The company achieved a 15.26% year-over-year revenue increase, though this growth is tempered by thin 16.2% gross margins that limit pricing power.
| Metric | Mar'25 | Mar'24 | Mar'23 | Mar'22 |
|---|
| Sales/Revenue | 64.39M | 55.87M | 52.94M | 70.92M |
| Revenue Growth % | 15.26% | 5.54% | -25.36% | - |
| Cost of Goods Sold | 53.96M | 47.32M | 43.79M | 61.03M |
| COGS % of Revenue | 83.8% | 84.71% | 82.73% | 86.06% |
| Gross Profit | 10.43M | 8.54M | 9.14M | 9.89M |
| Gross Margin % | 16.2% | 15.29% | 17.27% | 13.94% |
| Gross Profit Growth % | 22.11% | -6.57% | -7.52% | - |
| Operating Expenses | 6.37M | 2.43M | 2.47M | 2.52M |
| OpEx % of Revenue | 9.89% | 4.34% | 4.66% | 3.55% |
| Selling, General & Admin | 4.19M | 2.23M | 2.25M | 2.3M |
| SG&A % of Revenue | 6.51% | 4% | 4.25% | 3.24% |
| Research & Development | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - |
| Other Operating Expenses | 2.18M | 192.57K | 215.26K | 222.02K |
| Operating Income | 4.06M | 6.12M | 6.68M | 7.37M |
| Operating Margin % | 6.31% | 10.95% | 12.61% | 10.39% |
| Operating Income Growth % | -33.6% | -8.38% | -9.4% | - |
| EBITDA | 4.52M | 6.12M | 6.68M | 7.37M |
| EBITDA Margin % | 7.02% | 10.95% | 12.61% | 10.39% |
| EBITDA Growth % | -26.11% | -8.38% | -9.39% | - |
| D&A (Non-Cash Add-back) | 459K | 1.22K | 1.31K | 326 |
| EBIT | 4.12M | 3.99M | 5.26M | 5.84M |
| Net Interest Income | -364K | -8.45K | -30.88K | -52.26K |
| Interest Income | 185K | 0 | 0 | 0 |
| Interest Expense | 500K | 8.45K | 30.88K | 52.26K |
| Other Income/Expense | -442K | -2.13M | -1.45M | -1.58M |
| Pretax Income | 3.62M | 3.98M | 5.23M | 5.79M |
| Pretax Margin % | 5.62% | 7.13% | 9.87% | 8.16% |
| Income Tax | 800K | 702.5K | 885.57K | 1M |
| Effective Tax Rate % | 22.11% | 17.64% | 16.94% | 17.31% |
| Net Income | 2.82M | 3.28M | 4.34M | 4.78M |
| Net Margin % | 4.37% | 5.86% | 8.19% | 6.74% |
| Net Income Growth % | -14.07% | -24.47% | -9.31% | - |
| Net Income (Continuing) | 2.82M | 3.28M | 4.34M | 4.79M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 16K | 7.16K | 0 | 0 |
| EPS (Diluted) | 0.00 | 0.16 | 0.22 | 0.24 |
| EPS Growth % | -100% | -27.27% | -8.33% | - |
| EPS (Basic) | 0.00 | 0.16 | 0.22 | 0.24 |
| Diluted Shares Outstanding | 0 | 20M | 20M | 20M |
| Basic Shares Outstanding | 0 | 20M | 20M | 20M |
| Dividend Payout Ratio | - | 76.92% | 145.25% | 27.18% |
Thin margin operational sensitivity
As reported in recent financial disclosures, Brillia Inc achieved a 15.26% year-over-year revenue increase, suggesting a period of aggressive market penetration within the Southeast Asian intimate apparel sector following the company's formal restructuring into a holding entity during the third quarter of 2023.
The reported growth rate appears to be a function of the company's recent organizational formation rather than a long-term organic trend. Investors should monitor whether this momentum persists as the company moves past its initial consolidation phase and faces potential saturation in its core Singaporean distribution channels.
Based on reported figures, the company maintains a 16.2% gross margin, which indicates a high-volume, transactional distribution model that leaves little room for error when managing the volatility of apparel procurement costs and regional logistics expenses in a competitive, price-sensitive retail environment.
The narrow 4.37% net margin suggests that Brillia operates with minimal bottom-line protection against inflationary pressures or supply chain disruptions. This structural profile implies that the firm functions primarily as a price-taker, lacking the brand equity required to pass increased input costs onto its regional customer base.
According to the company's balance sheet data, Brillia maintains a negligible debt-to-equity ratio of 0.09%, effectively insulating the firm from rising interest rate environments and providing a defensive posture that contrasts sharply with the higher leverage profiles often seen in the broader industrial distribution sector.
This lack of debt indicates a management preference for equity-funded growth, which protects the company from insolvency risks but may limit its ability to achieve higher returns on equity. While this conservative approach provides a buffer, it also suggests that the firm may be under-utilizing its balance sheet to drive potential regional expansion.
As noted in recent industry analysis, the company's classification as an industrial distributor may mask significant fashion-obsolescence risks, as the 16.2% gross margin could be vulnerable to inventory write-downs if the firm fails to accurately forecast regional consumer demand for its intimate apparel product lines.
Short-sellers might focus on the potential for revenue overstatement if returns from wholesale partners exceed current reserves, a common pitfall in high-volume distribution. Furthermore, the reliance on a $7.7M cash reserve without clear reinvestment plans warrants investigation into whether the company possesses a sustainable long-term strategy for capital allocation.
Quick answers to the most common questions about buying BRIA stock.
For fiscal year 2024, Brillia Inc (BRIA) reported total revenue of $64.4M. This represents a 9.2% decline compared to $70.9M in 2021.
Brillia Inc (BRIA) is profitable, generating $2.8M in net income for the fiscal year ending 2024 with a net profit margin of 4.4%.
Brillia Inc (BRIA) reported an operating income of $4.1M, resulting in an operating profit margin of 6.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Brillia Inc (BRIA) generated $10.4M in gross profit for the year, representing a gross profit margin of 16.2%. This demonstrates the company's core pricing power and production efficiency.