New Risk • Jun 05
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 2.3% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.0% per year over the past 5 years. Minor Risk Short dividend paying track record (less than a year of continuous dividend payments). Announcement • May 30
BF Investment Limited Recommends Final Dividend for the Financial Year 2025-26 BF Investment Limited announced that the Board of Directors of the Company at its meeting held on May 29, 2026 recommended final dividend of INR 10 per equity share of INR 5 each (that is 200%), on the equity share capital of the company for the financial year 2025-26, subject To Approve the members, at the upcoming 17th Annual General Meeting. New Risk • May 30
New major risk - Revenue and earnings growth Earnings have declined by 1.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • May 21
BF Investment Limited to Report Q4, 2026 Results on May 29, 2026 BF Investment Limited announced that they will report Q4, 2026 results on May 29, 2026 Announcement • Feb 05
BF Investment Limited to Report Q3, 2026 Results on Feb 13, 2026 BF Investment Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Announcement • Nov 05
BF Investment Limited to Report Q2, 2026 Results on Nov 12, 2025 BF Investment Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Announcement • Aug 09
BF Investment Limited to Report Q1, 2026 Results on Aug 13, 2025 BF Investment Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Announcement • Jun 30
BF Investment Limited, Annual General Meeting, Jul 30, 2025 BF Investment Limited, Annual General Meeting, Jul 30, 2025, at 11:00 Indian Standard Time. New Risk • May 30
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 354% Last year net profit margin: 1,022% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Announcement • May 23
BF Investment Limited to Report Q4, 2025 Results on May 29, 2025 BF Investment Limited announced that they will report Q4, 2025 results on May 29, 2025 Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹497, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 20x in the Capital Markets industry in India. Total returns to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹479, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 20x in the Capital Markets industry in India. Total returns to shareholders of 67% over the past three years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹465, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 21x in the Capital Markets industry in India. Total returns to shareholders of 49% over the past three years. Announcement • Feb 10
BF Investment Limited to Report Q3, 2025 Results on Feb 13, 2025 BF Investment Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Announcement • Oct 29
BF Investment Limited to Report Q2, 2025 Results on Oct 31, 2024 BF Investment Limited announced that they will report Q2, 2025 results at 12:08 PM, Indian Standard Time on Oct 31, 2024 Announcement • Aug 07
BF Investment Limited to Report Q1, 2025 Results on Aug 14, 2024 BF Investment Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Announcement • Jun 21
BF Investment Limited, Annual General Meeting, Jul 31, 2024 BF Investment Limited, Annual General Meeting, Jul 31, 2024, at 11:00 Indian Standard Time. Announcement • Jun 13
BF Investment Limited Appoints Mr. Viraj Shambhu Kulkarni as Non-Executive Independent Director BF Investment Limited announced the appointment of Mr. Viraj Shambhu Kulkarni (DIN: 02963687) as Non-Executive Independent Director, the Members of the Company have duly approved the Special Resolution embodied in the Postal Ballot Notice with requisite majority during the e-voting period commencing from 9.00 a.m. (IST) May 10, 2024 and ending on June 08, 2024, for a term of 5 consecutive years with effect from April 30, 2024 to April 29, 2029 (both days inclusive). Mr. Viraj Kulkarni founded PIVOT in 2015. It has since grown to become the largest and globally acclaimed consulting company in the Securities Services sector in Asia and the Middle East. Mr. Viraj's rich work experience spanned across 3 of the top 5 Global Custodians for over 12 years as Country Head of Securities Services with Citi Bank (India and Switzerland), JP Morgan Chase and BNP Paribas. He also servedon the ASPAC Management Board of BNP Paribas Securities Services. He has over 34 years of in-depth and diverse exposure to emerging and advanced capital markets including as operations head at Morgan Stanley Securities Services, India and Investor Services Division at Bombay Stock Exchange (BSE). In May 2022, Mr. Viraj was inducted as a GC Legend in the GC Hall of Fame. He is the first India based Legend amongst the 346 worldwide, across 108 countries in the $246 Trillion Custody Industry. PIVOT in 2023 was recognized globally as a "Rising Star" Consulting Firm of the year in the Market and Infrastructure segment. Mr. Viraj is also a Director of PIVOT Consultants (Cyprus) Ltd.,an independent Director at Motilal Oswal Trust Company. Mr. Viraj has been on Industry committees in India and Switzerland. Committee Member of the Private Equity, Venture Capital and Capital Markets of Bombay Chamber of Commerce and Industry. He is on the IMC's Alternative Funding (PE + Capital Market) committee. He is also a member of the Equity Markets working group ofCII. He is a fellow member of Institute of Company Secretaries and commerce graduate from Bombay University. Announcement • May 24
