Slides
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Quarter ended 30th September 2025 Performance Highlights P O W E R F I N A N C E C O R P O R A T I O N L T D . A M a h a r a t n aP S U Funding for a brighter Tomorrow
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I. Table of Contents PFC AT A GLANCE Powering Nation’s Development PFC Group structure PFC Financing Progress II. Consolidated highlights Key Consolidated Financials III. IV. ESG AT PFC ESG Vision ESG journey so far ESG performance snapshot Page • 2 CONSOLIDATED PERFORMANCE STANDALONE PERFORMANCE Highlights Earning Update Operational Performance Shareholder Outlook Asset quality ESG Rating
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PFC At a Glance
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POWER FINANCE CORPORATION LTD. Powering Nation’s Development Page • 4 International rating at par with India’s sovereign rating AAA rated NBFC Largest NBFC Group in India Majority owned by Government of India Highest Profit making NBFC in India* Forayed into international lending- through first power & infra finance company setup in IFSC GIFT City, i.e. PIFIL** Largest renewable financier in India #36 in Fortune 500 India’Dec 2024 and #18 in Forbes Global 2000:India (2025) * For FY 2024-25 ** PFC IFSC Limited, PFC’s wholly owned subsidiary
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PFC Group Structure 100 % 47.15 %52.63 % 100 % Associates Ultra Mega Power Projects 100% Subsidiaries PFC Consulting 100% 100% Power Finance Corporation 52.63% PFC Infra Finance IFSC REC Ltd. Page • 5
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POWER FINANCE CORPORATION LTD. Page • 6 PFC Financing Progress - Milestone by Milestone 1986 Incorporated as 100% Govt owned company 2010 FPO, GOI shareholding reduced to 56% 2019 1st green bond issue, USD 400 million 2007 IPO, listed on BSE, NSE (India) 2017 2021 Acquired majority stake in REC, became largest power sector financier in India 2023 - New business line - Infra & logistics 2024 First foreign Subsidiary incorporated in IFSC, GIFT City From its incorporation in 1986, till date, PFC has achieved multiple milestones, from its IPO in 2007 to its first green bond issue, to doubling of its loan portfolio in less than a decade Appointed as nodal agency for RDSS 2025 - Crossed INR 5 trillion mark in loan assets
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Consolidated Performance
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POWER FINANCE CORPORATION LTD. Page • 8 Increase in PAT registered for H1’26 Y-o-Y growth in loan asset book Y-o-Y increase in net worth* 17% 10% 15% Improving asset quality, with continuous reduction in NPA ratios Registered Profit After Tax of Rs. 16,816 crores in H1’26 vs Rs. 14,397 crores in H1’25 Rs. 11,43,369 crores as on 30.09.2025 vs Rs. 10,39,472 crores as on 30.09.2024 Rs. 1,66,821 crores as on 30.09.2025 vs Rs. 1,45,158 crores as on 30.09.2024 Net NPA ratio at 0.30% for H1’26, decline of 50 bps from H1’25 Gross NPA also declined significantly by 117 bps and is at 1.45% for H1’26 Consolidated Highlights * Including Non-Controlling Interest
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POWER FINANCE CORPORATION LTD.Some figures may have been regrouped / reclassified for analysis purpose. Therefore, they may not reconcile with the reported figures. Page • 9 Q2 FY 26 Q2 FY 25 H1 FY 26 H1 FY 25 Interest income 25,398 56,327 49,925 Interest expense 16,006 34,518 31,526 Net interest income 9,392 21,809 18,399 Profit after tax 7,215 16,816 14,397 Total comprehensive income 6,135 14,587 13,718 (Rs.’ crore) 28,069 17,314 10,755 7,834 8,479 Key Consolidated Financials
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Standalone Performance
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11 Highlights Standalone performance 01
