BF Investment Limited (BFINVEST) AI Stock Analysis

• Market Cap: ₹14.20B
• Dividend Yield: N/A
• Average Volume (3M): 10.36K
• Price to Earnings (P/E): 4.3
• Beta (1Y): 1.45
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 2
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 23.73
• 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: ₹393.00 ▼(-5.99% Downside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

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

Balance-sheet strength (near-zero debt)

Reported total debt is essentially zero and equity/assets have expanded steadily, giving the company low financial leverage and high resilience. This durable balance-sheet strength supports capital allocation flexibility, low refinancing risk, and stability through market cycles over the next 2–6 months.

Consistent revenue growth

Multi-year revenue growth, including ~12% in the latest fiscal year, signals sustained demand and business-model traction. A steadily expanding top line supports operational leverage, investment capacity, and reduced execution risk, making near-term revenue continuity more likely over the coming months.

Improving cash conversion (FY2025)

Recent FY2025 operating and free cash flow nearly matched net income, indicating improved cash conversion. Better cash generation enhances self-funding ability for distributions or reinvestment, strengthens liquidity metrics, and reduces dependence on external financing in the medium term.

Negative Factors

Earnings quality concerns

Reported margins and net income appear volatile and at times implausibly high versus revenue, suggesting material non-operating items or one-offs. This undermines predictability of recurring earnings, complicates cash flow forecasting, and raises risk that current profit levels are not durable.

Historic cash-flow volatility

Cash generation has been inconsistent historically, with multiple years of negative operating/free cash flow. Such volatility implies timing or non-cash drivers affect reported profits, limiting the company’s ability to sustainably fund distributions, cover shocks, or execute multi-year plans without contingency sources.

Modest returns on growing equity

Equity and assets have expanded but recent returns on equity are modest and fell in FY2025 versus FY2024. This signals lower capital efficiency: the business may struggle to convert a larger capital base into proportionally higher earnings, constraining long-term shareholder value creation.

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

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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	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	386.78M	349.80M	194.84M	159.14M	109.06M	22.66M
Gross Profit	384.53M	346.96M	187.85M	152.42M	103.00M	17.87M
EBITDA	673.39M	3.03B	5.79B	3.44B	2.64B	3.58B
Net Income	820.56M	2.22B	4.34B	2.59B	1.98B	2.67B
Balance Sheet
Total Assets	77.98B	76.00B	68.14B	51.08B	43.94B	35.98B
Cash, Cash Equivalents and Short-Term Investments	4.58B	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	7.15B	7.00B	6.12B	4.18B	3.56B	3.01B
Stockholders Equity	70.83B	69.00B	62.01B	46.90B	40.38B	32.98B
Cash Flow
Free Cash Flow	76.53M	926.95M	90.58M	-1.86M	39.06M	-80.23M
Operating Cash Flow	76.53M	927.27M	90.88M	-1.86M	55.43M	-61.68M
Investing Cash Flow	863.23M	-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	₹53.53B	-100.46	―	0.29%	-8.75%	-85.31%
SILINV	63 Neutral	₹4.27B	7.07	―	0.49%	―	―
BFINVEST	62 Neutral	₹14.20B	4.34	―	―	―	―
JPOLYINVST	61 Neutral	₹12.38B	0.39	―	―	82.30%	-44.25%
KICL	57 Neutral	₹19.60B	316.94	―	―	―	―
NSIL	54 Neutral	₹27.75B	111.73	―	―	―	―