BF Utilities Ltd.

BSE: BFUTILITIE532430ISIN INE243D01012

Services
Road Assets–Toll, Annuity, Hybrid-Annuity
BSE Services

Share price

₹448.45+22.15 (+5.20%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹729.80
52W low: ₹369.00
Off 52W high: -38.55%
1M return: -9.64%
3M return: -20.04%
6M return: -26.49%
1Y return: -37.02%
20D avg volume: 2,726
50 DMA: ₹491.83
200 DMA: ₹529.71

Key ratios Consolidated

Market cap: ₹1,689 Cr
Current price: ₹448.45
52W high / low: ₹729.80 / ₹369.00
Face value: ₹5.00
P/E: 4.97
P/B: 4.80
EPS (TTM): ₹90.30
Book value / share: ₹93.36
ROE: —
ROCE: 26.40%
Operating margin: —
Net margin: —
Debt / equity: 0.57
Net debt: ₹670.64 Cr
Interest cover: 7.26
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 100.7 days

Financials

Metric	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24
Income statement
	269.81	234.97	231.63	211.57	208.21	209.84	221.34	197.45	242.20	245.53	218.41	263.18
	22.73	8.63	6.91	6.23	6.53	6.51	6.47	5.35	4.61	5.14	5.23	4.24
	292.54	243.60	238.54	217.80	214.74	216.34	227.81	202.81	246.81	250.67	223.64	267.42
	226.09	92.17	92.16	83.92	101.26	102.35	102.23	95.01	138.19	149.35	121.55	187.51
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	19.25	19.78	18.46	17.45	15.95	17.41	22.14	20.47	16.00	18.99	16.70	17.50
	19.44	18.71	19.58	21.70	23.67	27.69	30.11	31.60	32.48	35.21	36.00	38.20
	44.46	17.65	17.60	17.36	16.66	17.63	18.15	17.87	17.53	17.45	16.39	14.65
	142.94	36.03	36.52	27.38	44.95	39.64	24.80	24.19	21.43	21.23	24.96	20.60
	66.45	151.43	146.37	133.89	113.48	114.00	125.58	107.79	108.61	101.33	102.09	79.91
	1.29	-2.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	67.74	149.25	146.37	133.89	113.48	114.00	125.58	107.79	108.61	101.33	102.09	79.91
	25.39	46.49	47.95	37.30	29.93	30.07	34.58	28.42	28.82	25.29	14.99	19.33
	42.36	102.76	98.42	96.59	83.55	83.93	91.01	79.37	79.79	76.04	87.11	60.58
	3.95	11.05	11.28	10.19	9.48	9.21	10.39	9.82	9.91	9.91	11.27	8.03
Key metrics
	131.64	185.61	183.55	172.95	153.81	159.32	173.84	157.26	158.62	153.99	154.48	132.76
	48.80%	79.00%	79.20%	81.70%	73.90%	75.90%	78.50%	79.60%	65.50%	62.70%	70.70%	50.40%
	15.70%	43.70%	42.50%	45.70%	40.10%	40.00%	41.10%	40.20%	32.90%	31.00%	39.90%	23.00%
	4.00%	—	7.80%	—	6.70%	—	—	—	—	—	—	—
	29.60%	12.00%	4.60%	7.20%	-14.00%	-14.50%	1.30%	-25.00%	—	—	—	—
	-49.30%	22.40%	8.10%	21.70%	4.70%	10.40%	4.50%	31.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	947.98	947.98	836.84	969.32	759.12	513.09
	44.50	44.50	24.86	19.22	16.78	21.12
	992.48	992.48	861.70	988.53	775.89	534.21
	494.34	494.33	400.85	596.60	502.00	431.12
	0.00	0.00	0.00	—	0.73	—
	0.00	0.00	0.00	—	—	—
	74.94	74.95	75.97	69.19	58.95	52.94
	79.43	79.43	113.07	141.89	183.03	182.93
	97.07	97.07	70.31	66.02	58.00	55.15
	242.87	242.88	141.49	88.22	201.28	139.97
	498.14	498.14	460.85	391.94	273.90	103.08
	-0.89	-0.89	0.00	0.00	0.00	0.00
	497.25	497.25	460.85	391.94	273.90	103.08
	157.13	157.13	123.00	88.43	17.25	9.95
	340.13	340.12	337.85	303.51	256.65	93.14
	36.47	36.48	38.89	39.12	33.03	13.49
Key metrics
	673.75	673.75	644.23	599.85	514.93	341.16
	71.07%	71.10%	77.00%	61.90%	67.80%	66.50%
	35.88%	35.90%	40.40%	31.30%	33.80%	18.20%
	—	26.40%	28.00%	—	—	—
	13.28%	13.30%	-13.70%	27.70%	48.00%	—
	0.67%	0.70%	11.30%	18.30%	175.60%	—
	—	524.69	507.09	—	—	—
	—	1.87	1.60	—	—	—
