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Power Finance Corporation

PFC NSE
₹322.50 +4.50 (+1.42%)
P/E
4.09
View as Markdown
MCP
Close 4 Nov 2026 ₹322.50 −63.60 −16.5% 1Y
Start ₹386.10

Key Fundamentals

MidcapFinanceFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

Debt to Equity
7.62
EPS (TTM)
₹78.93
Book Value
₹433.11
Market Cap
—
P/E (TTM)
4.09
P/B
0.74
ROE
20.70%
Dividend Yield
1.23%
52W High
₹486.50
52W Low
₹310.30
Day Range
₹314.45 – ₹325.45
Volume
1,14,37,742
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › Financial Institution

Power Finance Corporation peer comparison
Power Finance Corporation (this company)
₹322.504.09₹1,05,884 Cr0.741.23%20.70%—₹1,15,431 Cr₹33,642 Cr
IRFC
₹77.8413.80₹1,00,876 Cr1.681.52%12.80%—₹30,125 Cr₹7,371 Cr
REC
₹287.004.71₹75,534 Cr0.792.72%20.10%—₹59,202 Cr₹16,035 Cr
HUDCO
₹153.067.20₹29,482 Cr1.490.86%20.00%—₹13,930 Cr₹4,255 Cr
IREDA
₹106.0015.14₹29,202 Cr2.081.32%15.60%—₹8,897 Cr₹1,970 Cr
IFCI
₹59.4292.84₹15,778 Cr1.790.00%1.97%—₹1,988 Cr₹432 Cr
Tourism Finance Corporation of India
₹160.8948.32₹7,170 Cr5.660.37%9.75%—₹291 Cr₹154 Cr
Median 7 companies₹153.0613.80₹29,482 Cr1.681.23%15.60%—₹13,930 Cr₹4,255 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

52 Average

Data confidence 94/100

Category scores

Quality
64
Good
Returns, margins, earnings quality 22% weight
Valuation
82
Strong
Cheap vs sector & own history 24% weight
Growth
24
Poor
Sales & profit trajectory 9% weight
Financial Health
33
Poor
Solvency, leverage, coverage 9% weight
Momentum
8
Poor
Trend strength, vol-adjusted 12% weight
Ownership
47
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Stock is trading at 0.77 times its book value
  • Stock is providing a good dividend yield of 5.67%.
  • Company has been maintaining a healthy dividend payout of 23.0%
  • Company's working capital requirements have reduced from 19.2 days to 14.8 days

Weaknesses

3
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 10.0% over past five years.
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish964
OscillatorsBullish162
Moving AveragesStrong Bearish802

Key readings

RSI (14)
44.43
Neutral
MACD (12,26,9)
−6.20
Bullish
SMA (50)
337.14
Bearish
SMA (200)
396.60
Bearish

As of

Analyst Rating

Based on 14 analysts
BUY86%

12 of 14 analysts rate Buy, 2 Hold, 0 Sell.

As of

BUY
12
86%
HOLD
2
14%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+15.28%
5Y+10.01%
3Y+14.17%
1Y+8.40%
TTM+4.63%

Net profit

Net profit growth by window
10Y+18.45%
5Y+16.43%
3Y+16.66%
1Y+10.20%
TTM+4.11%

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹27,581 Cr
Mar 2018₹48,624 Cr
Mar 2019₹54,106 Cr
Mar 2020₹62,189 Cr
Mar 2021₹71,656 Cr
Mar 2022₹76,262 Cr
Mar 2023₹77,568 Cr
Mar 2024₹91,508 Cr
Mar 2025₹1,06,502 Cr
Mar 2026₹1,15,450 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹2,236 Cr
Mar 2018₹8,797 Cr
Mar 2019₹12,640 Cr
Mar 2020₹9,477 Cr
Mar 2021₹15,716 Cr
Mar 2022₹18,768 Cr
Mar 2023₹21,179 Cr
Mar 2024₹26,461 Cr
Mar 2025₹30,514 Cr
Mar 2026₹33,625 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹59.48 −24.2% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk high

Power Finance Corporation Ltd trades at ₹318.5 as of 2026-11-02 with a market cap of ₹1,04,580 crore, sitting just 2.6% above its 52-week low of ₹310.3 and 34.5% below its 52-week high of ₹486.5. The stock carries a P/E of 4.04 and a P/B of 0.74, reflecting deep value territory, while delivering a 10-year compounded profit growth of 15% and ROE consistently around 20-21%.

