BF Investment anticipates little challenge due to Covid-19 impact

There may be a fall in value of investments in equities, which the company expects to be temporary in nature

Sep 14, 2020 11:09 IST India Infoline News Service

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BF Investment Limited informed the exchanges on Saturday that Coronavirus (Covid-19) is likely to affect the business of the company, the impact of which can not be reasonably estimated at this early stage.

However, based on the preliminary estimates, the company does not anticipate any major challenge in meeting it's financial obligations, on long term basis and does not carry any risk in the recoverability and carrying values of it's loans and advances and does not anticipate any additional liability as at the quarter end.

“There may be a fall in value of investments in equities, which the company expects to be temporary in nature, since all the investments are held on long term basis. The company will closely monitor any material changes that may take place in future that may impact it's business,” companies said.

It further said that the company has financial instruments in the nature of inter group advances, loans and convertible instruments, which are issued by the companies within Kalyani Group and hence there is no risk of default or liquidity.

The majority of the source of the company is in the form of dividend. The company feels that it is too early to estimate the exact impact, if any, on the dividend income. However, Impact assessment of Covid-19 is an ongoing process given the uncertainties associated with it's nature and duration, and the company will evaluate the same at regular intervals. 

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