the close, then 494.90, 478.46. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	549.58 / 570.24 / 605.98	Neutral	Nearest resistance (prior swing highs) sat at 549.58, 4.6% above the close, then 570.24, 605.98. How to read: Information only.
40	Monthly pivot points (for next month)	P 533.27 \| R1 570.18 \| S1 488.53	Neutral	Classic pivots from July's high/low/close gave a pivot of 533.27; the close was below it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 492 \| 38.2% 517 \| 50.0% 537 \| 61.8% 558	Neutral	Measuring the 6-month fall from 623.85 to 450.75, the close was nearest the 38.2% retracement at 516.87. How to read: Information only.
42	52-week high / low	H 852.60 / L 450.75	Neutral	The close was 38.4% below the 52-week high and 16.6% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	1 open; latest gap-up 12 Jun at 489.34	Neutral	There was 1 unfilled gap(s). The latest, a gap-up on 12 Jun 2026, left an open level at 489.34 that price had not revisited. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	broad sideways range	Neutral	Rule-based pattern scan: broad sideways range. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 493.05–578.00	Neutral	The close was inside the prior 20-day range of 493.05–578.00. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Ordinary green candle	Neutral	On 24 Jul the candle opened 521.00, ranged 515.60–528.55 and closed 525.45: Ordinary green candle. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 536.70–544.73; Tenkan 545.80 / Kijun 535.52	Bearish	Price was below the cloud and the Tenkan line was above the Kijun line — a bearish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M -2.3% / 3M -9.1%	Bearish	The stock underperformed the Nifty 50 by 9.1 points over three months and underperformed by 2.3 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty 50 (6M)	6M -8.8%	Bearish	No sector index in today's data set, so we show the 6-month comparison instead: 8.8 points behind the Nifty 50. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	9 bullish · 15 bearish · 23 neutral · 2 caution	Bearish	Across the 49 readings the technical picture leaned negative. Levels that mattered: support 519.75, resistance 549.58. This is a description of the chart on 24 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 24 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Jun 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 24 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	23.7×	Neutral	At ₹525.45 the market valued the company at about ₹17,161 crore, or 23.7× the ₹725 crore profit of the four quarters to Mar 2026. That is a moderate multiple. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	2.52×	Neutral	Market cap was 2.52× the Mar 2026 book value (equity + reserves) of ₹6,821 crore. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Sales	3.01×	Neutral	The company was valued at 3.01× its trailing-12-month sales of ₹5,697 crore. How to read: Information only.
4	EV / EBITDA (approx.)	16.5×	Neutral	Enterprise value (market cap + ₹6,344 cr borrowings; cash not netted) was 16.5× trailing operating profit of ₹1,427 crore. How to read: Information only. Lower means cheaper relative to operating profit.
5	Earnings yield	4.2%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹4.2 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	0.49	Caution	P/E of 23.7 divided by 3-year profit growth of 48.4% a year gives a PEG of 0.49. Below 1 is often read as growth being cheaply priced; above 2 as expensive. Note: revenue jumped more than 40% in Mar 2024, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	0.36%	Neutral	Dividends with ex-dates in the 12 months to the snapshot totalled ₹1.875 a share, a 0.36% yield on the ₹525.45 price. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹17,161 cr	Neutral	At about ₹0.17 lakh crore the company was a small-cap. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	₹322.98 vs ₹525.45	Neutral	Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹322.98; the price was 63% above it. Quality franchises usually trade above this number. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	+12.3%	Bullish	Revenue for FY26 was ₹5,697 crore, +12.3% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	-0.1%	Bearish	The Jan–Mar 2026 quarter brought ₹1,458 crore of revenue, -0.1% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	+6.6%	Neutral	FY26 net profit was ₹725 crore, +6.6% on FY25's ₹680 crore. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	-23.3%	Bearish	Quarterly profit was ₹191 crore versus ₹249 crore a year earlier (-23.3%). Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	18.3%	Caution	Revenue compounded at 18.3% a year from FY23 to FY26. Note: revenue jumped more than 40% in Mar 2024, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	48.4%	Caution	Net profit compounded at 48.4% a year from FY23 to FY26. Note: revenue jumped more than 40% in Mar 2024, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	23.9%	Caution	Over five years (FY21–FY26) revenue compounded at 23.9% a year. Note: revenue jumped more than 40% in Mar 2024, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	-6.1%	Bearish	Reported EPS went from ₹21.05 to ₹19.76 (-6.1%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Operating margin FY26	25%	Neutral	Operating profit (EBITDA) was 25% of sales in FY26 versus 28% in FY25. How to read: Information only — normal margins differ a lot by industry.
19	Operating margin trend (4 quarters)	25% → 24% → 26% → 25%	Neutral	Quarterly margins moved from 25% to 25% over the last four quarters — broadly stable. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral when broadly stable.
20	Net profit margin FY26	12.7%	Neutral	₹12.7 of every ₹100 of revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	11.6%	Neutral	FY26 profit was 11.6% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	ROCE FY26	11%	Neutral	Return on capital employed (debt + equity) was 11% in FY26. Bullish above 20% · Bearish below 10% · Neutral 10–20%.
23	Return on assets FY26	2.77%	Neutral	Net profit was 2.77% of total assets. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	20%	Neutral	The company paid about 20% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Other income share of pre-tax profit	21%	Neutral	Non-operating 'other income' of ₹193 crore made up 21% of pre-tax profit. How to read: Caution above 25% (headline profit leans on non-core income). Neutral otherwise.

