Power Finance Corporation

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• DebtHighest safetyRated AAA by ICRA.
• ResultsGrowingIn the Jun 2026 quarter, sales rose 0% and profit rose 0.2% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 56% of the company, about the same as in Jun 2025.
• ValuationNormal for this stockThe share trades at 4 times its yearly earnings (P/E), cheaper than 65% of the time in the last 5 years. Its usual P/E is about 6.

Power Finance Corporation against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)4 against a typical 13.8: cheaper than most peers (1st = cheapest).1st of 8
• Sales growth0% against a typical +14% from a year earlier.5th of 7
• Profit growth+0.2% against a typical +0.9% from a year earlier.5th of 7
• Share price, 3 months−25.9% against a typical −19.9%.8th of 8
• Size₹ 1,04,283.2 Cr. market value against a typical ₹ 11,402.4 Cr. (1st = largest).1st of 6

Exchange filings and their impact on the company.

• 19 Oct 2026Amalgamation/MergerLow impactPositivePrice −1.2% on 21 Oct
  BSE and NSE cleared the REC-into-PFC merger to move to NCLT; no near-term financial change.

  Power Finance Corporation said it received no-objection letters from BSE and NSE on October 19, 2026 for the proposed merger of REC Limited into PFC under Sections 230-232. The scheme was approved by both boards on June 28, 2026 and can now be filed with NCLT, but remains subject to RBI, shareholder, creditor and other approvals. As PFC already consolidates REC, there is no immediate change to business scale; the benefit is progress toward a unified entity with potential funding and cost synergies.

  Full analysisFiling
• 15 Oct 2026Amalgamation/MergerLow impactPositivePrice −2.6% on 16 Oct
  PFC got RBI's no-objection for merging REC into itself, moving the mega-merger one step closer with no immediate financial change.

  Power Finance Corporation said it received a no-objection certificate from the Reserve Bank of India on October 15, 2026 for its plan to merge REC Limited into itself. The merger was approved by both boards in June 2026 and remains subject to shareholder, creditor and other statutory approvals. There is no immediate change to business or finances as the scheme is not yet effective.

  Full analysisFiling
• 12 Oct 2026General UpdatesLow impactPositivePrice +1.2% on 13 Oct
  PFC sold three transmission SPVs for ~Rs 58.5 cr, a negligible routine gain.

  PFC said its arm PFC Consulting transferred three wholly owned transmission SPVs on 12 Oct 2026 - Jam Khambhaliya REZ Transmission and Lakadia C Power Transmission to Power Grid Corporation, and Lakadia A Power Transmission to AnantGrid Projects One. The sale fetched about Rs 19.22 cr, Rs 19.94 cr and Rs 19.32 cr respectively, totalling about Rs 58.5 cr. The company said the SPVs had negligible turnover and net worth, so the impact is a small routine fee-type income with no material effect on PFC's large loan book and earnings.

  Full analysisFiling
• 7 Oct 2026General UpdatesLow impactNeutralPrice +0.9% that day
  PFC sold its Satara transmission SPV to Adani Energy for Rs 19 cr, a negligible routine divestment.

  Power Finance Corporation said its arm PFC Consulting completed the transfer of its wholly owned subsidiary Satara Power Transmission Limited to Adani Energy Solutions on 6 October 2026. The SPV was set up for the Western Region network expansion scheme for pumped storage near Satara up to 4500 MW - Part A. PFC received Rs 19.01 crore under the share purchase agreement and said the unit's contribution to turnover and net worth was negligible.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Parminder Chopra

Chairman of the Board, Chief Executive Officer, Director - Finance, Managing Director

Manish Kumar Agarwal

Compliance Officer, Company Secretary

Rajiv Ranjan Jha

Director (Projects)

V. Packirisamy

Executive Director, Director (Commercial)

Rajeev Kumar Chaturvedi

Executive Director

Hemant Kumar Das

Executive Director

Deepak Jain

Executive Director

Gunaseelan Jawahar

Executive Director