Power Finance Corporation | Business Upturn

Power Finance Corporation establishes two new subsidiaries for transmission projects

Kinjal — Fri, 08 May 2026 10:54:47 +0000

Power Finance Corporation (PFC) has announced the incorporation of two wholly owned subsidiaries under PFC Consulting Limited (PFCCL), a wholly owned subsidiary of PFC. The new entities, Western Ghats PSP Transmission Limited and Hingoli West Power Transmission Limited, have been established to facilitate the development of Independent Transmission Projects (ITPs) in Maharashtra.

Western Ghats PSP Transmission Limited will focus on the establishment of a 400 kV GIS Igatpuri/Murbad Switching Station in Thane district. Meanwhile, Hingoli West Power Transmission Limited is tasked with setting up a 400 kV AIS Hingoli West in Hingoli district.

PFCCL has been appointed as the Bid Process Coordinator (BPC) by the Ministry of Power, Government of India, for selecting developers through tariff-based competitive bidding for these transmission projects. The BPC’s responsibilities include preparing project profiles, initiating land acquisition, and obtaining necessary forest clearances.

The newly incorporated Special Purpose Vehicles (SPVs) will carry out preparatory activities such as conducting surveys, preparing reports, and initiating land acquisition processes. These SPVs are intended to be transferred to the successful bidders selected through the International Competitive Bidding Process.

The Government of Maharashtra, through its Government Resolution dated 27 February 2026, has confirmed the appointment of PFCCL as the BPC for these projects, following a decision by the Empowered Committee in its meeting held on 12 January 2026.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation establishes Pune West Power Transmission as a subsidiary

Yash Agarwal — Fri, 08 May 2026 07:00:00 +0000

Power Finance Corporation Limited (PFC) has announced the incorporation of a new wholly owned subsidiary, Pune West Power Transmission Limited, under its subsidiary PFC Consulting Limited (PFCCL). This move is part of PFC’s strategy to establish a 765 kV GIS in Pune District, Maharashtra.

PFC Consulting Limited, which is a wholly owned subsidiary of PFC, has been appointed as the Bid Process Coordinator (BPC) by the Ministry of Power, Government of India. The role of the BPC is to select a developer for Independent Transmission Projects (ITPs) through a tariff-based competitive bidding process.

According to the guidelines issued by the Ministry of Power, the BPC is responsible for preparing the project profile and initiating necessary processes such as land acquisition and forest clearance. To facilitate these activities, the incorporation of a Special Purpose Vehicle (SPV) is required. Pune West Power Transmission Limited will undertake various preparatory activities for the transmission projects, including surveys, report preparation, land acquisition, and forest clearance processes.

The SPV is expected to be transferred to the successful bidder selected through the International Competitive Bidding Process, as per the Tariff Based Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power.

The Government of Maharashtra, through its Government Resolution dated 27 February 2026, has notified that the Empowered Committee appointed PFC Consulting Limited as the Bid Process Coordinator for selecting a Transmission Service Provider (TSP). This is aimed at establishing an intra-state transmission system for the 765 kV GIS Pune West project through the Tariff Based Competitive Bidding process.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation establishes new subsidiary for transmission project

Business Desk — Thu, 07 May 2026 09:21:01 +0000

Power Finance Corporation (PFC) has announced the incorporation of a new wholly owned subsidiary under its arm, PFC Consulting Limited (PFCCL). The subsidiary, named Fatehgarh II Transmission Limited, has been established as a Special Purpose Vehicle (SPV) for the installation of two Synchronous Condensers (SynCon) units at the 765/400/220 kV Fatehgarh-II Power Station.

The creation of this SPV is part of PFC’s role as the ‘Bid Process Coordinator’ (BPC) for Independent Transmission Projects (ITPs), as designated by the Ministry of Power, Government of India. The BPC is responsible for selecting developers through a tariff-based competitive bidding process, which involves preparing project profiles and initiating necessary land acquisition and forest clearance processes.

The incorporation of Fatehgarh II Transmission Limited is a strategic move to facilitate various preparatory activities for the transmission projects. These activities include conducting surveys, preparing reports, and initiating land acquisition and forest clearance processes if required. The SPV will eventually be transferred to the successful bidder selected through the International Competitive Bidding Process under the Tariff Based Competitive Bidding Guidelines for Transmission Service.

The Central Electricity Authority (CEA), under the Ministry of Power, had earlier recommended PFCCL as the BPC for the installation of the SynCon units at Fatehgarh-II. This recommendation was made during the 33rd meeting of the National Committee on Transmission held on 16 September 2025, and was subsequently formalised through a notification in the Official Gazette on 30 October 2025.

The establishment of Fatehgarh II Transmission Limited marks a significant step in the development of the transmission scheme, which is expected to enhance the efficiency and stability of the power grid in the region. The successful bidder, once selected, will take over the project development from the SPV.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

NBCC secures Rs 103.47 crore work orders from Power Finance Corporation

Yash Agarwal — Thu, 07 May 2026 05:35:05 +0000

NBCC (India) has been appointed by Power Finance Corporation Limited (PFC) as the Project Management Agency for various CSR projects across different states. The total value of the CSR works awarded to NBCC amounts to approximately ₹103.47 crore, excluding GST. This appointment is part of NBCC’s regular business operations.

