Cash flow BF Investment Limited

Equities

BFINVEST

INE878K01010

Investment Management & Fund Operators

Market Closed - NSE India S.E. Other stock markets 04:35:02 06/02/2026 pm IST			5-day change	1st Jan Change
399.30 ^INR	-0.20%		+4.90%	-3.11%

12/11	BF Investment Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2025	CI
14/25/14	BF Investment Limited Announces Resignation of Aarti Arun Sathe as Independent Director, Effective August 14, 2025	CI

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Published financial data: BF INVESTMENT LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	-	-	-	-	-
Gain (Loss) on Sale of Investment, Total (Rev)	9.3Cr	-91L	4.39Cr	2.81Cr	46.8L
Interest And Invest. Income (Rev)	7.11Cr	18Cr	25Cr	36Cr	59Cr
Other Revenues, Total	-	3.22Cr	2.24Cr	3.81Cr	2.74Cr
Total Revenues	16Cr	20Cr	31Cr	42Cr	62Cr
Cost of Goods Sold, Total	2L	4L	5L	4L	4L
Gross Profit	16Cr	20Cr	31Cr	42Cr	62Cr
Selling General & Admin Expenses, Total	51.7L	63.3L	1.05Cr	1.08Cr	67.4L
Depreciation & Amortization - (IS)	70.6L	63.4L	58.1L	49.7L	43.2L
Other Operating Expenses	4.78Cr	3.63Cr	4.53Cr	5.05Cr	6.49Cr
Other Operating Expenses, Total	6Cr	4.9Cr	6.16Cr	6.62Cr	7.6Cr
Operating Income	10Cr	15Cr	25Cr	36Cr	54Cr
Interest Expense, Total	-50T	-	-	-	-
Net Interest Expenses	-50T	-	-	-	-
Income (Loss) On Equity Invest.	346.67Cr	248.49Cr	318.81Cr	542.78Cr	247.21Cr
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	357.05Cr	263.5Cr	343.81Cr	578.54Cr	301.6Cr
Gain (Loss) On Sale Of Investments	-	-	-	30.6L	71.2L
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	357.05Cr	263.5Cr	343.81Cr	578.84Cr	302.31Cr
Income Tax Expense	90Cr	66Cr	85Cr	145.1Cr	80Cr
Earnings From Continuing Operations	267.03Cr	197.75Cr	259.3Cr	433.74Cr	222.29Cr
Net Income to Company	267.03Cr	197.75Cr	259.3Cr	433.74Cr	222.29Cr
Net Income - (IS)	267.03Cr	197.75Cr	259.3Cr	433.74Cr	222.29Cr
Net Income to Common Incl Extra Items	267.03Cr	197.75Cr	259.3Cr	433.74Cr	222.29Cr
Net Income to Common Excl. Extra Items	267.03Cr	197.75Cr	259.3Cr	433.74Cr	222.29Cr
Per Share Items
Net EPS - Basic	70.89	52.5	68.84	115.15	59.01
Basic EPS - Continuing Operations	70.89	52.5	68.84	115.15	59.01
Basic Weighted Average Shares Outstanding	3.77Cr	3.77Cr	3.77Cr	3.77Cr	3.77Cr
Net EPS - Diluted	70.89	52.5	68.84	115.15	59.01
Diluted EPS - Continuing Operations	70.89	52.5	68.84	115.15	59.01
Diluted Weighted Average Shares Outstanding	3.77Cr	3.77Cr	3.77Cr	3.77Cr	3.77Cr
Normalized Basic EPS	59.24	43.72	57.05	95.99	50.04
Normalized Diluted EPS	59.24	43.72	57.05	95.99	50.04
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	11Cr	16Cr	26Cr	36Cr	55Cr
EBITA	10Cr	15Cr	25Cr	36Cr	54Cr
EBIT	10Cr	15Cr	25Cr	36Cr	54Cr
EBITDAR	-	-	26Cr	37Cr	55Cr
Total Revenues (As Reported)	17Cr	20Cr	31Cr	43Cr	63Cr
Effective Tax Rate - (Ratio)	25.21	24.95	24.58	25.07	26.47
Total Current Taxes	5.04Cr	12Cr	21Cr	27Cr	32Cr
Total Deferred Taxes	85Cr	54Cr	65Cr	117.82Cr	48Cr
Normalized Net Income	223.16Cr	164.68Cr	214.88Cr	361.58Cr	188.5Cr
Interest on Long-Term Debt	40T	-	-	-	-
Non-Cash Pension Expense	-	-	-	20T	30T
Supplemental Operating Expense Items
Advertising Expense	2L	3L	2L	2L	2L
Marketing Expenses	-	-	6L	6L	7L
Selling and Marketing Expenses	2L	3L	7L	8L	9L
Net Rental Expense, Total	-	-	28.3L	28.3L	28.3L
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	2L	4L	5L	4L	4L

