BF Utilities Q1 FY27 Results (NSE: BFUTILITIE)
Signal: Slipped to loss
The read
The earnings trajectory has sharply reversed: revenue was only 1.9% higher YoY at ₹588.05 lakh, but EBITDA margin was -82.8% and PAT swung from ₹929.05 lakh profit to a ₹502.98 lakh loss, primarily because infrastructure losses and ₹1,036.13 lakh of other expenses overwhelmed the ₹95.47 lakh wind-mill profit.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹5.88 Cr | 1.9% | +253.1% |
| EBIT | ₹-5.01 Cr | N/A | |
| Net profit | ₹-5.03 Cr | N/A | |
| EPS | ₹-1.34 | N/A | |
| EBIT margin | -82.8% |
P&L walk
Revenue was ₹588.05 lakh, up 1.9% YoY, but EBITDA margin was -82.8% and PAT was a ₹502.98 lakh loss because other expenses rose to ₹1,036.13 lakh and the infrastructure segment generated a ₹580.87 lakh loss.
Segments
Wind Mills remained profitable at ₹95.47 lakh, but Infrastructure dragged the group with a ₹580.87 lakh loss and ₹14,096.70 lakh of assets; toll operations at the material subsidiary had already ended in September 2024.
Key positives
- Revenue recovered to ₹588.05 lakh from ₹166.56 lakh in the preceding quarter, although it was only 1.9% above ₹576.57 lakh YoY.
- Wind Mills remained profitable at ₹95.47 lakh despite a 3.4% YoY revenue decline, and its result improved from a ₹40.56 lakh loss in the preceding quarter.
- Finance costs were only ₹0.13 lakh, limiting interest burden as a source of the reported loss.
Key concerns
- PAT swung from ₹929.05 lakh profit YoY to a ₹502.98 lakh loss, while EBITDA margin fell to -82.8%.
- Infrastructure generated a ₹580.87 lakh loss despite representing ₹14,096.70 lakh of segment assets.
- Other expenses rose 43.3% YoY to ₹1,036.13 lakh, materially exceeding revenue from operations of ₹588.05 lakh.
- The company has not yet received the required financial results of NICE and NECE and therefore has not published consolidated results for the quarter.
- Toll operations of Nandi Highway Developers ended in September 2024, leaving uncertainty around the earnings value and impairment risk of the road-asset subsidiaries.
Research and educational content only. Not investment advice.