D. Balance sheet

#	Point	Reading	Tag	Commentary
26	Debt / equity	0.93	Neutral	Borrowings of ₹6,344 crore were 0.93× equity — moderate leverage. Bullish below 0.3 (very low leverage) · Bearish above 1 (high leverage) · Neutral 0.3–1.
27	Debt / EBITDA	4.43×	Bearish	Debt equalled 4.43 years of FY26 operating profit. Bullish below 1× · Bearish above 3× · Neutral 1–3×.
28	Interest coverage	3.2×	Neutral	Earnings before interest and tax covered interest cost 3.2 times. Bullish above 8× · Bearish below 3× · Neutral 3–8×, or not meaningful when interest is negligible.
29	Book value growth	+21.0%	Bullish	Shareholders' equity grew +21.0% from ₹5,638 crore to ₹6,821 crore in FY26. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.
30	Capital work in progress	₹222 cr (3% of fixed assets)	Neutral	Projects under construction (CWIP) were 3% of fixed assets — a modest pipeline. How to read: Information only. Above 20% means a big expansion pipeline that is not yet earning.
31	Working capital days	26 days	Neutral	Working capital tied up equalled 26 days of sales (FY25: -65). Negative means suppliers/customers fund operations. How to read: Information only. Lower is generally more efficient; negative means suppliers or customers fund the business.
32	Cash conversion cycle	4345 days	Neutral	It took 4345 days to turn inventory and receivables into cash, net of supplier credit. How to read: Information only. Shorter is generally better.
33	Debtor days	38 (FY25 45)	Neutral	Customers took 38 days on average to pay, versus 45 a year earlier. How to read: Caution when debtor days rose more than 20% in a year (collections stretching). Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹-137 cr	Bearish	The business generated ₹-137 crore of operating cash in FY26 versus ₹995 crore in FY25. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Free cash flow FY26	₹-1,871 cr	Bearish	After capital spending, free cash flow was ₹-1,871 crore. Bullish positive · Bearish negative · Neutral when not available.
36	Cash conversion (CFO ÷ net profit)	-0.19×	Caution	Operating cash flow was -0.19× reported profit — cash lagged profits; worth watching. Bullish above 1× (profits well backed by cash) · Caution below 0.7×. Neutral 0.7–1×.
37	Free-cash-flow yield	-10.9%	Neutral	FY26 free cash flow was -10.9% of the snapshot market cap. Bullish above 4% · Neutral at 4% or less.
38	Free cash flow — 3-year total	₹-1,447 cr	Bearish	Free cash flow over FY24–FY26 added up to ₹-1,447 crore. Bullish positive total · Bearish negative total · Neutral when not available.
39	Capex FY26 (CFO – FCF)	₹1,734 cr	Neutral	Implied capital expenditure was about ₹1,734 crore, 30.4% of sales. How to read: Information only.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	8%	Neutral	The company paid out about 8% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	10% / 9% / 8%	Bullish	Payout ratios for FY24 / FY25 / FY26 — dividends were paid every year. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+0.4%	Neutral	Paid-up equity capital changed +0.4% (₹244 cr → ₹245 cr). Essentially unchanged — no dilution. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	41.10% (-0.03 pts YoY)	Neutral	Promoters owned 41.10% at Jun 2026 versus 41.13% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	15.63% (-3.70 pts YoY)	Bearish	FIIs held 15.63% at Jun 2026, down from 19.33% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	25.46% (+2.02 pts YoY)	Bullish	Mutual funds, insurers and other DIIs held 25.46%, up from 23.44%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	1.6 lakh (+22.8% YoY)	Neutral	The shareholder count moved from 1.3 lakh to 1.6 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	3/8	Bearish	Passed: positive profit, leverage fell, no meaningful dilution (<3%). Failed: positive operating cash flow, CFO > net profit, operating margin improved, ROA improved, asset turnover improved. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	1 strength(s) · 3 weakness(es)	Neutral	Strengths: Company has delivered good profit growth of 89.0% CAGR over last 5 years. Weaknesses: Stock is trading at 2.64 times its book value; Company has a low return on equity of 12.5% over last 3 years; Company might be capitalizing the interest cost. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	4 bullish · 9 bearish · 31 neutral · 5 caution	Bearish	On the numbers published by 24 Jul 2026 the fundamental picture leaned negative. Valuation: P/E 23.7×, P/B 2.52×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 24 Apr 2026 – 24 Jul 2026 that an investor could have known on the snapshot date.

