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BF Utilities Ltd. Regulatory Filings 2020

Sep 11, 2020

60768_rns_2020-09-11_8a549fed-a88a-45f1-90a0-d932d81e24cf.pdf

Regulatory Filings

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BF UTILITIES

CIN:L40108PN2000PLC015323

COVID-19 IMPACT

Corona virus (COVID -19) has badly affected the world economy, including India. COVID-19 is likely to affect the business activities of the Company, the impact of which cannot be reasonably estimated at this early stage.

However, based on the preliminary estimates, the Company does not anticipate any major challenge in meeting its Financial obligations, on long term basis and does not carry any risk in the recoverability and carrying values of its assets including advances given for specific purpose to the subsidiary companies and does not anticipate any additional liability as at the Balance Sheet date.

There may be a fall in the fair value of investments in equities, which the Company expects to be temporary in nature, since all the investments are held for long term basis and as a promoter of the respective subsidiary companies.

The Company will closely monitor any material changes that may take place in future that may impact its business.

• Impact on revenue:

The majority of source of income of the Company is in the form of sale of power and related products. The Company feels that it is too early to estimate the exact impact, if any, on the revenue from sale of power, due to COVID-19.

However, impact assessment of COVID - 19 is a continuing process given the uncertainties associated with its nature and duratfon, and the Company will evaluate the same at a regular interval.