BF Utilities Limited — Others, 29-05-2025: Change in Management

BF Utilities has announced a board meeting on which it approved the financial results for the quarter and year ended March 31, 2025, reporting a profit before tax of Rs. 26.29 lakh for the quarter and Rs. 21.50 Cr for the year. A qualified audit opinion was issued due to a longstanding interest-free advance of Rs. 37 Cr to its step-down subsidiary NECE, which management expects to recover. Toll operations of subsidiary Nandi Highway Developers ended in September 2024 after concession expiry, with assets remaining sound. The board saw changes with Mr. Amit B. Kalyani replacing Mr. Baba N. Kalyani as Chairperson, and Mr. M. U. Takale joining as Additional Non-Executive Director, pending shareholder approval. New Secretarial and Internal Auditors were appointed, and the Insider Trading Code of Conduct was revised effective June 2025. Audited results from key subsidiaries are awaited before consolidated results are published.