Power Finance (BOM:532810)

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...
The Hindu Business Line  Jun 15  Comment 
Power Finance Corporation (PFC) today said that it will raise external commercial borrowings (ECBs) worth $1 billion. Barclays Bank PLC, Standard Chartered Bank and SBICAPS (Singapore) Lt...
The Economic Times  May 28  Comment 
The company's standalone net profit during corresponding quarter of 2013-14 was Rs 1,411.41 crore, it said in a BSE filing.
The Hindu Business Line  Mar 3  Comment 
Shares of Power Finance Corp may face pressure on Wednesday, as the stock turns ex-dividend. The board of directors had approved ₹8.50 a share as interim dividend for 2014-15. The PSU majo...
The Economic Times  Feb 11  Comment 
Total income from operations rose to Rs 6,434.65 crore in the third quarter of the current fiscal as against Rs 5,540.52 crore in a year ago.
The Hindu Business Line  Feb 11  Comment 
The Hindu Business Line  Feb 10  Comment 
PSU majors such as BPCL, Power Grid Corp, State Trading Corp, Power Finance Corp and MMTC and public sector Syndicate Bank will announce their Q3 numbers on Wednesday. Escorts, Voltas, Godrej Indu...
The Economic Times  Feb 10  Comment 
Power Finance Corporation Ltd is a ‘SELL’ call with a target of Rs 273 and a stop loss of Rs 280.
The Economic Times  Feb 4  Comment 
'Power Finance Corporation Ltd is a 'SELL' call with a target of Rs 275 and a stop loss of Rs 291.'


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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