BF Utilities has filed its audited standalone financial results for the quarter and year ended March 31, 2026, but the publication of its audited consolidated results remains pending. The company disclosed that three subsidiaries—Nandi Infrastructure Corridor Enterprise Ltd. (NICE), Nandi Economic Corridor Enterprises Ltd. (NECE), and Nandi Highway Developers Ltd. (NHDL)—have not yet submitted their audited financial statements for the year ended March 31, 2026. Consequently, the company cannot finalize the consolidated financial results for the quarter and year ended March 31, 2026, until these documents are made available.

The company submitted the audited standalone financial results along with the Auditors' Report to the exchanges on May 28, 2026. In its communication, bf utilities clarified that the delay is solely due to the pending statements from the specified subsidiaries. The consolidated figures, which incorporate the financial data of NICE, NECE, and NHDL, will be published immediately upon receipt of the requisite audited financial statements from these entities.

Subsidiaries Pending Results

The following subsidiaries have not yet submitted their audited financial statements for the year ended March 31, 2026:

The filing was signed by Pragati S. Rai, Company Secretary, on May 28, 2026. The company assured the exchanges that the consolidated results would be released promptly once the subsidiary data is received.

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.