Power Finance (BOM:532810)

The Hindu Business Line  Dec 18  Comment 
Power Finance Corporation has agreed to extend a Rs 1,112 crore loan to Andhra Pradesh power sector, which includes Rs 1000 crore towards bridging the fund requirement for the powe...
The Economic Times  Dec 18  Comment 
Power Finance Corporation is a buy with a stop of 278, target of 292.
The Economic Times  Dec 15  Comment 
Ahmednagar Forging also corrected and has a good future, so these three would be the top picks right now based on current valuations.
The Economic Times  Dec 1  Comment 
Power Finance Corporation is a 'BUY' call with a target of Rs 321 and a stop loss of Rs 307.50.
The Economic Times  Nov 28  Comment 
Power Finance Corporation is a 'BUY' call target of Rs 318 and a stop loss of Rs 301.
The Economic Times  Nov 10  Comment 
"We are still bullish on LIC Housing Finance, Can Fin Homes, and even power finance companies like Power Finance Corporation."
The Hindu Business Line  Oct 31  Comment 
Power Finance Corporation on Friday reported nearly 11 per cent jump in net profit at Rs 1,408.58 crore for the quarter ended September 30, 2014, on account of increase in income from operations.
The Economic Times  Oct 21  Comment 
Power Finance Corp gains 5 per cent, while Rural Electrification Corp is up 3.6 per cent. Government said on Monday it would auction coal blocks
The Economic Times  Oct 20  Comment 
"Power Finance is a 'BUY' call with a target of Rs 265 and stop loss of 254."
The Economic Times  Oct 16  Comment 
Power Finance Corporation Ltd is a 'BUY' call with a target of Rs 253 and a stop loss of Rs 246.


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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