BF Utilities

₹847.6 40.3 | 5%

WEBSITE BSE:532430 NSE : BF UTILI 05 Feb, 11:21

Market Cap ₹3193 Cr.

Stock P/E 10.5

P/B 24.3

Current Price ₹847.6

Book Value ₹ 34.9

Face Value 5

52W High ₹1125.1

Dividend Yield 0%

52W Low ₹ 631

Edit Ratio

BF Utilities Research see more...

Overview Inc. Year: 2000Industry: Power Generation/Distribution

BF Utilities Ltd is an India-based holding company. The Company is basically engaged in the generation of electricity through windmills and infrastructure activities. Its segments comprises Wind Energy and Infrastructure. It sells energy and related products to customers. Its wind farm project is spread over an expanse of over 300 acres at Thosegar site in Satara, Maharashtra. Its wind farm project consists of about 51 wind energy turbines of over 230 kilowatts and approximately 11 WEGs of over 600 kilowatts. Its subsidiary Nandi Infrastructure Corridor Enterprise Ltd (NICE) has interest in the Bangalore Mysore Infrastructure Corridor Project, which is an infrastructure improvement mission. The Company's subsidiary has constructed and operates over 30 kilometers bypass road connecting the dual towns of Dharwad and Hubli in North Karnataka. Its BMIC undertaking includes over 41 kilometers (km)outer peripheral road.

BF Utilities Share Price

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Peer Comparison

BF Utilities Quarterly Results

#(Fig in Cr.)	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Net Sales	194	161	166	232	263	218	246	242	197	221
Other Income	1	5	12	5	4	5	5	5	5	6
Total Income	196	166	178	236	267	224	251	247	203	228
Total Expenditure	54	49	48	110	135	69	97	88	46	54
Operating Profit	142	117	130	126	133	154	154	159	157	174
Interest	43	44	45	51	38	36	35	32	32	30
Depreciation	14	14	15	15	15	16	17	18	18	18
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	85	58	71	61	80	102	101	109	108	126
Provision for Tax	3	2	4	8	19	15	25	29	28	35
Profit After Tax	81	55	67	53	61	87	76	80	79	91
Adjustments	-44	-28	-35	-25	-30	-45	-39	-42	-42	-52
Profit After Adjustments	37	27	32	28	30	42	37	37	37	39
Adjusted Earnings Per Share	9.9	7.1	8.5	7.4	8	11.3	9.9	9.9	9.8	10.4

BF Utilities Profit & Loss

#(Fig in Cr.)	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	237	519	301	336	401	448	535	371	513	759	969	906
Other Income	9	3	4	8	11	21	29	23	22	17	21	21
Total Income	246	522	306	345	412	469	565	394	536	777	990	929
Total Expenditure	92	146	93	86	100	117	238	142	194	262	390	285
Operating Profit	154	377	213	259	312	352	326	252	341	515	600	644
Interest	240	231	194	222	208	205	214	215	183	183	142	129
Depreciation	24	28	23	60	63	52	53	57	55	58	66	71
Exceptional Income / Expenses	0	3	10	0	0	-15	-25	0	0	0	0	0
Profit Before Tax	-110	120	6	-23	41	80	34	-20	103	274	392	444
Provision for Tax	2	-0	3	6	5	8	6	2	10	17	88	117
Profit After Tax	-111	121	3	-29	36	72	27	-22	93	257	304	326
Adjustments	59	-59	0	33	-12	-34	-8	20	-42	-132	-156	-175
Profit After Adjustments	-52	61	3	3	24	38	20	-2	51	124	147	150
Adjusted Earnings Per Share	-13.8	16.3	0.9	0.9	6.4	10.2	5.2	-0.7	13.5	33	39.1	40

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	28%	38%	17%	15%
Operating Profit CAGR	17%	34%	11%	15%
PAT CAGR	18%	0%	33%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	25%	29%	23%	4%
ROE Average	0%	0%	0%	0%
ROCE Average	39%	30%	24%	19%

BF Utilities Balance Sheet

#(Fig in Cr.)	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	-280	-228	-228	-315	-292	-265	-221	-223	-171	-92	55
Minority's Interest	334	390	391	190	194	205	219	200	243	422	572
Borrowings	1851	1818	1811	1677	1580	1661	1620	1602	1517	1344	1193
Other Non-Current Liabilities	41	52	42	163	204	173	231	241	231	172	230
Total Current Liabilities	305	204	224	160	156	224	322	325	328	385	373
Total Liabilities	2250	2237	2240	1874	1842	1998	2171	2146	2147	2232	2423
Fixed Assets	1324	1299	1287	1217	1155	1108	1161	1108	1124	1098	1354
Other Non-Current Assets	547	546	527	359	412	481	491	496	542	631	536
Total Current Assets	380	343	381	298	274	409	519	542	482	503	533
Total Assets	2250	2237	2240	1874	1842	1998	2171	2146	2147	2232	2423

