Power Finance Corporation Ltd

₹ 142 2.20%
03 Feb - close price
About

Power Finance Corporation Limited is a Systemically Important Non-Deposit taking NBFC registered with the RBI as an Infrastructure Finance Company. It is engaged in extending financial assistance to the Indian power sector. [1]

Key Points

Products & Services
The company finances infrastructure projects in the Indian Power sector. Its products include:
Fund Based Products: Project Term loans, Lease financing for purchase of equipment, Short/Medium Term loan to equipment manufacturers, Debt refinancing etc.
Non-Fund Based Products: Deferred payment guarantee, Letter of Comfort (LoC), Policy for guarantee of credit enhancement etc. [1]

  • Market Cap 37,357 Cr.
  • Current Price 142
  • High / Low 162 / 97.1
  • Stock P/E 2.64
  • Book Value 290
  • Dividend Yield 8.48 %
  • ROCE 9.38 %
  • ROE 21.2 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.49 times its book value
  • Stock is providing a good dividend yield of 8.48%.
  • Company has been maintaining a healthy dividend payout of 26.8%

Cons

  • Company has low interest coverage ratio.
  • Contingent liabilities of Rs.11,532 Cr.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
Revenue 15,530 15,873 16,193 16,914 18,158 18,435 18,149 18,965 19,268 19,176 18,853 18,532 19,336
Interest 10,153 10,264 10,491 10,869 11,240 11,330 11,244 11,313 11,235 11,235 10,926 10,837 11,413
1,760 780 4,184 1,437 1,641 2,135 1,908 2,089 1,747 1,889 2,493 2,184 1,316
Financing Profit 3,617 4,828 1,518 4,608 5,277 4,970 4,997 5,563 6,286 6,052 5,435 5,511 6,608
Financing Margin % 23% 30% 9% 27% 29% 27% 28% 29% 33% 32% 29% 30% 34%
8 12 65 23 18 7 16 7 15 39 20 12 8
Depreciation 6 6 8 6 6 7 7 7 9 9 10 12 12
Profit before tax 3,620 4,834 1,576 4,626 5,289 4,970 5,006 5,564 6,291 6,082 5,446 5,511 6,604
Tax % 31% 30% 56% 23% 19% 20% 22% 18% 20% 20% 21% 17% 21%
Net Profit 2,497 3,387 694 3,557 4,290 3,963 3,906 4,555 5,023 4,894 4,296 4,580 5,229
EPS in Rs 7.09 9.84 1.78 10.16 12.31 10.96 11.07 13.18 14.20 13.56 12.14 12.94 14.91
Gross NPA % 8.00% 7.41% 6.83% 6.21% 5.48% 5.29% 5.25% 5.17% 5.02%
Net NPA % 3.89% 3.56% 3.15% 2.60% 2.12% 1.91% 1.80% 1.72% 1.57% 1.27%
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
Revenue 10,178 13,092 17,314 21,407 24,988 27,861 27,581 48,624 54,106 62,189 71,656 76,262 75,897
Interest 6,426 8,595 10,995 13,053 15,456 16,657 16,768 30,289 34,627 40,845 44,684 44,709 44,411
197 351 331 748 1,103 2,042 5,538 6,583 1,696 7,332 7,102 8,215 7,881
Financing Profit 3,555 4,146 5,987 7,607 8,429 9,162 5,275 11,752 17,783 14,012 19,871 23,338 23,605
Financing Margin % 35% 32% 35% 36% 34% 33% 19% 24% 33% 23% 28% 31% 31%
36 5 12 23 25 25 30 42 94 105 46 79 80
Depreciation 5 6 6 5 8 20 41 15 15 24 25 35 42
Profit before tax 3,586 4,146 5,994 7,624 8,446 9,167 5,264 11,779 17,862 14,093 19,891 23,382 23,643
Tax % 26% 26% 26% 28% 29% 33% 58% 25% 29% 33% 21% 20%
Net Profit 2,647 3,059 4,438 5,462 6,004 6,184 2,236 8,797 12,640 9,477 15,716 18,768 18,999
EPS in Rs 11.53 11.59 16.81 20.69 22.74 23.42 8.47 25.34 37.58 26.98 44.50 53.08 53.55
Dividend Payout % 22% 26% 21% 22% 20% 30% 59% 31% 0% 35% 22% 23%
Compounded Sales Growth
10 Years: 19%
5 Years: 23%
3 Years: 12%
TTM: 1%
Compounded Profit Growth
10 Years: 16%
5 Years: 44%
3 Years: 12%
TTM: 8%
Stock Price CAGR
10 Years: 3%
5 Years: 5%
3 Years: 5%
1 Year: 18%
Return on Equity
10 Years: 18%
5 Years: 20%
3 Years: 19%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
1,148 1,320 1,320 1,320 1,320 1,320 2,640 2,640 2,640 2,640 2,640 2,640 2,640
Reserves 14,093 19,473 22,360 26,202 31,091 34,708 34,205 37,194 44,481 46,760 58,127 69,036 73,866
76,275 110,126 139,473 159,215 187,795 200,660 202,993 441,151 539,488 596,561 659,682 660,476 674,847
13,210 4,763 6,178 7,582 8,705 10,531 19,700 41,546 42,260 48,560 55,257 58,848 59,887
Total Liabilities 104,725 135,682 169,330 194,320 228,912 247,220 259,537 522,531 628,869 694,521 775,707 791,000 811,240
75 77 75 72 102 198 296 161 196 238 341 719 737
CWIP 2 0 0 1 2 47 105 129 199 288 336 53 41
Investments 27 27 27 27 528 2,230 3,145 5,493 4,604 4,404 3,499 3,774 5,103
104,622 135,578 169,229 194,220 228,280 244,745 255,990 516,749 623,871 689,590 771,530 786,454 805,359
Total Assets 104,725 135,682 169,330 194,320 228,912 247,220 259,537 522,531 628,869 694,521 775,707 791,000 811,240

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-16,641 -27,031 -25,102 -22,473 -21,455 -13,298 1,795 -57,148 -80,252 -42,148 -59,143 1,632
-21 -36 22 9 -491 -1,973 -667 1,409 -13,463 -73 1,741 -367
17,580 26,676 27,947 17,671 26,916 10,383 1,950 52,018 93,616 43,399 60,424 -5,279
Net Cash Flow 919 -390 2,868 -4,793 4,970 -4,888 3,079 -3,720 -98 1,179 3,023 -4,014

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
ROE % 18% 17% 20% 21% 20% 18% 6% 17% 23% 15% 21% 21%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
55.99 55.99 55.99 55.99 55.99 55.99 55.99 55.99 55.99 55.99 55.99 55.99
18.92 17.45 16.81 17.37 17.32 17.35 17.88 16.71 16.76 16.21 16.82 16.85
20.40 21.12 20.67 20.18 19.55 19.37 13.66 13.58 13.58 12.74 17.22 17.87
4.68 5.43 6.53 6.45 7.14 7.28 12.47 13.72 13.66 15.05 9.95 9.26

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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