BF Utilities Limited
NSE: BFUTILITIE · Road Assets–Toll, Annuity, Hybrid-Annuity · sector
₹417.90NSE close 2026-10-26
Key numbers
Market cap₹1,574 cr
Price₹417.90
52w high / low₹789 / ₹369
P/E–Sector median 11.1x
P/B9.4xSector median 1.6x
Book value₹44.2
Dividend yield–
ROE-5.6%Sector median 4.4%
ROCE-5.1%Sector median 12.5%
OPM-61.5%Sector median 2.3%
Debt / equity0.00xSector median 0.43x
EV/EBITDA–Sector median 8.8x
Interest cover-4,756.6x
Current ratio3.38x
Sales growth 3y+1.5%Sector median +17.2%
Profit growth 3y-27.1%Sector median -27.1%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 7 companies in Road Assets–Toll, Annuity, Hybrid-Annuity (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹44 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Borrowings fell in each of the last 3 years (₹19 cr → ₹0 cr).
- Operating profit covered interest -4,756.6x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 5 of the last 5 years (FY26, FY25, FY24, FY23, FY22).
- Net loss in 5 of the last 8 quarters.
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- No dividend in the last 5 financial years.
- Price ₹417.90 on 2026-10-26: -47.0% from the 52-week high, +13.3% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,112.20 · low ₹390.25
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9 | 2 | 2 | 6 | 8 | 3 | 2 | 6 |
| EBITDA | 1 | -1 | -1 | -2 | 2 | -4 | -4 | -6 |
| OPM % | 8.9% | -65.8% | -23.6% | -35.2% | 21.0% | -106.6% | -243.1% | -95.1% |
| Other income | 2 | 1 | 1 | 11 | 1 | 1 | 1 | 1 |
| Net profit | -1 | -1 | 0 | 6 | 2 | -2 | -4 | -5 |
| EPS (₹) | -0.26 | -0.16 | 0.02 | 1.70 | 0.47 | -0.62 | -0.97 | -1.34 |
| Revenue YoY | -10.7% | +88.0% | -29.5% | +1.9% | ||||
| Profit YoY | – | – | -5,300.0% | -178.3% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 18 | 18 | 19 | 19 | 19 | 19 |
| EBITDA | 0 | -1 | -2 | -1 | -8 | -12 |
| Net profit | 3 | 6 | 10 | 16 | 2 | -9 |
| EPS (₹) | 0.75 | 1.53 | 2.68 | 4.24 | 0.59 | -2.46 |
| Revenue growth | -1.9% | +7.6% | -4.2% | +1.5% | +0.4% | |
| Profit growth | +103.9% | +74.9% | +58.4% | -86.0% | -288.0% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +1.5% | +5.3% | +0.4% |
| Net profit | -27.1% | – | -288.0% |
| EPS | -27.2% | – | – |
| Share price | – | -33.1% (2y) | -43.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 138 | 148 | 164 | 167 |
| Borrowings | – | 19 | 13 | 10 | 0 |
| Cash & equivalents | – | 34 | 40 | 35 | 44 |
| Total assets | – | 190 | 195 | 208 | 202 |
| Fixed assets | – | 4 | 3 | 3 | 2 |
| Capital work in progress | – | 0 | – | 0 | 0 |
| Investments | – | 111 | 111 | 111 | 111 |
| Receivables | – | 0 | 0 | 0 | 0 |
| Inventory | – | 0 | 0 | 0 | 0 |
| Payables | – | 3 | 3 | 3 | 3 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 0 | -2 | -5 | -24 | -11 |
| Cash from investing | -3 | 4 | 12 | 25 | 22 |
| Cash from financing | -4 | -2 | -6 | -2 | -10 |
| Capex | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 0 | -2 | -5 | -24 | -11 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 4.2% | 6.8% | 9.7% | 1.3% |
| ROCE % | – | 4.3% | 8.5% | 12.3% | 3.4% |
| Debtor days | – | 0 | 0 | 0 | 0 |
| Inventory days | – | 1 | 1 | 1,625 | 2,719 |
| Payable days | – | 56 | 57 | 1,28,519 | 2,36,833 |
| Cash conversion cycle (days) | – | -55 | -56 | -1,26,894 | -2,34,114 |
| Working capital days | – | 115 | 309 | 298 | 660 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 56.72% |
| FIIs | 1.38% |
| DIIs | 0.02% |
| of which Mutual funds | 0.00% |
