Brainbees Solutions Ltd (NSE: FIRSTCRY) Q1 Results: Brainbees Solutions, the company behind the FirstCry brand, has announced its results for the June quarter.
The company recorded an operating loss of Rs 57 crore in the period. This was an increase of Rs 90 crore over the same period.
The revenue generated by operations was Rs 1,652 crore, which is up 17 percent from the Rs 1407 crore during the same period of the previous financial year.
The company announced its financial results for only the first time during the announcement of the company’s IPO.
Order Details
The company’s average daily value of orders (AOV) for the marketplace was Rs 2460 in the June quarter.
In June the company processed nine million orders, an increase from 7.6 million during the same timeframe in the year before.
Share Status
The company released its quarterly results following the market had shut. The shares were last traded at 640 rupees on the NSE increasing by Rs 11.70 or 1.86 percent from the closing price.
The company was recently listed by the Stock Exchange.
Listing in August
Brainbees Solutions Limited, the parent company of the marketplace for e-commerce, FirstCry was listed on the marketplace in August.
On the first day of trading on the market, the stock ended at around 46 percent over the price at which it was issued which was Rs 465.
It was traded at Rs 625 on BSE which was an increase of 34.40 percent over the price at which it was issued. It then increased 52 percent to Rs 707.05.
It ended the day at Rs 678.25 which was an increase of 45.86 percent. It began trading at Rs 651 and jumped 40 percent to the NSE.
It ended at Rs 673.50 with an increase of 44.83 percent.
Demand for IPO
Brainbees Solutions’ IPO received 12.22 times the subscription on the final day of the auction.
The price for the company’s Rs 4194 crore initial public offering was between Rs 440 and Rs 465 for each share.
The company plans to use the proceeds of the IPO to establish stores under the “Baby Hug” brand, invest in subsidiary companies, expand internationally, and fund marketing and sales initiatives.
In addition, the proceeds are set aside for general corporate use.
Quick Fact
| Company name | Brainbees Solutions |
|---|---|
| Operating loss | ₹57 crore |
| Revenue from operations | ₹1652 crore |
| Revenue growth | 17% |
| Previous year’s revenue | ₹1407 crore |
| Average order value | ₹2460 |
| Orders processed | 9 million |
| Previous year’s orders | 7.6 million |
| IPO demand | 12 times subscription |
| IPO price range | ₹440 – ₹465 per share |
| IPO proceeds | ₹4194 crore |
| Use of IPO proceeds | Baby Hug stores, subsidiaries, international expansion, marketing, corporate use |
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