BF Utilities FY26 results: auditor flags adverse opinion and going concern

Adverse OpinionGoing ConcernExceptional ItemEbitda Margin CompressionResults View source PDF Explain this filing

BFUTILITIE · price

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Price reactionminutes from the announcement price · days from the prior close

+0.2%Reaction day

₹505.10

prior close

₹496.05

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.3%+1.5% vs market

Road Assets - Toll Annuity Hybrid-Annuity peers, median of 6sector-1.0%+1.2% vs sector

On the reaction day the stock moved 1.5 pts more than Nifty Microcap 250 and 1.2 pts more than its Road Assets - Toll Annuity Hybrid-Annuity peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.7

10m

+0.1

15m

+0.6

30m

+0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.2-1.3+1.5-1.0+1.2

Next day

-2.0-1.3-0.7-0.8-1.2

-1.4+0.0-1.4-0.3-1.1

-2.3-0.2-2.1-0.1-2.2

-7.3-3.0-4.3-0.3-7.0

-6.8-2.7-4.1-1.4-5.4

-6.9-1.7-5.1-1.5-5.4

15d

-18.0-8.9-9.2-10.5-7.5

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UpDownMarket · Nifty Microcap 250Sector · Road Assets - Toll Annuity Hybrid-Annuity peers, median of 6Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

BF Utilities (BFUTILITIE) FY26 consolidated: revenue Rs 94,798 lakhs (up 13% YoY), PAT Rs 34,012 lakhs (flat). Q4 PAT fell 49% YoY. Auditor G.D. Apte issued an Adverse Opinion flagging NECE equity classification dispute, ongoing SIAC arbitration seeking Rs 500 Cr plus 18% IRR, NHDL going concern doubt after toll ops ended, and Rs 3,700 lakh land advance pending 15 years. Board appointed Kirtane and Pandit LLP as new auditors for 5 years.

Likely market impact

Auditor's adverse opinion and ongoing Rs 500 Cr arbitration create serious uncertainty despite flat full-year profit.