The details of these work orders have been made available on the company’s official website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation establishes five new subsidiaries for transmission projects

Kinjal — Thu, 30 Apr 2026 13:32:20 +0000

Power Finance Corporation (PFC) has announced the incorporation of five wholly owned subsidiaries under its subsidiary, PFC Consulting Limited, to facilitate the development of Independent Transmission Projects (ITPs). These new entities are JAM KHAMBHALIYA REZ Transmission Limited, LAKADIA A Power Transmission Limited, LAKADIA C Power Transmission Limited, ANANTHPURAM Transmission Limited, and KRISHNAGIRI REZ Transmission Limited.

The Ministry of Power has nominated PFC Consulting Limited as the Bid Process Coordinator (BPC) for selecting developers through tariff-based competitive bidding for these projects. The new subsidiaries will serve as Special Purpose Vehicles (SPVs) to manage various preparatory activities, including land acquisition and forest clearance, if necessary.

Each SPV is tasked with the development of specific transmission systems. JAM KHAMBHALIYA REZ Transmission Limited will focus on integrating power from renewable energy projects in Jam Khambhaliya, Gujarat. LAKADIA A and LAKADIA C Power Transmission Limited will handle the common transmission systems for power evacuation from Lakadia, Jam Khambhaliya, and Jamnagar phases. ANANTHPURAM Transmission Limited will manage the integration of the Ananthpuram-III PS REZ Phase-I, while KRISHNAGIRI REZ Transmission Limited will focus on the integration of the Krishnagiri REZ Phase-I.

The Central Electricity Authority and the National Committee on Transmission have recommended these projects, which have been notified under the Tariff Based Competitive Bidding (TBCB) mode by the Ministry of Power. Once the bidding process is complete, the SPVs will be transferred to the successful bidder, who will then develop the projects.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation appoints Manish Kumar Agarwal as new official

Yash Agarwal — Thu, 30 Apr 2026 13:20:14 +0000

Power Finance Corporation has announced an appointment, according to a regulatory filing submitted to the National Stock Exchange of India.

Manish Kumar Agarwal has been designated in an official capacity at the organisation, effective 30 April 2026, the filing confirms. The appointment was digitally signed and authenticated through the NSE filing system.

The move represents a key personnel development at Power Finance Corporation, one of India’s leading non-banking financial institutions specialising in lending to the power sector. The organisation provides project finance, corporate loans, and other financial products to power utilities, independent power producers, and other entities within the energy infrastructure ecosystem.

No further details regarding the specific designation, responsibilities, or department assignment have been disclosed in the filing. The announcement marks an administrative update to the company’s leadership structure during the financial year 2025–26.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation appoints Rajesh Kumar Agarwal as Director (Finance) and CFO

Business Desk — Thu, 30 Apr 2026 10:53:36 +0000

Power Finance Corporation (PFC) has announced the appointment of Shri Rajesh Kumar Agarwal as Director (Finance) on its Board and as Chief Financial Officer (CFO). The appointment is effective from 23rd April 2026, following an order from the Ministry of Power, Government of India.

The decision was confirmed during a Board of Directors meeting held on 30th April 2026. This appointment comes in continuation of a previous letter dated 23rd April 2026, which informed stakeholders of Agarwal’s assumption of charge as Director (Finance).

Rajesh Kumar Agarwal’s appointment to these key positions is expected to bolster the financial leadership within the organisation, aligning with the strategic goals set forth by the Ministry of Power.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation appoints Rajesh Kumar Agarwal as Director (Finance)

Kinjal — Thu, 23 Apr 2026 12:48:49 +0000

Power Finance Corporation has announced the appointment of Shri Rajesh Kumar Agarwal as Director (Finance) on its Board. Agarwal, who holds a distinguished career in the power and financial sectors, assumed his new role on 23 April 2026.

The appointment follows a communication from the Ministry of Power, Government of India, which authorised his position for a period of five years or until further orders, whichever is earlier. Agarwal’s extensive experience includes a tenure as Executive Director (Finance) at PFC since January 2024, and a career at the corporation since 2009, where he managed various cross-functional teams.

Agarwal’s professional journey is marked by significant contributions in areas such as Corporate Accounts, Taxation, Fund Management & Banking, Lending Policy Compliance, Restructured Assets Management, Fund Raisings, and Loan Disbursement. He has also been pivotal in driving digital reforms and enhancing financial reporting standards. Before joining PFC, Agarwal gained valuable experience in other power sector companies like NTPC, NPCIL, and DTL, focusing on core finance functions and key areas like Tariff Matters and PPA Negotiations.

In addition to his professional achievements, Agarwal is recognised as a distinguished speaker at various professional forums. He holds a Bachelor’s degree in Commerce (Honours) and is a member of the Institute of Cost Accountants of India.

The company confirmed that there are no relationships between directors and that Agarwal is not debarred from holding the office of Director by any SEBI Order or other authority.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation announces cessation of two independent directors

Kinjal — Fri, 17 Apr 2026 10:02:58 +0000

Power Finance Corporation (PFC) has announced the cessation of two Non-Official Independent Directors from its board. Smt. Usha Sajeev Nair and Shri Prasanna Tantri have completed their tenure as directors, effective 17 April 2026.

Smt. Usha Sajeev Nair was appointed to the board of PFC as a Non-Official Independent Director on 17 April 2025, following an order from the Ministry of Power, Government of India. Her term was set for one year, concluding on 16 April 2026. Consequently, she has ceased to be a director on the board effective 17 April 2026.