	—	0.57	0.97	—	—	—
	—	670.64	873.32	—	—	—
	—	100.7	106.2	—	—	—
Balance sheet
	—	2,676	2,429	—	—	—
	—	884.41	626.22	—	—	—
	—	75.18	58.45	—	—	—
	—	2.79	6.23	—	—	—
	—	300.22	272.62	—	—	—
	—	7.85	6.18	—	—	—
	—	25.51	26.86	—	—	—
	—	41.50	35.26	—	—	—
	—	487.48	382.61	—	—	—
	—	745.82	931.77	—	—	—
	—	151.53	136.93	—	—	—
	—	594.29	794.84	—	—	—
	—	1,308	955.78	—	—	—
Cash flow
	—	637.10	539.86	—	—	—
	—	-365.71	-44.79	—	—	—
	—	-254.66	-486.86	—	—	—
	—	112.41	32.77	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	5.88	1.67	3.46	7.97	5.77	2.37	1.84	8.92	5.45	2.38	1.37	10.29
	0.72	0.84	1.08	1.07	11.49	0.99	1.02	1.54	19.55	14.55	0.60	0.55
	6.60	2.51	4.53	9.05	17.25	3.35	2.86	10.47	25.00	16.93	1.97	10.84
	11.61	7.15	5.13	6.47	7.96	3.09	3.22	8.31	5.56	3.68	2.95	9.33
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	1.11	0.59	1.06	0.43	0.55	0.50	0.48	0.93	0.43	0.43	0.41	0.76
	0.00	0.00	0.00	0.00	0.00	0.00	—	0.00	0.00	0.00	0.00	0.00
	0.14	0.14	0.16	0.17	0.17	0.17	0.17	0.17	0.18	0.18	0.18	0.18
	10.36	6.43	3.91	5.87	7.23	2.39	2.59	7.21	4.96	3.07	2.37	8.39
	-5.01	-4.64	-0.60	2.58	9.29	0.26	-0.36	2.16	19.44	13.24	-0.98	1.51
	0.00	1.29	-2.18	0.00	0.00	0.00	—	—	—	—	—	—
	-5.01	-3.35	-2.78	2.58	9.29	0.26	-0.36	2.16	19.44	13.24	-0.98	1.51
	0.02	0.29	0.44	0.79	2.87	0.19	0.26	3.13	1.94	3.87	0.26	0.05
	-5.03	-3.64	-2.33	1.79	6.42	0.07	-0.62	-0.97	17.50	9.38	-0.72	1.47
	-1.34	-0.97	-0.62	0.47	1.70	0.02	-0.16	-0.26	4.65	2.49	-0.19	0.39
Key metrics
	-4.87	-3.21	-2.62	2.75	9.46	0.43	-0.19	2.33	19.62	13.42	-0.80	1.69
	-82.80%	-192.20%	-75.70%	34.50%	164.00%	18.10%	-10.30%	26.10%	360.00%	563.90%	-58.40%	16.40%
	-85.50%	-218.00%	-67.30%	22.50%	111.30%	3.00%	-33.70%	-10.90%	321.10%	394.10%	-52.60%	14.30%
	—	-1.80%	—	1.30%	—	0.10%	—	—	—	—	—	—
	1.90%	-29.50%	88.00%	-10.70%	5.90%	-0.40%	34.30%	-13.30%	—	—	—	—
	-178.30%	-5,300.00%	-275.80%	284.50%	-63.30%	-99.30%	13.90%	-166.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	18.98	18.86	18.58	19.40	18.03	18.38
	3.71	14.48	23.10	16.19	8.58	6.59
	22.69	33.34	41.68	35.59	26.61	24.97
	30.36	26.72	20.18	21.90	19.84	20.38
	0.00	0.00	0.00	—	—	—
	0.00	0.00	0.00	—	—	—
	3.19	2.63	2.33	2.01	1.95	1.87
	0.00	0.00	0.00	0.00	0.03	0.21
	0.61	0.64	0.68	0.71	0.71	2.02
	26.57	23.44	17.15	19.19	17.15	16.25
	-7.67	6.63	21.50	13.69	6.77	4.59
	-0.89	-0.89	0.00	—	—	—
	-8.56	5.74	21.50	13.69	6.77	4.59
	1.54	3.50	5.52	3.60	0.99	1.76
	-9.21	2.23	15.98	10.09	5.77	2.83
	-2.46	0.59	4.24	2.68	1.53	0.75
Key metrics
	-7.95	6.38	22.18	14.40	7.51	6.82
	-41.89%	33.80%	119.40%	74.20%	41.70%	37.10%
	-48.52%	11.80%	86.00%	52.00%	32.00%	15.40%
	—	3.10%	11.60%	—	—	—
	0.42%	1.50%	-4.20%	7.60%	-1.90%	—
	-287.96%	-86.00%	58.40%	74.90%	103.90%	—
	—	-11.45	-23.74	—	—	—
	—	-5.13	-1.48	—	—	—
	—	0.00	0.06	—	—	—
	—	-0.23	10.03	—	—	—
	—	-60.7	-63.4	—	—	—
Balance sheet
	—	201.97	208.50	—	—	—
	—	48.44	38.32	—	—	—
	—	0.23	0.47	—	—	—
	—	0.00	0.00	—	—	—
	—	0.04	0.04	—	—	—
	—	0.93	0.51	—	—	—
	—	1.89	2.52	—	—	—
	—	3.18	3.27	—	—	—
	—	14.32	23.17	—	—	—
	—	0.00	10.50	—	—	—
	—	0.00	10.50	—	—	—
	—	0.00	0.00	—	—	—
	—	166.58	164.29	—	—	—
Cash flow
	—	-11.45	-23.68	—	—	—
	—	21.71	24.95	—	—	—
	—	-10.50	-2.50	—	—	—
	—	0.00	0.06	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +1.51%
Sales CAGR 5Y: —
Profit CAGR 3Y: -27.16%
Profit CAGR 5Y: —
Sales YoY (TTM): +0.42%
Profit YoY (TTM): -287.96%