07 May 2026 Brigade reports FY26 results, recommends 1:3 bonus issue and Rs 2 dividend — For FY26 consolidated revenue from operations rose about 12% to Rs 5,697 crore and PAT to Rs 724.76 crore (profit attributable to owners fell to Rs 644 crore). Q4 FY26 revenue was flat at Rs 1,458 crore and PAT fell to Rs 190.7 crore from Rs 249.4 crore. The board recommended a 1:3 bonus and a final dividend of Rs 2 per share. source
08 Jun 2026 Brigade fixes June 17 as record date for 1:3 bonus issue — The company set June 17, 2026 as the record date to determine shareholders eligible for one bonus share for every three held. source
18 Jun 2026 Brigade allots 8.15 crore bonus shares — Brigade allotted 81,540,595 bonus equity shares of Rs 10 each in the 1:3 issue, raising paid-up equity capital from about Rs 244.6 crore to Rs 326.2 crore. source
15 Jul 2026 Board approves Rs 180 crore promoter warrant issue and Rs 1,500 crore NCD plan — The board approved up to 34.23 lakh convertible warrants at Rs 526 each to promoter-group firm Mysore Holdings (about Rs 180 crore) and authorised raising up to Rs 1,500 crore through non-convertible debentures, subject to shareholder approval at the August 13 AGM. source
17 Jul 2026 Brigade withdraws proposed promoter warrant issue — Two days after approving it, the board withdrew the Rs 180 crore preferential warrant issue to Mysore Holdings, reportedly after institutional investor feedback. The Rs 1,500 crore NCD plan was unaffected. source

What happened next (24 Jul 2026 → 26 Oct 2026)

Price went from ₹525.45 to ₹545.15 by 26 Oct 2026 (+3.7%) while the Nifty 50 moved -4.3% — outperforming by 8.0 points.
Highest ₹735.00 on 04 Sep 2026; lowest ₹526.15 on 27 Jul 2026.
S1 519.75: held on a closing basis.
S2 494.90: held on a closing basis.
R1 549.58: cleared on a closing basis on 28 Jul 2026.
R2 570.24: cleared on a closing basis on 31 Jul 2026.
200-day SMA: price was below it at the snapshot and crossed above on 10 Aug 2026.
Apr–Jun 2026 results (reported 13 Aug 2026): revenue ₹1,116 crore (-12.9% YoY), net profit ₹217 crore (+37.3% YoY), operating margin 32% vs 25% a year earlier (Screener consolidated figures).

Later news

29 Jul 2026 Brigade adds 2-acre Kanakapura Road project in South Bengaluru — Brigade disclosed a 2-acre residential development on Kanakapura Road, Bengaluru with an estimated gross development value of about Rs 400 crore. source
13 Aug 2026 Q1 FY27 net profit rises 37% to Rs 217 crore — Consolidated net profit rose to Rs 216.94 crore from Rs 157.95 crore a year earlier, while total income fell to Rs 1,179 crore. Average residential realisation rose 21% to Rs 14,256 per sq ft. source
15 Aug 2026 Q1 sales bookings fall 5% to Rs 1,061 crore — Pre-sales for April-June 2026 were Rs 1,061 crore versus Rs 1,118 crore a year earlier; volume fell 22% to 0.74 million sq ft, partly offset by higher realisations. source
26 Aug 2026 Brigade leases 1.62 lakh sq ft to HealthEdge, keeps Rs 9,000 crore FY27 pre-sales target — Brigade leased 1.62 lakh sq ft at Brigade Square, Thiruvananthapuram to HealthEdge (lease reported Aug 20), lifting occupancy to 81%, and announced investor meetings on September 1; it maintains a Rs 9,000 crore FY27 pre-sales target. source

Educational summary. On 24 Jul 2026 the technical picture leaned negative and the fundamental picture leaned negative. Over the next three months the stock moved +3.7% against -4.3% for the Nifty 50. Here the chart's message did not line up neatly with what followed — a reminder that indicators describe the past, not the future. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Brigade Enterprises today.

Method designed by our founder, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 28 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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