Similarly, Shri Prasanna Tantri was also appointed as a Non-Official Independent Director on the same date, 17 April 2025, with the same tenure duration. His tenure ended on 16 April 2026, and he has also ceased to be a director on the board from 17 April 2026.

The cessation of these directors marks the end of their one-year tenure as per the appointments made by the Ministry of Power.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation establishes four new subsidiaries for transmission projects

Kinjal — Tue, 14 Apr 2026 15:20:27 +0000

Power Finance Corporation Limited (PFC) has announced the incorporation of four wholly owned subsidiaries under its subsidiary, PFC Consulting Limited (PFCCL). These subsidiaries are established as Special Purpose Vehicle (SPV) companies to facilitate the development of Independent Transmission Projects (ITPs) through tariff-based competitive bidding.

The newly formed subsidiaries are Babai Transmission Limited, Bikaner Transmission Limited, Humnabad Power Transmission Limited, and Hebbani Power Transmission Limited. Each of these SPVs is tasked with specific transmission systems in different regions. Babai Transmission Limited will focus on the 765kV GSS Babai transmission system, while Bikaner Transmission Limited will handle the 765kV GSS Bikaner (Pugal) transmission system. Humnabad Power Transmission Limited and Hebbani Power Transmission Limited are responsible for the 400kV transmission systems in Bidar and Mandya districts, respectively.

The establishment of these SPVs follows the recommendations and approvals from respective state committees and government departments. For instance, the Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL) and the Government of Rajasthan have approved PFCCL as the Bid Process Coordinator (BPC) for the Babai and Bikaner transmission systems. Similarly, the Karnataka Power Transmission Corporation Limited (KPTCL) and the Government of Karnataka have nominated PFCCL for the Humnabad and Hebbani projects.

As per the guidelines issued by the Ministry of Power, the BPC is responsible for preparing the project profile and initiating processes such as land acquisition and forest clearance, if necessary. The SPVs will undertake these preparatory activities, including surveys and report preparation. Once the bidding process is completed, the SPVs will be transferred to the successful bidder, who will then develop the project.

This strategic move is part of PFC’s broader initiative to streamline the development of transmission infrastructure across India, leveraging competitive bidding to ensure efficiency and cost-effectiveness.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation announces resignation of independent director Bhaskar Bhattacharya

Kinjal — Tue, 07 Apr 2026 07:23:35 +0000

Power Finance Corporation (PFC) has announced the resignation of Bhaskar Bhattacharya, who served as an Independent Director on its Board. The resignation was communicated in a filing to the National Stock Exchange of India (NSE), dated 7th April 2026. Bhattacharya’s departure from the board was initially notified by PFC on 2nd April 2026.

The company clarified that Bhattacharya, who held the Director Identification Number (DIN) 09406292, did not hold any directorships in other listed entities at the time of his resignation. This information was provided as part of the declaration furnished by Bhattacharya himself.

Power Finance Corporation, a government of India undertaking, has been ISO 9001:2015 certified, reflecting its commitment to quality management standards. The company, headquartered in New Delhi, is a leading player in the power sector, providing financial assistance to power projects across the country.

The resignation of Bhattacharya marks a change in the composition of PFC’s Board of Directors, which is responsible for overseeing the strategic direction and governance of the corporation.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation director Bhaskar Bhattacharya resigns over potential conflict

Arunika Jain — Thu, 02 Apr 2026 06:48:40 +0000

Power Finance Corporation (PFC) has announced the resignation of Shri Bhaskar Bhattacharya from his position as an Independent Director on the company’s Board. Bhattacharya, who held the Director Identification Number (DIN) 09406292, tendered his resignation via email on 1 April 2026.

The resignation comes as Bhattacharya intends to contest in the upcoming West Bengal Assembly election. To avoid any potential conflict of interest, he has decided to step down from his role at PFC. In his resignation communication, Bhattacharya confirmed that his decision to resign was solely based on his political aspirations and that there were no other reasons for his departure.

Bhattacharya had been appointed as a part-time Non-Official Director on the Board of PFC for a period of one year, as per the Ministry of Power’s order dated 13 May 2025. His tenure was set to continue either until further orders or until the completion of one year from the date of notification of his re-appointment.

This development was communicated in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has submitted this information for the records of the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation announces superannuation of directors Manoj Sharma and Sandeep Kumar

Yash Agarwal — Wed, 01 Apr 2026 07:38:29 +0000

Power Finance Corporation (PFC) has announced the superannuation of two of its directors, Manoj Sharma and Sandeep Kumar, effective 1 April 2026. This change comes as part of the company’s regular board transitions.

Manoj Sharma, who served as the Director (Commercial) on the board of PFC, was appointed pursuant to an order from the Ministry of Power, Government of India. His tenure was set from the date he assumed charge until his superannuation date, 31 March 2026, or until further orders. Having reached the age of superannuation, Sharma has now ceased to be a director at PFC.

Similarly, Sandeep Kumar, who held the position of Director (Finance) on the board, was appointed under a similar order from the Ministry of Power. His term was also set from the date of assumption until his superannuation on 31 March 2026. Kumar, too, has stepped down from his role following the completion of his tenure.