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	103.12Cr	1.15Cr	7.84Cr	35Cr	7.3Cr
Short Term Investments	-	138.52Cr	194.98Cr	252.07Cr	396.02Cr
Trading Asset Securities, Total	-	94Cr	99Cr	101.35Cr	74Cr
Total Cash And Short Term Investments	103.12Cr	233.82Cr	301.36Cr	388.53Cr	477.23Cr
Accounts Receivable, Total	57.3L	68.9L	1.45Cr	2.61Cr	3.37Cr
Other Receivables	-	-	-	-	-
Notes Receivable	22Cr	22Cr	24Cr	23Cr	23Cr
Total Receivables	23Cr	23Cr	25Cr	26Cr	27Cr
Inventory	-	-	-	-	-
Prepaid Expenses	2L	1L	2L	2L	27.2L
Other Current Assets, Total	27Cr	27Cr	27Cr	27Cr	27Cr
Total Current Assets	152.82Cr	283.56Cr	353.43Cr	441.17Cr	531.22Cr
Gross Property Plant And Equipment	2.95Cr	4.58Cr	4.58Cr	4.61Cr	4.64Cr
Accumulated Depreciation	-1.06Cr	-1.68Cr	-2.25Cr	-2.73Cr	-3.15Cr
Net Property Plant And Equipment	1.88Cr	2.9Cr	2.33Cr	1.88Cr	1.49Cr
Long-term Investments	3.42TCr	4.08TCr	4.74TCr	6.36TCr	7.05TCr
Goodwill	-	-	-	-	-
Other Intangibles, Total	-	-	-	-	-
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	6.82Cr	11Cr	2.71Cr	-	-
Other Long-Term Assets, Total	13Cr	13Cr	13Cr	13Cr	13Cr
Total Assets	3.6TCr	4.39TCr	5.11TCr	6.81TCr	7.6TCr
Liabilities
Accounts Payable, Total	20T	-	5L	40T	30T
Accrued Expenses, Total	79.7L	1.55Cr	2.72Cr	3.25Cr	3.81Cr
Short-term Borrowings	-	-	-	-	-
Current Portion of Leases	-	-	-	-	-
Current Income Taxes Payable	9L	37.6L	-	2.57Cr	1.23Cr
Other Current Liabilities	-	-	-	1L	30.5L
Total Current Liabilities	88.6L	1.92Cr	2.77Cr	5.84Cr	5.34Cr
Long-Term Leases	-	-	-	-	-
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	299.7Cr	353.95Cr	418.13Cr	606.48Cr	694.54Cr
Other Non Current Liabilities	-	-	-	50T	1L
Total Liabilities	300.58Cr	355.87Cr	420.91Cr	612.33Cr	699.9Cr
Common Stock, Total	19Cr	19Cr	19Cr	19Cr	19Cr
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	1.52TCr	1.72TCr	1.98TCr	2.41TCr	2.63TCr
Comprehensive Income and Other	1.76TCr	2.3TCr	2.7TCr	3.77TCr	4.25TCr
Total Common Equity	3.3TCr	4.04TCr	4.69TCr	6.2TCr	6.9TCr
Total Equity	3.3TCr	4.04TCr	4.69TCr	6.2TCr	6.9TCr
Total Liabilities And Equity	3.6TCr	4.39TCr	5.11TCr	6.81TCr	7.6TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	3.77Cr	3.77Cr	3.77Cr	3.77Cr	3.77Cr
ECS Total Common Shares Outstanding	3.77Cr	3.77Cr	3.77Cr	3.77Cr	3.77Cr
Book Value / Share	875.45	1.07T	1.25T	1.65T	1.83T
Tangible Book Value	3.3TCr	4.04TCr	4.69TCr	6.2TCr	6.9TCr
Tangible Book Value Per Share	875.45	1.07T	1.25T	1.65T	1.83T
Total Debt	0	0	0	0	0
Net Debt	-103.12Cr	-233.82Cr	-301.36Cr	-388.53Cr	-477.23Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	30T	70T
Debt Equivalent Oper. Leases	-	-	2.26Cr	2.26Cr	2.26Cr
Equity Method Investments, Total	2.14TCr	2.53TCr	3.07TCr	4.05TCr	4.62TCr
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	-	-	-	-	-
Inventories - Others	-	-	-	-	-
Land - (BS)	-	-	-	-	-
Buildings, Total	-	-	-	-	-
Machinery, Total	2.95Cr	4.58Cr	4.58Cr	4.61Cr	4.64Cr
Full Time Employees	2	2	2	2	2
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	14.5L	14.5L	14.5L	14.5L	14.5L

