Power Finance Corporation

PFC · NSE · Mega Cap

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Financing·Listed·Directness 50/100

Power Finance Corporation

Largest power-sector financier; renewable energy disbursement scaling rapidly.

Financing
Sell / Avoid
Last price
₹451.00
52W: ₹330 – ₹486
-7.2% from 52W high
Mkt Cap
₹1.49 L Cr
P/E
5.9x
EV/EBITDA
—
ROCE
9.7%
ROE
21.0%
Book Value
₹385.0
Promoter
56.0%
Real financial data sourced from Screener.in · annual + quarterly statements below

Scoring breakdown

SageOne-style fundamental · TQ-100 technical · solar overlays

B+
Fundamental (30%)
43
Valuation (20%)
78
Technical (20%)
74
Solar exposure (10%)
50
Policy beneficiary (7.5%)
78
Project pipeline (5%)
80
Governance safety (7.5%)
35

52-week position

Real snapshot from Screener

₹330Current: ₹451₹486
P/E
5.9x
P/B
1.2x
Div Yield
3.53%

Investment thesis

One-liner · bull · bear · monitorables

One-liner. Power Finance Corporation: renewable lending book compounds at 20%+ with widening NIMs in a green-financing tailwind.

Bull case

Bull case for Power Finance Corporation: continued capacity ramp at attractive unit economics, supportive policy (PLI / ALMM / RPO / open access), benign module + commodity cycle, healthy receivable conversion, and re-rating from current valuation as execution beats consensus.

Bear case

Bear case for Power Finance Corporation: module/tariff price crash, working-capital blowout from DISCOM receivables, leverage spiking past 4x net-debt/EBITDA, ALMM/PLI delays, Chinese dumping, and de-rating to historical median multiples on growth disappointment.

Key monitorables
  • 01Quarterly capacity commissioned vs guidance
  • 02Receivable days from DISCOMs and large customers
  • 03Net debt / EBITDA trajectory
  • 04Order book to revenue cover

Solar exposure

Directness · policy linkage · BOM

Primary segmentFinancing
Directness50/100
ALMM eligible—
PLI beneficiary—
Imported BOM—

Valuation snapshot

Multiple methods · solar-specific multiples

MethodValueHist %ile
P/E (TTM)5.9x—
Forward P/E——
EV/EBITDA——
EV/Sales10.5x—
P/B1.2x—
FCF Yield-63.6%—

Project pipeline

0 tracked projects

No tracked projects.

Financials

Source: Screener.in (consolidated) · ticker PFC · last updated 2026-05-11

Open on Screener.in
Market Cap
₹1.49 L Cr
Price
₹451.00
Stock P/E
5.9x
Book Value
₹385.0
ROCE
9.7%
ROE
21.0%
Div Yield
3.53%
52W Range
₹330 – ₹486

Ratio analysis (derived from statements)

Growth · profitability · returns · leverage · cash flow · valuation

Growth
Sales 1Y17.0%
Sales 3Y CAGR12.0%
Sales 5Y CAGR10.6%
PAT 1Y15.3%
PAT 3Y CAGR17.6%
PAT 5Y CAGR18.0%
Profitability
OPM latest—
PAT margin latest28.5%
PAT margin 3Y avg28.2%
ROE21.0%
ROCE9.7%
Asset turnover0.09x
Leverage & cash
D / E8.25x
Net Debt / EBITDA—
Borrowings / Assets82.5%
CFO / EBITDA—
CFO / PAT-3.02x
FCF (TTM proxy)₹-94.58K Cr
Valuation
P/E5.9x
EV/EBITDA—
EV/Sales10.46x
P/B1.17x
FCF Yield-63.56%
Div Yield3.53%

Annual P&L · 5 years

₹ Crore. Source: Screener.in consolidated.

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Sales71,65676,26277,80791,5081,07,106
Operating Profit—————
OPM %—————
Net Profit15,71618,76821,17926,46130,514
EPS (₹)35.6042.4748.1559.8869.67

Quarterly results · last 4 quarters

₹ Crore.

MetricDec 2024Mar 2025Jun 2025Sep 2025
Sales28,89029,09529,26528,539
OPM %————
Net Profit7,8348,2128,3588,981

Balance sheet · 5 years

₹ Crore.

ItemMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital2,6402,6402,6403,3003,300
Reserves58,12769,03681,51897,8471,14,438
Borrowings6,59,6826,60,4767,51,1588,61,9619,71,758
Fixed Assets—————
Total Assets7,75,7077,91,0008,96,11210,38,87711,78,086

Cash flow · 5 years

₹ Crore.

ActivityMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating-59,1434,904-74,717-97,820-92,269
Investing1,741-547-1,694-3,409-2,312
Financing60,424-8,37175,5371,01,26194,258
Net Cash Flow3,022-4,014-87432-323

Shareholding pattern

Latest disclosed

Promoters
55.99%
FII
19.64%
DII
15.05%
Public
9.32%

Policy linkages

Schemes where this company is a confirmed or likely beneficiary

No direct policy linkages tracked.