These changes are in line with the company’s compliance with regulatory requirements and its commitment to maintaining a dynamic and effective board structure.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation completes Rs 12.53 crore sale of subsidiary to Adani Energy Solutions

Arunika Jain — Mon, 30 Mar 2026 12:19:53 +0000

Power Finance Corporation Limited (PFC) has announced the transfer of its wholly-owned subsidiary, South Kalamb Power Transmission Limited, to Adani Energy Solutions Limited. The transaction, completed on 30th March 2026, was valued at ₹12,53,27,500 as per the Share Purchase Agreement.

South Kalamb Power Transmission Limited was established for the development of the ‘Network Expansion Scheme for drawal of power at South Kalamb S/s: Part A’. The unit contributed negligibly to PFC’s turnover, revenue, income, and net worth during the last financial year.

The successful bidder, Adani Energy Solutions Limited, does not belong to the promoter or promoter group of Power Finance Corporation. The transaction is not classified as a related party transaction and was conducted at arm’s length.

Furthermore, the sale and transfer of the subsidiary do not constitute a slump sale. The consideration for the sale and transfer of the Special Purpose Vehicles (SPVs) was determined in accordance with guidelines issued by the Ministry of Power, Government of India.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation sells Wagdari Transmission for Rs 4.41 crore

Yash Agarwal — Fri, 27 Mar 2026 12:47:44 +0000

Power Finance Corporation Limited has successfully transferred its wholly owned subsidiary, Wagdari Transmission Limited, to KCC Buildcon Private Limited. The transaction, completed on 27th March 2026, was valued at ₹4,41,10,826, as per the Share Purchase Agreement.

Wagdari Transmission Limited was established for the development of the ‘Transmission Scheme for Establishment of 400/220 kV AIS Wagdari (Dist, Solapur)’. Despite its strategic purpose, the subsidiary contributed negligibly to the turnover, revenue, or income of the listed entity during the last financial year.

KCC Buildcon Private Limited emerged as the successful bidder for the acquisition. It is important to note that KCC Buildcon does not belong to the promoter or promoter group of Power Finance Corporation Limited.

The transaction does not fall within the purview of related party transactions and was conducted at arm’s length. Additionally, it is not considered a slump sale. The consideration for the sale and transfer of the subsidiary was determined in accordance with guidelines issued by the Ministry of Power, Government of India.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation subsidiary GIPCL dissolved following project closure

Business Desk — Tue, 17 Mar 2026 05:03:58 +0000

Power Finance Corporation (PFC) has announced the dissolution of its wholly owned subsidiary, Ghogarpalli Integrated Power Company Limited (GIPCL), effective 16 March 2026. The subsidiary was struck off by the registrar of companies under section 248 of the Companies Act 2013.

GIPCL, incorporated on 22 May 2008, was established as a Special Purpose Vehicle for developing a 4000 MW Ultra Mega Power Project in Odisha. However, the project was subsequently closed, leading to the decision to dissolve the company. The Ministry of Power, Government of India, approved the closure and striking off of GIPCL on 27 November 2025, and the necessary documents were filed with the Ministry of Corporate Affairs, culminating in the official dissolution.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation completes Rs 8.04 crore sale of subsidiary to Power Grid Corporation

Business Desk — Fri, 13 Mar 2026 07:21:11 +0000

Power Finance Corporation Limited has successfully transferred its wholly owned subsidiary, NES Pune East New Transmission Limited, to Power Grid Corporation of India Limited for a consideration of ₹8,04,74,138. The transaction was finalised on 12th March 2026.

NES Pune East New Transmission Limited was established for the development of the ‘Network Expansion Scheme in Maharashtra for removal of Transmission Constraints in Pune Region-I (765/400 Kv Pune East)’. The turnover or revenue contributed by this subsidiary was negligible during the last financial year.

The sale agreement was completed as per the Share Purchase Agreement, and the transaction does not fall within the purview of related party transactions. Additionally, it is not considered a slump sale. The sale and transfer were conducted in accordance with the guidelines issued by the Ministry of Power, Government of India.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation completes Rs 3.61 crore sale of subsidiary to Montecarlo

Business Desk — Thu, 12 Mar 2026 10:59:26 +0000

Power Finance Corporation Limited has completed the sale of its wholly-owned subsidiary, NES Dharashiv Transmission Limited, to Montecarlo Limited for a consideration of ₹3,61,11,559. The transaction was finalised on 12th March 2026.

NES Dharashiv Transmission Limited was established for the development of the Network Expansion Scheme in Maharashtra for the evacuation of renewable energy power from Dharashiv in Beed District. The subsidiary’s contribution to the turnover, revenue, or income and net worth of Power Finance Corporation during the last financial year was negligible.

Montecarlo Limited, the successful bidder, does not belong to the promoter or promoter group of Power Finance Corporation. The transaction does not fall within the purview of related party transactions and is not considered a slump sale. The sale and transfer were conducted in accordance with guidelines issued by the Ministry of Power, Government of India.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation subsidiary SIPCL dissolved as of 9 March 2026

Business Desk — Thu, 12 Mar 2026 06:20:01 +0000

Power Finance Corporation (PFC) has announced the dissolution of its wholly owned subsidiary, Sakhigopal Integrated Power Company Limited (SIPCL), effective from 9 March 2026. The decision follows the approval from the Ministry of Power and subsequent filing with the Ministry of Corporate Affairs.

