BF Utilities Limited reported an 86% decline in standalone net profit to ₹223.40 lakh for the financial year ended March 31, 2026, down from ₹1,598.32 lakh in the previous year. Revenue from operations for FY26 stood at ₹1,886.07 lakh, marginally higher than ₹1,858.36 lakh in FY25, while total revenue decreased to ₹3,334.25 lakh from ₹4,168.23 lakh. The board approved the audited standalone financial results at a meeting held on May 28, 2026, and the extracts were published in newspapers on May 29, 2026.

Financial Performance

For the quarter ended March 31, 2026, the company reported a net loss of ₹364.06 lakh compared to a net profit of ₹7.07 lakh in the same quarter of the previous year. Revenue from operations for Q4FY26 was ₹166.56 lakh, down from ₹236.87 lakh in Q4FY25. Total expenses for the year increased to ₹2,671.65 lakh from ₹2,017.88 lakh in FY25. The basic and diluted earnings per share (EPS) for FY26 was ₹0.59, a significant drop from ₹4.24 in the previous year.

Segment Performance

The company operates through two main segments: Wind Mills and Infrastructure. The Wind Mills segment reported a revenue of ₹2,291.19 lakh for FY26, while the Infrastructure segment generated ₹1,042.88 lakh. The total segment revenue for the year was ₹3,334.07 lakh. The Wind Mills segment reported a profit before tax and interest of ₹400.80 lakh, whereas the Infrastructure segment reported a profit of ₹368.15 lakh for the year.

Audit Qualifications

Statutory auditors G. D. Apte & Co. issued a qualified opinion on the standalone financial results. The qualifications relate to a notice of arbitration filed by AIRRO Mauritius Holdings V against the company and its step-down subsidiary NECE, claiming damages for an amount equal to an investment of ₹500 crore along with 18% IRR. Additionally, auditors noted uncertainty regarding the impairment of investments in NHDL and an interest-free advance of ₹37 crore given to NECE for land acquisition, which has been outstanding for over fourteen years.

Independent Director Shrikrishna K. Adivarekar ceased to be a director of bf utilities on May 29, 2026, following the completion of his second term of office. His departure from the board took effect at the close of business hours on May 29, 2026. Consequently, he has stepped down from his roles as Chairman of the Audit Committee and Nomination and Remuneration Committee, as well as from his membership in the Stakeholders Relationship Committee and Risk Management Committee.

The re-appointment of Mr. S. K. Adivarekar for a second term of three consecutive years was approved by shareholders at the 22nd Annual General Meeting held on September 29, 2022. This term was effective from May 30, 2023, until May 29, 2026. The company disclosed this information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The cessation was attributed to the completion of his second term as an Independent Director. Mr. Adivarekar's Director Identification Number (DIN) is 06928271, and his IDDB Registration Number is IDDB-DI-202002-012411. The company confirmed that no brief profile or relationship disclosures were required as the change was due to the natural end of his tenure rather than a new appointment.

Details of Change