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PFC - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.7

Last Updated Time : 19 Mar 26, 07:11 pm

Fundamental Rating: 3.7

Stock Code PFC Market Cap 1,42,633 Cr. Current Price 432 ₹ High / Low 444 ₹
Stock P/E 7.57 Book Value 296 ₹ Dividend Yield 3.66 % ROCE 9.74 %
ROE 20.4 % Face Value 10.0 ₹ DMA 50 400 ₹ DMA 200 396 ₹
Chg in FII Hold -0.51 % Chg in DII Hold -0.56 % PAT Qtr 4,763 Cr. PAT Prev Qtr 4,462 Cr.
RSI 61.1 MACD 4.95 Volume 1,56,13,510 Avg Vol 1Wk 1,03,27,987
Low price 330 ₹ High price 444 ₹ PEG Ratio 0.38 Debt to equity 4.97
52w Index 89.4 % Qtr Profit Var 14.6 % EPS 57.1 ₹ Industry PE 18.0

📊 Core Financials

  • Revenue Growth: Quarterly PAT improved from ₹4,462 Cr to ₹4,763 Cr (+14.6%).
  • Profit Margins: Stable margins supported by lending operations.
  • Debt Ratios: Debt-to-equity at 4.97 → highly leveraged, typical for NBFC/PSU lenders.
  • Cash Flows: Strong cash generation from lending activities.
  • Return Metrics: ROE at 20.4% is strong; ROCE at 9.74% moderate due to high debt load.

💹 Valuation Indicators

  • P/E Ratio: 7.57 vs Industry PE of 18.0 → undervalued.
  • P/B Ratio: ~1.46 (Price ₹432 / Book Value ₹296) → reasonable.
  • PEG Ratio: 0.38 → attractive, suggesting growth at a discount.
  • Intrinsic Value: Current price near fair value, with upside potential.

🏢 Business Model & Competitive Advantage

  • Power Finance Corporation (PFC) is a leading PSU NBFC financing power sector projects.
  • Competitive advantage lies in government backing, scale, and sector dominance.
  • Strong dividend yield (3.66%) adds to investor appeal.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive between ₹400 – ₹420 (near DMA50 & DMA200 support).
  • Long-Term Holding: Suitable for long-term investors seeking stable dividends and exposure to India’s power sector growth.

✅ Positive

  • Low P/E compared to industry.
  • Strong ROE (20.4%).
  • High dividend yield (3.66%).
  • Consistent profit growth.

⚠️ Limitation

  • High debt-to-equity ratio (4.97).
  • ROCE relatively modest at 9.74%.
  • Dependence on power sector policies and reforms.

📉 Company Negative News

  • Decline in FII (-0.51%) and DII (-0.56%) holdings.
  • High leverage raises risk in volatile interest rate environments.

📈 Company Positive News

  • Quarterly PAT growth of 14.6%.
  • Strong dividend payout policy.
  • Stable government-backed operations ensure reliability.

🏭 Industry

  • Power sector financing remains crucial for India’s infrastructure growth.
  • Industry PE at 18.0, highlighting PFC’s undervaluation.

🔎 Conclusion

PFC offers strong fundamentals with attractive valuations and high dividend yield. While leverage is high, government backing and consistent profitability make it a reliable long-term investment. Investors can accumulate near support levels for steady returns and exposure to India’s power sector expansion.

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