SIPCL, which was not considered a material subsidiary of PFC, was originally incorporated on 21 May 2008 as a Special Purpose Vehicle to establish a 4000 MW Ultra Mega Power Project in Odisha. However, the project was eventually shelved, leading to the decision to strike off the subsidiary.

The Ministry of Power granted approval for the closure of SIPCL on 27 November 2025, and the necessary documentation was filed shortly thereafter. The registrar of companies officially struck off SIPCL under section 248 of the Companies Act 2013.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Power Finance Corporation incorporates new SPV for Pune East transmission expansion project

Aditya Bhagchandani — Sun, 30 Mar 2025 05:47:50 +0000

Power Finance Corporation Limited (PFC), through its wholly owned subsidiary PFC Consulting Limited (PFCCL), has incorporated a new Special Purpose Vehicle (SPV) named NES Pune East New Transmission Limited for developing a key transmission infrastructure project in Maharashtra.

The newly formed SPV will execute the “Network Expansion Scheme in Maharashtra for removal of transmission constraints in Pune Region-I (765/400 kV Pune East)”. The incorporation is part of PFC’s role as the Bid Process Coordinator (BPC), as appointed by Maharashtra State Electricity Transmission Company Limited (MSETCL) via a Letter of Intent dated January 17, 2025.

As per the Tariff Based Competitive Bidding (TBCB) guidelines issued by the Ministry of Power, the SPV will carry out preparatory activities including survey work, project profiling, and initiation of processes related to land acquisition and forest clearance.

Eventually, this SPV will be transferred to the successful bidder selected through international competitive bidding to undertake the actual implementation of the transmission project.

This development reinforces PFC’s ongoing efforts to streamline large-scale power infrastructure projects and address critical transmission bottlenecks in high-demand regions like Pune.

Disclaimer: The information provided in this article is based on official filings made by the company to stock exchanges. It is intended solely for informational purposes and should not be construed as financial or investment advice. Stock market investments are subject to market risks. Always consult a qualified financial advisor before making any investment decisions.

Maithan Alloys acquires shareholding in Power Finance Corporation worth Rs 3.09 crore

Aditya Bhagchandani — Wed, 19 Feb 2025 07:37:46 +0000

Maithan Alloys Limited, a prominent player in the ferro alloys sector, has announced the acquisition of a 0.002% stake in Power Finance Corporation Ltd. (PFC), one of the leading public sector financial institutions in India. The acquisition involves the purchase of 83,000 equity shares of PFC, totaling an investment of ₹3.09 crore.

The purchase was made through the stock exchange on February 18, 2025, and marks a strategic move by Maithan Alloys to diversify its investment portfolio. The company’s entry into the power and infrastructure finance sector aligns with its broader objective to explore long-term and short-term investment opportunities in established and growing sectors.

Power Finance Corporation Ltd. is a state-owned financial institution that plays a significant role in financing power sector projects across India. It is a leading provider of financial services for power generation, transmission, and distribution projects. PFC has a market share of over 200% in the infrastructure finance sector, focusing particularly on the energy and power industry, which has a central role in India’s economic development.

The acquisition by Maithan Alloys is expected to enhance its portfolio in the power and energy space. However, Maithan has made it clear that the acquisition is purely an investment decision, and it does not intend to gain control over Power Finance Corporation’s management or operations.

This move reflects the company’s approach to expanding its investment footprint and capitalizing on India’s growing infrastructure and energy sectors, which are poised to see significant growth due to ongoing reforms and government initiatives aimed at boosting power generation and energy accessibility.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research or consult a financial advisor before making investment decisions.

Power Finance Corporation (PFC) Q3 Results: Loan growth at 10%, below FY25 guidance of 14%

Aditya Bhagchandani — Wed, 12 Feb 2025 07:50:13 +0000

Power Finance Corporation (PFC) reported a 10% year-on-year loan growth in Q3 FY25, falling short of its 14% guidance for the full fiscal year. Despite the moderation in loan growth, the company’s financial performance remained steady.

Dividend Announcement

PFC declared a third interim dividend of ₹3.50 per equity share (₹10 face value) for FY 2024-25. The dividend is subject to 35% TDS deduction.

Record Date: February 28, 2025
Payment Date: On or before March 11, 2025

Key Q3 Financial Highlights (YoY)

Revenue from Operations: ₹26,798 crore, up from ₹23,571 crore
Net Profit: ₹7,759 crore vs ₹6,294 crore, reflecting strong earnings growth
Total Income: ₹26,821 crore vs ₹23,593 crore
Loan Growth: 10% YoY, compared to the company’s FY25 guidance of 14%

The company attributed the growth to steady demand in the power sector and infrastructure financing. However, the shortfall in loan growth indicates slower-than-expected disbursements in the ongoing fiscal year.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Power Finance Corporation market cap declines by Rs 8,149 crore – Know More

Aditya Bhagchandani — Thu, 21 Nov 2024 05:50:12 +0000

Power Finance Corporation (PFC) faced a steep decline in its stock price today, closing 5.24% lower at Rs 446.70. This drop led to an estimated market capitalization loss of Rs 8,149 crore, reducing the total market cap to Rs 1,47,415.55 crore.

