BF Utilities H1FY27 Results (NSE: BFUTILITIE)
Signal: Slipped to loss
The read
The trajectory has deteriorated from the prior half: revenue from operations fell 9.9% YoY to ₹1,238.17 lakh, estimated EBITDA margin collapsed to -58.8% from 88.8%, and PAT swung to a ₹755.84 lakh loss because the ₹999.57 lakh infrastructure loss overwhelmed wind profits; the absence of subsidiary accounts prevents judging the group-wide position.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹12.38 Cr | -9.9% | N/A |
| Net profit | ₹-7.56 Cr | -163.7% | |
| EPS | ₹-4.01 | -283.9% | |
| EBIT margin | -58.8% |
P&L walk
Revenue from operations declined 9.9% YoY to ₹1,238.17 lakh, while the ₹291.97 lakh wind-profit contribution was more than offset by a ₹999.57 lakh infrastructure loss, driving EBITDA to an estimated ₹-728.07 lakh and PAT to a ₹755.84 lakh loss.
Segments
Wind Mills generated ₹291.97 lakh of segment profit on ₹1,378.09 lakh of revenue, but Infrastructure dragged the group with a ₹999.57 lakh loss and nil revenue; infrastructure assets remained material at ₹14,074.10 lakh.
Key positives
- Wind Mills remained profitable at ₹291.97 lakh in H1FY27, although this was down 26.8% YoY from ₹399.29 lakh.
- Finance cost was only ₹0.24 lakh on ₹2,101.01 lakh of borrowings, limiting interest drag on the reported loss.
- Investing cash flow was positive at ₹724.09 lakh, primarily reflecting ₹443.77 lakh of fixed-deposit maturities and ₹281.64 lakh of interest received.
Key concerns
- Infrastructure produced a ₹999.57 lakh H1 segment loss versus a ₹817.40 lakh profit in H1FY26, despite ₹14,074.10 lakh of infrastructure assets.
- Operating cash flow was negative ₹695.07 lakh versus negative ₹328.30 lakh in the year-ago half, materially diverging from reported earnings quality.
- Revenue from operations declined 9.9% YoY while other expenses rose 47.1% to ₹1,927.22 lakh.
- Consolidated results remain unavailable because NICE, NECE and NHDL have not submitted their subsidiary financial results.
Research and educational content only. Not investment advice.