Power Finance Corporation logo

Power Finance Corporation

PFC NSE

Key Fundamentals

LargecapFinancial InstitutionFinancial Services
Market Cap
1.1L Cr
P/E (TTM)
4.15
EBITDA
1.1L Cr
Return on Equity
19.39%
Debt to Equity
7.92
Book Value
₹433.11
EPS (TTM)
₹78.93
52W High
₹486.50
52W Low
₹313.35

Price-based figures as of 9 Oct 2026, 3:55 pm IST · EPS basis: Consolidated · TTM

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Stock is trading at 0.74 times its book value
  • Stock is providing a good dividend yield of 5.76%.
  • Company has been maintaining a healthy dividend payout of 23.0%
  • Company's working capital requirements have reduced from 19.2 days to 14.8 days

Weaknesses

3
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 10.0% over past five years.
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
8.38% lower than 3Y
Net Income Growth
10.19% lower than 3Y
Cash Flow Change
95.12% lower than 3Y
EBITDA Margin (Avg.)
0.31% higher than 3Y

AI Analysis — Bull vs Bear

Figures as of 1 Oct 2026
AI opinion · based on fundamentals
Risk medium

As of the 2026-10-01 close, Power Finance Corporation traded at ₹318, giving a market capitalisation of ₹104,943.24 crore, a trailing P/E of 4.03 on TTM EPS of ₹78.93, and a price-to-book of 0.73. The stock is about 1.5% above its 52-week low of ₹313.35 and about 34.6% below its 52-week high of ₹486.5, after a 1-year return of -23%. Over the longer term, ROE has stayed near 20-21% and profits have compounded at 17-18% over 3-5 years, but TTM growth has slowed to 5% for revenue and 7% for profit.

Bull Case 8
  • Valuation is low on earnings: a trailing P/E of 4.03 on EPS of ₹78.93 means the ₹318 share price (as of 2026-10-01) is about 4 years of current earnings.
  • The stock trades at 0.73 times book value as of 2026-10-01, a 27% discount to stated net worth, even though the company earns an ROE of 19.39%.
  • Returns on equity have held steady over time: ROE was 20% over 10 years, 21% over 5 years, 21% over 3 years and 21% last year, with the current ROE at 19.39%.
  • Profit growth over the medium term has been strong. Profit compounded at 18% over 3 years and 17% over 5 years, faster than revenue growth of 14% and 10% over the same periods.
  • Revenue compounded at 15% over 10 years and 14% over 3 years, showing that the loan book has kept growing alongside power-sector capital spending.
  • The company has paid out a steady 23.0% of profits as dividends, and the dividend yield was 1.2% as of 2026-10-01. With a 23% payout, about 77% of earnings are retained to support book growth.
  • Long-term shareholder returns have been solid, with stock price CAGRs of 23% over 5 years and 12% over 10 years, despite the recent decline.
  • Working capital days fell from 19.2 to 14.8. This metric matters less for a lending business, though.
Bear Case 8
  • Growth has slowed sharply. TTM revenue growth is 5% against a 3-year CAGR of 14%, and TTM profit growth is 7% against a 3-year CAGR of 18%.
  • The stock has fallen 23% over 1 year. At ₹318 it sits about 1.5% above its 52-week low of ₹313.35 and about 34.6% below its 52-week high of ₹486.5, which shows weak recent sentiment.
  • The company has a low interest coverage ratio. As a wholesale lender to the power sector, its spread over borrowing costs is thin, so higher funding costs or lower lending yields could quickly reduce earnings of ₹78.93 per share.
  • ROCE is only 9.59% against an ROE of 19.39%. The roughly 2x gap shows how much returns depend on leverage. Leverage figures (debt-to-equity) were not provided, so balance-sheet risk cannot be fully measured from this data.
  • Revenue growth over 5 years was 10%, below the 10-year CAGR of 15%. This suggests the loan book is growing more slowly than it did historically.
  • The P/E of 4.03 and P/B of 0.73 may reflect concerns the market has priced in, such as lending concentrated in state-owned power distribution companies, government ownership, and regulatory exposure. A low multiple does not on its own mean the stock is mispriced.
  • The dividend yield of 1.2% as of 2026-10-01 is modest for a stock at 4.03x earnings, given that only 23.0% of profits are paid out.
  • Screening data flags that the company may be capitalising interest cost. If so, reported profit growth (7% TTM, 17% over 5 years) could overstate underlying profitability, though for a lender this flag may come from how the data is classified.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Neutral 5
  • Two transmission SPVs transferred Sep 28

    PFC completed the transfer of Latur REZ Transmission to Montecarlo Energy for ₹3.72 crore and Raigad Power Transmission to Apraava Energy for ₹7.41 crore on September 28, 2026. Both subsidiaries contributed negligible revenue and net worth last financial year.