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POWER FINANCE CORPORATION LTD. H1’26 in Perspective Page • 12 23% increase in Net Interest Income for H1’26 Highest ever half-yearly disbursement in H1’26 Net Interest Income of Rs. 10,759 cr. in H1’26 vs Rs. 8,736 cr. in H1’25 Strong NII growth led to Profit After Tax of Rs. 8,963 cr. in H1’26 vs Rs. 8,088 cr. in H1’25 Rs. 85,994 cr. disbursed in H1’26 vs Rs. 66,146 cr. in H1’25, an increase of 30% Rs. 5,61,209 cr. as on 30.09.2025 vs Rs. 4,93,363 cr. as on 30.09.2024 CRAR for H1’26 at 21.62%, well above the regulatory requirement Net worth as on 30.09.2025 at Rs. 97,525 cr., increase of 13% from 30.09.2024 EFA’s first-ever financing initiative in India for USD 180 million Highlights PFC’s continued focus on diversifying funding sources, strengthening global partnerships and supporting India’s clean energy transition PFC collaborates with Export Finance Australia* to accelerate energy transition 14% Y-o-Y double digit growth in loan asset book Comfortable capital levels maintained quarter on quarter *Australian Government’s Export Credit Agency
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13 Earning Update Standalone performance 02
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POWER FINANCE CORPORATION LTD.Some figures may have been regrouped / reclassified for analysis purpose. Therefore, they may not reconcile with the reported figures. Page • 14 Q2 FY 26 Q2 FY 25 H1 FY 26 H1 FY 25 Interest income 11,909 27,212 23,736 Interest expense 7,502 16,453 15,003 Net interest income 4,408 10,759 8,733 Profit after tax 4,370 8,963 8,088 Total comprehensive income 4,542 8,527 8,579 (Rs.’ crore) 13,473 8,183 5,290 4,462 4,435 Revenue & Growth
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POWER FINANCE CORPORATION LTD. Some figures may have been regrouped / reclassified for analysis purpose. Therefore, they may not reconcile with the reported figures. Page • 15 H1 FY 26 FY 25 H1 FY 25 Yield on Earning Assets 9.98 10.02 10.11 Cost of funds 7.43 7.44 7.50 Interest spread on Earning Assets 2.55 2.58 2.61 Net Interest Margin on Earning Assets 3.62 3.64 3.57 Net worth (Share Capital + All reserves) Rs.97,525 cr. Rs.90,937 cr. Rs.85,924 cr. (Ratios in %) Key Ratios
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16 Asset Quality Standalone performance 03
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POWER FINANCE CORPORATION LTD. Asset Synopsis- H1’26 Page • 17 80% provisioning maintained on NPA Net NPA ratio at 0.37% Loan Assets Rs.5,61,209 cr. Disbursements Rs.85,994 cr. Renewable book 15% of loan book Gross NPA Ratio 1.87% Government Sector 76% Private Sector 24% Majority Lending to Govt. Sector
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POWER FINANCE CORPORATION LTD. FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 H1 FY 26 Page • 18 Robust Asset Quality Decreasing NPA trend testament to PFC’s successful resolution efforts Lowest Net NPA ratio in last 10 years Net NPA Ratio at 0.37% Net NPA Ratio Gross NPA Ratio9.39% 8.08% 5.70% 5.61% 3.91% 3.34%4.55% 3.80% 2.09% 1.76% 1.07% 0.85% 0.39% 1.94% 0.37% 1.87%
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POWER FINANCE CORPORATION LTD. Page • 19 Government sector - 4,25,568 Private sector 10,487 1,35,640 TOTAL OUTSTANDING 10,487 5,61,209 TOTAL PROVISIONING 8,411 13,972 Total Provisioning (%) 80% 2.49% (Rs.’ crore) 4,25,568 1,25,153 5,50,722 5,561 1.01% Provisioning Snapshot- 30.09.2025 STAGE I & II STAGE III TOTAL LOAN ASSET OUTSTANDING LOAN ASSETS Provisioning Status as on 30.09.2025 80% provisioning against Stage III Assets (NPA) STAGE III (as % of Gross Loan Assets) OUTSTANDING STAGE III (IN %) 1.87%Private Sector NILGovernment Sector 1.87%GROSS STAGE III (IN %) 80%TOTAL PROVISIONING (IN %) 0.37%NET STAGE III ASSETS (IN %) Note - Provision has been made in respect of all loans assets as per Expected Credit Loss (ECL) methodology under Ind AS. NET ASSETS 2,076 5,47,2375,45,161
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POWER FINANCE CORPORATION LTD. Resolution status of Rs. 10,487 cr. of loan assets in Stage 3 Page • 20 UNDER NCLT OUTSIDE NCLT Rs.8,472 cr. in NCLT 11 projects 87% provision Rs.2,015 cr. resolution being pursued outside NCLT 11 projects 51% provision Resolution Status- Stage III Assets
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21 Operational Performance Standalone performance 04
