Power Finance (BOM:532810)

QUOTE AND NEWS
The Hindu Business Line  Aug 14  Comment 
Power Finance Corporation today reported a 8.8 per cent rise in standalone net profit at Rs 1,576.21 crore for the quarter ended June 30, on the back of higher revenues.The net profit durin...
The Economic Times  Jul 31  Comment 
Traders went short on the stock in the futures market at a price of Rs 254-55. To cover these shorts, they bid at a higher cut-off price in the OFS issue in the retail category.
Reuters  Jul 27  Comment 
India is set to raise about $260 million from a sale of 5 percent stake in Power Finance Corp Ltd , after the share auction received bids for more than twice the number on offer.
The Times of India  Jul 26  Comment 
The central government has set a floor price at Rs 254 per equity share for divestment of 5 per cent of its stake in Power Finance Corp (PFC) on Monday.
The Times of India  Jul 25  Comment 
The Indian government has set the base price for the offering of shares in state-run Power Finance Corp Ltd at 254 rupees a share.
The Hindu Business Line  Jul 25  Comment 
The Government has set the floor price at Rs 254 per equity share for the divestment of five per cent of its stake in Power Finance Corporation (PFC) on July 27.“...the floor price of the o...
The Economic Times  Jul 24  Comment 
India will sell a 5 per cent stake in state-run Power Finance Corp Ltd on Monday in a stock market transaction that could raise up to $267 million.
The Hindu Business Line  Jul 15  Comment 
Adani Power has won all three transmission projects in Chhattisgarh worth over ₹3,500 crore that were up for auction by the Power Finance Corporation. The Gautam Adani-led company beat V...
The Hindu Business Line  Jun 18  Comment 
Standard & Poor’s Ratings Services today assigned its ‘BBB—’ long-term issue rating to a proposed USD denominated unsecured notes by the state-run Power Finance Corporation (PFC).“Stand...
The Hindu Business Line  Jun 16  Comment 
Power Finance Corporation said on Monday that the company will raise $1 billion through foreign currency denominated bonds. In a filing with the BSE, the company said that Barclays B...




 

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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