About BF Investment Limited

BF Investment Limited is a public limited company incorporated in May, 2009 and domiciled in India. Its equity shares are listed on BSE Limited and the National Stock Exchange of India Limited. The Company’s registered office is at Mundhwa, Pune Cantonment, Pune–411036, and its CIN is L65993PN2009PLC134021. The Company is primarily engaged in making strategic, long-term investments in Kalyani Group companies and related entities. Its financial statements for the latest year were approved by the Board on May 29, 2025.

BF Investment Limited functions as a Non-Deposit taking Core Investment Company (CIC) under the Core Investment Companies (Reserve Bank) Directions, 2011. It is not a Systemically Important Non-Deposit taking CIC and is therefore not required to obtain a Certificate of Registration under Section 45-IA of the Reserve Bank of India Act, 1934. The Board affirms that investments are made with the intent to hold for the long term, and the Company continually evaluates opportunities in line with macro-economic conditions.

The investment portfolio spans equity shares, preference shares, debentures and loans. The majority of the Group’s equity investments are publicly traded and included in BSE and NSE indices. The Company diversifies its portfolio and maintains prudent liquidity and credit risk management practices as part of annual risk assessments. On consolidation, the Group includes BF Investment Limited and its associates and joint ventures. As at March 31, 2025, the Company had no subsidiaries, six associates and two joint ventures. All assets are in India, underscoring a domestic investment focus.

As an investment holding company, BF Investment Limited’s revenue streams primarily arise from dividends, interest income and gains on investments. The Company reports a debt-free capital structure and manages capital to safeguard continuity, optimise structure and support strategic plans.

Key milestones of BF Investment Limited

Key milestones include: incorporation in 2009; listings on BSE and NSE; establishment and affirmation of its status as a Non-Deposit taking CIC; continued consolidation of associates and joint ventures; and ongoing reinforcement of internal control and governance frameworks, including unmodified audit opinions in the latest year.

BF Investment Limited Key Management

• A. B. Kalyani – Chairman
• Akshay Jagtap – Chief Executive Officer & Chief Financial Officer
• G. P. Pendse – Company Secretary
• S. G. Joglekar – Director
• B. S. Mitkari – Director

Latest Updates on BF Investment Limited

• Classification and regulatory position: The Company reiterates that it is a Non-Deposit taking CIC and not systemically important, and hence not required to obtain an RBI registration under Section 45-IA.
• Secretarial auditor appointment: The Board approved the appointment of M/s. SVD & Associates, Practicing Company Secretaries (Peer Reviewed Firm), for five consecutive years from FY 2025-26 to FY 2029-30, subject to approval of members at the ensuing AGM.
• Board composition compliance: For the period April 1–29, 2024, the Board’s composition was temporarily imbalanced due to the completion of an Independent Director’s tenure. BSE and NSE levied fines of Rs 1,71,100 each (inclusive of GST), which were remitted within the prescribed time.
• Investment activity highlights: During the year, the Company reported no fresh investments under Section 186 disclosures in the Directors’ Report. Cash flows reflect maturity of preference shares of Rs 210.42 Million in the year, alongside dividend inflows from associates and joint ventures at the consolidated level.
• Consolidation scope: The Group’s consolidated results included share of total comprehensive income from four associates and two joint ventures; management did not consolidate five associate entities (direct and indirect) under the equity method, citing immaterial operations, which did not modify the audit opinion.

Note: This profile is based solely on the Company’s Annual Report for 2024–2025 and avoids any external sources.Investment Advisor