As of 6 Nov 2026, BF Utilities trades at 12.1× trailing earnings, below the industry P/E of 13.5×, and the shares are 39% below their 52-week high. Sales and net profit grew 7.7% and 3.4% a year over 3 years, with ROCE of 26% and ROE of 39%. It is a small-cap company with a market cap of ₹1,660 Cr, ranked 4th of 17 Infrastructure Operations companies by market cap; the shares fell 36% over the past year.
- ₹451.50
- ₹457.00
- ₹436.00
- ₹457.00
- 55.2K
Health check
- ReturnsBehind
−35.7% over a year, better than 1 of 7 peers.
- Price tagIn line
P/E 12.1 vs industry 13.5.
- GrowthSlow
Sales +7.7%, profit +3.4% a year over 3 years.
- ProfitabilityStrong
ROCE 26.4% vs peer median 24.1%.
- Balance sheetFair
Piotroski 7 of 9.
- Red flags2 to check
Quarterly profit down 58.3% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,660 Cr
- Small cap
- P/E
- 12.1
- Industry 13.5
- Price to book
- 8.24
- Peers 1.79
- Dividend yield
- 0.00%
- ROE
- 38.9%
- Peers 18.8%
- ROCE
- 26.4%
- Peers 24.1%
- Debt to equity
- n/a
- EPS (TTM)
- ₹36.48
- Face value ₹5
- OPM (TTM)
- 66.5%
- Net margin 17.9%
- Sales growth
- +29.6%
- Latest quarter vs a year ago
- Profit growth
- −58.3%
- Latest quarter vs a year ago
- Price to sales
- 1.87
Strengths and risks
Strengths
- Return on equity of 38.9%.
- Return on capital employed of 26.4%.
- Quarterly sales up 29.6% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly profit down 58.3% on a year ago.
- 39% below its 52-week high.
About BF Utilities
BF Utilities Limited, together with its subsidiaries, engages in the infrastructure business in India. The company develops the Bangalore Mysore Infrastructure Corridor Project and operates a 30 kilometers bypass road connecting the twin cities of Hubli and Dharwad in North Karnataka. In addition, the company involved in electricity generation through windmills. The company was incorporated in 2000 and is based in Pune, India.
- Headquarters
- Pune
- Employees
- 7
- Sector
- Industrials
- ISIN
- INE243D01012
- Website
- bfutilities.com
Price range
- Avg volume (3M)
- 1.4 L
- 1-year return
- minus 35.7%
- From 52-week high
- minus 39.0%
Peers · Infrastructure Operations
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| IRBIRB Infrastructure Developers | 17.02 | minus 0.93% | 20,557 | 19.1 | 13.5 | 5.8% | 43.7% | 0.94 | −0.4% | minus 23.1% |
| LCCPROJECTLCC Projects | 134.78 | plus 0.25% | 3,904 | 13.1 | 9.0 | 45.2% | 14.0% | 0.69 | 43.1% | minus 20.8% |
| TECHNOCRAFTechnocraft Ventures | 510.30 | plus 0.95% | 2,021 | 45.2 | 29.6 | 35.1% | 18.9% | 0.55 | 24.6% | plus 64.0% |
| BFUTILITIEBF Utilities | 440.75 | minus 3.56% | 1,660 | 12.1 | 2.9 | 26.4% | 66.5% | – | 7.7% | minus 35.7% |
| HILINFRAHighway Infrastructure | 72.05 | plus 0.53% | 517 | 19.4 | 19.6 | 19.4% | 2.3% | 0.45 | 10.1% | minus 7.2% |
| MARKOLINESMarkolines Pavement Technologies | 164.28 | minus 4.67% | 365 | 13.5 | 7.4 | – | 10.2% | 0.43 | 9.2% | plus 4.3% |
| ATLANTAAATLANTAA | 35.16 | minus 4.84% | 287 | – | 12.4 | 3.0% | 41.3% | 1.48 | 13.0% | minus 20.5% |
| ANNUAnnu Projects | 38.20 | minus 3.46% | 250 | 7.6 | 5.7 | 28.8% | 15.4% | 0.34 | 22.9% | minus 49.5% |
| Median of 7 peers | – | −0.93% | 517 | 16.3 | 12.4 | 24.1% | 15.4% | 0.55 | 13.0% | −20.5% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 |
|---|---|---|---|---|---|
| 208 | 212 | 232 | 235 | 270 | |
| 60.9 | 44.9 | 55 | 55.8 | 162 | |
| 147 | 167 | 177 | 179 | 108 | |
| 70.7% | 78.8% | 76.3% | 76.2% | 39.9% | |
| 6.5 | 6.2 | 6.9 | 8.6 | 22.7 | |
| 23.7 | 21.7 | 19.6 | 18.7 | 19.4 | |
| 16.7 | 17.4 | 17.6 | 17.7 | 44.5 | |
| – | – | – | −2.2 | 1.3 | |
| 113 | 134 | 146 | 149 | 67.7 | |
| 26.4% | 27.9% | 32.8% | 31.2% | 37.5% | |
| 35.7 | 38.4 | 42.5 | 41.6 | 14.9 | |
| 9.48 | 10.19 | 11.28 | 11.05 | 3.95 |
Profit & loss
- Sales CAGR 3Y
- +7.7%
- Profit CAGR 3Y
- +3.4%
- EPS CAGR 3Y
- +3.4%
- ROE
- 38.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 759 | 969 | 837 | 948 | |
| – | +27.6% | minus 13.6% | +13.3% | |
| 261 | 388 | 217 | 318 | |
| 498 | 581 | 619 | 630 | |
| 65.6% | 59.9% | 74.0% | 66.5% | |
| 3 | 6.7 | 24.9 | 44.5 | |
| 174 | 133 | 113 | 79.4 | |
| 58 | 66 | 70.3 | 97.1 | |
| 4.8 | 3.9 | – | −0.9 | |
| 274 | 392 | 461 | 497 | |
| 6.3% | 22.6% | 26.7% | 31.6% | |
| 124 | 147 | 146 | 137 | |
| – | +18.4% | minus 0.6% | minus 6.2% | |
| 33.03 | 39.12 | – | 36.48 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 18.8 | 18.8 | 18.8 | 18.8 | |
| −111 | 36.5 | 183 | 333 | |
| 1,482 | 1,298 | 932 | 746 | |
| 846 | 1,074 | 1,296 | 1,578 | |
| 2,237 | 2,427 | 2,429 | 2,676 | |
| 521 | 516 | 459 | 35.4 | |
| 503 | 491 | 432 | 9.8 | |
| 6.7 | 8.1 | 30 | 41.5 | |
| 230 | 249 | 266 | 549 | |
| 976 | 1,164 | 1,242 | 2,040 | |
| 2,237 | 2,427 | 2,429 | 2,676 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 436 | 583 | 540 | 637 | |
| −40.3 | −245 | −44.8 | −366 | |
| −354 | −338 | −487 | −255 | |
| 41.4 | 0.6 | 8.2 | 16.7 | |
| −113 | −243 | −32.8 | −112 | |
| 323 | 340 | 507 | 525 |
Shareholding pattern
- Promoters56.72%
- Public43.28%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 56.72% | 43.28% | 0.00 | |
| 30 Jun 2026 | 56.72% | 43.28% | 0.00 | |
| 31 Mar 2026 | 56.72% | 43.28% | 0.00 | |
| 31 Dec 2025 | 56.72% | 43.28% | 0.00 | |
| 30 Sep 2025 | 56.72% | 43.28% | – |
Major shareholders
Filings & events
News
No recent news coverage found.