BF Investment Limited (BFINVEST) AI Stock Analysis

• Market Cap: ₹14.35B
• Dividend Yield: N/A
• Average Volume (3M): 10.36K
• Price to Earnings (P/E): 17.5
• Beta (1Y): 1.63
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 2
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 10.61
• Shares Outstanding: 37,667,630
• 10 Day Avg. Volume: 2,365
• 30 Day Avg. Volume: 10,360
• PEG Ratio: -0.17
• Price to Book (P/B): 0.27
• Price to Sales (P/S): 53.20
• P/FCF Ratio: 20.08
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: ₹395.00 ▼(-5.51% Downside)

Score is driven primarily by a very strong, low-risk balance sheet, partially offset by concerns around earnings quality and historically volatile cash flows. Technicals are also a headwind given the price remains below key longer-term moving averages and MACD is negative, while valuation appears mid-range based on the provided P/E.

Positive Factors

Very strong, low-leverage balance sheet

Near-zero debt and steadily expanding assets/equity provide durable financial flexibility. Low leverage reduces refinancing and solvency risk, enabling the firm to absorb market shocks, fund selective growth or payouts, and maintain operations without pressure from interest burdens.

Consistent revenue growth

Sustained top-line growth suggests successful market penetration or AUM expansion, supporting recurring fee income over time. A steady revenue trajectory underpins long-term profitability potential and provides a base to scale operating leverage as fixed costs are absorbed.

Improved cash conversion in latest year

Recent alignment of cash flow and reported earnings indicates improved cash conversion, enhancing the company's ability to fund operations, invest selectively, or return capital without relying on external financing. If sustained, this raises resilience and strategic optionality.

Negative Factors

Earnings quality concerns

Margins and net income have shown implausible volatility and occasional extreme figures, implying reliance on one-offs or non-core items. That undermines predictability of recurring fee earnings and complicates forecasting, making long-term earnings power uncertain.

Historically inconsistent cash flows

Intermittent negative operating cash flows across multiple years indicate volatility in cash generation and potential dependence on timing or non-cash items. This raises the risk that positive FY2025 cash conversion may not be durable, constraining reinvestment or distributions.

Modest returns on growing equity base

Equity and assets have expanded yet ROE has softened, indicating the growing capital base isn't translating into proportionate shareholder returns. Persistent modest ROE suggests capital allocation inefficiency and could limit long-term value creation for investors.

BF Investment Limited Business Overview & Revenue Model

Company Description

BF Investment Limited operates as a non-deposit taking core investment company in India. The company is involved in the loans and investments business. BF Investment Limited was incorporated in 2009 and is based in Pune, India.

How the Company Makes Money

BF Investment Limited Financial Statement Overview

Summary

Strong balance sheet with essentially no debt and steadily expanding assets/equity supports resilience. However, earnings quality is a concern: profitability appears unusually volatile and potentially driven by non-operating items, and cash flows have been inconsistent historically despite a strong FY2025 rebound.

Income Statement

Revenue has grown consistently over the last several years (including ~12% growth in FY2025), which is a positive trajectory. Profitability looks very strong on paper with extremely high gross profit and reported net margins, but the margin profile is unusually volatile and at times implausibly high versus revenue (suggesting earnings are being driven by non-operating items or one-offs rather than core fees). Net income is also inconsistent year-to-year (peaking in FY2024 and stepping down in FY2025), which reduces confidence in the durability of the earnings base.

Balance Sheet

The balance sheet is a clear strength: reported total debt is essentially zero across periods, resulting in minimal financial leverage and low balance-sheet risk. Equity and total assets have expanded steadily over time, supporting stability. The main drawback is that returns on equity are only modest in recent years (notably lower in FY2025 versus FY2024), implying the growing equity base is not translating into consistently strong shareholder returns.

Cash Flow

Cash generation is mixed. FY2025 shows strong operating and free cash flow (nearly matching net income), indicating good cash conversion in the latest year. However, prior years include periods of negative operating/free cash flow (notably FY2020, FY2021, and FY2023), highlighting volatility and potential reliance on timing or non-cash/one-time earnings drivers. Overall, the cash flow profile is improving recently but remains less consistent than the balance sheet.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	403.19M	349.80M	194.84M	159.14M	109.06M	22.66M
Gross Profit	400.84M	346.96M	187.85M	152.42M	103.00M	17.87M
EBITDA	695.58M	3.03B	5.79B	3.44B	2.64B	3.58B
Net Income	781.18M	2.22B	4.34B	2.59B	1.98B	2.67B
Balance Sheet
Total Assets	0.00	76.00B	68.14B	51.08B	43.94B	35.98B
Cash, Cash Equivalents and Short-Term Investments	4.77B	28.34B	25.99B	18.72B	16.92B	1.03B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	-69.00B	7.00B	6.12B	4.18B	3.56B	3.01B
Stockholders Equity	69.00B	69.00B	62.01B	46.90B	40.38B	32.98B
Cash Flow
Free Cash Flow	0.00	926.95M	90.58M	-1.86M	39.06M	-80.23M
Operating Cash Flow	0.00	927.27M	90.88M	-1.86M	55.43M	-61.68M
Investing Cash Flow	0.00	-1.21B	181.83M	68.83M	-267.48M	125.08M
Financing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00

BF Investment Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
PILANIINVS	63 Neutral	₹50.97B	175.93	―	0.29%	-8.75%	-85.31%
SILINV	63 Neutral	₹4.80B	12.44	―	0.49%	―	―
BFINVEST	62 Neutral	₹14.35B	17.49	―	―	―	―
KICL	57 Neutral	₹20.52B	45.94	―	―	―	―
NSIL	54 Neutral	₹30.08B	124.95	―	―	―	―
JPOLYINVST	53 Neutral	₹10.41B	4.73	―	―	82.30%	-44.25%