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    Financial - Credit Services
Power Finance Corporation Limited

Power Finance Corporation Limited

PFC.NS
Power Finance Corporation LimitedIN flagNational Stock Exchange of India
421.10
INR
-4.70
- -
1.39TMarket Cap
Power Finance Corporation Limited
PFC.NS
(National Stock Exchange of India)

Recent

price

421.10

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
1,353,918
1,172,821
1,252,325

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) operates as a non-banking financial company specializing in providing financial assistance to the power sector in India. Its core products and services include fund-based assistance such as term loans and working capital loans to power generation, transmission, and distribution companies; lending to logistics and infrastructure sectors related to power; facilitating projects promoting renewable energy; and financing initiatives under government schemes like the Revamped Distribution Sector Scheme (RDSS). The company also acts as a nodal agency for mobilizing funds from international financial institutions and government programs for power sector development. Founded in 1986 and headquartered in New Delhi, India, PFC primarily serves Indian power sector entities and infrastructure projects. Recent major changes include strategic partnerships and funding collaborations to support India's energy transition toward cleaner sources. In 2025, PFC entered a strategic collaboration with Export Finance Australia (EFA) and Citi to mobilize $180 million aimed at backing India's clean energy projects, marking EFA’s first financing initiative in India and expanding PFC’s access to competitive long-term funding. Additionally, PFC secured a EUR 150 million loan from German lender KfW to support projects under the RDSS. These partnerships exemplify PFC’s focus on diversifying funding sources, building global strategic alliances, and reinforcing its role in sustainable finance to support India’s low-carbon economy transition. The company also continues to hold a majority equity stake and management control in REC Limited, further expanding its portfolio in power sector financing. PFC operates primarily within India but leverages global financial partnerships to fund domestic power sector projects. It employs approximately 540 employees and reported significant lending growth to power and infrastructure sectors over recent years. The company’s strategic focus remains on expanding clean energy financing solutions and supporting government initiatives to modernize and strengthen India’s power infrastructure framework. Recent financial performance reflects robust revenue growth driven by increased lending activities to power, logistics, and infrastructure sector entities. As a government-owned entity under the Ministry of Power, PFC plays a critical role in India's power sector financing landscape, backed by strong government support and an expanding strategic alliance network internationally.