BF Investment Limited to Report Q4, 2024 Results on May 30, 2024 BF Investment Limited announced that they will report Q4, 2024 results on May 30, 2024 Announcement • Apr 30
BF Investment Limited Announces Superannuation of J. G. Patwardhan as Chief Executive Officer, Effective April 30, 2024 BF Investment Limited announced that Mr. J. G. Patwardhan - Chief Executive Officer ("CEO"), and Key Managerial Personnel of the Company will be superannuating from the services of the Company with effect from the end of business hours of April 30, 2024. Mr. J G Patwardhan will also cease to be a Key Managerial Personnel under the provisions of Section 203 and other applicable provisions, if any, of the Companies Act, 2013 and Regulation 30 (5) of the SEBI LODR Regulations, 2015 for determining the materiality of events or transaction for making required disclosures to stock exchanges w.e.f end of business hours of April 30, 2024. The Company is in process of appointing a new Chief Executive Officer and the same will be communicated to stock exchanges in due course. Announcement • Mar 30
Cebf Investment Limited Announces Resignation of Bhalchandra Basappa Hattark as an Independent Director BF Investment Limited informed that Mr. Bhalchandra Basappa Hattarki (DIN:00145710) is completing his 2nd Consecutive term as an Independent Director of the Company on March 31, 2024, and consequently will cease to be the Director of the Company w.e.f. the end of business hours of the said date. Announcement • Feb 03
BF Investment Limited to Report Q3, 2024 Results on Feb 13, 2024 BF Investment Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Announcement • Oct 31
BF Investment Limited to Report Q2, 2024 Results on Nov 10, 2023 BF Investment Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Announcement • Aug 25
BF Investment Limited, Annual General Meeting, Sep 26, 2023 BF Investment Limited, Annual General Meeting, Sep 26, 2023, at 11:00 Indian Standard Time. Announcement • Aug 04
BF Investment Limited to Report Q1, 2024 Results on Aug 11, 2023 BF Investment Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Announcement • Jul 18
BF Investment Limited Announces Company Secretary and Compliance Officer Changes The Board of Directors (Board) of the BF Investment Limited at its meeting held on July 17, 2023 approved resignation by Mr. Satish Kshirsagar as the Company Secretary and Compliance Officer of the Company with effect from July 31, 2023; and Appointment of Mrs. Gayatri Pendse Karandikar as the Company Secretary and Compliance Officer of the Company with effect from August 01, 2023. Mrs. Gayatri Pendse Karandikar is a member of the Institute of Company Secretaries of India and a Commerce graduate. She has around 3 years of post-qualification experience in the field of secretarial compliances, listing compliances. Announcement • May 19
BF Investment Limited to Report Q4, 2023 Results on May 26, 2023 BF Investment Limited announced that they will report Q4, 2023 results on May 26, 2023 Announcement • Jan 25
BF Investment Limited to Report Q3, 2023 Results on Feb 13, 2023 BF Investment Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Announcement • Jan 06
Board of BF Investment Disapproves Delisting Proposal BF Investment Limited announced outcome of meeting of the Board of Directors of BF Investment Limited ("Company") held on January 4, 2023, in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). The meeting of the Board was held on January 4, 2023, wherein inter alia, the following was noted: 1. The due diligence report dated January 4, 2023, issued and submitted by SVD & Associates, a peer review company secretary ("Peer Review Company Secretary"), as per Regulation 10(3) of the Delisting Regulations ("Report"), was presented and taken on record. 