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	267.03Cr	197.75Cr	259.3Cr	433.74Cr	222.29Cr
Depreciation & Amortization - CF	70.6L	63.4L	58.1L	49.7L	43.2L
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	70.6L	63.4L	58.1L	49.7L	43.2L
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-9.3Cr	91L	-4.39Cr	-2.81Cr	-46.8L
Provision for Credit Losses	-	-3.22Cr	-2.24Cr	-3.81Cr	-2.74Cr
(Income) Loss On Equity Investments - (CF)	-346.67Cr	-248.49Cr	-318.81Cr	-542.78Cr	-247.21Cr
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	84Cr	54Cr	64Cr	120.39Cr	47Cr
Change In Accounts Receivable	-	-	-	-	-
Change In Inventories	-	-	-	-	-
Change In Accounts Payable	-3L	-20T	5L	-4L	-10T
Change in Other Net Operating Assets	-2.14Cr	3.92Cr	1.29Cr	3.9Cr	2.35Cr
Cash from Operations	-6.17Cr	5.54Cr	-18.5L	9.09Cr	21Cr
Capital Expenditure	-1.86Cr	-1.64Cr	-	-3L	-3L
Sale of Property, Plant, and Equipment	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-95.5L	-58Cr	-56Cr	-57Cr	-123.01Cr
Other Investing Activities, Total	15Cr	33Cr	63Cr	75Cr	74Cr
Cash from Investing	13Cr	-27Cr	6.88Cr	18Cr	-49Cr
Short Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-	-	-	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-	-	-	-	-
Net Change in Cash	6.34Cr	-21Cr	6.7Cr	27Cr	-28Cr
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	5.17Cr	12Cr	20Cr	25Cr	33Cr
Levered Free Cash Flow	63.59L	9.37Cr	15Cr	25Cr	33Cr
Unlevered Free Cash Flow	63.9L	9.37Cr	15Cr	25Cr	33Cr
Change In Net Working Capital	4.7Cr	-99.6L	1.48Cr	-2.49Cr	1.84Cr
Net Debt Issued / Repaid	-	-	-	-	-

