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    Financial - Credit Services
Power Finance Corporation Limited

Power Finance Corporation Limited

PFC.BO
Power Finance Corporation LimitedIN flagBombay Stock Exchange
413.15
INR
-7.60
- -
1.36TMarket Cap
Power Finance Corporation Limited
PFC.BO
(Bombay Stock Exchange)

Recent

price

413.15

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
35.46
14.85
9.83
12.7
29
34.27
33.79
52.49
54.96
51.61
81.19
91.62
83.38
101.71
126.74
131.02
131.02
Revenue per Share
9.22
9.45
6.72
8.28
18.19
18.74
6.78
20.27
30.06
21.58
35.6
42.47
48.15
59.88
69.67
78.49
78.49
Basic EPS, GAAP
-58.01
-83.52
-38.03
-34.05
-65.02
-40.43
5.27
-173.44
-243.48
-128.11
-179.5
13.95
-226.78
-297.4
-282.16
-14.67
- -
Free Cash Flow per Basic Share
- -
3.08
1.63
2.29
3.48
5.56
0.24
13.53
7.61
10.71
9.52
13.66
12.48
18.64
24.68
26.93
- -
Dividend per Share
18.49
19.49
11.49
13.69
31.44
31.71
33.98
28.87
35.36
32.48
37.58
46.66
63.26
80.95
98.15
10
10
Book Value per Share
53.1
64.21
35.87
41.7
98.21
109.17
157.61
167.46
192.34
200.46
247.82
291.72
339.29
406.89
470.12
525.53
525.52
Tangible Book Value per Share
2,870
3,238
6,600
6,600
3,300
3,300
3,300
3,300
3,300
3,300
3,300
3,300
3,300
3,300
3,300
3,300
3,300
Basic Weighted Avg Shares
101,750
48,081
64,900
83,852
95,718
113,088
111,506
173,228
181,373
170,308
267,943
302,370
275,174
335,664
418,243
432,366
432,370
Sales/Revenue/Turnover
98.17
262.17
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
276
55
60
52
79
201
410
147
155
244
254
348
518
534
557
630
630
Depreciation Expense
26,471
30,588
44,377
54,618
60,044
61,840
22,361
66,887
99,209
71,221
117,478
140,148
158,893
197,612
229,908
259,010
259,010
Net Income, GAAP
26.17
26.22
25.96
28.36
28.91
32.54
57.52
25.32
29.23
32.75
20.99
19.73
20.07
21.22
21.01
21.53
21.53
Effective Tax Rate (%)
26.02
63.62
68.38
65.14
62.73
54.68
20.05
38.61
54.7
41.82
43.84
46.35
57.74
58.87
54.97
59.91
59.9
Profit Margin (%)
-16,691
45,922
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
699,840
1,101,347
1,394,808
1,592,218
1,878,015
2,006,723
3,880,667
4,502,759
5,625,925
6,234,789
6,892,624
6,899,718
7,806,406
8,915,026
10,008,104
10,125,035
10,125,035
LT Debt
152,408
207,930
236,797
275,223
324,114
360,283
520,155
552,698
634,843
661,654
817,902
962,752
1,119,813
1,342,885
1,551,552
1,734,410
1,734,410
Total Equity
8.06
7.56
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
8.9
8.24
3.2
3.46
3.28
3.02
0.72
1.03
1.35
0.77
1.13
1.28
1.36
1.47
1.53
1.71
1.71
Return on Capital (%)
54.59
52.67
63.87
65.71
61.86
59.35
20.63
64.5
93.61
63.62
101.62
100.83
87.61
83.05
77.8
145.14
145.14
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,300
- -
3,300
Market Capitalization
1,354,248
1,172,821
1,252,820

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
60,326
- -
46,727
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.46%
16.25%
11.79%
Free Cash Flow
-537.46%
-380.46%
-94.8%
Net Income, GAAP
30.64%
17.21%
12.66%
Sales/Revenue/Turnover
16.37%
10.76%
3.38%
Total Cash Common Dividend
553.19%
25.14%
9.12%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
77,943
80,600
86,080
91,124
335,664
2025
97,186
95,431
102,804
122,779
418,243
2026
102,878
108,415
110,894
110,182
432,366

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
13.87
14.65
14.33
- -
59.88
2025
16.8
16.07
17.66
19.14
69.67
2026
20.81
17.4
19.07
21.21
78.49

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
5.9
- -
18.64
2025
- -
- -
- -
- -
24.68
2026
- -
- -
- -
- -
26.93
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Business
Power Finance Corporation Limited (PFC) is a government-owned non-banking finance company operating primarily in the infrastructure finance sector with a focus on the power industry. Established in 1986 and headquartered in New Delhi, India, PFC provides a comprehensive suite of financial products and advisory services catering to the power generation, transmission, and distribution segments. Its core offerings include project term loans in both rupee and foreign currency, lease financing for power equipment and renewable energy projects, bill discounting for equipment manufacturers, guarantee services to enhance loan access, loan syndication with other financial institutions, short-term working capital loans, and capital gains bonds under Section 54EC. Additionally, PFC supports green and renewable energy financing with interest rate rebates and has successfully raised funds through green bonds, promoting sustainable energy infrastructure. Beyond funding, PFC also delivers consulting and institutional development services including operational and financial plans, utility reforms, energy efficiency projects, and support for government-backed schemes such as Ultra Mega Power Projects and the National Smart Grid Mission. In recent major developments, PFC incorporated a wholly-owned subsidiary, PFC Consulting Limited, to expand its consultancy and advisory capabilities. It entered a strategic credit line agreement with the Japan Bank for International Cooperation (JBIC) in 2025 to finance renewable and next-generation energy projects, enhancing its role in supporting sustainable power infrastructure. Additionally, PFC has maintained significant dividend payouts and pursued strategic funding through corporate bonds approved by the Indian government to bolster liquidity and lending capacity in the power sector. The company also saw a minor equity acquisition by Maithan Alloys Limited in mid-2024, reflecting investor interest without affecting operational control. PFC continues to strengthen its position as India’s premier power sector financier and infrastructure development partner across domestic markets and collaborative international financing arrangements.