Power Finance (BOM:532810)

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
The Hindu Business Line  Mar 20  Comment 
State-owned Power Finance Corp today said it has sanctioned Rs 9,128 crore in financial assistance to power units in Tamil Nadu. PFC said in a statement that it has sanctioned “a term loan of Rs 5,...
The Economic Times  Mar 7  Comment 
According to the statement, WBPDCL is a company owned by the West Bengal government for generation and supply of electric power in the state.
The Hindu Business Line  Mar 7  Comment 
The Economic Times  Feb 16  Comment 
Sell Power Finance Corporation Ltd. at a price target of Rs 126.9 and a stop loss at Rs 131.6 from entry point
The Economic Times  Feb 13  Comment 
Disbursements in the third quarter increased by 13 per cent to Rs 12,150 crore from Rs 10,755 crore in the same period a year ago.
The Economic Times  Dec 30  Comment 
Buy Power Finance Corporation Ltd. at a price target of Rs 126 and a stop loss at Rs 119 from entry point
The Economic Times  Dec 27  Comment 
Sell Power Finance Corporation Ltd. at a price target of Rs 103 and a stop loss at Rs 121 from entry point
The Economic Times  Dec 21  Comment 
There is no risk from SEB exposure; losses on private projects


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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