MarketFriction

BF Utilities Ltd

NSE BFUTILITIE · BSE 532430 · Road AssetsToll, Annuity, Hybrid-Annuity
₹504.75 -0.59%
NSE close2026-10-01
52 week range368.70 - 834.00
Market cap₹1,917 Cr.
Price band 20% Delivery 28.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales10.291.372.385.458.921.842.375.777.973.461.675.88
Expenses9.152.773.515.388.133.052.937.806.304.977.0211.47
Operating Profit1.14-1.40-1.130.070.79-1.21-0.56-2.031.67-1.51-5.35-5.59
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%
Other Income0.550.6014.5519.551.541.020.9911.491.07-1.102.140.72
Interest0.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation0.180.180.180.180.170.170.170.170.170.160.140.14
Profit before tax1.51-0.9813.2419.442.16-0.360.269.292.57-2.77-3.35-5.01
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%
Net Profit1.47-0.729.3817.50-0.97-0.620.076.421.79-2.33-3.64-5.03
EPS in Rs0.39-0.192.494.64-0.26-0.160.021.700.47-0.62-0.97-1.33
Mar 2016 6mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5.2121.2514.8517.8119.2514.5918.3818.0319.4018.5818.8618.98
Expenses3.637.4111.2716.8516.8316.4218.1619.0921.1919.4926.0829.76
Operating Profit1.5813.843.580.962.42-1.830.22-1.06-1.79-0.91-7.22-10.78
OPM %30.33%65.13%24.11%5.39%12.57%-12.54%1.20%-5.88%-9.23%-4.90%-38.28%-56.80%
Other Income0.044.1018.4031.944.512.436.608.5816.1923.1013.592.83
Interest0.415.853.572.451.090.560.210.040.000.000.000.00
Depreciation1.943.873.863.863.873.572.020.710.710.680.640.61
Profit before tax-0.738.2214.5526.591.97-3.534.596.7713.6921.515.73-8.56
Tax %38.36%11.19%-8.73%-2.22%-27.92%-51.27%38.34%14.62%26.30%25.66%61.08%
Net Profit-1.017.3015.8227.172.52-1.722.835.7710.0915.992.23-9.21
EPS in Rs-0.271.944.207.210.67-0.460.751.532.684.240.59-2.45
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth14%5%2%0%
Compounded Profit Growth16%28%-24%-270%
Stock Price CAGR-1%3%-8%-37%
Return on Equity7%5%6%2%
Sep 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital18.8318.8318.8318.8318.8318.8318.8318.8318.8318.8318.8318.83
Reserves59.5858.5766.1382.08109.27111.68110.07113.44119.27129.46145.46147.74
Borrowings75.3981.8962.3346.4136.9930.1724.9320.9218.6313.0010.500.08
Other Liabilities53.2546.0865.6559.1752.1747.8037.4833.2133.2133.8933.7135.32
Total Liabilities207.05205.37212.94206.49217.26208.48191.31186.40189.94195.18208.50201.97
Fixed Assets27.4125.4821.6217.7613.9310.106.544.543.843.152.521.96
CWIP7.447.8211.190.000.000.000.000.000.000.000.000.00
Investments105.63114.00112.43111.15110.89110.51110.56111.06110.84110.94111.04111.10
Other Assets66.5758.0767.7077.5892.4487.8774.2170.8075.2681.0994.9488.91
Total Assets207.05205.37212.94206.49217.26208.48191.31186.40189.94195.18208.50201.97
Sep 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity7.173.6422.1810.770.820.48-3.070.32-2.45-4.87-23.68-11.45
Cash from Investing Activity28.91-8.73-1.32-3.969.6622.59-2.64-2.833.8211.5324.9521.71
Cash from Financing Activity-36.845.62-14.30-13.05-12.16-6.17-3.77-4.22-2.32-5.63-2.50-10.50
Net Cash Flow-0.750.526.55-6.24-1.6816.89-9.47-6.74-0.951.03-1.23-0.24
Free Cash Flow2.293.2618.7911.390.790.43-3.070.30-2.46-4.89-23.74-11.45
CFO/OP69%232%177%390%-3%38%171%255%100%63%2,000%118%
Sep 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days49.1949.04155.6241.0537.306.640.000.600.000.000.000.00
Inventory Days
Days Payable
Cash Conversion Cycle49.1949.04155.6241.0537.306.640.000.600.000.000.000.00
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%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters56.74%56.74%56.74%56.74%56.74%56.73%56.73%56.73%56.73%56.73%56.73%56.73%
FIIs0.94%0.78%0.88%0.90%1.11%1.54%1.69%1.55%1.63%1.57%1.57%1.61%
DIIs0.13%0.09%0.09%0.09%0.14%0.09%0.13%0.14%0.14%0.10%0.05%0.06%
Public42.19%42.39%42.27%42.26%42.00%41.63%41.45%41.59%41.51%41.60%41.65%41.59%
No. of Shareholders44,25946,04454,73057,03850,58851,11750,64050,31548,87648,54247,82446,840