Bull Case 8
  • Stock trades at a P/B of just 0.74 as of 2026-11-02, meaning investors are paying less than book value for each share — unusual for a company with consistent profitability.
  • TTM P/E of 4.04 is exceptionally low, implying the market is pricing in significant pessimism relative to the TTM EPS of ₹78.93.
  • Dividend yield stands at 5.67% with a consistent payout ratio of 23.0%, providing a meaningful income floor for shareholders.
  • ROE has remained consistently high at 20-21% over the 3-year, 5-year, and last-year periods, and averages 20% over the past decade, indicating sustained capital efficiency.
  • Compounded profit growth of 15% over 10 years and 18% over 3 years demonstrates long-term earnings compounding capability.
  • Working capital requirements have improved from 19.2 days to 14.8 days, signalling better operational efficiency and cash conversion.
  • 5-year stock CAGR of 25% shows that despite the recent correction, longer-term shareholders have been rewarded with strong capital appreciation.
  • 10-year compounded sales growth of 15% indicates the loan book has expanded meaningfully over a full business cycle.
Bear Case 8
  • The stock has declined 17% over the past 1 year and is down 34.5% from its 52-week high of ₹486.5, reflecting strong negative momentum.
  • Low interest coverage ratio poses a structural risk, as even moderate stress in borrowing costs or asset quality could pressure profitability.
  • TTM revenue growth has decelerated to just 5%, down sharply from the 14% three-year compounded sales growth, suggesting slowing loan book expansion.
  • TTM profit growth has similarly slowed to 7% compared to the 18% three-year CAGR, indicating earnings momentum is fading.
  • Five-year compounded sales growth of only 10% is modest for a lending institution operating in a growing infrastructure economy.
  • Potential capitalisation of interest costs could mean reported profitability overstates actual cash generation and true asset quality.
  • ROCE of 9.59% is notably lower than the ROE of 19.39%, highlighting the heavy leverage inherent in the business model and the spread compression risk that comes with it.
  • As a concentrated lender to the power sector, the company's credit book is inherently exposed to the financial health of state distribution utilities, a historically stressed segment.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: PFC is executing well operationally with Q2FY27 profit up 11.8% YoY and beating estimates, while the transformative PFC-REC merger has cleared RBI and stock exchange approvals. The company continues expanding its transmission SPV pipeline across multiple states. No material headwinds are visible in recent news flow, and the merger progress and steady earnings trajectory point to an improving outlook, though final merger approvals from shareholders and creditors remain pending.

Positives 2
  • PFC-REC merger clears key hurdles Oct 21

    RBI issued NOC on Oct 15 and NSE/BSE cleared the PFC-REC merger on Oct 19 with an 88:100 share swap ratio. The merged entity would have a combined loan book exceeding ₹11 lakh crore, though shareholder and creditor approvals are still pending.

  • Q2FY27 profit beats estimates Nov 4

    PFC standalone net profit rose 11.8% YoY to ₹4,987 crore in Q2FY27, beating consensus estimate of ₹4,700 crore by ~6%. Board declared a second interim dividend of ₹4.10 per share for FY27.

Neutral 4
  • New J&K transmission SPV formed Nov 4

    PFC incorporated Siot Rajouri Akhnoor Transmission Limited for a 400/220 kV grid substation in J&K, the fifth SPV formed in the month alongside projects in Rajasthan, Maharashtra, and Tamil Nadu.