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POWER FINANCE CORPORATION LTD. Page • 22 (Rs.’ crore) As on 30.09.2025 Provisioning Status as on 31.03.2025 80% provisioning against Stage III Assets (NPA) Loan Asset- Composition Gross Loan Assets Scheme wise Generation - Conventional Generation - Renewable Energy - Large Hydro Projects (>25MW) - Solar/Wind & Other RE Projects Transmission Distribution Infra & logistics Others Sector wise Government sector Private sector Loan Asset Mix Conventional Generation 31% Renewable (including Large Hydro) 15% T&D 48% Infrastructure 3% Others 3.66% As on 30.09.2024 5,61,209 4,93,363 2,58,601 2,34,998 1,73,922 1,70,720 84,679 64,227 16,713 16,150 67,967 48,128 39,648 36,895 2,27,629 2,00,332 14,768 9,431 20,563 11,708 4,25,568 3,93,284 1,35,640 1,00,080
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POWER FINANCE CORPORATION LTD. Some figures may have been regrouped / reclassified for analysis purpose. Therefore, they may not reconcile with the reported figures. Page • 23 Q2 FY 26 (Rs.’ crore) Disbursement Composition Disbursements Scheme wise Generation Transmission Distribution Infra & logistics Others Sector wise Government sector Private sector 49,841 100% 46,663 100% 85,994 100% 66,146 100% 14,951 30% 14,910 32% 26,075 30% 20,306 31% 2,676 5% 2,136 5% 4,040 5% 2,887 4% 26,171 53% 27,053 58% 48,965 57% 38,542 58% 1,887 4% 2,008 4% 2,235 3% 2,423 3.7% 4,157 8% 556 1.2% 4,678 5% 1,988 3% 34,766 70% 33,390 72% 62,961 73% 48,017 73% 15,076 30% 13,273 28% 23,033 27% 18,129 27% Amt % Q2 FY 25 H1 FY 26 H1 FY 25 Amt % Amt % Amt %
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*Includes perpetual debt ** Consists of Loan against deposits, overdraft, cash credit 95% exchange risk hedged on total FC portfolio 95% exchange risk hedged on total FCL portfolio Rs.4,74,434 cr. Outstanding Borrowings as on 30.09.2025 Borrowing Mix as on 30.09.2025 54EC Bonds Rs. 10,025 cr. (2%) RTL from Banks/FI’s Rs. 95,177cr. (20%) Foreign Currency Borrowing Rs. 91,966 cr. (19%) Subordinated Liabilities Rs.3,987 cr.* (0.84%) Commercial Papers Domestic Bonds Rs.2,60,491cr. (55%) Others** Rs. 8,459cr. (1.78%) Rs.4,329cr. (0.91%)
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Shareholder Outlook Standalone performance 05
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Consistent foreign institutional shareholding reflects continuous investor confidence Shareholder Outlook as on 30.09.2025 Above ratios are for Q1’26 & are based on the last available closing share price from BSE as on the end of reporting period i.e. Rs. 410.35 EPS (Annualized) Rs.54.32 Price to Book Value Ratio 1.39 Book Value Per Share Rs.295.52 Price to Earning Ratio 7.55 7.36 % Resident Individuals 4.63 % QIB* 1.06 % Bodies Corporate 55.99 % President of India 18.84 % FIIs & FPIs** 10.58 % Mutual Funds 1.03 % Others 0.47 % Indian FIs & Banks 0.03 % Employees * Qualified Institutional Buyers ** Foreign Institutional Buyers and Foreign Portfolio Investor
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ESG At PFC
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ESG At PFC Vision- Powering Progress through Sustainability PFC is committed to playing a leading role in shaping a sustainable and resilient future for India. PFC’s ESG vision rests on three pillars: We are committed to lead by example in fostering a sustainable low-carbon economy & driving national growth by ensuring fair and sustainable financing solutions, while preserving the environment. At our core, we prioritize upholding unwavering integrity, maintaining stakeholders' trust, and establishing transparency and accountability through robust corporate governance & risk management practices. We strive to make a meaningful impact not only for ourselves but also for our stakeholders. At the forefront of our corporate ethos is fostering a diverse, inclusive, and engaged workforce, as well as enabling the community through our CSR efforts. Pillar I Preserving Planet Pillar III Pursuing Prudence Pillar II Promoting the Pathway towards Inclusive Society Page • 28
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POWER FINANCE CORPORATION LTD. Page • 29 PFC’s ESG Journey so far . ESG Report Published 1st ever ESG report ESG and Materiality assessment Conducted first ESG and Materiality assessment workshop. Hosted ESG workshops for employees and management ESG Unit Established Vision & Pillars Defined: “Powering Progress through Sustainability” with three pillars 2023 JULY 2025 MARCH 2025 JULY 2024 APRIL Climate Impact Assessment Evaluated top 22 RE projects with 5.3 million tonnes of CO₂ equivalent emissions avoided annually 2024 JULY Strengthening ESG disclosures Mapped material topics to the UN SDGs* Released our 2nd ESG report ‘in reference to’ GRI Universal Standards 2021 * United Nations Sustainable Development Goals