Fundamentals

Market Cap₹ 1,917 Cr.
Current Price₹ 509
Book Value₹ 44.2
ROCE3.88 %
ROE1.52 %
Dividend Yield0.00 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)0%
Compounded Profit Growth (TTM)-270%
Standalone figures.
Valuation
Market capRs 1,901 Cr
Enterprise valueRs 1,857 Cr
Price to book11.41x
Price to sales100.15x
EV / sales97.86x
Earnings yield-0.48%
P/E, 3-year average232.63x
P/B, 3-year average18.42x
P/E, 5-year average267.42x
P/B, 5-year average13.43x
Profitability
Operating margin (excl. other income)-38.28%
Operating margin (incl. other income)33.78%
EBITDA margin-41.89%
Pre-tax margin-45.10%
Net profit margin-48.52%
Net margin, latest quarter-85.54%
ROE1.35%
ROCE3.36%
ROA1.09%
ROE, 3-year average6.21%
ROCE, 3-year average8.26%
ROA, 3-year average4.75%
ROE, 5-year average5.01%
ROCE, 5-year average6.46%
ROA, 5-year average3.76%
ROIC (approx.)-2.71%
Tax rate61.08%
Other income / net worth8.16%
Growth
Sales growth (latest year)1.51%
Profit growth (latest year)-86.05%
Sales CAGR, 3 years1.51%
Sales CAGR, 5 years5.27%
Profit CAGR, 3 years-27.16%
Sales growth QoQ252.10%
Sales growth YoY (latest quarter)1.91%
Profit growth YoY (latest quarter)-178.35%
Per share
EPS (TTM)Rs -2.45
EPS (latest quarter)Rs -1.34
EPS, 3-year averageRs 3.46
EPS, 5-year averageRs 2.30
Book value per shareRs 44.23
Sales per shareRs 5.04
Cash flow per shareRs -3.04
Free cash flow per shareRs -3.04
Efficiency
Asset turnover0.09x
Fixed asset turnover9.62x
Inventory turnover0.00x
Cash conversion cycle0 days
Working capital days-183 days
Leverage
Total debtRs 0 Cr
Cash and bankRs 44 Cr
Net debtRs -44 Cr
Debt to equity0.00x
Current ratio (filing 2026-03-31)3.38x
Quick ratio (filing 2026-03-31)3.38x
Trade payables (filing 2026-03-31)Rs 3 Cr
Owners' fund to total sources82.47%
Debt to assets0.04%
Cash flow
Cash from Operating Activity (latest year)Rs -11 Cr
Cash from Investing Activity (latest year)Rs 22 Cr
Cash from Financing Activity (latest year)Rs -10 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -11 Cr
FCFE (approx.: FCF + change in debt)Rs -22 Cr
Cash from ops / profit, 5 years-1.14x
Statement figures
Net sales (TTM)Rs 19 Cr
Net sales (latest year)Rs 19 Cr
Sales (latest quarter)Rs 6 Cr
Operating profit excl. other income (latest year)Rs -7 Cr
Operating profit (latest quarter)Rs -6 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs -8 Cr
PBDT (TTM)Rs -8 Cr
Profit before tax (TTM)Rs -9 Cr
Tax (latest year)Rs 4 Cr
Net profit (TTM)Rs -9 Cr
Net profit (latest year)Rs 2 Cr
Net profit (latest quarter)Rs -5 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Cost of goods sold (latest year)Rs 0 Cr
Total expenditure (latest year)Rs 26 Cr
Total income (latest year)Rs 32 Cr
Share capitalRs 19 Cr
ReservesRs 148 Cr
Shareholders' fundsRs 167 Cr
Total assetsRs 202 Cr
Net blockRs 2 Cr
InvestmentsRs 111 Cr
InventoryRs 0 Cr
Other liabilitiesRs 35 Cr
Shares outstanding (crore)3.77
Ownership
Promoter holding56.73% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 11.41 is at the 47th percentile (median 11.48).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodBFUTILITIENifty 50Difference
1 week-3.9%-2.8% -1.2 pts
1 month+0.0%-6.8% +6.8 pts
3 months-14.0%-7.6% -6.3 pts
6 months+35.8%+0.4% +35.4 pts
1 year-39.5%-9.9% -29.6 pts
2 years-43.8%-13.6% -30.2 pts
3 years-22.5%+14.2% -36.7 pts
5 years+17.3%+27.9% -10.6 pts