  • Kadapa II REZ SPV set up Oct 15

    PFC incorporated Kadapa II REZ Transmission Limited as a subsidiary to manage preparatory works for the Kadapa-II transmission project.

  • ₹636 crore large block trade Oct 13

    PFC shares worth ~₹635.90 crore changed hands via large trades across NSE (~10.2 million shares at ₹334.65) and BSE (~8.7 million shares at ₹335.20).

Quarterly Results

₹ Cr
PFC quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
21,009
22,391
23,572
24,141
24,717
25,722
26,798
29,265
28,539
28,890
29,095
28,920
28,527
Expenses
−65
−551
791
−589
310
366
429
2,148
212
1,514
1,031
416
35
Financing Profit
7,404
8,629
7,954
9,577
8,886
9,348
9,807
10,550
11,123
10,062
10,492
11,170
11,242
Fin. Margin %
35%
39%
34%
40%
36%
36%
37%
36%
39%
35%
36%
39%
39%
Other Income
9
13
22
35
20
33
24
20
90
11
27
−63
36
Interest
13,670
14,313
14,827
15,154
15,521
16,008
16,562
16,567
17,204
17,314
17,572
17,333
17,250
Depreciation
12
13
14
15
12
13
15
16
14
15
18
16
18
PBT
7,401
8,629
7,961
9,597
8,894
9,368
9,816
10,555
11,199
10,057
10,502
11,092
11,260
Tax %
19%
23%
21%
21%
19%
23%
21%
21%
20%
22%
22%
22%
20%
Net Profit
5,982
6,628
6,294
7,556
7,182
7,215
7,760
8,358
8,981
7,834
8,212
8,598
8,998
EPS (₹)
13.87
14.65
14.33
17.04
16.8
16.07
17.66
19.14
20.81
17.4
19.07
21.21
21.25
Gross NPA %
3.54%
3.4%
3.13%
3.02%
2.97%
2.62%
2.3%
1.64%
1.47%
1.45%
1.26%
0.66%
0.66%
Net NPA %
1%
0.98%
0.86%
0.85%
0.84%
0.8%
0.73%
0.38%
0.31%
0.3%
0.23%
0.13%
0.13%

Profit & Loss

₹ Cr
PFC profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
24,988
27,861
27,581
48,624
54,106
62,189
71,656
76,262
77,568
91,508
1,06,502
1,15,450
1,15,431
Expenses
1,103
2,042
5,538
6,583
1,696
7,332
7,102
8,215
4,051
−33
3,255
3,171
2,996
Financing Profit
8,429
9,162
5,275
11,752
17,783
14,012
19,871
23,338
26,501
33,573
38,603
42,864
42,966
Fin. Margin %
34%
33%
19%
24%
33%
23%
28%
31%
34%
37%
36%
37%
37%
Other Income
25
25
30
42
94
105
46
79
47
69
85
49
12
Interest
15,456
16,657
16,768
30,289
34,627
40,845
44,684
44,709
47,017
57,968
64,644
69,415
69,470
Depreciation
8
20
41
15
15
24
25
35
52
53
56
63
67
PBT
8,446
9,167
5,264
11,779
17,862
14,093
19,891
23,382
26,496
33,588
38,632
42,850
42,911
Tax %
29%
33%
58%
25%
29%
33%
21%
20%
20%
21%
21%
22%
—
Net Profit
6,004
6,184
2,236
8,797
12,640
9,477
15,716
18,768
21,179
26,461
30,514
33,625
33,642
EPS (₹)
18.19
18.74
6.78
20.27
30.06
21.58
35.6
42.47
48.15
59.88
69.67
78.49
78.93
Div. Payout %
20%
30%
59%
31%
0%
35%
22%
23%
22%
23%
23%
24%
—

