BF Utilities

₹831 2.8 | 0.3%

WEBSITE BSE:532430 NSE : BF UTILI 10 May, 16:01

Market Cap ₹3130 Cr.

Stock P/E 22.7

P/B 23.7

Current Price ₹831

Book Value ₹ 35

Face Value 5

52W High ₹978

Dividend Yield 0%

52W Low ₹ 334.4

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.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	114	141	178	194	161	166	232	263	218	246
Other Income	5	3	9	1	5	12	5	4	5	5
Total Income	119	144	187	196	166	178	236	267	224	251
Total Expenditure	35	39	91	54	49	48	110	135	69	97
Operating Profit	84	105	97	142	117	130	126	133	154	154
Interest	51	42	40	43	44	45	51	38	36	35
Depreciation	14	14	13	14	14	15	15	15	16	17
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	20	49	43	85	58	71	61	80	102	101
Provision for Tax	2	3	5	3	2	4	8	19	15	25
Profit After Tax	18	46	38	81	55	67	53	61	87	76
Adjustments	-9	-24	-17	-44	-28	-35	-25	-30	-45	-39
Profit After Adjustments	9	23	21	37	27	32	28	30	42	37
Adjusted Earnings Per Share	2.5	6	5.7	9.9	7.1	8.5	7.4	8	11.3	9.9

BF Utilities Profit & Loss

#(Fig in Cr.)	Sep 2013	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	197	237	519	301	336	401	448	535	371	513	759	959
Other Income	10	9	3	4	8	11	21	29	23	22	17	19
Total Income	207	246	522	306	345	412	469	565	394	536	777	978
Total Expenditure	88	92	146	93	86	100	117	238	142	194	262	411
Operating Profit	119	154	377	213	259	312	352	326	252	341	515	567
Interest	203	240	231	194	222	208	205	214	215	183	183	160
Depreciation	21	24	28	23	60	63	52	53	57	55	58	63
Exceptional Income / Expenses	0	0	3	10	0	0	-15	-25	0	0	0	0
Profit Before Tax	-105	-110	120	6	-23	41	80	34	-20	103	274	344
Provision for Tax	4	2	-0	3	6	5	8	6	2	10	17	67
Profit After Tax	-109	-111	121	3	-29	36	72	27	-22	93	257	277
Adjustments	61	59	-59	0	33	-12	-34	-8	20	-42	-132	-139
Profit After Adjustments	-48	-52	61	3	3	24	38	20	-2	51	124	137
Adjusted Earnings Per Share	-12.9	-13.8	16.3	0.9	0.9	6.4	10.2	5.2	-0.7	13.5	33	36.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	48%	12%	14%	14%
Operating Profit CAGR	51%	16%	11%	16%
PAT CAGR	176%	112%	48%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	139%	44%	38%	4%
ROE Average	0%	0%	0%	0%
ROCE Average	32%	22%	20%	16%

BF Utilities Balance Sheet

#(Fig in Cr.)	Sep 2013	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	-228	-280	-228	-228	-315	-292	-265	-221	-223	-171	-92
Minority's Interest	393	334	390	391	190	194	205	219	200	243	422
Borrowings	1863	1851	1818	1811	1677	1580	1661	1620	1602	1517	1344
Other Non-Current Liabilities	33	41	52	42	163	204	173	231	241	231	173
Total Current Liabilities	196	305	204	224	160	156	224	322	325	328	384
Total Liabilities	2256	2250	2237	2240	1874	1842	1998	2171	2146	2147	2232
Fixed Assets	1247	1324	1299	1287	1217	1155	1108	1161	1108	1124	1098
Other Non-Current Assets	592	547	546	527	359	412	481	491	496	542	631
Total Current Assets	417	380	343	381	298	274	409	519	542	482	503
Total Assets	2256	2250	2237	2240	1874	1842	1998	2171	2146	2147	2232

BF Utilities Cash Flow

#(Fig in Cr.)	Sep 2013	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	63	33	5	10	25	32	24	22	27	25	8
Cash Flow from Operating Activities	-68	171	331	223	254	281	405	311	202	326	436
Cash Flow from Investing Activities	-82	-17	25	-30	12	-24	-158	-83	-7	-60	-40
Cash Flow from Financing Activities	120	-182	-352	-191	-259	-265	-249	-222	-197	-283	-354
Net Cash Inflow / Outflow	-30	-28	4	2	7	-8	-2	5	-2	-17	41
Closing Cash & Cash Equivalent	33	5	10	11	32	24	22	27	25	8	50

