Power Finance Corporation Ltd
PFC NSE
Power Finance Corporation Ltd
Financial Services F&ONSE: PFC BSE: 532810 Financial Institution
Key Fundamentals
LargecapFinancial InstitutionFinancial ServicesMarket Cap
1.2L Cr
Volatility
Low Risk
P/E Ratio
4.65
EBITDA
1.1L Cr
Return on Equity
19.39%
Debt to Equity
7.92
Book Value
₹433.11
EPS
₹62.81
52W High
₹486.5
52W Low
₹329.9
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Power Finance Corporation Ltd insights
22 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
4- Stock is trading at 0.84 times its book value
- Stock is providing a good dividend yield of 5.10%.
- 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% ↗
Net Income Growth
10.19% ↗
Cash Flow Change
95.12% ↗
ROE
-1.42% ↘
ROCE
3.23% ↗
EBITDA Margin (Avg.)
0.31% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoAI opinion · based on fundamentals
Risk medium
Power Finance Corporation trades at a PE of 3.6x and 0.84x book value with a market cap of ₹1,20,157 Cr, reflecting deep value characteristics for a government-owned power sector lender. The company has delivered consistent 21% ROE over 3 and 5 years with 18% compounded profit growth over 3 years, though revenue growth has moderated to 5% TTM and the stock has declined 9% over the past year.
Bull Case 8
- Trades at 0.84x price-to-book, significantly below book value, indicating deep value territory for a profitable NBFC
- PE ratio of 3.6x is exceptionally low, suggesting earnings are being acquired cheaply relative to market norms
- Consistent ROE of 21% maintained across 3-year, 5-year, and last year periods, showing stable profitability
- Dividend yield of 5.11% provides meaningful income, well above market averages
- Compounded profit growth of 18% over 3 years and 17% over 5 years demonstrates sustained earnings expansion
- Working capital days reduced from 19.2 to 14.8 days, reflecting improved operational efficiency
- 10-year compounded sales growth of 15% and profit growth of 15% show long-term structural growth trajectory
- Market cap of ₹1,20,157 Cr with government backing provides institutional stability and low counterparty risk perception
Bear Case 8
- Low interest coverage ratio raises concerns about ability to service debt comfortably in a rising rate environment
- TTM sales growth has decelerated sharply to just 5%, down from 14% 3-year CAGR, signaling slowing momentum
- Potential capitalization of interest costs may overstate reported profitability and asset quality
- Stock has declined 9% over the past 1 year, underperforming broader markets significantly
- 5-year compounded sales growth of only 10% is modest for a power sector financier during India's infrastructure push
- Dividend payout ratio of 23% is relatively conservative given the high profitability, limiting shareholder returns
- As a concentrated power sector lender, PFC carries sectoral concentration risk tied to state discom health
- Debt-to-equity data unavailable but the business model inherently involves high leverage, amplifying balance sheet risk
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Headwinds 2
- CLSA cuts target, PAT estimate down Aug 10
CLSA cut target price to ₹500 and revised FY27 PAT estimate down 2%-3% after Q1 results showed core margins softening QoQ.
- Flat revenue, slow loan growth Aug 10
Q1 revenue flat at ₹138B YoY and loan growth only 4% YoY, partly due to RBPF portfolio run-down.
Positives 3
- Record PAT in FY26 Aug 8
PFC reported record standalone PAT of ₹20,051 crore and consolidated PAT of ₹33,625 crore in FY26, with merger with REC targeted for April 2027.
- Q1 net profit up YoY Aug 7
Q1 net profit rose to ₹47.45B from ₹45B YoY, reflecting continued profit growth despite flat top-line.
- Final dividend of ₹3.95/share Aug 8
Board recommends final dividend of ₹3.95 per share for FY25-26; 40th AGM scheduled for August 31, 2026.
Neutral 3
- ₹30 crore block trade on NSE Aug 10
Institutional block trade of ~7.65 lakh shares at ₹393.10/share worth ₹30.07 crore executed on NSE.
- Two transmission SPVs transferred Aug 3
PFC transferred Ananthpuram and Krishnagiri REZ Transmission subsidiaries to Apraava Energy and PGCIL for nearly ₹40 crore.