  • Malegaon transmission SPV incorporated Sep 28

    PFC incorporated Malegaon Power Transmission Limited as a subsidiary to handle land acquisition and survey for a 400/220 kV transmission project in Nashik. This follows its usual model of setting up SPVs for transmission bids.

  • Independent director Pankaj Gupta exits Sep 22

    Independent Director Pankaj Gupta left PFC's board effective September 22, 2026, after completing a three-month tenure. The exit may leave a gap in independent board representation until a replacement is named.

  • Joint statutory auditors for FY27 Sep 9

    PFC appointed Thakur Vaidyanath Aiyar & Co and Mehra Goel & Co as joint statutory auditors for FY2026-27 under Section 139 of the Companies Act. This is a routine annual appointment.

  • ED (Projects) Rajesh Shahi retires Oct 1

    Executive Director (Projects) Rajesh Kumar Shahi retired effective September 30, 2026. This is a scheduled retirement, not an unplanned exit.

TL;DR: Recent news on PFC is administrative and does not affect fundamentals. It covers routine SPV activity, board and management changes, and the auditor appointment. The ₹11.13 crore in combined SPV transfers is immaterial for a lender of PFC's size, and none of the items concern asset quality, disbursements or margins. The only minor watch item is the independent director vacancy, which matters for PSU board compliance. With no clear catalyst in this news, the stock's direction will likely depend on the upcoming Q2 FY27 results, especially loan growth, NIMs and stressed-asset resolution.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
21,009
22,391
23,572
24,141
24,717
25,722
26,798
29,265
28,539
28,890
29,095
28,920
28,527
Expenses
-65
-551
791
-589
310
366
429
2,148
212
1,514
1,031
416
35
Financing Profit
7,404
8,629
7,954
9,577
8,886
9,348
9,807
10,550
11,123
10,062
10,492
11,170
11,242
Fin. Margin %
35%
39%
34%
40%
36%
36%
37%
36%
39%
35%
36%
39%
39%
Other Income
9
13
22
35
20
33
24
20
90
11
27
-63
36
Interest
13,670
14,313
14,827
15,154
15,521
16,008
16,562
16,567
17,204
17,314
17,572
17,333
17,250
Depreciation
12
13
14
15
12
13
15
16
14
15
18
16
18
PBT
7,401
8,629
7,961
9,597
8,894
9,368
9,816
10,554
11,199
10,057
10,502
11,092
11,260
Tax %
19%
23%
21%
21%
19%
23%
21%
21%
20%
22%
22%
22%
20%
Net Profit
5,982
6,628
6,294
7,556
7,182
7,215
7,760
8,358
8,981
7,834
8,212
8,598
8,998
EPS in Rs
13.87
14.65
14.33
17.04
16.8
16.07
17.66
19.14
20.81
17.4
19.07
21.21
21.25
Gross NPA %
3.54%
3.4%
3.13%
3.02%
2.97%
2.62%
2.3%
1.64%
1.47%
1.45%
1.26%
0.66%
0.66%
Net NPA %
1%
0.98%
0.86%
0.85%
0.84%
0.8%
0.73%
0.38%
0.31%
0.3%
0.23%
0.13%
0.13%
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
24,988
27,861
27,581
48,624
54,106
62,189
71,656
76,262
77,568
91,508
1,06,502
1,15,450
1,15,431
Expenses
1,103
2,042
5,538
6,583
1,696
7,332
7,102
8,215
4,051
-33
3,255
3,171
2,996
Financing Profit
8,429
9,162
5,275
11,752
17,783
14,012
19,871
23,338
26,501
33,573
38,603
42,864
42,966
Fin. Margin %
34%
33%
19%
24%
33%
23%
28%
31%
34%
37%
36%
37%
37%
Other Income
25
25
30
42
94
105
46
79
47
69
85
49
12
Interest
15,456
16,657
16,768
30,289
34,627
40,845
44,684
44,709
47,017
57,968
64,644
69,415
69,470
Depreciation
8
20
41
15
15
24
25
35
52
53
56
63
67
PBT
8,446
9,167
5,264
11,779
17,862
14,093
19,891
23,382
26,496
33,588
38,632
42,850
42,911
Tax %
29%
33%
58%
25%
29%
33%
21%
20%
20%
21%
21%
22%
—
Net Profit
6,004
6,184
2,236
8,797
12,640
9,477
15,716
18,768
21,179
26,461
30,514
33,625
33,642
EPS in Rs
18.19
18.74
6.78
20.27
30.06
21.58
35.6
42.47
48.15
59.88
69.67
78.49
78.93
Div. Payout %
20%
30%
59%
31%
0%
35%
22%
23%
22%
23%
23%
24%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
1,320
1,320
2,640
2,640
2,640
2,640
2,640
2,640
2,640
3,300
3,300
3,300
Reserves
31,091
34,708
34,205
37,194
44,481
46,760
58,127
69,036
81,518
97,847
1,14,438
1,29,561
Borrowing
1,87,795
2,00,660
2,02,993
4,41,151
5,39,488
5,96,561
6,59,682
6,60,476
7,51,158
8,61,961
9,71,758
10,12,503
Other Liabilities
8,705
10,531
19,700
41,546
42,260
48,560
55,257
58,848
60,796
75,770
88,590
99,214
Total Liabilities
2,28,912
2,47,220
2,59,537
5,22,531
6,28,869
6,94,521
7,75,707
7,91,000
8,96,112
10,38,877
11,78,086
12,44,579
Fixed Assets
102
198
296
161
196
238
341
719
782
764
761
755
CWIP
2
47
105
129
199
288
336
53
22
39
88
144
Investments
528
2,230
3,145
5,493
4,604
4,404
3,499
3,774
5,973
10,971
12,792
15,549
Other Assets
2,28,280
2,44,745
2,55,990
5,16,749
6,23,871
6,89,590
7,71,530
7,86,454
8,89,334
10,27,102
11,64,445
12,28,131
Total Assets
2,28,912
2,47,220
2,59,537
5,22,531
6,28,869
6,94,521
7,75,707
7,91,000
8,96,112
10,38,877
11,78,086
12,44,579
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-21,455
-13,298
1,795
-57,148
-80,252
-42,148
-59,143
4,904
-74,699
-97,820
-92,270
-4,504
Investing
-491
-1,973
-667
1,409
-13,463
-73
1,741
-547
-1,694
-3,409
-2,212
-3,441
Financing
26,916
10,383
1,950
52,018
93,616
43,399
60,424
-8,371
75,518
1,01,261
94,159
9,265
Net Cash Flow
4,970
-4,888
3,079
-3,720
-98
1,179
3,023
-4,014
-874
32
-323
1,319
Free Cash Flow
-21,498
-13,456
1,614
-57,237
-80,351
-42,277
-59,234
4,604
-74,821
-98,143
-93,110
-4,841
CFO/OP
-79
-40
23
-124
-144
-71
-83
15
-94
-100
-82
3
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
20%
18%
6%
17%
23%
15%
21%
21%
20%
21%
21%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others1.91%Promot.55.99%Public7.05%DIIs14.51%FIIs20.54%As ofJun 2026

