BrilliA Inc. Class A (BRIA) AI Stock Analysis

• Market Cap: $53.25M
• Dividend Yield: 8.21%
• Average Volume (3M): 9.01K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 194
• Sector: Technology
• Sector Strength: 88
• Industry: Industrial - Distribution
• EPS (TTM): N/A
• Shares Outstanding: 25,000,000
• 10 Day Avg. Volume: 11,209
• 30 Day Avg. Volume: 9,010
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: -0.11
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: $2.50 ▲(26.90% Upside)
• Action: Reiterated Date: 02/15/26
• Date: Action: Reiterated 02/15/26

The score is primarily supported by a strong, low-leverage balance sheet and improving FY2025 revenue growth, with added support from a high dividend yield. Offsetting these positives, cash flow has deteriorated into negative operating and free cash flow, and technical indicators show an overextended momentum setup that increases near-term risk.

Positive Factors

Low Leverage / Strong Balance Sheet

A very low debt-to-equity (~0.09) and sizable equity base provide durable financial flexibility. This reduces default and refinancing risk, supports investment or buybacks during downturns, and gives management room to fund growth or sustain payouts without urgent external financing.

Revenue Re-acceleration

A meaningful re-acceleration to +15.3% in FY2025 indicates improving demand or execution. Sustained top-line momentum over multiple quarters can support scale benefits, more stable margins over time, and a stronger competitive position if management converts growth into repeatable market share gains.

Solid Return on Equity

ROE around 15.6% signals the business can generate attractive returns on shareholders' capital. Combined with a sizable equity base, this suggests an efficient business model that can fund reinvestment or dividends sustainably if ROE is maintained, enhancing long-term shareholder value.

Negative Factors

Weak Cash Generation

Operating and free cash flow turned significantly negative in FY2025 after strong FCF in FY2023 (~$11M). Persistent cash conversion weakness suggests working-capital stress or margin/cash timing issues, raising funding risk and potentially forcing external financing or cuts to discretionary investments.

Margin Compression

Notable decline in gross and net margins points to structural cost pressure or weakened pricing power. If margins do not rebound, profitability sustainability is impaired, limiting capacity to self-fund growth, maintain dividends, or absorb input-cost shocks over the medium term.

Top-line Volatility

Sharp swings in revenue across recent years highlight demand cyclicality or exposure to volatile end markets. This undermines forecasting accuracy and capital allocation, increasing execution risk and making it harder to rely on consistent cash flows for strategic investments or dividend policy.

BrilliA Inc. Class A Business Overview & Revenue Model

Company Description

BrilliA, Inc. is a holding company, which engages in the sale of women’s lingerie and apparel through its subsidiaries. Its products include brassiere, bodysuits, and lingerie. The company was founded by Salim Podiono on July 14, 2023 and is headquartered in Singapore.

How the Company Makes Money

BrilliA Inc. Class A Financial Statement Overview

Summary

Balance sheet strength is a clear positive (low leverage; debt-to-equity ~0.09), and revenue growth improved in FY2025 (+15.3%). However, margins have compressed versus prior years and cash generation is the key weakness, with FY2025 operating cash flow (-$4.5M) and free cash flow (-$4.6M) turning negative.

Income Statement

Revenue growth re-accelerated in FY2025 (+15.3%) after a modest FY2024 (+5.5%) and a sharp FY2023 decline (-25.4%), indicating improving top-line momentum but with volatility. Profitability remains positive, though margins have compressed versus prior years: FY2025 gross margin ~16.2% and net margin ~4.4% (down from ~8.2% in FY2023). Operating profitability is still reasonable for the business (FY2025 EBIT margin ~6.4%), but the trajectory suggests rising costs and/or pricing pressure.

Balance Sheet

The balance sheet appears conservatively levered, with low debt relative to equity in FY2025 (debt-to-equity ~0.09) and a sizable equity base. Returns on equity are strong across the period (FY2025 ~15.6%), although they have stepped down meaningfully from exceptionally high levels in FY2022–FY2024. Overall, financial flexibility looks good, with leverage not currently a key risk.

Cash Flow

Cash generation weakened materially: FY2025 operating cash flow was negative (-$4.5M) and free cash flow was also negative (-$4.6M), a significant deterioration from strong positive free cash flow in FY2023 (~$11.0M). FY2024 cash flow was also slightly negative. While earnings remain positive, the recent pattern suggests working-capital or cash conversion pressure, increasing funding risk if sustained.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	64.39M	55.87M	52.94M	70.92M
Gross Profit	10.43M	8.54M	9.14M	9.89M
EBITDA	4.58M	3.99M	5.26M	5.84M
Net Income	2.82M	3.28M	4.34M	4.78M
Balance Sheet
Total Assets	28.41M	27.15M	22.20M	24.93M
Cash, Cash Equivalents and Short-Term Investments	7.70M	6.38M	8.91M	4.36M
Total Debt	1.68M	0.00	0.00	0.00
Total Liabilities	10.33M	19.01M	15.71M	16.30M
Stockholders Equity	18.06M	8.13M	6.50M	8.63M
Cash Flow
Free Cash Flow	-4.59M	-177.47K	11.04M	3.59M
Operating Cash Flow	-4.52M	-177.47K	11.04M	3.59M
Investing Cash Flow	-887.00K	0.00	0.00	-4.89K
Financing Cash Flow	6.71M	-2.78M	-6.49M	-4.97M

BrilliA Inc. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DXPE	77 Outperform	$2.50B	30.23	19.58%	―	12.76%	36.11%
GIC	72 Outperform	$1.19B	17.60	22.61%	3.48%	0.16%	2.99%
BRIA	65 Neutral	$53.25M	―	―	8.21%	―	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
DSGR	61 Neutral	$1.38B	-124.13	-1.68%	―	14.46%	-588.82%
EVI	57 Neutral	$267.92M	44.69	3.77%	―	12.63%	-21.23%
TITN	51 Neutral	$451.04M	-7.09	-9.63%	―	-8.92%	-304.76%