BF Utilities Ltd

₹ 442 -1.17%

09 Nov - 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

Company Overview^[1]
BF Utilities Ltd. (BFUL), part of the USD 3 billion Kalyani Group, originated from a demerger of Bharat Forge Ltd., approved by the Bombay High Court in January 2001. Under the scheme, investment holdings and the windmills division were transferred to BFUL, with shareholders receiving one BFUL equity share (₹5) for every Bharat Forge share (₹10) held. The company has since restructured through a Composite Scheme of Arrangement, retaining its Infrastructure Business while transferring the Investment Business to BF Investment Ltd.

Website BSE NSE

Market Cap ₹ 1,666 Cr.
Current Price ₹ 442
High / Low ₹ 728 / 369
Stock P/E
Book Value ₹ 42.2
Dividend Yield 0.00 %
ROCE 3.88 %
ROE 1.53 %
Face Value ₹ 5.00

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Pros

Company has reduced debt.
Company is almost debt free.

Cons

Stock is trading at 10.5 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 5.27% over past five years.
Company has a low return on equity of 6.15% over last 3 years.

* 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.

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	10.29	1.37	2.38	5.45	8.92	1.84	2.37	5.77	7.97	3.46	1.67	5.88	6.50
YoY Sales growth	+33.98%	-53.72%	+16.10%	+1.68%	-13.31%	+34.31%	-0.42%	+5.87%	-10.65%	+88.04%	-29.54%	+1.91%	-18.44%
	9.15	2.77	3.51	5.38	8.13	3.05	2.93	7.80	6.30	4.97	7.02	11.47	9.59
Operating Profit	1.14	-1.40	-1.13	0.07	0.79	-1.21	-0.56	-2.03	1.67	-1.51	-5.35	-5.59	-3.09
OPM %	11.08%	-102.19%	-47.48%	1.28%	8.86%	-65.76%	-23.63%	-35.18%	20.95%	-43.64%	-320.36%	-95.07%	-47.54%
	0.55	0.60	14.55	19.55	1.54	1.02	0.99	11.49	1.07	-1.10	2.14	0.72	0.68
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	0.17	0.17	0.17	0.17	0.17	0.16	0.14	0.14	0.14
Profit before tax	1.51	-0.98	13.24	19.44	2.16	-0.36	0.26	9.29	2.57	-2.77	-3.35	-5.01	-2.55
Tax %	3.31%	-26.53%	29.23%	9.98%	144.91%	72.22%	73.08%	30.89%	30.74%	-15.88%	8.66%	0.40%	-1.18%
	1.47	-0.72	9.38	17.50	-0.97	-0.62	0.07	6.42	1.79	-2.33	-3.64	-5.03	-2.52
EPS in Rs	0.39	-0.19	2.49	4.64	-0.26	-0.16	0.02	1.70	0.47	-0.62	-0.97	-1.33	-0.67
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2015	Mar 2016 6m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	19	5	21	15	18	19	15	18	18	19	19	19	18
Sales growth	-19%	-78%	+308%	-30%	+20%	+8%	-24%	+26%	-2%	+8%	-4%	+2%	-2%
	9	4	7	11	17	17	16	18	19	21	19	26	33
Operating Profit	10	2	14	4	1	2	-2	0	-1	-2	-1	-7	-16
OPM %	55%	30%	65%	24%	5%	13%	-13%	1.2%	-6%	-9%	-4.9%	-38%	-89%
	4	0	4	18	32	5	2	7	9	16	23	14	2
Interest	6	0	6	4	2	1	1	0	0	0	0	0	0
Depreciation	5	2	4	4	4	4	4	2	1	1	1	1	1
Profit before tax	4	-1	8	15	27	2	-4	5	7	14	22	6	-14
Tax %	-24%	38%	11%	-9%	-2%	-28%	-51%	38%	15%	26%	26%	61%
	5	-1	7	16	27	3	-2	3	6	10	16	2	-14
EPS in Rs	1.41	-0.27	1.94	4.20	7.21	0.67	-0.46	0.75	1.53	2.68	4.24	0.59	-3.59
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	14%
5 Years:	5%
3 Years:	2%
TTM:	-2%