Key Trading Highlights:

Previous Close: Rs 471.40
Closing Price: Rs 446.70
Market Cap Loss: Rs 8,149 crore
Current Market Cap: Rs 1,47,415.55 crore

Price and Volume Details:

Opening Price: Rs 470.95
Intraday High: Rs 470.95
Intraday Low: Rs 432.80
Volume Traded: 172.99 lakh shares
Turnover: Rs 769.22 crore

52-Week Performance:

52-Week High: Rs 580.00 (July 12, 2024)
52-Week Low: Rs 309.55 (November 28, 2023)

The decline reflects broader market sentiment and sector-specific concerns impacting financial institutions like PFC.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or platform is not liable for any losses arising from the use of this information.

Power Finance Corporation Incorporates Subsidiary for Mahan Energen Transmission Project

Markets Desk — Wed, 20 Nov 2024 06:55:23 +0000

Power Finance Corporation Limited (PFC) has announced the incorporation of MEL Power Transmission Limited, a wholly-owned subsidiary of PFC Consulting Limited (PFCCL), which is itself a wholly-owned subsidiary of PFC. This new entity has been established to develop the “Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh.”

The Ministry of Power, through Gazette Notification No. CG-DL-E-22082024-256561 dated August 21, 2024, appointed PFCCL as the Bid Process Coordinator (BPC) for selecting a Transmission Service Provider (TSP) to implement this transmission system via a Tariff-Based Competitive Bidding Process.

In line with the guidelines issued by the Ministry of Power, the BPC is responsible for preparing the project profile and initiating processes such as land acquisition and forest clearance. To facilitate these preparatory activities, the incorporation of a Special Purpose Vehicle (SPV) is required. MEL Power Transmission Limited will undertake tasks including surveys, report preparation, and the initiation of land acquisition and forest clearance procedures.

Upon completion of the bidding process, the SPV will be transferred to the successful bidder selected through the International Competitive Bidding Process under the Tariff-Based Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power. The successful bidder will then be responsible for developing the project.

This strategic move underscores PFC’s commitment to enhancing India’s power infrastructure and ensuring efficient power evacuation from key generating stations.

Power Finance Corporation transfers Pune-III Transmission Limited to Adani Energy Solutions

Matrika Shukla — Tue, 19 Nov 2024 12:48:14 +0000

Power Finance Corporation Limited (PFC) announced the transfer of Pune-III Transmission Limited, a wholly owned subsidiary of PFC Consulting Limited, to Adani Energy Solutions Limited. This move comes after the completion of the sale and transfer process on November 19, 2024.

Pune-III Transmission Limited was established for the development of the “Transmission System for Evacuation of Power from Potential Renewable Energy Zone in Khavda Area of Gujarat under Phase-IV (7GW): Part D.” The transaction was finalized with a consideration of ₹18,78,79,037 as per the Share Purchase Agreement.

It is important to note that Adani Energy Solutions Limited, the successful bidder, does not belong to the promoter or promoter group of Power Finance Corporation. The transaction is expected to have a negligible impact on the financial performance of the listed entity.

This strategic transfer aligns with PFC’s ongoing efforts to optimize its subsidiary portfolio while supporting the growth of renewable energy infrastructure in India.

Power Finance Corporation’s market cap surges by Rs 5,915 crore: Know More

Aditya Bhagchandani — Tue, 19 Nov 2024 05:05:51 +0000

Shares of Power Finance Corporation (PFC) registered a significant gain today, rising 3.89% to Rs 477.05, up from its previous close of Rs 459.20. This surge in share price added approximately Rs 5,915 crore to the company’s market capitalization, bringing the total market cap to Rs 1,57,431.35 crore.

Key Trading Details:

Traded Volume: 57.79 lakh shares
Traded Value: Rs 272.96 crore
Deliverable Quantity/Traded Quantity: 38.35%

Price Highlights:

Day’s High/Low: Rs 478.70 / Rs 467.05
52-Week High: Rs 580.00 (12-Jul-2024)
52-Week Low: Rs 309.55 (28-Nov-2023)

Power Finance Corporation, a prominent player in the financial services sector, continues to attract investor interest with its steady performance, further boosting its market value.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Power Finance Corporation’s market cap rises by Rs 3,360 crore: Know More

Aditya Bhagchandani — Mon, 18 Nov 2024 07:45:23 +0000

Power Finance Corporation Limited experienced a 2.24% surge in its share price today, closing at Rs 464.90, compared to its previous close of Rs 454.70. This positive movement increased the company’s market capitalization by approximately Rs 3,360 crore, taking it to Rs 1,53,405.23 crore.

Key Trading and Stock Data:

Traded Volume: 69.21 lakh shares
Traded Value: Rs 320.35 crore
52-Week High: Rs 580.00 (12-Jul-2024)
52-Week Low: Rs 302.00 (15-Nov-2023)
VWAP (Volume Weighted Average Price): Rs 462.85

The company’s robust performance reflects strong investor confidence in its financial stability and growth prospects.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or Business Upturn is not liable for any losses arising from the use of this information.

Power Finance Corporation (PFC) shares gain nearly 5% after Q2 results

Aditya Bhagchandani — Mon, 11 Nov 2024 04:06:53 +0000

State-owned Power Finance Corporation Ltd (PFC) saw its shares rise by 4.08% to ₹467.75 on the NSE as of 9:35 am, following the announcement of its Q2 FY25 financial results, which demonstrated strong growth in both revenue and net profit.