Consolidated

Sales CAGR 3Y: +7.69%
Sales CAGR 5Y: —
Profit CAGR 3Y: +9.84%
Profit CAGR 5Y: —
Sales YoY (TTM): +13.28%
Profit YoY (TTM): +0.67%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 56.74%

Quarter	September 2026	June 2026
Promoter %	56.74%	56.74%

Holder	Type	Holding	Previous	Change
Ajinkya Investment And Trading Company	Promoter Group	17.65%	17.65%	0.00%
Kalyani Investment Company Limited	Promoter Group	16.45%	16.45%	0.00%
Ksl Holdings Private Limited	Promoter Group	11.56%	11.56%	0.00%
Krutadnya Management And Trading Services LLP	Public	3.98%	3.98%	0.00%
Pih Finvest Company Limited	Promoter Group	3.78%	3.78%	0.00%
Bf Investment Limited	Promoter Group	3.15%	3.15%	0.00%
Hirak Leasing And Investments Pvt Ltd	Public	1.70%	1.70%	0.00%
Jannhavi Investment Private Limited	Promoter Group	1.22%	1.22%	0.00%
Stock Planet Private Limited	Public	1.03%	1.03%	0.00%
Radhakishan Shivkishan Damani	Public	1.01%	1.01%	0.00%
Sundaram Trading And Investment Pvt Ltd	Promoter Group	0.64%	0.64%	0.00%
Rajgad Trading Company Pvt.Ltd	Promoter Group	0.40%	0.40%	0.00%
Kalyani Consultants Pvt.Ltd.	Promoter Group	0.40%	0.40%	0.00%
Kalyani Exports & Investments Pvt.Ltd.	Promoter Group	0.39%	0.39%	0.00%
Aboli Investment Pvt Ltd	Promoter Group	0.36%	0.36%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
BF Utilities Ltd.	1,689	448.45	4.97	26.40%	+13.28% TTM	+0.67% TTM	-37.02%
Innovision Limited	629	264.00	—	19.50%	—	—	—
Highway Infrastructure Limited	520	72.48	20.25	20.00%	—	—	-6.07%
ATLANTAA LIMITED S	312	38.25	-765.00	1.70%	-8.07% TTM	-100.79% TTM	-17.58%
Noida Toll Bridge Company Ltd	64	3.43	2.25	398.10%	+7.29% TTM	+112.11% TTM	-20.60%
GAYATRI HIGHWAYS LTD	46	1.91	-23.64	13.90%	+439.65% TTM	-100.16% TTM	-51.28%
MEP Infrastructure Developers Limited	11	0.62	—	-207.70%	-70.08% TTM	-310.89% TTM	-77.86%

