Brisk Technovision Limited

Technology — Information Technology Services · BSE

₹76.80₹0.00 (0.00%)

DalalBaazaar Score

52 / 100

🟡 Moderate

Verdict

NEUTRAL

Risk

Moderate

Driven by negative free cash flow, micro-cap size, which brings thin liquidity.

In simple words: Strong business and financial position, but sales are shrinking. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:01 pm

Understanding the Business

Company site ↗

The 60-second version of Brisk Technovision Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Brisk Technovision Limited engages in IT infrastructure and cybersecurity services in India.

IndustryInformation Technology Services

SectorTechnology

Employees113

Annual revenue₹30 Cr

How does it make money?

Turns over ₹30 Cr a year. Of every ₹100 of sales, about ₹3 reaches shareholders as profit, with ₹6 left at the operating level before interest, tax and depreciation. Each of its 113 employees supports ₹26.6 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹26.6 lakh

Who are its competitors?

The closest listed comparisons in its industry are TATA CONSULTANCY SERV LT, INFOSYS LIMITED, HCL TECHNOLOGIES LTD, WIPRO LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Some evidence

ROCE of 18.4% is above what capital typically costs, which suggests some pricing power, though not yet the sustained, wide gap that marks a durable advantage.

Peer median ROE32.0%

What has been driving growth?

Sales and margins have both contributed to where profit is now. Over 3 years revenue moved +64% while net margin moved -66% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+64%

Margin effect-66%

DalalBaazaar Score

52/ 100

Moderate

Weighted across six categories. Every point is explained below.

• ROE of 13.9% is moderate
✗ ROE has fallen by 25.1 points over the period

Quality vs. Valuation

Company Quality

49/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

65/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

15.1x

3Y Median

15.1x

35 monthly readings · mean 15.1x · range 9.9x–21.8x

Sector Median

16.5x

median of 4 sector peers

🟡Currently trading close to its 3y median of 15.1x — the market is paying about what it usually pays for this company.

🟡Against its sector it is priced broadly in line with the peer median of 16.5x.

vs. its own history

Fair

15.1x median over 35 months · +0%

vs. sector peers

Fair

16.5x median of 4 peers · -9%

vs. generic bands

Fair

15x–35x

EV/EBITDA

6.4x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Very low debt
Debt/Equity of 0.11x leaves the balance sheet with plenty of headroom.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention2

Return on equity is falling
ROE has dropped from 38.6% to 13.6% — each rupee of shareholder capital earns less than it did.
Return on capital is falling
ROCE has declined from 51.7% to 18.4% — often a sign of competition or overexpansion.

Red Flags

7 items require attention · 5 high · 2 watch

🔴Debt has risen sharplyFinancial
Total debt is up 511% over 3 years, from ₹0 Cr to ₹1 Cr.
🔴Profit up while operating cash flow fallsFinancial
Reported profit rose but cash generated by operations declined — worth checking whether earnings are being supported by non-cash items or working capital.
🔴Significant margin compressionFinancial
EBITDA margin has fallen 7.4 points, from 13.8% to 6.4%.
🔴Receivables growing faster than salesFinancial
Receivables up 167% against revenue up 64% — sales are being booked faster than they are collected.
🔴Inventory building faster than salesFinancial
Inventory up 633% against revenue up 64% — stock may not be moving.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹1 Cr in the latest year.
🟡Profit is decliningFinancial
Net profit is down 45% over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Capital compounds at a high rate
ROCE of 18.4% means each rupee reinvested earns well above what capital costs. If the company can keep deploying at this rate, growth creates value rather than just consuming cash.
Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 13.8% to 6.4%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Sales are being booked faster than collected
Receivables are up 167% against revenue up 64%. If customers keep taking longer to pay, reported profit will not turn into cash — and write-offs follow if some never do.
Returns on shareholder capital are falling
ROE has dropped from 38.6% to 13.6%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
5 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Revenue growth stays above 13% a year✓ 17.9% CAGR
Latest reported year was -16.9%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 4%✓ 6.4%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Free cash flow remains positive✗ -₹1 Cr
Profit that never becomes cash eventually stops being profit.
4Debt / EBITDA stays below 2x✓ 0.4x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
5ROCE stays above 15%✓ 18.4%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