Key Financial Highlights for Q2 FY25

Net Profit: PFC reported a net profit of ₹7,215 crore, an 8.9% increase year-on-year from ₹6,628.2 crore in Q2 FY24.
Revenue from Operations: Revenue grew by 15% to ₹25,721.8 crore, compared to ₹22,374.6 crore in the same period last year.
EBITDA: Operating EBITDA rose 10.5% to ₹25,354.2 crore, up from ₹22,942.4 crore in Q2 FY24, showcasing the company’s operational strength.

Dividend Announcement

The board has approved a second interim dividend of ₹3.50 per equity share (35%) for FY 2024-25, further enhancing returns for shareholders.

PFC’s robust performance and dividend announcement have contributed to its position as a leading large-cap gainer today.

Power Finance Corporation market cap sees ₹4,448 crore loss as shares decline over 3%

Aditya Bhagchandani — Wed, 23 Oct 2024 04:22:30 +0000

Power Finance Corporation Ltd. (PFC), a central Public Sector Undertaking (PSU) under the Ministry of Power, witnessed a significant decline in its share price, resulting in a market capitalization loss of approximately ₹4,448 crore. The company’s stock fell by 3.15% in trading, closing at ₹428.45, down from its previous close of ₹442.40. This marks a continued downward trend for PFC over the past few trading sessions.

Share Price Movement

On October 23, 2024, PFC’s shares dropped by ₹13.95, representing a 3.15% decline. The stock has experienced fluctuating performance over the last week, with multiple instances of price drops. Below is a summary of PFC’s recent share price movements:

Day	Open Price	Close Price	Day’s Change
Tue, Oct 22, 2024	₹462.00	₹442.40	-4.64%
Mon, Oct 21, 2024	₹473.50	₹463.95	-1.85%
Fri, Oct 18, 2024	₹468.80	₹472.70	+0.69%
Thu, Oct 17, 2024	₹480.00	₹469.45	-2.03%
Wed, Oct 16, 2024	₹476.90	₹479.20	+0.51%
Tue, Oct 15, 2024	₹478.00	₹476.75	+0.67%
Mon, Oct 14, 2024	₹469.95	₹473.60	+1.23%
Fri, Oct 11, 2024	₹469.60	₹467.85	-0.87%

Power Finance Corporation: A Brief Overview

PFC, founded in 1986, is primarily engaged in providing financial products and services to the power sector. The PSU was established with the objective of financing large-scale power projects and contributing to the development of power and related industries. Over the years, PFC has played a crucial role in supporting India’s power infrastructure.

On July 28, 2010, PFC was designated as an Infrastructure Finance Company by the Reserve Bank of India (RBI). As of September 30, 2023, the Central government held a 56% stake in the company, underscoring its importance in India’s public sector landscape.

Recent Financial Performance

While the share price has shown some volatility, PFC continues to focus on its role in power financing. Despite the market cap loss of ₹4,448 crore, PFC remains a key player in the financial sector. Its long-term performance will likely depend on factors such as interest rates, demand for energy infrastructure, and government policies related to the power sector.

Stock to Watch: PFC – Transfers transmission projects to Adani Energy Solutions for ₹38.4 crore

Aditya Bhagchandani — Tue, 15 Oct 2024 19:19:57 +0000

Power Finance Corporation (PFC) has transferred its Jamnagar Transmission and Navinal Transmission projects to Adani Energy Solutions for a combined amount of ₹38.4 crore. The transfer includes ₹19.3 crore for Jamnagar and ₹19.1 crore for Navinal.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Power Finance Corporation incorporates new subsidiary for transmission project in Bhadla and Bikaner

Markets Desk — Tue, 15 Oct 2024 11:43:51 +0000

Power Finance Corporation Limited (PFC) has announced the incorporation of a new Special Purpose Vehicle (SPV) named Bhadla and Bikaner Complex Transmission Limited. The SPV, which is wholly owned by PFC’s subsidiary, PFC Consulting Limited (PFCCL), is established for the development of transmission systems to facilitate the evacuation of power from the Bhadla and Bikaner complex.

PFCCL, appointed as the Bid Process Coordinator (BPC) by the Ministry of Power under the tariff-based competitive bidding guidelines, will oversee the selection of developers for these Independent Transmission Projects (ITPs). The BPC’s responsibilities include preparing the project profile, initiating the land acquisition process, and securing forest clearances if necessary.

The SPV will handle all preparatory activities, such as conducting surveys and reports, acquiring land, and obtaining clearances. Once the process is complete, the SPV will be transferred to the successful bidder selected through the international competitive bidding process as per the Ministry of Power’s guidelines.

Top 10 Dividend-paying stocks in India for 2024: Securing income with these market leaders

Finance Desk — Mon, 15 Jan 2024 11:44:15 +0000

The Indian stock market continues its impressive growth trajectory, fuelled by the country’s booming economy. For investors seeking a reliable source of income, dividend-paying stocks have become a popular choice. These stocks represent companies with a proven track record of distributing a portion of their profits to shareholders. As we step into 2024, the top 10 dividend-paying stocks in India that offer investors an opportunity to secure a steady stream of income.

1) Vedanta Ltd (VEDL):

(a) Dividend %: 1100

(b) Dividend (INR): 11.0

(d) Dividend type: 2nd Interim

Vedanta, a diversified metal and mining company, takes the lead with an impressive dividend yield. Investors can benefit from a robust dividend of 11.0 INR, reflecting the company’s commitment to rewarding its shareholders.

