BF Utilities Ltd

₹ 525 -0.45%

18 Feb - close price

bfutilities.com BSE: 532430 NSE: BFUTILITIE

About

Incorporated in 2000, BF Utilities Ltd is engaged in the generation of electricity through wind mills and Infrastructure activities. ^[1]

Key Points

Products
The Company primarily generates wind power which is then utilised by Bharat Forge Ltd. at its plant in Pune. Other than that it is involved in the infrastructure business. ^[1]^[2]

Website BSE NSE - BZ

Market Cap ₹ 1,986 Cr.
Current Price ₹ 525
High / Low ₹ 899 / 501
Stock P/E 248
Book Value ₹ 45.7
Dividend Yield 0.00 %
ROCE 12.8 %
ROE 10.2 %
Face Value ₹ 5.00

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Pros

Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 44.7% CAGR over last 5 years

Cons

Stock is trading at 11.5 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -0.71% over past five years.
Company has a low return on equity of 7.32% over last 3 years.
Earnings include an other income of Rs.12.4 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

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	2.96	2.05	5.36	10.29	1.37	2.38	5.45	8.92	1.84	2.37	5.77	7.97	3.46
	3.42	3.12	5.76	9.15	2.77	3.51	5.38	8.13	3.05	2.93	7.80	6.30	4.97
Operating Profit	-0.46	-1.07	-0.40	1.14	-1.40	-1.13	0.07	0.79	-1.21	-0.56	-2.03	1.67	-1.51
OPM %	-15.54%	-52.20%	-7.46%	11.08%	-102.19%	-47.48%	1.28%	8.86%	-65.76%	-23.63%	-35.18%	20.95%	-43.64%
	7.34	0.53	0.49	0.55	0.60	14.55	19.55	1.54	1.02	0.99	11.49	1.07	-1.10
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.17	0.17	0.17	0.17	0.17	0.16
Profit before tax	6.70	-0.72	-0.09	1.51	-0.98	13.24	19.44	2.16	-0.36	0.26	9.29	2.57	-2.77
Tax %	11.64%	43.06%	-55.56%	3.31%	-26.53%	29.23%	9.98%	144.91%	72.22%	73.08%	30.89%	30.74%	-15.88%
	5.92	-1.02	-0.04	1.47	-0.72	9.38	17.50	-0.97	-0.62	0.07	6.42	1.79	-2.33
EPS in Rs	1.57	-0.27	-0.01	0.39	-0.19	2.49	4.64	-0.26	-0.16	0.02	1.70	0.47	-0.62
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2014	Sep 2015	Mar 2016 6m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	23.47	19.07	5.21	21.25	14.85	17.81	19.25	14.59	18.38	18.03	19.40	18.58	19.57
	11.87	8.62	3.63	7.41	11.27	16.85	16.83	16.42	18.16	19.09	21.19	19.49	22.00
Operating Profit	11.60	10.45	1.58	13.84	3.58	0.96	2.42	-1.83	0.22	-1.06	-1.79	-0.91	-2.43
OPM %	49.42%	54.80%	30.33%	65.13%	24.11%	5.39%	12.57%	-12.54%	1.20%	-5.88%	-9.23%	-4.90%	-12.42%
	1.73	4.24	0.04	4.10	18.40	31.94	4.51	2.43	6.60	8.58	16.19	23.10	12.45
Interest	5.84	5.61	0.41	5.85	3.57	2.45	1.09	0.56	0.21	0.04	0.00	0.00	0.00
Depreciation	6.11	4.79	1.94	3.87	3.86	3.86	3.87	3.57	2.02	0.71	0.71	0.68	0.67
Profit before tax	1.38	4.29	-0.73	8.22	14.55	26.59	1.97	-3.53	4.59	6.77	13.69	21.51	9.35
Tax %	5.80%	-23.78%	38.36%	11.19%	-8.73%	-2.22%	-27.92%	-51.27%	38.34%	14.62%	26.30%	25.66%
	1.29	5.31	-1.01	7.30	15.82	27.17	2.52	-1.72	2.83	5.77	10.09	15.99	5.95
EPS in Rs	0.34	1.41	-0.27	1.94	4.20	7.21	0.67	-0.46	0.75	1.53	2.68	4.24	1.57
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-2%
5 Years:	-1%
3 Years:	0%
TTM:	5%