7 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✓ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

5 good · 4 neutral · 2 weak

Market Cap

₹15 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

15.1x

Fair

Fairly valued against the generic band

P/B Ratio

2.05x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹5.08

Profitable

Profitable on a per-share basis

ROE

13.9%

Moderate

Moderate capital efficiency

ROCE

18.4%

Strong

Earns comfortably above its likely cost of capital

Debt/Equity

0.11x

Low

Conservative leverage

Revenue Growth (YoY)

-16.9%

Shrinking

Sales are contracting

Profit Growth (YoY)

331.8%

Healthy

Profits growing at a healthy clip

Dividend Yield

4.43%

Healthy

Meaningful cash return while you hold the stock

Free Cash Flow

-₹2 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

ROA

5.8%

Average

Average asset productivity

Operating Margin

5.2%

Average

Average margins

Net Margin

3.4%

Average

Average bottom-line conversion

Current Ratio

2.16

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.55

Defensive

Steadier than the market

52W Range Position

30%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

73.4 / 72.6

Bullish alignment (short > long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

75.5

Overbought zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹18 Cr	₹27 Cr	₹30 Cr	₹30 Cr	+17.9%
EBITDA	₹3 Cr	₹3 Cr	₹1 Cr	₹2 Cr	-8.8%
EBITDA Margin	13.8%	10.2%	5.0%	6.4%	—
PAT (Net Profit)	₹2 Cr	₹2 Cr	₹1 Cr	₹1 Cr	-18.1%
EPS	₹9.24	₹10.02	₹4.84	—	—
ROE	38.6%	29.5%	13.7%	13.6%	—
ROCE	51.7%	39.8%	18.1%	18.4%	—
Total Debt	₹0 Cr	—	—	₹1 Cr	+82.8%
Free Cash Flow	₹2 Cr	₹1 Cr	₹2 Cr	-₹1 Cr	—

🟢 Revenue has grown at 17.9% a year over 3 years.

🔴 EBITDA has shrunk at 8.8% a year over 3 years.

🔴 EBITDA Margin has fallen from 13.8% to 6.4% over 3 years (-7.4 pts).

🔴 PAT (Net Profit) has shrunk at 18.1% a year over 3 years.

🔴 ROE has fallen from 38.6% to 13.6% over 3 years (-25.1 pts).

🔴 ROCE has fallen from 51.7% to 18.4% over 3 years (-33.3 pts).

🔴 Total Debt has grown at 82.8% a year over 3 years.

🔴 Free Cash Flow has turned negative, from ₹2 Cr to -₹1 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹13 Cr

Total Liabilities

₹5 Cr

Cash & Equivalents

₹4 Cr

Operating Cash Flow

-₹1 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

80.4%

Corporate Actions

Dividend Rate

₹3.4

Ex-Dividend Date

17 Jul 2026

Peer Comparison

Company	P/E	ROE
TATA CONSULTANCY SERV LT	17.3x	45.6%
INFOSYS LIMITED	15.8x	32.0%
HCL TECHNOLOGIES LTD	20.4x	24.6%
WIPRO LTD	14.5x	15.9%

Recent News

6 general

Compare with MINAL INDUSTRIES

Equitymaster, 14 Oct

Compare with

Equitymaster, 08 Oct

Brisk Technovision lists at 12% premium over IPO price on BSE SME

Moneycontrol.com, 31 Jan

Brisk Technovision Limited Share Price

Upstox, 21 Oct

BRISK Stock Price and Chart — BSE:BRISK

TradingView, 02 Feb

Brisk Technovision Limited IPO Date, Price, GMP, Review, Detail

IndiaIPO, 31 Jul

Watch Items

Revenue growth is negative (-16.9%) on the latest reported period — check if this is one-off or a trend.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
RSI is in overbought territory — momentum entries here carry more short-term pullback risk.

DalalBaazaar Thesis

StrongFinancial Health · Valuation

MiddlingRisk

WeakBusiness Quality · Growth · Profitability

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 5 high-severity red flags sit above this conclusion and should be read first.

1 of 5 tripwires tripped — Free cash flow remains positive · see Key things to watch ↑