BF Utilities Ratios

#	Sep 2013	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	-12.85	-13.82	16.32	0.88	0.88	6.38	10.19	5.24	-0.66	13.49	33.03
CEPS(Rs)	-23.55	-23.22	39.47	6.96	8.09	26.19	32.92	21.37	9.18	39.37	83.53
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	-60.63	-74.45	-73.3	-72.2	-83.75	-77.61	-70.25	-58.76	-59.27	-45.44	-24.35
Core EBITDA Margin(%)	55.12	61.17	71.95	69.24	74.49	75.13	73.81	55.44	61.71	62.11	65.54
EBIT Margin(%)	49.69	54.79	67.81	66.45	59.21	62.27	63.55	46.27	52.72	55.74	60.19
Pre Tax Margin(%)	-53.12	-46.01	23.22	2.05	-6.95	10.23	17.75	6.32	-5.41	20.09	36.08
PAT Margin (%)	-55.33	-46.68	23.26	1.06	-8.72	9	16.07	5.11	-5.96	18.15	33.81
Cash Profit Margin (%)	-44.92	-36.72	28.65	8.7	9.06	24.62	27.67	15.04	9.33	28.9	41.45
ROA(%)	-5.09	-4.93	5.38	0.14	-1.43	1.94	3.75	1.31	-1.02	4.34	11.72
ROE(%)	0	0	0	0	0	0	0	0	0	0	0
ROCE(%)	6.3	7.81	21.77	12.63	13.27	18.09	20.05	16.63	13.13	19.42	32.12
Receivable days	9.98	4.12	1.31	2.31	5.69	5.3	1.69	0.93	0.5	0.54	0.7
Inventory Days	339.12	306.54	129.71	208.34	186.55	156.31	139.66	134.59	219.92	159.37	107.93
Payable days	-119.49	821.1	161.25	0	0	0	0	0	0	0	0
PER(x)	0	0	28.7	644.71	500.17	59.79	19.19	27.49	0	22.86	8.99
Price/Book(x)	-2.19	-7.48	-6.39	-7.83	-5.27	-4.92	-2.78	-2.45	-4.15	-6.79	-12.2
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	12.1	16.96	6.95	13.21	9.97	7.52	5.38	4.09	6.96	5.33	3.19
EV/Core EBITDA(x)	20.06	26.1	9.58	18.69	12.96	9.65	6.84	6.71	10.24	8.02	4.71
Net Sales Growth(%)	9.27	20.71	118.55	-41.9	11.55	19.13	11.86	19.42	-30.77	38.49	47.95
EBIT Growth(%)	45.46	33	169.63	-43.07	-0.61	25.29	14.18	-13.06	-21.11	46.43	59.75
PAT Growth(%)	5.45	-1.76	208.55	-97.35	-1016.55	222.95	99.78	-62.01	-180.77	521.54	175.57
EPS Growth(%)	0.36	-7.55	218.04	-94.63	0.65	623.19	59.72	-48.63	-112.51	2159.4	144.78
Debt/Equity(x)	-8.38	-6.9	-6.72	-6.86	-5.46	-5.62	-6.64	-7.72	-7.66	-9.51	-16.14
Current Ratio(x)	2.13	1.25	1.68	1.7	1.87	1.76	1.83	1.61	1.67	1.47	1.31
Quick Ratio(x)	1.09	0.6	0.84	0.93	0.79	0.66	1.06	0.92	0.98	0.78	0.73
Interest Cover(x)	0.48	0.54	1.52	1.03	0.89	1.2	1.39	1.16	0.91	1.56	2.5
Total Debt/Mcap(x)	3.84	0.92	1.05	0.88	1.04	1.14	2.38	3.15	1.84	1.4	1.32

BF Utilities Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	55.99	56.74	56.74	56.74	56.74	56.74	56.74	56.74	56.74	56.74
FII	0.32	0.43	0.39	0.51	0.49	0.43	0.39	0.94	0.78	0.88
DII	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.13	0.1	0.1
Public	43.59	42.74	42.77	42.65	42.67	42.73	42.77	42.19	42.39	42.28
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	2.11	2.14	2.14	2.14	2.14	2.14	2.14	2.14	2.14	2.14
FII	0.01	0.02	0.01	0.02	0.02	0.02	0.01	0.04	0.03	0.03
DII	0	0	0	0	0	0	0	0	0	0
Public	1.64	1.61	1.61	1.61	1.61	1.61	1.61	1.59	1.6	1.59
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 48% CAGR over last 5 years
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 0% over the last 3 years.
Stock is trading at 23.7 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.