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.23	0.23	0.33	0.37	0.47
Return on Total Capital	0.26	0.26	0.36	0.41	0.52
Return On Equity %	10.66	5.39	5.94	7.96	3.39
Return on Common Equity	10.66	5.39	5.94	7.96	3.39
Margin Analysis
Gross Profit Margin %	99.85	99.81	99.84	99.9	99.94
SG&A Margin	3.15	3.17	3.35	2.54	1.09
EBITDA Margin %	66.61	78.42	81.97	85.46	88.39
EBITA Margin %	63.28	75.24	80.11	84.29	87.69
EBIT Margin %	63.28	75.24	80.11	84.29	87.69
Income From Continuing Operations Margin %	1.63T	991.63	830.88	1.02T	358.36
Net Income Margin %	1.63T	991.63	830.88	1.02T	358.36
Net Avail. For Common Margin %	1.63T	991.63	830.88	1.02T	358.36
Normalized Net Income Margin	1.36T	825.82	688.55	852.29	303.89
Levered Free Cash Flow Margin	3.87	46.99	47.19	59.66	52.48
Unlevered Free Cash Flow Margin	3.89	46.99	47.19	59.66	52.48
Asset Turnover
Asset Turnover	0.01	0	0.01	0.01	0.01
Fixed Assets Turnover	12.59	8.34	11.93	20.16	36.81
Receivables Turnover (Average Receivables)	-	-	-	-	-
Inventory Turnover (Average Inventory)	-	-	-	-	-
Short Term Liquidity
Current Ratio	172.48	147.38	127.45	75.59	99.39
Quick Ratio	117.03	121.89	109.2	67.02	89.92
Operating Cash Flow to Current Liabilities	-6.96	2.88	-0.07	1.56	3.97
Days Sales Outstanding (Average Receivables)	-	-	-	-	-
Days Outstanding Inventory (Average Inventory)	-	-	-	-	-
Average Days Payable Outstanding	273.75	-	-	236.56	31.94
Cash Conversion Cycle (Average Days)	-	-	-	-	-
Long Term Solvency
Total Debt/Equity	-	-	-	-	-
Total Debt / Total Capital	-	-	-	-	-
LT Debt/Equity	-	-	-	-	-
Long-Term Debt / Total Capital	-	-	-	-	-
Total Liabilities / Total Assets	8.35	8.1	8.24	8.99	9.21
EBIT / Interest Expense	2.08T	-	-	-	-
EBITDA / Interest Expense	2.22T	-	-	-	-
(EBITDA - Capex) / Interest Expense	1.85T	-	-	-	-
Total Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-9.3	-14.95	-11.78	-10.72	-8.7
Total Debt / (EBITDA - Capex)	-	-	-	-	-
Net Debt / (EBITDA - Capex)	-11.17	-16.7	-11.78	-10.72	-8.71
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-25.86	21.52	56.49	35.96	46.21
Gross Profit, 1 Yr. Growth %	-25.57	21.48	56.53	36.04	46.26
EBITDA, 1 Yr. Growth %	-29.77	43.07	63.58	41.73	51.21
EBITA, 1 Yr. Growth %	-32.77	44.49	66.62	43.04	52.11
EBIT, 1 Yr. Growth %	-32.77	44.49	66.62	43.04	52.11
Earnings From Cont. Operations, 1 Yr. Growth %	85.02	-25.94	31.12	67.27	-48.75
Net Income, 1 Yr. Growth %	85.02	-25.94	31.12	67.27	-48.75
Normalized Net Income, 1 Yr. Growth %	53.02	-26.2	30.48	68.27	-47.87
Diluted EPS Before Extra, 1 Yr. Growth %	85.02	-25.94	31.12	67.27	-48.75
Accounts Receivable, 1 Yr. Growth %	21.91	20.03	110.89	79.56	29.25
Inventory, 1 Yr. Growth %	-	-	-	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	160.94	53.87	-19.59	-19.43	-20.55
Total Assets, 1 Yr. Growth %	86.4	22.11	16.33	33.39	11.54
Tangible Book Value, 1 Yr. Growth %	92.73	22.44	16.15	32.22	11.27
Common Equity, 1 Yr. Growth %	92.73	22.44	16.15	32.22	11.27
Cash From Operations, 1 Yr. Growth %	101.77	-189.87	-103.34	-5.01T	133.71
Capital Expenditures, 1 Yr. Growth %	-	-11.75	-	-	6.67
Levered Free Cash Flow, 1 Yr. Growth %	-103.83	1.38T	57.17	71.84	28.62
Unlevered Free Cash Flow, 1 Yr. Growth %	-103.86	1.37T	57.17	71.84	28.62
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-8.95	-5.08	37.9	45.86	40.99
Gross Profit, 2 Yr. CAGR %	-9.02	-4.91	37.89	45.92	41.06