Compounded Profit Growth
10 Years:	16%
5 Years:	28%
3 Years:	-24%
TTM:	-265%

Stock Price CAGR
10 Years:	-1%
5 Years:	0%
3 Years:	-10%
1 Year:	-35%

Return on Equity
10 Years:	7%
5 Years:	5%
3 Years:	6%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	19	19	19	19	19	19	19	19	19	19	19	19	19
Reserves	60	59	66	82	109	112	110	113	119	129	145	148	140
	75	82	62	46	37	30	25	21	19	13	10	0	0
	53	46	66	59	52	48	37	33	33	34	34	35	37
Total Liabilities	207	205	213	206	217	208	191	186	190	195	208	202	196
	27	25	22	18	14	10	7	5	4	3	3	2	2
CWIP	7	8	11	0	0	0	0	0	0	0	0	0	0
Investments	106	114	112	111	111	111	111	111	111	111	111	111	111
	67	58	68	78	92	88	74	71	75	81	95	89	83
Total Assets	207	205	213	206	217	208	191	186	190	195	208	202	196

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7	4	22	11	1	0	-3	0	-2	-5	-24	-11
	29	-9	-1	-4	10	23	-3	-3	4	12	25	22
	-37	6	-14	-13	-12	-6	-4	-4	-2	-6	-2	-10
Net Cash Flow	-1	1	7	-6	-2	17	-9	-7	-1	1	-1	-0
Free Cash Flow	2	3	19	11	1	0	-3	0	-2	-5	-24	-11
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	69%	232%	177%	390%	-3%	38%	171%	255%	100%	63%	2,000%	118%

Ratios

Standalone / View Consolidated

	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	49	49	156	41	37	7	0	1	0	0	0	0
Inventory Days
Days Payable
Cash Conversion Cycle	49	49	156	41	37	7	0	1	0	0	0	0
Working Capital Days	-1,085	-4,624	-1,335	-1,780	-1,337	-1,160	-952	-620	-577	-435	-392	-185
ROCE %	3%	-0%	9%	12%	19%	2%	-2%	3%	4%	9%	13%	4%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Power Generation (Net)
Million Units

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Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

4 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	56.74%	56.74%	56.74%	56.74%	56.73%	56.73%	56.73%	56.73%	56.73%	56.73%	56.73%	56.73%
	0.78%	0.88%	0.90%	1.11%	1.54%	1.69%	1.55%	1.63%	1.57%	1.57%	1.61%	1.38%
	0.09%	0.09%	0.09%	0.14%	0.09%	0.13%	0.14%	0.14%	0.10%	0.05%	0.06%	0.02%
	42.39%	42.27%	42.26%	42.00%	41.63%	41.45%	41.59%	41.51%	41.60%	41.65%	41.59%	41.88%
No. of Shareholders	46,044	54,730	57,038	50,588	51,117	50,640	50,315	48,876	48,542	47,824	46,840	46,983

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	66.39%	56.72%	56.73%	56.73%	56.74%	56.74%	56.74%	56.74%	56.74%	56.73%	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%	1.38%
	0.24%	0.75%	0.39%	0.66%	1.07%	0.10%	0.09%	0.09%	0.09%	0.13%	0.05%	0.02%
	32.91%	41.80%	41.94%	42.12%	41.90%	42.88%	42.74%	42.74%	42.27%	41.45%	41.65%	41.88%
No. of Shareholders	43,879	49,134	44,745	48,141	44,091	46,868	57,565	56,186	54,730	50,640	47,824	46,983

* 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

Insights

Shareholding Pattern

Documents

Announcements

Annual reports