Power Finance (BOM:532810)

QUOTE AND NEWS
The Hindu Business Line  Feb 25  Comment 
Stocks of power lenders rose today on HSBC upgrade.Rural Electrification Corp and Power Finance Corp gained 2 per cent and 3 per cent, respectively.HSBC has upgraded both stocks to “buy’’ from “hold’’...
The Economic Times  Feb 12  Comment 
The bids can be opened anytime next week by Power Finance Corporation's arm PFC Consulting, which is handling the auction process, the source said.
The Hindu Business Line  Jan 21  Comment 
Investors with a short-term perspective can consider selling the shares of Power Finance Corporation. The stock fell 3.3 per cent on Thursday and has been consistently falling since the last week of ...
The Economic Times  Jan 11  Comment 
The move is aimed at utilising the cash that the two financiers will receive in lieu of loans lent to state-run power distribution companies.
The Hindu Business Line  Dec 21  Comment 
Shares of Power Finance Corporation will turn ex-dividend on Wednesday. The PSU major is rewarding its shareholders with an interim dividend of ₹8.80 a share (face value ₹10). That means, Tuesday...
The Economic Times  Dec 16  Comment 
Power Finance Corporation today declared an interim dividend of Rs 8.80 per share for 2015-16, which will fetch Rs 787.53 crore to the government.
The Economic Times  Dec 14  Comment 
"Power Finance Corporation is a 'BUY' call with a target of Rs 218 and a stop loss of Rs 202.
The Hindu Business Line  Dec 8  Comment 
State-run Power Finance Corporation today said its board will meet next week to consider interim dividend for the ongoing fiscal.“A meeting of the board of directors of the company will be...
The Economic Times  Nov 7  Comment 
Shares of power sector lenders dived on Friday on worries the new restructuring package for the ailing power discoms would impact their earnings.




 

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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