Compounded Profit Growth
10 Years:	29%
5 Years:	45%
3 Years:	78%
TTM:	-68%

Stock Price CAGR
10 Years:	2%
5 Years:	13%
3 Years:	13%
1 Year:	-24%

Return on Equity
10 Years:	7%
5 Years:	5%
3 Years:	7%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	18.83	18.83	18.83	18.83	18.83	18.83	18.83	18.83	18.83	18.83	18.83	18.83	18.83
Reserves	54.27	59.58	58.57	66.13	82.08	109.27	111.68	110.07	113.44	119.27	129.46	145.46	153.60
	106.72	75.39	81.89	62.33	46.41	36.99	30.17	24.93	20.92	18.63	13.00	10.50	9.50
	52.47	53.25	46.08	65.65	59.17	52.17	47.80	37.48	33.21	33.21	33.89	33.71	36.12
Total Liabilities	232.29	207.05	205.37	212.94	206.49	217.26	208.48	191.31	186.40	189.94	195.18	208.50	218.05
	31.90	27.41	25.48	21.62	17.76	13.93	10.10	6.54	4.54	3.84	3.15	2.52	2.19
CWIP	2.87	7.44	7.82	11.19	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	135.29	105.63	114.00	112.43	111.15	110.89	110.51	110.56	111.06	110.84	110.94	111.04	111.04
	62.23	66.57	58.07	67.70	77.58	92.44	87.87	74.21	70.80	75.26	81.09	94.94	104.82
Total Assets	232.29	207.05	205.37	212.94	206.49	217.26	208.48	191.31	186.40	189.94	195.18	208.50	218.05

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	6.81	7.17	3.64	22.18	10.77	0.82	0.48	-3.07	0.32	-2.45	-4.87	-23.68
	-11.88	28.91	-8.73	-1.32	-3.96	9.66	22.59	-2.64	-2.83	3.82	11.53	24.95
	5.36	-36.84	5.62	-14.30	-13.05	-12.16	-6.17	-3.77	-4.22	-2.32	-5.63	-2.50
Net Cash Flow	0.29	-0.75	0.52	6.55	-6.24	-1.68	16.89	-9.47	-6.74	-0.95	1.03	-1.23

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	1.24	49.19	49.04	155.62	41.05	37.30	6.64	0.00	0.60	0.00	0.00	0.00
Inventory Days
Days Payable
Cash Conversion Cycle	1.24	49.19	49.04	155.62	41.05	37.30	6.64	0.00	0.60	0.00	0.00	0.00
Working Capital Days	-779.14	-1,085.43	-4,623.80	-1,335.30	-1,780.27	-1,336.63	-1,160.42	-952.15	-620.18	-577.16	-434.99	-392.50
ROCE %	4.13%	2.73%	-0.19%	9.20%	12.09%	18.59%	1.88%	-1.89%	3.13%	4.38%	8.61%	12.80%

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	56.74%	56.74%	56.74%	56.74%	56.74%	56.74%	56.74%	56.73%	56.73%	56.73%	56.73%	56.73%
	0.43%	0.39%	0.94%	0.78%	0.88%	0.90%	1.11%	1.54%	1.69%	1.55%	1.63%	1.57%
	0.09%	0.09%	0.13%	0.09%	0.09%	0.09%	0.14%	0.09%	0.13%	0.14%	0.14%	0.10%
	42.74%	42.77%	42.19%	42.39%	42.27%	42.26%	42.00%	41.63%	41.45%	41.59%	41.51%	41.60%
No. of Shareholders	56,186	55,189	44,259	46,044	54,730	57,038	50,588	51,117	50,640	50,315	48,876	48,542

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	66.39%	56.72%	56.73%	56.73%	56.74%	56.74%	56.74%	56.74%	56.74%	56.73%	56.73%
	0.46%	0.73%	0.94%	0.50%	0.29%	0.28%	0.43%	0.43%	0.88%	1.69%	1.57%
	0.24%	0.75%	0.39%	0.66%	1.07%	0.10%	0.09%	0.09%	0.09%	0.13%	0.10%
	32.91%	41.80%	41.94%	42.12%	41.90%	42.88%	42.74%	42.74%	42.27%	41.45%	41.60%
No. of Shareholders	43,879	49,134	44,745	48,141	44,091	46,868	57,565	56,186	54,730	50,640	48,542

* 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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BF Utilities Ltd

BF Utilities Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

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