Power Finance Corporation Ltd. share price target

Q3FY17 PAT at Rs 19.5 bn (up 23.3% YoY) was higher than our estimate primarily due to lower provisions (down 75% YoY on favourable base) and higher translation/actual exchange gain on forex borrowings. Asset quality improved with absolute GNPAs down by ~4% QoQ and GNPA ratio down by 14 bps QoQ at...

India is the 5th largest electricity generation and consumption country in the world. As per the U.S. Energy Information Administration, India accounts for around 4.6% of the world's electricity generation capacity and 3.9% of the world electricity consumption as of 2011. Power is considered to be a one of the core industry as it facilitates development across various sectors of the Indian economy. The per capita electricity consumption in India has witnessed a CAGR of 5.5% over FY06-13. The demand for the electricity has always outpaced the supply resulting in an average energy deficit of around 9% over the past 10 years. We believe this is mainly after rising per capita consumption and under achievement of the...

Asset quality healthy; gross NPLs at 1.04% poised to tap the government's thrust on the power sector. PFC is the nodal agency for UMPPs. The company offers...

Company snapshot: Power Finance Corporation Limited is engaged in power sector financing, and the integrated development of the power and associated sectors. The Company provides a range of financial products and...

susceptible to volatile earnings unlike other players in the financial space. Traction in balance sheet and earnings are amongst the standout qualities as compared to other players in the financials space. We rate the stock an OUTPERFORMER with a target price of Rs 252. Key risks...

in the global markets, PFC increased its exposure to low cost foreign Background: Power Finance Corporation Bank (PFC) has a market share of about 20% in the power lending industry. Backed by expertise in appraising projects and its status as a state-owned financing firm; the company is well poised to tap the government's thrust on the power sector. PFC is the nodal agency for UMPPs. The company offers the...

pile of sanctions with the outstanding sanctions book at 1.65X its loan book. The loan book stood at Rs 1,04,050 crore while the borrowings book was reported at Rs 86,500 crore. With adequate cash on its books Background: Power Finance Corporation Bank (PFC) has a market share of about 20% in the power lending industry. Backed by expertise in appraising projects and its status as a state-owned financing firm; the company...

recorded in the first three quarters. The lower growth (as compared to Background: Power Finance Corporation Bank (PFC) has a market share of about 20% in the power lending industry. Backed by expertise in appraising projects and its status as a state-owned financing firm; the company is well poised to tap the government's thrust on the power sector. PFC is the nodal agency for...

For the second quarter in a row, Power Finance Corporation (PFC) reported a strong earnings growth of about 90% Comparable profits growth adjusted for forex fluctuations and deferred tax items, however, was at 56%. Earnings before tax and extraordinary items also stood at 44%, amongst the highest in a series of six quarters. Bottom-line growth was driven by a 42% surge in topline. Net interest income (NII) maintained its growth path by registering a 32% growth as compared to an average of...