BF Utilities Q2 FY26: PAT Rs 178.77L, auditor gives qualified opinion

Qualified audit opinionEmphasis of matterContingent liabilities increasedNegative operating cash flowRelated-party transactionsResults View source PDF Explain this filing

BFUTILITIE · price

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

+3.7%Reaction day

₹669.00

prior close

₹691.95

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.9%+2.8% vs market

Road Assets - Toll Annuity Hybrid-Annuity peers, median of 5sector+1.6%+2.2% vs sector

On the reaction day the stock moved 2.8 pts more than Nifty Microcap 250 and 2.2 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.

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Road Assets - Toll Annuity Hybrid-Annuity peers, median of 5Pending

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AI summary

BF Utilities Q2 FY26 standalone PAT of Rs 178.77L (vs loss Rs 97.07L YoY) on revenue of Rs 797.15L. H1 PAT at Rs 820.89L though revenue dipped to Rs 1,373.72L. Operating cash flow negative Rs 328.30L. Auditor G D Apte gave qualified conclusion on three counts: SIAC arbitration claim of Rs 500 Cr plus 18% IRR against subsidiary NECE, Rs 26.07 Cr NHDL investment needing impairment check after toll ended, and Rs 37 Cr interest-free advance to NECE outstanding 14+ years without impairment.

Likely market impact

Qualified audit opinion and pending SIAC arbitration of Rs 500 Cr plus 18% IRR raise red flags despite profit turnaround. Watch cash burn.