| Public (non-institutions) | 41.88% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 56.72% | 56.72% | 56.72% | 56.72% | 56.72% | 56.72% | 56.72% | 56.72% |
| Promoter group | % |
|---|---|
| Ajinkya Investment And Trading Company | 17.65% |
| Kalyani Investment Company Limited | 16.45% |
| Ksl Holdings Private Limited | 11.56% |
| Pih Finvest Company Limited | 3.78% |
| Bf Investment Limited | 3.15% |
| Jannhavi Investment Private Limited | 1.22% |
| Sundaram Trading And Investment Pvt Ltd | 0.64% |
| Rajgad Trading Company Pvt.Ltd | 0.40% |
| Kalyani Consultants Pvt.Ltd. | 0.40% |
| Kalyani Exports & Investments Pvt.Ltd. | 0.39% |
| Aboli Investment Pvt Ltd | 0.36% |
| Dandakaranya Investment And Trading Pvt. Ltd. | 0.25% |
| Gaurishankar Neelkanth Kalyani | 0.17% |
| Campanula Investment & Finance Pvt.Ltd | 0.15% |
| Cornflower Investment & Finance Pvt.Ltd | 0.11% |
| Public holders above 1% | % |
|---|---|
| Krutadnya Management And Trading Services LLP | 3.98% |
| Hirak Leasing And Investments Pvt Ltd | 1.70% |
| Stock Planet Private Limited | 1.03% |
| Radhakishan Shivkishan Damani | 1.01% |
46,983 shareholders. Pledged: 0.00% of promoter shares.
Peers in Road Assets–Toll, Annuity, Hybrid-Annuity
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BFUTILITIE | ₹1,574 cr | – | 9.4x | -5.6% | -5.1% | -61.5% | +1.5% | – |
| HILINFRA | ₹441 cr | 16.6x | 1.9x | 11.2% | 12.5% | 2.3% | – | – |
| INNOVISION | ₹379 cr | 11.1x | 1.3x | 12.6% | 14.1% | 5.6% | – | – |
| ATLANTAA | ₹232 cr | – | 1.1x | -2.4% | 1.2% | 41.3% | +12.7% | – |
| NOIDATOLL | ₹64 cr | 2.2x | – | – | 94.0% | 28.4% | +21.8% | – |
| GAYAHWS | ₹39 cr | – | – | – | – | -3.8% | +24.0% | – |
| MEP | ₹12 cr | – | – | – | – | -1,434.9% | – | – |
All 7 companies in Road Assets–Toll, Annuity, Hybrid-Annuity →
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Windmills | ₹23 cr | 68.7% | ₹4 cr | 17.5% |
| Infrastructure | ₹10 cr | 31.3% | ₹4 cr | 35.3% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-12-23 | Other | Annual General Meeting |
| 2023-09-26 | Other | Annual General Meeting |
| 2022-09-27 | Other | Annual General Meeting |
| 2021-09-27 | Other | Annual General Meeting |
| 2020-12-28 | Other | Annual General Meeting |
| 2019-11-28 | Other | Annual General Meeting |
| 2018-09-21 | Other | Annual General Meeting |
| 2017-11-02 | Other | Annual General Meeting |
| 2016-09-28 | Other | Annual General Meeting |
| 2016-02-29 | Other | Annual General Meeting |
| 2015-03-26 | Other | Annual General Meeting |
| 2014-03-20 | Other | Annual General Meeting |
| 2013-03-26 | Other | Annual General Meeting |
| 2012-02-09 | Other | Annual General Meeting |
| 2011-03-25 | Other | Annual General Meeting |
| 2010-06-28 | Other | Annual General Meeting |
| 2010-03-11 | Restructuring | Scheme Of Arrangement |
| 2009-03-25 | Other | Annual General Meeting |
| 2008-03-19 | Other | Annual General Meeting |
Documents
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Annual report FY21
- Announcements NSE filings
- BRSR FY25
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Power generation: Wind power generation
| Sector | Services |
| Industry | Road Assets–Toll, Annuity, Hybrid-Annuity |
| Sub-industry | Road Assets–Toll, Annuity, Hybrid-Annuity |
| Symbol | BFUTILITIE |
| BSE code | 532430 |
| ISIN | INE243D01012 |
| Face value | ₹5.0 |
| Incorporated | 2000-09-15 |
| Website | bfutilities.com |
| Plants (India / abroad) | 1 / 0 |
From the company's filings (BRSR FY25).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.