Power Finance Corporation Ltd. (PFC) is a central Public Sector Undertaking (PSU) primarily engaged in offering a range of financial products and services for the power sector. The Ministry of Power PSU was founded in 1986 for power sector financing. PFC was established with a focus on financing the large scale power projects and overseeing the development of power and related industries.
PFC was officially designated as an Infrastructure Finance Company by the RBI on July 28, 2010. The Central government held 56% stake in the company, as of September 30, 2023.
PFC was ranked 378th globally in terms of assets according to the 2023 Forbes Global List.
The market capitalisation of Power Finance Corporation stood at nearly ₹1,34,000 crore as of January 8, 2024. The PFC share price has gained nearly 320% in the last three years.
Power Finance Corporation Business Operations
Power Finance Corporation is the largest non-banking financial company (NBFC) by net worth. With a market share of approximately 20%, PFC is a big player within the power financing sector. The PSU has been designated as a nodal agency for initiatives like the Revamped Distribution Sector Scheme (RDSS), Late Payment Surcharge (LPS) Rules, Integrated Power and Development Scheme (IPDS), Ultra Mega Power Projects (UMPPs). It is also serving as the Bid Process Coordinator for Independent Transmission Projects (ITPs).
PFC provides a range of financial solutions including rupee-term loans, short-term loans, equipment lease financing and transitional financing for power projects spanning generation, transmission and distribution sectors. It has also entered the infrastructure and logistics vertical serving e-vehicle fleets, charging infrastructure, roads, ports, metro rail, smart cities and other projects. The company, via its subsidiary PFC Consulting Limited, has started the Tariff Based Competitive Bidding Process (TBCB) to enhance and expand the transmission system by involving the private sector in the development efforts.
PFC's customers comprise both Central and state government companies, private sector power utilities, power equipment manufacturers, state government departments and companies involved in development of infrastructure projects.
The total installed capacity of Power Finance Corporation reached 416,059 megawatts (MW) as of March 31, 2023. Thermal sources contributed approximately 57% (237,268.91 MW), while hydropower projects contributed around 11% (46,850.17 MW). Renewable energy sources accounted for about 30% (125,159.81 MW) and nuclear power made up roughly 2% (6,780.00 MW) of the total installed capacity.
In terms of ownership distribution, the state government-backed sector held around 25% (105,726.43 MW), the private sector accounted for about 51% (210,278 MW) and the central government-owned sector comprised approximately 24% (100,054.93 MW) of the installed capacity.
PFC’s financial products include grants and interest-free loans for consultancies, project term loans, lease financing for the purchase of equipment, short to medium-term loans to equipment manufacturers, corporate loans and line of credit for import of coal.
PFC Financial Highlights
- Revenue: PFC reported revenue of ₹1,15,443.61 crore in FY26 vs ₹1,06,501.62 crore in FY25. It showed an increase of 8.40% on a yearly basis.
- Operating Profit: PFC reported an operating profit of ₹42,849.68 crore in FY26 vs ₹38,632.16 crore in FY25. It showed an increase of 10.92% on a year-on-year basis.
- Net Profit: PFC reported a net profit of ₹33,625.34 crore in FY26 vs ₹30,514.40 crore in FY25. It showed an increase of 10.19% on a yearly basis.
PFC Quarterly Result Highlights
- PFC reported revenue of ₹28,919.52 crore in Mar 2026, compared with ₹29,094.81 crore in Dec 2025, representing a decrease of 0.60% on a quarter-on-quarter (QoQ) basis.
- PFC reported an operating profit of ₹11,091.79 crore in Mar 2026, compared with ₹10,501.55 crore in Dec 2025, representing an increase of 5.62% on a quarter-on-quarter (QoQ) basis.
- PFC reported a profit of ₹8,597.61 crore in Mar 2026, compared with ₹8,211.90 crore in Dec 2025, reflecting an increase of 4.70% on a QoQ basis.
- The earnings per share (EPS) of PFC stood at ₹69.67 during Mar 2026.
