BF Investment Ltd

BF Investment Ltd

₹ 533 -1.85%
12 Apr 4:01 p.m.
About

BF Investment Ltd is a Non-Deposit taking Core Investment Company. It is primarily engaged in the business of making investments in Kalyani Group companies. [1][2]

Key Points

History
The Company was incorporated in 2009 by demerging the Investment Business of BF Utilities Ltd. by way of a Composite Scheme of Arrangement. Under the said business restructuring, Investment Business has been transferred to BF Investment Ltd. [1]

  • Market Cap 2,010 Cr.
  • Current Price 533
  • High / Low 660 / 364
  • Stock P/E 6.74
  • Book Value 1,411
  • Dividend Yield 0.00 %
  • ROCE 7.88 %
  • ROE 5.94 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Stock is trading at 0.38 times its book value
  • Company is expected to give good quarter

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 6.87% over last 3 years.
  • Earnings include an other income of Rs.368 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
3 4 5 6 7 2 4 14 8 5 6 15 9
1 3 1 1 1 2 1 1 1 3 1 1 1
Operating Profit 3 1 5 5 6 0 4 13 7 2 5 14 8
OPM % 75% 20% 89% 84% 91% 1% 88% 94% 89% 34% 86% 93% 93%
50 277 41 48 45 115 43 56 71 150 70 79 69
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 52 278 45 53 51 115 47 68 77 152 75 92 77
Tax % 25% 25% 27% 23% 25% 25% 25% 25% 24% 25% 25% 25% 25%
39 208 33 40 38 86 35 51 59 114 56 69 58
EPS in Rs 10.31 55.23 8.82 10.74 10.12 22.82 9.25 13.62 15.68 30.29 14.95 18.39 15.38
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
983 1,074 11 19 22 16 20 31 35
909 998 3 4 6 6 4 6 6
Operating Profit 74 77 8 14 16 11 16 26 29
OPM % 8% 7% 71% 76% 73% 65% 78% 82% 83%
4 2 184 134 214 347 248 319 368
Interest 2 0 0 0 0 0 0 0 0
Depreciation 16 15 0 0 1 1 1 1 1
Profit before tax 59 63 192 148 230 357 264 344 396
Tax % 29% 32% 17% 14% 37% 25% 25% 25%
132 135 160 126 144 267 198 259 298
EPS in Rs 35.09 35.92 42.42 33.57 38.31 70.89 52.50 68.84 79.01
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 23%
3 Years: 12%
TTM: 23%
Compounded Profit Growth
10 Years: %
5 Years: 9%
3 Years: 21%
TTM: 29%
Stock Price CAGR
10 Years: 24%
5 Years: 16%
3 Years: 24%
1 Year: 24%
Return on Equity
10 Years: %
5 Years: 7%
3 Years: 7%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 19 19 19 19 19 19 19 19 19
Reserves 980 1,125 2,421 2,033 1,692 3,279 4,019 4,671 5,297
10 0 0 0 0 0 0 0 0
149 174 120 135 213 294 345 418 509
Total Liabilities 1,159 1,318 2,559 2,187 1,924 3,591 4,382 5,108 5,825
65 73 14 14 14 15 16 15 15
CWIP 3 3 0 0 0 0 0 0 0
Investments 667 770 2,499 2,086 1,777 3,424 4,177 4,838 5,495
424 472 46 87 133 153 189 255 315
Total Assets 1,159 1,318 2,559 2,187 1,924 3,591 4,382 5,108 5,825

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0 51 -2 -25 -3 -6 6 -0
-22 -26 5 30 11 13 -27 7
36 -6 0 0 0 0 0 0
Net Cash Flow 15 19 3 5 8 6 -21 7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 61 68 0 0 0 0 0 0
Inventory Days 29 23
Days Payable 65 72
Cash Conversion Cycle 26 20 0 0 0 0 0 0
Working Capital Days 49 50 694 1,157 412 586 465 301
ROCE % 6% 11% 7% 12% 14% 7% 8%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.13% 74.13% 74.13% 74.13% 74.13% 74.13% 74.13% 74.13% 74.13% 74.13% 74.13% 74.13%
1.11% 1.12% 1.10% 1.10% 1.18% 1.17% 1.19% 1.26% 1.32% 1.34% 1.44% 1.53%
0.44% 0.44% 0.44% 0.43% 0.44% 0.44% 0.44% 0.44% 0.44% 0.44% 0.44% 0.44%
24.32% 24.31% 24.33% 24.33% 24.25% 24.26% 24.24% 24.17% 24.12% 24.08% 23.99% 23.91%
No. of Shareholders 20,10120,58021,43120,91320,78720,67120,88220,77221,53021,29320,78821,114

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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