BF Utilities Cash Flow

#(Fig in Cr.)	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	33	5	10	25	32	24	22	27	25	8	50
Cash Flow from Operating Activities	171	331	223	254	281	405	311	202	326	436	583
Cash Flow from Investing Activities	-17	25	-30	12	-24	-158	-83	-7	-60	-40	-245
Cash Flow from Financing Activities	-182	-352	-191	-259	-265	-249	-222	-197	-283	-354	-338
Net Cash Inflow / Outflow	-28	4	2	7	-8	-2	5	-2	-17	41	1
Closing Cash & Cash Equivalent	5	10	11	32	24	22	27	25	8	50	50

BF Utilities Ratios

#	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	-13.82	16.32	0.88	0.88	6.38	10.19	5.24	-0.66	13.49	33.03	39.12
CEPS(Rs)	-23.22	39.47	6.96	8.09	26.19	32.92	21.37	9.18	39.37	83.53	98.1
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	-74.45	-73.3	-72.2	-83.75	-77.61	-70.25	-58.76	-59.27	-45.44	-24.35	14.7
Core EBITDA Margin(%)	61.17	71.95	69.24	74.49	75.13	73.81	55.44	61.71	62.11	65.54	59.77
EBIT Margin(%)	54.79	67.81	66.45	59.21	62.27	63.55	46.27	52.72	55.74	60.19	55.07
Pre Tax Margin(%)	-46.01	23.22	2.05	-6.95	10.23	17.75	6.32	-5.41	20.09	36.08	40.43
PAT Margin (%)	-46.68	23.26	1.06	-8.72	9	16.07	5.11	-5.96	18.15	33.81	31.31
Cash Profit Margin (%)	-36.72	28.65	8.7	9.06	24.62	27.67	15.04	9.33	28.9	41.45	38.12
ROA(%)	-4.93	5.38	0.14	-1.43	1.94	3.75	1.31	-1.02	4.34	11.72	13.04
ROE(%)	0	0	0	0	0	0	0	0	0	0	0
ROCE(%)	7.81	21.77	12.63	13.27	18.09	20.05	16.63	13.13	19.42	32.12	38.96
Receivable days	4.12	1.31	2.31	5.69	5.3	1.69	0.93	0.5	0.54	0.7	1.01
Inventory Days	306.54	129.71	208.34	186.55	156.31	139.66	134.59	219.92	159.37	107.93	88.3
Payable days	821.1	161.25	0	0	0	0	0	0	0	0	0
PER(x)	0	28.7	644.71	500.17	59.79	19.19	27.49	0	22.86	8.99	19.7
Price/Book(x)	-7.48	-6.39	-7.83	-5.27	-4.92	-2.78	-2.45	-4.15	-6.79	-12.2	52.44
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	16.96	6.95	13.21	9.97	7.52	5.38	4.09	6.96	5.33	3.19	4.13
EV/Core EBITDA(x)	26.1	9.58	18.69	12.96	9.65	6.84	6.71	10.24	8.02	4.71	6.68
Net Sales Growth(%)	20.71	118.55	-41.9	11.55	19.13	11.86	19.42	-30.77	38.49	47.95	27.69
EBIT Growth(%)	33	169.63	-43.07	-0.61	25.29	14.18	-13.06	-21.11	46.43	59.75	16.83
PAT Growth(%)	-1.76	208.55	-97.35	-1016.55	222.95	99.78	-62.01	-180.77	521.54	175.57	18.26
EPS Growth(%)	-7.55	218.04	-94.63	0.65	623.19	59.72	-48.63	-112.51	2159.4	144.78	18.45
Debt/Equity(x)	-6.9	-6.72	-6.86	-5.46	-5.62	-6.64	-7.72	-7.66	-9.51	-16.14	23.42
Current Ratio(x)	1.25	1.68	1.7	1.87	1.76	1.83	1.61	1.67	1.47	1.3	1.43
Quick Ratio(x)	0.6	0.84	0.93	0.79	0.66	1.06	0.92	0.98	0.78	0.72	0.77
Interest Cover(x)	0.54	1.52	1.03	0.89	1.2	1.39	1.16	0.91	1.56	2.5	3.76
Total Debt/Mcap(x)	0.92	1.05	0.88	1.04	1.14	2.38	3.15	1.84	1.4	1.32	0.45

BF Utilities Shareholding Pattern

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	56.74	56.74	56.74	56.74	56.74	56.74	56.74	56.74	56.74	56.72
FII	0.51	0.49	0.43	0.39	0.94	0.78	0.88	0.9	1.11	1.54
DII	0.1	0.1	0.1	0.1	0.13	0.1	0.1	0.1	0.15	0.1
Public	42.65	42.67	42.73	42.77	42.19	42.39	42.28	42.26	42.01	41.64
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	2.14	2.14	2.14	2.14	2.14	2.14	2.14	2.14	2.14	2.14
FII	0.02	0.02	0.02	0.01	0.04	0.03	0.03	0.03	0.04	0.06
DII	0	0	0	0	0	0	0	0	0.01	0
Public	1.61	1.61	1.61	1.61	1.59	1.6	1.59	1.59	1.58	1.57
Others	0	0	0	0	0	0	0	0	0	0
Total	3.77	3.77	3.77	3.77	3.77	3.77	3.77	3.77	3.77	3.77

Pros

Company has delivered good profit growth of 33% CAGR over last 5 years
Company has reduced debt.

Cons

Company has a low return on equity of 0% over the last 3 years.
Stock is trading at 24.3 times its book value.

* 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.