2. The Board noted that: a. Prior to issuance of the Initial Public Announcement, the beneficiary position data ("BENPOS") of the Company reflect that one of the members of the promoter and promoter group of the Company had sold 400 equity shares of the Company on June 29, 2022. b. As is customary, post the issuance of the Initial Public Announcement and as part of the due diligence exercise, the details of buying, selling and dealing in the equity shares of the Company by Acquirer, Promoter, Promoter Group and the top 25 public shareholders were sought by the Company from the Stock Exchanges ("Data"). On comparing the BENPOS and the Data, it came to attention that the aforesaid sale by the member of the promoter and promoter group of the Company occurred on June 30, 2022. c. As per Regulation 4(2) of the Delisting Regulations, no acquirer (which includes the promoter and member(s) of the promoter group) who has sold any equity share(s) of the company during the period of six months, prior to the date of the initial public announcement can propose delisting of equity shares of that Company. In view of the above and as a matter of abundant caution and good governance, the Delisting Proposal was not approved by the Board to ensure compliance with Regulation 4(2) of the Delisting Regulations. Announcement • Jan 03
BF Investment Board to Consider Delisting Plan This Week BF Investment Limited (BFIL) informed that its board will meet on January 4, 2023 to consider the proposal for voluntary delisting of the equity shares of the company from the stock exchanges. The company said that it was in reference to the initial public announcement dated December 30, 2022 made by DGM Realties Private Limited, along with Ajinkya Investment and Trading Company and Sundaram Trading and Investment Private Limited, who are members of the promoter and promoter group of the company, through Axis Capital Limited, Manager to the Offer, to initiate the process of either individually or collectively, as the case may be, acquire all equity shares that are held by public shareholders and consequently voluntarily delist the Equity Shares from the stock exchanges where the Equity Shares are presently listed i.e., BSE Limited and National Stock Exchange of India Limited (NSE). Therefore, the meeting of the board on January 4, 2023 will take on record and review the due diligence report and the share capital audit report of the peer review company secretary, consider and approve /reject the Delisting Proposal after discussing and consider other matters incidental thereto or required in terms of the Delisting Regulations, including seeking shareholders' approval, as may be required, it added. The said shares listed on Bombay Stock Exchange Ltd. (BSE) and National Stock Exchange of India Ltd. (NSE) with effect from January 14, 2011. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improved over the past week After last week's 28% share price gain to ₹351, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 22x in the Capital Markets industry in India. Total returns to shareholders of 11% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Additional Non-Independent Non-Executive Director Bhalchandra Mitkari was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Additional Non-Independent Non-Executive Director Bhalchandra Mitkari was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Additional Non-Independent Non-Executive Director Bhalchandra Mitkari was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 17% share price gain to ₹382, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 17x in the Capital Markets industry in India. Total returns to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improved over the past week After last week's 20% share price gain to ₹384, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 15x in the Capital Markets industry in India. Total returns to shareholders of 37% over the past three years. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improved over the past week After last week's 15% share price gain to ₹325, the stock is trading at a trailing P/E ratio of 11.5x, up from the previous P/E ratio of 10x. This compares to an average P/E of 14x in the Capital Markets industry in India. Total returns to shareholders over the past three years are 10%. Is New 90 Day High Low • Mar 03
New 90-day high: ₹318 The company is up 11% from its price of ₹288 on 03 December 2020. The Indian market is up 17% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Capital Markets industry, which is also up 11% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: ₹313 The company is up 5.0% from its price of ₹300 on 10 September 2020. The Indian market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 15% over the same period. Is New 90 Day High Low • Nov 05
New 90-day low: ₹257 The company is down 18% from its price of ₹315 on 07 August 2020. The Indian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 1.0% over the same period. Is New 90 Day High Low • Sep 21
New 90-day low: ₹283 The company is down 15% from its price of ₹334 on 23 June 2020. The Indian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 9.0% over the same period. 