This small cap stock gained 10% to reach its upper circuit after the company filed its 23rd annual report for FY23. The company also declared the date for their upcoming Annual General Meeting. (AGM)
Share prices of BF Utilities reached its upper circuit of 10% of Rs. 689.45 per share. By the end of the trading session, the stock closed at the same price. The stock has given a return of 88.28% and 135.02% in the last six months and three years.
BF has notified the exchange about its upcoming annual general meeting which is to be held on 27 September 2023 through video conference/other audio visual means.
The company published its annual report for FY23 on 31 August, 2023. The financials demonstrate a positive growth in the company’s performance. For FY23, it has increased its revenue and net profit along with improving their metrics. Comparing on a YoY basis, it recorded an increased revenue of 45.2% to Rs. 775.89 crore in FY23 from Rs. 534.20 crore in FY22.
Its net profit stands at Rs. 256.65 crore in FY23, an increase of 175.5% from Rs. 93.13 crore in FY22. Debt-equity ratio was 0.16 in FY22 which is now reduced to 0.13. Its return on equity has grown from 2.14% in FY22 to 4.18% in FY23. Lastly, the company’s net profit margin was 11.32% in FY22 which is 21.70% in FY23.
As per its shareholding pattern, promoters of the company hold a total of 56.74% including Radhakishan Shivkishan Damani with 1.01% and Kalyani Group with 16.45%.
BF Utilities was incorporated in 2000. It utilises windmill technology in order to generate power. It also works in infrastructure development. They take up big projects such as construction of highways, roads, and others. BF makes the majority of its revenue through utilising windmill technology. The company has set up wind power plants all over the country.
Written by Bhumika Khandelwal
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