Documents

Frequently Asked Questions about Power Finance Corporation

What does Power Finance Corporation Ltd do?
Power Finance Corporation Limited is a Systemically Important Non-Deposit taking NBFC registered with the RBI as an Infrastructure Finance Company. It is engaged in extending financial assistance to the Indian power sector. [1]
Where is Power Finance Corporation Ltd (PFC) listed?
Power Finance Corporation Ltd trades as PFC on the NSE and under code 532810 on the BSE.
Which sector does Power Finance Corporation Ltd belong to?
Power Finance Corporation Ltd is classified under the Financial Services sector, in the Financial Institution industry.
What is the market capitalisation of Power Finance Corporation Ltd?
Power Finance Corporation Ltd has a market capitalisation of ₹1,08,177 Cr as of 9 Oct 2026, which places it in the Large Cap band.
What is the PE ratio of Power Finance Corporation Ltd?
Power Finance Corporation Ltd trades at a PE ratio of 4.15 as of 9 Oct 2026, on earnings per share of ₹78.93, against a book value of ₹433.11 per share.
What is the 52-week high and low of Power Finance Corporation Ltd?
Over the last 52 weeks Power Finance Corporation Ltd has traded between ₹313.35 and ₹486.5 as of 9 Oct 2026.
Does Power Finance Corporation Ltd pay dividends?
Power Finance Corporation Ltd has a dividend yield of 1.20%.
What is the Return on Equity (ROE) of Power Finance Corporation Ltd?
Power Finance Corporation Ltd reported a return on equity of 19.39%. Its debt-to-equity ratio is 7.92.

Company Information

Power Finance Corporation Limited is a Systemically Important Non-Deposit taking NBFC registered with the RBI as an Infrastructure Finance Company. It is engaged in extending financial assistance to the Indian power sector. [1]

Website pfcindia.com
CEO Ms. Parminder Chopra
Employees 540
Listed 2007-02-23
Face Value ₹ 10
Shares Outstanding 3,30,01,01,760

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