Power Finance Corporation Limited (PFC) — Corporate Action | 12 February 2025(2 announcements)

Power Finance Corporation reported Q3 FY25 revenue of ₹13,052.53 crores, up sharply from prior periods, with profit before tax at ₹5,079.30 crores, reflecting strong operational performance. The Board approved a third interim dividend of Rs 3.50 per share (35% of face value), payable by 11-Mar-2025, following a record date of 28-Feb-2025. Financials show robust margins, with net profit margin at 31.83% and operating margin at 38.87% for the quarter. Gross impaired assets stood at ₹13,976.26 crores, though coverage ratios remain stable. The limited review by PwC found no material misstatements, and the company maintains a security cover of 1.02 times for secured debt. Debt-to-equity is elevated at 4.78 times, but no defaults or audit qualifications were noted.

{ "summary": "Power Finance Corporation reported Q3 FY25 revenue of ₹13,052.53 crores, up sharply from prior periods, with profit before tax at ₹5,079.30 crores, reflecting strong operational performance. The Board approved a third interim dividend of Rs 3.50 per share (35% of face value), payable by 11-Mar-2025, following a record date of 28-Feb-2025. Financial results include total expenses of ₹7,973.23 crores (quarter) and ₹23,113.02 crores (nine months), with comprehensive disclosures on loan portfolios, asset quality, and capital structure as of December 31, 2024. The limited review by PwC confirms no material misstatements, though full audit is not provided. Impairment allowances on loans totaled ₹28,283.81 crores as of March 31, 2024, with gross impaired assets at 2.30% of total loans. The company maintains a debt-to-equity ratio of 4.78 and a net profit margin of 31.83%, underscoring its dominant position in power-sector lending.", "extractedFields": { "keyEvent": "Board approves third interim dividend of Rs 3.50 per share for FY 2024-25, payable by 11-Mar-2025", "whatChanged": 32.0, "forwardGuidance": null, "investorTakeaway": "Shareholders receive a timely dividend payout with no audit qualification, but rising leverage and asset impairments warrant monitoring of financial stability.", "dividend": { "amountPerShare": 3.5, "rateOfReturn": 35, "recordDate": "2025-02-28", "paymentDeadline": "2025-03-11", "faceValue": 10, "previousInterimDividend": 6.75 }, "financialResults": { "quarterRevenue": 13052.53, "nineMonthsRevenue": 38184.08, "quarterProfitBeforeTax": 5079.30, "nineMonthsProfitBeforeTax": 15071.06, "totalExpensesQuarter": 7973.23, "totalExpensesNineMonths": 23113.02, "totalIncomeQuarter": 13052.53, "totalIncomeNineMonths": 38184.08 }, "auditReport": { "auditorFirms": [ "Thakur Vaidyanath Aiyar & Co.", "Mehra Goel & Co." ], "reviewType": "Limited" }, "totalOutstandingLoans": { "value": 503823.71, "currency": "INR", "unit": "crore", "asOf": "31.12.2024", "previousPeriod": 481461.90 }, "grossImpairedAssets": { "value": 13976.26, "currency": "INR", "unit": "crore", "asOf": "31.12.2024", "previousPeriod": 15871.31 }, "netCreditImpairedAssetsRatio": { "value": 0.71, "unit": "percentage", "asOf": "31.12.2024" }, "debtToEquityRatio": { "value": 4.78, "unit": "times", "asOf": "31.12.2024" }, "securityCover": { "value": 1.02, "unit": "times", "asOf": "31.12.2024" }, "netProfitMargin": { "value": 31.83, "unit": "percentage", "asOf": "31.12.2024" }, "reviewFirm": "Mehra Goel & Co. Chartered Accountants", "reviewFirmRegistrationNumber": "00517N", "auditOpinionProvided": "No", "reviewScope": "Limited review under SEBI Regulation 33(8), not equivalent to full audit", "entitiesReviewed": [ "Power Finance Corporation Limited", "REC Limited", "PFC Consulting Limited" ], "entitiesUnreviewedButIncluded": [ "PFC Projects Limited", "PFC Infra Finance IFSC Limited", "Orissa Integrated Power Limited", "Coastal Tamil Nadu Power Limited", "Deoghar Infra Limited", "Bihar Infrapower Limited", "Sakhigopal Integrated Power Company Limited", "Ghogarpalli Integrated Power Company Limited", "Deoghar Mega Power Limited", "Cheyyur Infra Limited", "Odisha Infrapower Limited", "Bihar Mega Power Limited", "Jharkhand Infrapower Limited" ], "subsidiariesWithFullFinancialsReviewed": [ "REC Limited" ], "subsidiariesWithManagementReviewedOnly": [ "PFC Projects Limited", "PFC Infra Finance IFSC Limited", "Orissa Integrated Power Limited", "Coastal Tamil Nadu Power Limited", "Deoghar Infra Limited", "Bihar Infrapower Limited", "Sakhigopal Integrated Power Company Limited", "Ghogarpalli Integrated Power Company Limited", "Deoghar Mega Power Limited", "Cheyyur Infra Limited", "Odisha Infrapower Limited", "Bihar Mega Power Limited", "Jharkhand Infrapower Limited" ], "finalDividendPerShare": 3.5, "interimDividendPaid": 6.75, "fiscalYear": "2024-25", "impairmentLossAllowanceStage1_2_AsOf_31Mar2024": 6867.48, "impairmentLossAllowanceStage3_AsOf_31Mar2024": 21416.33, "totalImpairmentAllowance_AsOf_31Mar202