2) Coal India Ltd. (COALINDIA):

a) Dividend %: 152.5

b) Dividend (INR): 15.25

c) Ex-Date: 21-11-2023

d) Dividend type: Interim

Coal India Ltd. stands strong with a substantial dividend yield of 152.5%, offering investors a reliable income stream. The company’s interim dividend adds to its attractiveness for income-focused portfolios.

3) Power Finance Corporation Ltd. (PFC):

a) Dividend %: 45

b) Dividend (INR): 4.50

c) Ex-Date: 24-11-2023

d) Dividend type: Interim

Power Finance Corporation Ltd. provides investors with a dividend yield of 45%, underscoring its commitment to rewarding shareholders. The interim dividend on 24th November 2023 enhances the appeal of this stock.

4) NTPC Ltd. (NTPC):

a) Dividend %: 22.5

b) Dividend (INR): 2.25

c) Ex-Date: 03-11-2023

d) Dividend type: Interim

NTPC Ltd. showcases a solid dividend yield of 22.5%, positioning it as an attractive choice for income investors. The 2.25 INR interim dividend on 3rd November 2023 adds to the appeal of this energy sector giant.

5) HCL Technologies Ltd. (HCLTECH):

a) Dividend %: 600

b) Dividend (INR): 12.00

c) Ex-Date: 20-10-2023

d) Dividend type: Interim

HCL Technologies Ltd. stands out in the tech sector with a substantial dividend yield of 600%. The interim dividend of 12.00 INR on 20th October 2023 further enhances its attractiveness for income-seeking investors.

6) REC Ltd. (RECLTD):

a) Dividend %: 35.0

b) Dividend (INR): 3.50

c) Ex-Date: 13-11-2023

d) Dividend type: Interim

REC Ltd. provides a stable income stream with a dividend yield of 35.0%. The 3.50 INR interim dividend on 13th November 2023 reinforces its position as a reliable dividend-paying stock.

7) Hindustan Zinc Ltd. (HINDZINC):

a) Dividend %: 300

b) Dividend (INR): 6.0

c) Ex-Date: 14-12-2023

d) Dividend type: Interim

Hindustan Zinc Ltd. takes the spotlight with an impressive dividend yield of 300%. The 6 INR interim dividend on 14th December 2023 positions it as a top choice for income-focused investors.

8) Hinduja Global Solutions Ltd. (HGS):

a) Dividend %: 25

b) Dividend (INR): 2.5

c) Ex-Date: 13-09-2023

d) Dividend type: Interim

Hinduja Global Solutions Ltd. offers a balanced dividend yield of 25%, providing investors with a reliable income source. The 2.5 INR interim dividend on 13th September 2023 adds to its appeal.

9) NMDC Ltd. (NMDC):

a) Dividend %: 285

b) Dividend (INR): 2.85

c) Ex-Date: 31-08-2023

d) Dividend type: Interim

NMDC Ltd. showcases a noteworthy dividend yield of 285%, making it an attractive option for income investors. The 2.85 INR interim dividend on 31st August 2023 enhances its income potential.

10) Embassy Office Parks REIT Ltd. (EMBASSY):

a) Dividend %: 1.84

b) Dividend (INR): 5.53

c) Ex-Date: 03-11-2023

d) Dividend type: Interim

Embassy Office Parks REIT Ltd. provides a unique income opportunity with its interest distribution. The 5.53 INR distribution on 3rd November 2023 adds a distinct flavor to this real estate investment trust.

As we navigate the dynamic Indian stock market in 2024, these top 10 dividend-paying stocks offer investors a promising avenue for building a steady stream of income. With diverse sectors represented, from metals and mining to technology and real estate, these stocks present a well-rounded opportunity for income-focused portfolios. Further, it is always a prudent move as an investor to consider their financial goals before making investment decisions

Power Finance Corporation reports net profit of ₹4,893.91crore in Q3

Himanshu Mishra — Fri, 11 Feb 2022 15:58:41 +0000

Power Finance Corporation (PFC) on Friday reported a rise of nearly 24 percent in its consolidated net gain to Rs 4,893.91 crore for the third quarter, primarily due to a surge in revenue.

The company had recorded a consolidated net profit of Rs 3,963.18 crore in the same quarter of last fiscal, a BSE filing declared. Its revenue from policies during the quarter under review witnessed a 4% surge, i.e at ₹19,175.75 crore, from ₹18,434.88 crore reported in the third quarter of FY21.

For the period nine months ended December, the firm reported a 23% increase in its consolidated net profit at ₹14,483 crore, against the ₹11,810 crore in April-December FY21. Its operational revenue during April-December FY22 surged 7% on a year-on-year basis to ₹57,409 crore.

The board in its conference on Friday agreed on a third interim dividend of Rs 6 per equity stake (subject to deduction of TDS) on the face value of the paid-up equity shares of Rs 10 each for 2021-22.

However, Power Finance Corporation Ltd. (PFC) a Maharatna CPSE and country’s leading NBFC in the power sector, has earned the prestigious ICAI (Institute of Chartered Accountants of India) Silver award for superiority in financial reporting for the financial year 2020-21 in ‘Public Sector Entities’ category.