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BF Investment

BSE:533303
Snowflake Description

Excellent balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
533303
BSE
₹12B
Market Cap
  1. Home
  2. IN
  3. Diversified Financials
Company description

BF Investment Limited operates as a non deposit taking core investment company in India. The last earnings update was 23 days ago. More info.


Add to Portfolio Compare Print
533303 Share Price and Events
7 Day Returns
4.3%
BSE:533303
-2.5%
IN Capital Markets
-1.8%
IN Market
1 Year Returns
46.8%
BSE:533303
-14.5%
IN Capital Markets
5.2%
IN Market
533303 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BF Investment (533303) 4.3% 5.4% 27.4% 46.8% 148.6% 214.8%
IN Capital Markets -2.5% 5.4% 15.1% -14.5% -1.6% 21.8%
IN Market -1.8% -0.9% 8.3% 5.2% 23.4% 26.8%
1 Year Return vs Industry and Market
  • 533303 outperformed the Capital Markets industry which returned -14.5% over the past year.
  • 533303 outperformed the Market in India which returned 5.2% over the past year.
Price Volatility
533303
Industry
5yr Volatility vs Market

Value

 Is BF Investment undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for BF Investment. This is due to cash flow or dividend data being unavailable. The share price is ₹339.4.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BF Investment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BF Investment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:533303 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in INR ₹34.65
BSE:533303 Share Price ** BSE (2019-12-06) in INR ₹339.4
India Capital Markets Industry PE Ratio Median Figure of 163 Publicly-Listed Capital Markets Companies 10.74x
India Market PE Ratio Median Figure of 2,633 Publicly-Listed Companies 12.86x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of BF Investment.

BSE:533303 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:533303 Share Price ÷ EPS (both in INR)

= 339.4 ÷ 34.65

9.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BF Investment is good value based on earnings compared to the IN Capital Markets industry average.
  • BF Investment is good value based on earnings compared to the India market.
Price based on expected Growth
Does BF Investment's expected growth come at a high price?
Raw Data
BSE:533303 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
India Capital Markets Industry PEG Ratio Median Figure of 11 Publicly-Listed Capital Markets Companies 2.08x
India Market PEG Ratio Median Figure of 601 Publicly-Listed Companies 1.1x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for BF Investment, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BF Investment's assets?
Raw Data
BSE:533303 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in INR ₹532.08
BSE:533303 Share Price * BSE (2019-12-06) in INR ₹339.4
India Capital Markets Industry PB Ratio Median Figure of 255 Publicly-Listed Capital Markets Companies 0.51x
India Market PB Ratio Median Figure of 3,565 Publicly-Listed Companies 0.85x
BSE:533303 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:533303 Share Price ÷ Book Value per Share (both in INR)

= 339.4 ÷ 532.08

0.64x

* Primary Listing of BF Investment.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BF Investment is overvalued based on assets compared to the IN Capital Markets industry average.
X
Value checks
We assess BF Investment's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. BF Investment has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is BF Investment expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as BF Investment has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18.6%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BF Investment expected to grow at an attractive rate?
  • Unable to compare BF Investment's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare BF Investment's earnings growth to the India market average as no estimate data is available.
  • Unable to compare BF Investment's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BSE:533303 Future Growth Rates Data Sources
Data Point Source Value (per year)
India Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 18.6%
India Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 11.7%
India Market Earnings Growth Rate Market Cap Weighted Average 19.8%
India Market Revenue Growth Rate Market Cap Weighted Average 11.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:533303 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:533303 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-09-30 198 1,305
2019-06-30 198 1,285
2019-03-31 198 -246 1,264
2018-03-31 116 -21 1,598
2017-03-31 10,240 507 1,353

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if BF Investment is high growth as no earnings estimate data is available.
  • Unable to determine if BF Investment is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:533303 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from BF Investment Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:533303 Past Financials Data
Date (Data in INR Millions) EPS *
2019-09-30 34.65
2019-06-30 34.11
2019-03-31 33.57
2018-03-31 42.42
2017-03-31 35.92

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if BF Investment will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine BF Investment's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. BF Investment's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. BF Investment's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess BF Investment's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
BF Investment has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has BF Investment performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare BF Investment's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • BF Investment has delivered over 20% year on year earnings growth in the past 5 years.
  • BF Investment's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • BF Investment's 1-year earnings growth is negative, it can't be compared to the IN Capital Markets industry average.
Earnings and Revenue History
BF Investment's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from BF Investment Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:533303 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 197.82 1,305.09 4.79
2019-06-30 197.88 1,284.75 4.73
2019-03-31 197.95 1,264.42 4.66
2018-03-31 116.23 1,597.87 4.27
2017-03-31 10,239.50 1,353.12 362.73
2016-03-31 9,368.21 1,321.94 357.00
2015-12-31 211.44 162.14 13.72
2015-09-30 209.83 168.10 7.46
2015-06-30 28.40 188.20 4.35
2015-03-31 207.32 187.51 3.83
2014-12-31 186.58 197.59 3.21
2014-09-30 202.04 200.34 6.79
2014-06-30 54.62 191.83 8.14
2014-03-31 229.17 199.46 11.76
2013-12-31 338.23 199.74 21.59
2013-09-30 352.41 215.21 20.82
2013-06-30 347.09 234.43 20.54
2013-03-31 380.33 263.74 20.21
2012-12-31 438.16 340.52 13.16

