Power Finance Corporation Ltd

Power Finance Corporation Ltd

₹ 555 -0.54%
16 Jul 11:11 a.m.
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:
A) Fund-Based Products: Project Term loans, Lease financing for the purchase of equipment, Short/Medium Term loans to equipment manufacturers, Debt refinancing, etc.
B) Non-Fund Based Products: Deferred payment guarantee, Letter of Comfort (LoC), Policy for a guarantee of credit enhancement, etc. [1]

  • Market Cap 1,83,156 Cr.
  • Current Price 555
  • High / Low 580 / 176
  • Stock P/E 9.26
  • Book Value 306
  • Dividend Yield 1.96 %
  • ROCE 9.85 %
  • ROE 21.3 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 22.4%
  • Company's working capital requirements have reduced from 35.2 days to 23.3 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 11.0% over past five years.
  • 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.

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 18,149 18,965 19,268 19,176 18,853 18,532 19,336 19,639 20,061 20,992 22,391 23,572 24,141
Interest 11,244 11,313 11,235 11,235 10,926 10,837 11,413 12,129 12,637 13,670 14,313 14,827 15,152
1,908 2,089 1,747 1,887 2,493 2,184 1,316 900 -339 -81 -551 791 -588
Financing Profit 4,997 5,563 6,286 6,053 5,435 5,511 6,608 6,610 7,763 7,404 8,629 7,954 9,577
Financing Margin % 28% 29% 33% 32% 29% 30% 34% 34% 39% 35% 39% 34% 40%
16 7 15 38 20 12 8 24 13 9 13 22 35
Depreciation 7 7 9 9 10 12 12 14 14 12 13 14 15
Profit before tax 5,006 5,564 6,291 6,082 5,446 5,511 6,604 6,619 7,762 7,401 8,629 7,961 9,597
Tax % 22% 18% 20% 20% 21% 17% 21% 21% 21% 19% 23% 21% 21%
3,906 4,555 5,023 4,894 4,296 4,580 5,229 5,241 6,129 5,982 6,628 6,294 7,556
EPS in Rs 8.85 10.55 11.36 10.85 9.71 10.35 11.92 11.70 14.17 13.87 14.65 14.33 17.04
Gross NPA % 5.29% 5.25% 5.17% 5.02% 5.02% 4.38% 3.91% 3.66% 3.54% 3.40% 3.13% 3.02%
Net NPA % 1.91% 1.80% 1.72% 1.86% 1.60% 1.57% 1.27% 1.15% 1.03% 1.00% 0.98% 0.86% 0.85%
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Revenue 17,314 21,407 24,988 27,861 27,581 48,624 54,106 62,189 71,656 76,262 77,568 91,097
Interest 10,995 13,053 15,456 16,657 16,768 30,289 34,627 40,845 44,684 44,709 47,017 57,962
331 748 1,103 2,042 5,538 6,583 1,696 7,332 7,102 8,215 4,051 -429
Financing Profit 5,987 7,607 8,429 9,162 5,275 11,752 17,783 14,012 19,871 23,338 26,501 33,563
Financing Margin % 35% 36% 34% 33% 19% 24% 33% 23% 28% 31% 34% 37%
12 23 25 25 30 42 94 105 46 79 47 78
Depreciation 6 5 8 20 41 15 15 24 25 35 52 53
Profit before tax 5,994 7,624 8,446 9,167 5,264 11,779 17,862 14,093 19,891 23,382 26,496 33,588
Tax % 26% 28% 29% 33% 58% 25% 29% 33% 21% 20% 20% 21%
4,438 5,462 6,004 6,184 2,236 8,797 12,640 9,477 15,716 18,768 21,179 26,461
EPS in Rs 13.45 16.55 18.19 18.74 6.78 20.27 30.06 21.58 35.60 42.47 48.15 59.88
Dividend Payout % 21% 22% 20% 30% 59% 31% 0% 35% 22% 23% 22% 23%
Compounded Sales Growth
10 Years: 16%
5 Years: 11%
3 Years: 8%
TTM: 17%
Compounded Profit Growth
10 Years: 14%
5 Years: 15%
3 Years: 19%
TTM: 24%
Stock Price CAGR
10 Years: 18%
5 Years: 42%
3 Years: 76%
1 Year: 212%
Return on Equity
10 Years: 19%
5 Years: 20%
3 Years: 21%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 1,320 1,320 1,320 1,320 2,640 2,640 2,640 2,640 2,640 2,640 2,640 3,300
Reserves 22,360 26,202 31,091 34,708 34,205 37,194 44,481 46,760 58,127 69,036 81,518 97,847
139,473 159,215 187,795 200,660 202,993 441,151 539,488 596,561 659,682 660,476 751,158 861,961
6,178 7,582 8,705 10,531 19,700 41,546 42,260 48,560 55,257 58,848 60,796 75,770
Total Liabilities 169,330 194,320 228,912 247,220 259,537 522,531 628,869 694,521 775,707 791,000 896,112 1,038,877
75 72 102 198 296 161 196 238 341 719 782 776
CWIP 0 1 2 47 105 129 199 288 336 53 22 28
Investments 27 27 528 2,230 3,145 5,493 4,604 4,404 3,499 3,774 5,973 10,971
169,229 194,220 228,280 244,745 255,990 516,749 623,871 689,590 771,530 786,454 889,334 1,027,102
Total Assets 169,330 194,320 228,912 247,220 259,537 522,531 628,869 694,521 775,707 791,000 896,112 1,038,877

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-25,102 -22,473 -21,455 -13,298 1,795 -57,148 -80,252 -42,148 -59,143 4,904 -74,699 -97,820
22 9 -491 -1,973 -667 1,409 -13,463 -73 1,741 -547 -1,694 -3,409
27,947 17,671 26,916 10,383 1,950 52,018 93,616 43,399 60,424 -8,371 75,518 101,261
Net Cash Flow 2,868 -4,793 4,970 -4,888 3,079 -3,720 -98 1,179 3,023 -4,014 -874 32

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 20% 21% 20% 18% 6% 17% 23% 15% 21% 21% 20% 21%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
55.99% 55.99% 55.99% 55.99% 55.99% 55.99% 55.99% 55.99% 55.99% 55.99% 55.99% 55.99%
17.35% 17.88% 16.71% 16.76% 16.21% 16.82% 16.85% 16.49% 17.49% 16.85% 17.85% 17.19%
19.37% 13.66% 13.58% 13.58% 12.74% 17.22% 17.87% 18.63% 18.10% 17.86% 17.47% 18.21%
7.28% 12.47% 13.72% 13.66% 15.05% 9.95% 9.26% 8.89% 8.42% 9.29% 8.66% 8.58%
No. of Shareholders 3,43,6903,21,5943,83,0464,17,3374,45,8344,60,8934,19,1224,29,3974,32,0845,33,3755,97,3157,07,579

* 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.

Click on the line-items to see the names of individual entities.

Documents

Concalls