Balance Sheet

₹ Cr
PFC balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
1,320
1,320
2,640
2,640
2,640
2,640
2,640
2,640
2,640
3,300
3,300
3,300
Reserves
31,091
34,708
34,205
37,194
44,481
46,760
58,127
69,036
81,518
97,847
1,14,438
1,29,561
Borrowing
1,87,795
2,00,660
2,02,993
4,41,151
5,39,488
5,96,561
6,59,682
6,60,476
7,51,158
8,61,961
9,71,758
10,12,503
Other Liabilities
8,705
10,531
19,700
41,546
42,260
48,560
55,257
58,848
60,796
75,770
88,590
99,214
Total Liabilities
2,28,912
2,47,220
2,59,537
5,22,531
6,28,869
6,94,521
7,75,707
7,91,000
8,96,112
10,38,877
11,78,086
12,44,579
Fixed Assets
102
198
296
161
196
238
341
719
782
764
761
755
CWIP
2
47
105
129
199
288
336
53
22
39
88
144
Investments
528
2,230
3,145
5,493
4,604
4,404
3,499
3,774
5,973
10,971
12,792
15,549
Other Assets
2,28,280
2,44,745
2,55,990
5,16,749
6,23,871
6,89,590
7,71,530
7,86,454
8,89,334
10,27,102
11,64,445
12,28,131
Total Assets
2,28,912
2,47,220
2,59,537
5,22,531
6,28,869
6,94,521
7,75,707
7,91,000
8,96,112
10,38,877
11,78,086
12,44,579

Cash Flow

₹ Cr
PFC cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−21,455
−13,298
1,795
−57,148
−80,252
−42,148
−59,143
4,904
−74,699
−97,820
−92,270
−4,504
Investing
−491
−1,973
−667
1,409
−13,463
−73
1,741
−547
−1,694
−3,409
−2,212
−3,441
Financing
26,916
10,383
1,950
52,018
93,616
43,399
60,424
−8,371
75,518
1,01,261
94,159
9,265
Net Cash Flow
4,970
−4,888
3,079
−3,720
−98
1,179
3,023
−4,014
−874
32
−323
1,319
Free Cash Flow
−21,498
−13,456
1,614
−57,237
−80,351
−42,277
−59,234
4,604
−74,821
−98,143
−93,110
−4,841

Ratios

PFC financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
20%
18%
6%
17%
23%
15%
21%
21%
20%
21%
21%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Power Finance Corporation insights

53 extracted metrics across FY07–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 55.99%
  • FIIs 17.83%
  • DIIs 15.75%
  • Public 8.22%
  • Others 2.20%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Power Finance Corporation

What does Power Finance Corporation Ltd do?
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.
Where is Power Finance Corporation Ltd (PFC) listed?
Power Finance Corporation Ltd trades as PFC on the NSE and under code 532810 on the BSE.
Which sector does Power Finance Corporation Ltd belong to?
Power Finance Corporation Ltd is classified under the Financial Services sector, in the Financial Institution industry.
What is the PE ratio of Power Finance Corporation Ltd?
Power Finance Corporation Ltd trades at a PE ratio of 4.09 as of 4 Nov 2026, on earnings per share of ₹78.93, against a book value of ₹433.11 per share.
What is the 52-week high and low of Power Finance Corporation Ltd?
Over the last 52 weeks Power Finance Corporation Ltd has traded between ₹310.3 and ₹486.5 as of 4 Nov 2026.
Does Power Finance Corporation Ltd pay dividends?
Power Finance Corporation Ltd has a dividend yield of 1.23%.
What is the Return on Equity (ROE) of Power Finance Corporation Ltd?
Power Finance Corporation Ltd reported a return on equity of 20.70%. Its debt-to-equity ratio is 7.62.

Company Information

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.

Website pfcindia.com
CEO Ms. Parminder Chopra
Employees 540
Listed 23 Feb 2007
Face Value ₹10

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