- New transmission SPVs incorporated Jul 28
PFC Consulting incorporated Benchigere Transmission (400kV, Tumakuru) and Kushtagi Transmission (765KV, Karnataka) as SPVs for competitive bidding.
TL;DR: PFC delivered record profitability in FY26 and continued YoY profit growth in Q1, with benign asset quality and a transformative REC merger on track for April 2027. However, margin compression and tepid 4% loan growth are near-term concerns that prompted analyst estimate cuts. The transmission SPV pipeline signals steady infrastructure deal flow. Trend is stable with upside hinging on merger execution and loan growth re-acceleration.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 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% |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 20% | 18% | 6% | 17% | 23% | 15% | 21% | 21% | 20% | 21% | 21% | 21% |
Documents
1
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 May - The Investor Meet of the management of the Company with Investors/Analysts has been scheduled, subsequent to the declaration of Q4/FY 2025-26 results, as per the … 8 May - The Investor Meet of the management of the Company with Investors/Analysts has been scheduled, subsequent to the declaration of Q4/FY 2025-26 results, as per the …
2
Incorporation Of A Wholly Owned Subsidiary Of PFC Consulting Limited (A Wholly Owned Subsidiary Of Power Finance Corporation Limited)- PUNE WEST POWER TRANSMISSION LIMITED
8 May - PFC Consulting incorporated Pune West Power Transmission Limited for 765 kV GIS Pune West project. 8 May - PFC Consulting incorporated Pune West Power Transmission Limited for 765 kV GIS Pune West project.
3
Incorporation Of Two Wholly Owned Subsidiaries Of PFC Consulting Limited (A Wholly Owned Subsidiary Of Power Finance Corporation Limited)- (1)WESTERN GHATS PSP TRANSMISSION LIMITED (2) HINGOLI WEST POWER TRANSMISSION LIMITED
8 May - PFC Consulting incorporated two SPVs: Western Ghats PSP Transmission and Hingoli West Power Transmission. 8 May - PFC Consulting incorporated two SPVs: Western Ghats PSP Transmission and Hingoli West Power Transmission.
4
Appointment Of Shri Rajesh Kumar Agarwal As Director (Finance) On The Board And CFO Of Power Finance Corporation Limited
30 Apr - Shri Rajesh Kumar Agarwal appointed Director (Finance) and CFO effective 23.04.2026. 30 Apr - Shri Rajesh Kumar Agarwal appointed Director (Finance) and CFO effective 23.04.2026.
5
Intimation Regarding Change In Board Of The Company
30 Apr - Shri Rajiv Ranjan Jha ceases as Director (Projects) from 01.05.2026 on superannuation. 30 Apr - Shri Rajiv Ranjan Jha ceases as Director (Projects) from 01.05.2026 on superannuation.
2
Newspaper Publication In Respect Of Notice Of 40Th Annual General Meeting & E-Voting Information 12 Aug 2026
General_Announcements
Frequently Asked Questions about Power Finance Corporation Ltd
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 is listed on the Indian stock exchanges. It is listed on NSE: PFC and BSE: 532810. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Power Finance Corporation Ltd belong to?
Power Finance Corporation Ltd operates in the Financial Services sector within the Financial Institution industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Power Finance Corporation Ltd?
Power Finance Corporation Ltd has a market capitalisation of approximately ₹119958.70 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Power Finance Corporation Ltd?
The Price-to-Earnings (PE) ratio of Power Finance Corporation Ltd is 4.65. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Power Finance Corporation Ltd?
Over the past 52 weeks, Power Finance Corporation Ltd has traded between a low of ₹329.9 and a high of ₹486.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Power Finance Corporation Ltd pay dividends?
Yes, Power Finance Corporation Ltd has a dividend yield of 1.07%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Power Finance Corporation Ltd?
Power Finance Corporation Ltd has a Return on Equity (ROE) of 19.39%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Power Finance Corporation Ltd on Tapetide?
On Tapetide, you can view Power Finance Corporation Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
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
Issued Size 3,30,01,01,760