Filings & corporate actions

Recent announcements

Business Responsibility and Sustainability Report for FY 2025-264 Nov 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Annual Report for FY 2025-264 Nov 2026 · Others / Reg. 34 (1) Annual Report
Notice and Annual Report of the 26th Annual General Meeting to be held on Saturday, November 28, 20264 Nov 2026 · AGM/EGM / AGM
BF Utilities Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 06/11/2026 ,inter alia, to consider and approve Unaudited Standalone Financial ....2 Nov 2026 · Board Meeting / Board Meeting
Newspaper publication for intimation of AGM30 Oct 2026 · Company Update / Newspaper Publication
Intimation of Book closure for AGM to be held on November 28, 202629 Oct 2026 · Corp. Action / Book Closure
Intimation of 26th Annual General Meeting29 Oct 2026 · AGM/EGM / AGM
Appointment of Mr. Ajay Kirtane (DIN: 02711040) as Non-Executive, Independent Director of the Company19 Oct 2026 · Company Update / Change in Management
Voting results and scrutiniser''s report19 Oct 2026 · AGM/EGM / Postal Ballot
Proceedings of the postal ballot notice dated September 07, 202617 Oct 2026 · AGM/EGM / Postal Ballot
Certificate under Reg 74(5) of SEBI Regulations 20186 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Copy of newspaper publication for another special window for relodgement of transfer requests of physical shares6 Oct 2026 · Company Update / Newspaper Publication
Copy of newspaper publication1 Oct 2026 · Company Update / Newspaper Publication
Comments of Board30 Sep 2026 · Company Update / General
Comments of Board30 Sep 2026 · Company Update / General
Re-appointment of Mr. B. S. Mitkari, as Director of the Company, liable to retire by rotation, subject to the approval at the ensuing 26th Annual General Meeting of the Company30 Sep 2026 · Company Update / Change in Management
Completion of first term of M/s G. D. Apte and Co., Statutory Auditor30 Sep 2026 · Company Update / Change in Management
Appointment of Kirtane and Pandit LLP as Statutory Auditor for a term of 5 years30 Sep 2026 · Company Update / Appointment of Statutory Auditor/s
Audited Consolidated Financial Results for the quarter and year ended March 31, 202630 Sep 2026 · Result / Financial Results
Audited Consolidated Financial Results for the quarter and year ended March 31, 202630 Sep 2026 · Board Meeting / Outcome of Board Meeting
Announcement under Reg 30- intimation of fine29 Sep 2026 · Company Update / General
BF Utilities Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/09/2026 ,inter alia, to consider and approve Audited Consolidated financial ....24 Sep 2026 · Board Meeting / Board Meeting
Closure of trading window for the quarter and half year ended September 30, 202624 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Reg 30- fine paid16 Sep 2026 · Company Update / General
Copy of newspaper publication w.r.t postal ballot16 Sep 2026 · Company Update / Newspaper Publication
Reg 30- General announcement- intimation of fine15 Sep 2026 · Company Update / General
Notice of postal ballot for appointment of Mr. Ajay Kirtane as Independent Director.15 Sep 2026 · AGM/EGM / Postal Ballot
Regulation 30 of SEBI LODR- intimation of fine11 Sep 2026 · Company Update / General
Appointment of Mr. Ajay Kirtane as additional Independent Director7 Sep 2026 · Company Update / Change in Directorate
Appointment of Mr..Ajay Kirtane as Additional Independent Director of the Company7 Sep 2026 · Company Update / Change in Management
Appointment of Independent Director7 Sep 2026 · Company Update / General
Reg 30- Intimation of fine26 Aug 2026 · Company Update / General
Extension of time for holding AGM for the financial year ended March 31, 202620 Aug 2026 · Company Update / General
Copy of newspaper publication for Standalone Unaudited Financial Results for the quarter ended June 30, 202615 Aug 2026 · Company Update / Newspaper Publication
Copy of newspaper publication for Standalone Unaudited Financial Results for the quarter ended June 30, 202615 Aug 2026 · Company Update / Newspaper Publication
Board comments on fine levied by exchange14 Aug 2026 · Company Update / General
Update on consolidated Financial results for the quarter ended June 30, 202614 Aug 2026 · Company Update / General
Unaudited Standalone Financial Results for the quarter ended June 30, 202614 Aug 2026 · Result / Financial Results
Unaudited Standalone Financial Results for the quarter ended June 30, 202614 Aug 2026 · Board Meeting / Outcome of Board Meeting
Copy of Newspaper publication for another special window for re-lodgement of transfer requests for physical shares13 Aug 2026 · Company Update / Newspaper Publication

Board meetings

6 Nov 2026 Board Meeting - Financial Results
30 Sep 2026 Board Meeting - Financial Results
14 Aug 2026 Board Meeting - Financial Results