EBITDA, 2 Yr. CAGR %	-15.72	0.24	52.98	52.27	46.4
EBITA, 2 Yr. CAGR %	-17.53	-1.44	55.16	54.38	47.5
EBIT, 2 Yr. CAGR %	-17.53	-1.44	55.16	54.38	47.5
Earnings From Cont. Operations, 2 Yr. CAGR %	45.32	17.06	-1.46	48.1	-7.41
Net Income, 2 Yr. CAGR %	45.32	17.06	-1.46	48.1	-7.41
Normalized Net Income, 2 Yr. CAGR %	56.16	6.27	-1.87	48.18	-6.34
Diluted EPS Before Extra, 2 Yr. CAGR %	45.32	17.06	-1.46	48.1	-7.41
Accounts Receivable, 2 Yr. CAGR %	20.75	21.08	59.1	94.59	52.23
Inventory, 2 Yr. CAGR %	-	-	-	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	68.32	100.38	11.23	-19.51	-20
Total Assets, 2 Yr. CAGR %	27.92	50.87	19.18	24.53	21.97
Tangible Book Value, 2 Yr. CAGR %	26.76	53.62	19.26	23.93	21.29
Common Equity, 2 Yr. CAGR %	26.76	53.62	19.26	23.93	21.29
Cash From Operations, 2 Yr. CAGR %	-49.88	34.66	-82.68	28.04	971.5
Capital Expenditures, 2 Yr. CAGR %	-	-	-	-86.46	-
Levered Free Cash Flow, 2 Yr. CAGR %	-78.46	-24.83	381.65	64.35	48.67
Unlevered Free Cash Flow, 2 Yr. CAGR %	-78.42	-24.75	380.46	64.35	48.67
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	12.18	0.25	12.13	37.25	45.97
Gross Profit, 3 Yr. CAGR %	12.25	0.18	12.28	37.27	46.03
EBITDA, 3 Yr. CAGR %	9.58	0.54	18.02	49.14	51.92
EBITA, 3 Yr. CAGR %	9.56	-0.58	17.41	51.01	53.62
EBIT, 3 Yr. CAGR %	9.56	-0.58	17.41	51.01	53.62
Earnings From Cont. Operations, 3 Yr. CAGR %	18.67	16.08	21.57	17.55	3.98
Net Income, 3 Yr. CAGR %	18.67	16.08	21.57	17.55	3.98
Normalized Net Income, 3 Yr. CAGR %	20.48	21.63	13.79	17.45	4.61
Diluted EPS Before Extra, 3 Yr. CAGR %	18.67	16.08	21.57	17.55	3.98
Accounts Receivable, 3 Yr. CAGR %	-23.57	20.58	45.68	65.65	69.7
Net Property, Plant and Equip., 3 Yr. CAGR %	10.84	63.36	47.8	-0.11	-19.86
Total Assets, 3 Yr. CAGR %	11.82	25.95	38.34	23.72	20.04
Tangible Book Value, 3 Yr. CAGR %	10.57	25.3	39.95	23.43	19.56
Common Equity, 3 Yr. CAGR %	10.57	25.3	39.95	23.43	19.56
Cash From Operations, 3 Yr. CAGR %	42.34	-39.11	-60.74	13.79	56.48
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-74.71	-73.06
Levered Free Cash Flow, 3 Yr. CAGR %	-82.34	-11.91	-3.88	241.61	51.45
Unlevered Free Cash Flow, 3 Yr. CAGR %	-82.31	-11.94	-3.81	241.05	51.45
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-55.47	-54.51	21.84	16.47	22.89
Gross Profit, 5 Yr. CAGR %	-36.72	-35.83	21.88	16.45	23.01
EBITDA, 5 Yr. CAGR %	-32.15	-27.37	25.22	18.7	28.64
EBITA, 5 Yr. CAGR %	-29.79	-24.8	25.93	18.56	28.63
EBIT, 5 Yr. CAGR %	-29.61	-24.8	25.93	18.56	28.63
Earnings From Cont. Operations, 5 Yr. CAGR %	15.1	7.88	10.17	27.96	9.02
Net Income, 5 Yr. CAGR %	15.1	7.88	10.17	27.96	9.02
Normalized Net Income, 5 Yr. CAGR %	19.02	11.14	10.98	31.63	5.27
Diluted EPS Before Extra, 5 Yr. CAGR %	15.1	7.89	10.17	27.96	9.02
Accounts Receivable, 5 Yr. CAGR %	-67.86	-67.94	2.52	46.02	48.26
Inventory, 5 Yr. CAGR %	-	-	-	-	-
Net Property, Plant and Equip., 5 Yr. CAGR %	-51.16	-45.81	10.99	23.08	15.62
Total Assets, 5 Yr. CAGR %	25.42	27.22	14.71	25.38	31.53
Tangible Book Value, 5 Yr. CAGR %	26.98	28.7	13.96	24.75	32.17
Common Equity, 5 Yr. CAGR %	26.97	28.69	13.96	24.75	32.17
Cash From Operations, 5 Yr. CAGR %	124.65	-35.76	-38.71	-18.03	47.36
Capital Expenditures, 5 Yr. CAGR %	-53.51	-30.18	-	-	-
Levered Free Cash Flow, 5 Yr. CAGR %	-65.71	-26.61	-33.74	13.05	14.44
Unlevered Free Cash Flow, 5 Yr. CAGR %	-65.62	-26.7	-33.75	13.03	14.49