BF Utilities Ltd

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BF Utilities Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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BF Utilities Ltd

₹ 527 -0.54%
08 Sep - 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 ₹ 1,983 Cr.
  • Current Price ₹ 527
  • High / Low ₹ 899 / 369
  • Stock P/E
  • Book Value ₹ 44.2
  • Dividend Yield 0.00 %
  • ROCE 3.88 %
  • ROE 1.52 %
  • Face Value ₹ 5.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 11.9 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.

Peer comparison

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
5.36 10.29 1.37 2.38 5.45 8.92 1.84 2.37 5.77 7.97 3.46 1.67 5.88
5.76 9.15 2.77 3.51 5.38 8.13 3.05 2.93 7.80 6.30 4.97 7.02 11.47
Operating Profit -0.40 1.14 -1.40 -1.13 0.07 0.79 -1.21 -0.56 -2.03 1.67 -1.51 -5.35 -5.59
OPM % -7.46% 11.08% -102.19% -47.48% 1.28% 8.86% -65.76% -23.63% -35.18% 20.95% -43.64% -320.36% -95.07%
0.49 0.55 0.60 14.55 19.55 1.54 1.02 0.99 11.49 1.07 -1.10 2.14 0.72
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 0.17 0.17 0.17 0.17 0.17 0.16 0.14 0.14
Profit before tax -0.09 1.51 -0.98 13.24 19.44 2.16 -0.36 0.26 9.29 2.57 -2.77 -3.35 -5.01
Tax % -55.56% 3.31% -26.53% 29.23% 9.98% 144.91% 72.22% 73.08% 30.89% 30.74% -15.88% 8.66% 0.40%
-0.04 1.47 -0.72 9.38 17.50 -0.97 -0.62 0.07 6.42 1.79 -2.33 -3.64 -5.03
EPS in Rs -0.01 0.39 -0.19 2.49 4.64 -0.26 -0.16 0.02 1.70 0.47 -0.62 -0.97 -1.33
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
19.07 5.21 21.25 14.85 17.81 19.25 14.59 18.38 18.03 19.40 18.58 18.86 18.98
8.62 3.63 7.41 11.27 16.85 16.83 16.42 18.16 19.09 21.19 19.49 26.08 29.76
Operating Profit 10.45 1.58 13.84 3.58 0.96 2.42 -1.83 0.22 -1.06 -1.79 -0.91 -7.22 -10.78
OPM % 54.80% 30.33% 65.13% 24.11% 5.39% 12.57% -12.54% 1.20% -5.88% -9.23% -4.90% -38.28% -56.80%
4.24 0.04 4.10 18.40 31.94 4.51 2.43 6.60 8.58 16.19 23.10 13.59 2.83
Interest 5.61 0.41 5.85 3.57 2.45 1.09 0.56 0.21 0.04 0.00 0.00 0.00 0.00
Depreciation 4.79 1.94 3.87 3.86 3.86 3.87 3.57 2.02 0.71 0.71 0.68 0.64 0.61
Profit before tax 4.29 -0.73 8.22 14.55 26.59 1.97 -3.53 4.59 6.77 13.69 21.51 5.73 -8.56
Tax % -23.78% 38.36% 11.19% -8.73% -2.22% -27.92% -51.27% 38.34% 14.62% 26.30% 25.66% 61.08%
5.31 -1.01 7.30 15.82 27.17 2.52 -1.72 2.83 5.77 10.09 15.99 2.23 -9.21
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 -2.45
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: 14%
5 Years: 5%
3 Years: 2%
TTM: 0%
Compounded Profit Growth
10 Years: 16%
5 Years: 28%
3 Years: -24%
TTM: -270%
Stock Price CAGR
10 Years: -1%
5 Years: 5%
3 Years: -12%
1 Year: -34%
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
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
Reserves 59.58 58.57 66.13 82.08 109.27 111.68 110.07 113.44 119.27 129.46 145.46 147.74
75.39 81.89 62.33 46.41 36.99 30.17 24.93 20.92 18.63 13.00 10.50 0.08
53.25 46.08 65.65 59.17 52.17 47.80 37.48 33.21 33.21 33.89 33.71 35.32
Total Liabilities 207.05 205.37 212.94 206.49 217.26 208.48 191.31 186.40 189.94 195.18 208.50 201.97
27.41 25.48 21.62 17.76 13.93 10.10 6.54 4.54 3.84 3.15 2.52 1.96
CWIP 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 105.63 114.00 112.43 111.15 110.89 110.51 110.56 111.06 110.84 110.94 111.04 111.10
66.57 58.07 67.70 77.58 92.44 87.87 74.21 70.80 75.26 81.09 94.94 88.91
Total Assets 207.05 205.37 212.94 206.49 217.26 208.48 191.31 186.40 189.94 195.18 208.50 201.97

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
7.17 3.64 22.18 10.77 0.82 0.48 -3.07 0.32 -2.45 -4.87 -23.68 -11.45
28.91 -8.73 -1.32 -3.96 9.66 22.59 -2.64 -2.83 3.82 11.53 24.95 21.71
-36.84 5.62 -14.30 -13.05 -12.16 -6.17 -3.77 -4.22 -2.32 -5.63 -2.50 -10.50
Net Cash Flow -0.75 0.52 6.55 -6.24 -1.68 16.89 -9.47 -6.74 -0.95 1.03 -1.23 -0.24
Free Cash Flow 2.29 3.26 18.79 11.39 0.79 0.43 -3.07 0.30 -2.46 -4.89 -23.74 -11.45
CFO/OP 69% 232% 177% 390% -3% 38% 171% 255% 100% 63% 2,000% 118%

Ratios

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
Debtor Days 49.19 49.04 155.62 41.05 37.30 6.64 0.00 0.60 0.00 0.00 0.00 0.00
Inventory Days
Days Payable
Cash Conversion Cycle 49.19 49.04 155.62 41.05 37.30 6.64 0.00 0.60 0.00 0.00 0.00 0.00
Working Capital Days -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 -183.08
ROCE % 2.73% -0.19% 9.20% 12.09% 18.59% 1.88% -1.89% 3.13% 4.38% 8.61% 12.80% 3.88%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Power Generation (Net)
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Shareholding Pattern

Numbers in percentages

4 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
56.74% 56.74% 56.74% 56.74% 56.74% 56.73% 56.73% 56.73% 56.73% 56.73% 56.73% 56.73%
0.94% 0.78% 0.88% 0.90% 1.11% 1.54% 1.69% 1.55% 1.63% 1.57% 1.57% 1.61%
0.13% 0.09% 0.09% 0.09% 0.14% 0.09% 0.13% 0.14% 0.14% 0.10% 0.05% 0.06%
42.19% 42.39% 42.27% 42.26% 42.00% 41.63% 41.45% 41.59% 41.51% 41.60% 41.65% 41.59%
No. of Shareholders 44,25946,04454,73057,03850,58851,11750,64050,31548,87648,54247,82446,840

* 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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