Power Finance (BOM:532810)

The Economic Times  Jun 13  Comment 
Buy Power Finance Corporation Ltd. at a price target of Rs 150 and a stop loss at Rs 120 from entry point
The Economic Times  Jun 7  Comment 
The company will raise fund through external commercial bonds, rupee denominated masala bonds and other instruments, he said.
The Economic Times  Jun 7  Comment 
Power Finance Corporation (PFC) incurred net loss of Rs 3,400 crore.
The Economic Times  Jun 1  Comment 
The firm will expand into refinancing and launch special financial packages for power transmission projects won through competitive bidding, chairman Rajeev Sharma told ET.
The Hindu Business Line  May 30  Comment 
Shares of Power Finance Corp declined by nearly 10 per cent today after the company reported a standalone net loss of Rs 3,409.49 crore for the quarter ended March 31, 2017. The stock fell 9.77 per...
The Economic Times  May 5  Comment 
Buy Power Finance Corporation Ltd. at a price target of Rs 170.0 and a stop loss at Rs 162.0 from entry point
The Economic Times  Apr 24  Comment 
Buy Power Finance Corporation Ltd. at a price target of Rs 161.0 and a stoploss at Rs 153.0 from entry point
The Economic Times  Mar 30  Comment 
Buy Power Finance Corporation Ltd. at a price target of Rs 161 and a stop loss at Rs 141 from entry point
The Economic Times  Mar 29  Comment 
Lenders now own close to 58% equity stake and Guggenheim 32%, reducing Kasliwal to a minority shareholder with 10% stake, said two senior bank officials.
The Economic Times  Mar 29  Comment 
Buy Power Finance Corporation Ltd. at a price target of Rs 156 and a stop loss at Rs 140 from entry point


Power Finance Corporation (PFC) is a leading power sector public financial institution and a non-banking financial company (NBFC) providing fund and non-fund based support for the development of the Indian power sector. PFC commenced its operations in fiscal 1988 as part of the Government of India’s initiative to enhance funding of power projects in India. It initially provided funding to power projects for state electricity boards (SEBs) and power departments. In line with the government’s decision to encourage private sector participation, it began financing power projects in the private sector from fiscal 1997. It has been designated as the nodal agency by the Government of India for the development of seven ultra mega power projects. As of November 30, 2006, the company had incorporated seven wholly owned subsidiary companies to act as special purpose vehicles (SPVs) for these projects. The NBFC was granted ‘Navratna’ status in 2007.

In FY09, PFC reported 25% YoY growth in net interest income on the back of 25% YoY growth in advances. Despite of decline in approvals, disbursements were higher by 30%. The difference in sanctions and disbursements is because PFC is a project driven organization. Net interest margin improved from 3.7% in FY08 to 3.8% in FY09.The quality of PFC's loan portfolio continued to be excellent, with gross non-performing loans at just 0.02% of total loan portfolio.

PFC will continue to maintain its good asset quality position due to its strong credit and project appraisal skills and disciplined risk management practices. Its ability to access long term funding sets it apart from financial institutions in the private sector. Given the investment opportunities in infrastructure segment, particularly power, the growth potential is immense. The softening of interest rates also reduces the likelihood of bad debts.

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