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -141% of net profit over the last 3 years
lookProfit leans on other income Other income was 237% of pre-tax profit in 2026
lookAuditor change Auditor change 2026-09-30: BF Utilities Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹6 Cr +1.9% vs Jun 2025. Net loss ₹5 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-12-23Annual General Meeting
2023-09-26Annual General Meeting
2022-09-27Annual General Meeting
2021-09-27 Annual General Meeting
2020-12-28 Annual General Meeting
2019-11-28 Annual General Meeting
2018-09-21 Annual General Meeting
2017-11-02 Annual General Meeting
2016-09-28 Annual General Meeting
2016-02-29 Annual General Meeting
2015-03-26Annual General Meeting
2014-03-20Annual General Meeting
2013-03-26Annual General Meeting
2012-02-09Annual General Meeting
2011-03-25Annual General Meeting
2010-06-28Annual General Meeting
2010-03-11Scheme Of Arrangement
2009-03-25Annual General Meeting
2008-03-19Annual General Meeting
DateTypeWhat it says
2026-09-30UpdatesComments of Board.
2026-09-30UpdatesComments of board
2026-09-30Change in AuditorsChange in Auditors of the company.
2026-09-30Change in ManagementRe-appointment of Mr. B. S. Mitkari (DIN: 03632549), as Director of the Company, liable to retire by rotation, subject to approval of the members, at ...
2026-09-30Change in ManagementCompletion of first term of M/s. G. D. Apte & Co., Chartered Accountants, Statutory Auditors of the Company
2026-09-30Change in AuditorsChange in Auditors of the company.
2026-09-30Board meeting outcomeBF Utilities Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-09-29General UpdatesIntimation of fine
2026-09-16General UpdatesGeneral Updates- fine paid
2026-09-15General UpdatesGeneral Updates -intimation of fine
2026-09-15Reply to Clarification- FinaThe Exchange had sought clarification from BF Utilities Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing O...
2026-09-15Shareholder meetingNotice of Postal Ballot for appointment of Mr. Ajay Kirtane as Independent Director.
2026-09-11General UpdatesReg 30 intimation of fine
2026-09-07Director changeChange in Director(s) of the company.
2026-09-07AppointmentAppointment of Mr. Ajay Charuchandra Kirtane (DIN: 02711040) as an Additional, Non-Executive Independent Director of the Company
2026-09-02Clarification - Financial ReThe Exchange has sought clarification from BF Utilities Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing O...
2026-08-26General UpdatesIntimation of fine
2026-08-20General UpdatesExtension of time for holding Annual General Meeting for the financial year ended March 31, 2026
2026-08-14General UpdatesBoard comments on fine levied by the Exchange
2026-08-14General UpdatesGeneral Updates on consolidated Financial Results for the quarter ended June 30, 2026
2026-08-14Board meeting outcomeBF Utilities Limited has submitted to the Exchange, the Unaudited Standalone financial results for the period ended Jun 30, 2026.
2026-07-17General UpdatesIntimation of fine
2026-07-14Volume querySignificant increase in volume has been observed in BF Utilities Limited. The Exchange, in order to ensure that investors have latest relevant informa...
2026-07-13Volume querySignificant increase in volume has been observed in BF Utilities Limited. The Exchange, in order to ensure that investors have latest relevant informa...
2026-07-01General UpdatesGeneral Updates- intimation of fine
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of BF Utilities Ltd?

BF Utilities Ltd (BFUTILITIE) has a market capitalisation of Rs 1,917 Cr. at the 2026-10-01 close.

What were BF Utilities Ltd's latest quarterly results?

In the Jun 2026 quarter, BF Utilities Ltd sales was Rs 6 Cr (+1.9% vs Jun 2025) with a net loss of Rs 5 Cr.

What is the 52-week high and low of BF Utilities Ltd?

The 52-week high is Rs 834.00 and the 52-week low is Rs 368.70.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03