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • BF Investment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BF Investment used its assets more efficiently than the IN Capital Markets industry average last year based on Return on Assets.
  • BF Investment's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BF Investment's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
BF Investment has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is BF Investment's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up BF Investment's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BF Investment is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BF Investment's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of BF Investment's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • BF Investment has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from BF Investment Company Filings, last reported 2 months ago.

BSE:533303 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 20,046.43 0.00 626.63
2019-06-30 20,523.19 0.00 518.53
2019-03-31 20,523.19 0.00 518.53
2018-03-31 24,395.76 0.00 235.68
2017-03-31 11,439.12 0.00 555.59
2016-03-31 9,991.18 102.45 322.71
2015-12-31 6,919.13 0.00 476.60
2015-09-30 6,919.13 0.00 476.60
2015-06-30 6,832.09 0.00 388.97
2015-03-31 6,832.09 0.00 388.97
2014-12-31 6,751.03 0.00 361.43
2014-09-30 6,751.03 0.00 361.43
2014-06-30 6,644.59 0.00 311.34
2014-03-31 6,644.59 0.00 311.34
2013-12-31 6,550.69 0.00 13.70
2013-09-30 6,550.69 0.00 13.70
2013-06-30 6,445.12 0.00 252.74
2013-03-31 6,445.12 0.00 252.74
2012-12-31 6,335.48 0.00 76.69
  • BF Investment has no debt.
  • BF Investment currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • BF Investment has no debt, it does not need to be covered by operating cash flow.
  • BF Investment has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess BF Investment's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BF Investment has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is BF Investment's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from BF Investment dividends.
If you bought ₹2,000 of BF Investment shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate BF Investment's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate BF Investment's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:533303 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 54 Stocks 1.8%
India Market Average Dividend Yield Market Cap Weighted Average of 1391 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as BF Investment has not reported any payouts.
  • Unable to verify if BF Investment's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of BF Investment's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as BF Investment has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess BF Investment's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BF Investment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BF Investment has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of BF Investment's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jeewanprasad Patwardhan
COMPENSATION ₹3,448,131
TENURE AS CEO 4.8 years
CEO Bio

Mr. Jeewanprasad G. Patwardhan has been the Chief Executive Officer and Chief Financial Officer at BF Investment Ltd. since March 31, 2015.

CEO Compensation
  • Jeewanprasad's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jeewanprasad's remuneration is lower than average for companies of similar size in India.
Management Team

Jeewanprasad Patwardhan

TITLE
CEO & CFO
COMPENSATION
₹3M
TENURE
4.8 yrs

Satish Kshirsagar

TITLE
Compliance Officer & Company Secretary
COMPENSATION
₹1M
Board of Directors Tenure

Average tenure and age of the BF Investment board of directors in years:

4.4
Average Tenure
60.5
Average Age
  • The tenure for the BF Investment board of directors is about average.
Board of Directors

Amit Kalyani

TITLE
Chairman of the Board
COMPENSATION
₹11M
AGE
44
TENURE
4.4 yrs

Madan Takale

TITLE
Non-Executive Independent Director
COMPENSATION
₹555K
AGE
59
TENURE
9.8 yrs

Bhalachandra Hattarki

TITLE
Non-Executive Independent Director
COMPENSATION
₹560K
AGE
78

Aarti Sathe

TITLE
Non-Executive Independent Director
COMPENSATION
₹525K
TENURE
4.8 yrs

Bhalchandra Mitkari

TITLE
Additional Non-Independent Non-Executive Director
TENURE
0.7 yrs

Sanjeev Joglekar

TITLE
Additional Independent Non-Executive Director
AGE
62
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess BF Investment's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BF Investment has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

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

Details
Name: BF Investment Limited
533303
Exchange: BSE
Founded: 2009
₹12,196,777,946
37,667,628
Website: http://www.bfilpune.com
Address: BF Investment Limited
Cyber City, Tower 15,
Level 6, Office 602,
Pune,
Maharashtra, 411013,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 533303 Equity Shares Mumbai Stock Exchange IN INR 14. Jan 2011
NSEI BFINVEST Equity Shares National Stock Exchange of India IN INR 14. Jan 2011
Number of employees
Current staff
Staff numbers
2
BF Investment employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/07 12:43
End of day share price update: 2019/12/06 00:00
Last earnings filing: 2019/11/14
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.