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POWER FINANCE CORPORATION LTD. Page • 30 ESG Performance Snapshot for FY 25 Environment Conversion of Conventional office fleet to EV ~44% Carbon emissions avoided in FY 2025 1140 Lakh Tonnes Total RE Capacity supported 60 GW RE loan book FY 2025 ₹ 81,031Crores RE Loan Book Growth (Y-o-Y) 35% Social Employee Attrition 0.73 % Training person days to employees 1921 Community Expenditure ₹ 244 Crore Lost Time Injury Frequency Rate (LTIFR) Zero Women Employee Ratio ~22 % Gender Pay Gap at Grade Level Zero Governance Women in the Board* 2 Independent Directors in BoD* 50% Vigilance training programs in FY25 293 Person days ₹ 15.80 per share Conflict of interest: complaints registered in FY25 Zero Dividend Distribution in FY25 * As on 7th November,2025
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POWER FINANCE CORPORATION LTD. Page • 31 37005 37474 36777 48198 60208 81031 84679 0 10000 20000 30000 40000 50000 60000 70000 80000 90000 FY 20 FY 21 FY22 FY23 FY24 FY25 H1 FY 26 RE Loan Book Growth over the years RE Loan book 84% 83% 83% 79% 74% 68% 67% 16% 17% 17% 21% 26% 32% 33% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 H1 FY 26 Generation Book Transition: Renewable Energy Grows from 16% to 33% Between FY20 and H1 FY26 Loan Book - Conventional Generation Loan Book - RE Generation RE Loan Book Doubles Over 5 years PFC has supported ~60 GW of renewable energy capacity (~27% of India's non fossil fuel based installed capacity) till FY 2025 RE Share in Generation Loan Book Doubles in 5 years to 33% by H1 FY26 PFC – Leading Financer of Energy Transition in India
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POWER FINANCE CORPORATION LTD. Page • 32 Improvements in ESG ratings driven by strengthened & enhanced sustainability reporting Rating Type Scale (Best to Worst) Latest rating score ESG Risk Rating 0 to 100 15.9 (Low Risk) ESG Score (used in NIFTY100 ESG Indices) 100 to 0 68 ESG Rating and Core ESG Rating 100 to 0 57 S&P Global Corporate Sustainability Assessment (CSA) 100 – 0 26 (medium data availability) MSCI ESG rating AAA – CCC (Best to Worst) BB Constituent company in the FTSE4Good Index series
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Investor Resources Annual Report Financial results Investor announcements Investor FAQs Recent reports relevant to power sector https://pfcindia.co.in/ensite/Home/VS/72 https://pfcindia.co.in/ensite/Home/VS/73 https://pfcindia.co.in/ensite/Home/VS/10201 https://www.pfcindia.co.in/ensite/FAQ https://mnre.gov.in/NEP https://pfcindia.co.in/ensite/Home/VS/25 ESG Report https://pfcindia.co.in/ensite/Home/VS/10201 Join us: @pfclindia www.pfcindia.co.in
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Contact information Investor Relations Team investorrelations@pfcindia.com Equity Share Queries investorsgrievance@pfcindia.com Bond Queries 54EC Bonds - 54ECinvestorcell@pfcindia.com Other Bonds - bondsinvestorcell@pfcindia.com Join us: @pfclindia www.pfcindia.co.in
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The presentation is prepared based on consolidated/stand-alone un-audited financial statements of PFC for quarter ended 30.09.2025. There is a possibility of Ind AS financial results and the additional disclosures to be updated, modified or amended because of adjustments which may be required to be made on account of introduction of new standards or its interpretation, receipt of guidelines or circulars from regulatory bodies and/or Reserve Bank of India This presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward looking statements. The future involves uncertainties and risks that could cause actual results to differ materially from the current views being expressed. Potential uncertainties and risks include factors such as general economic conditions, currency fluctuations, competitive product and pricing pressures, industrial relations and regulatory developments. We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superseded. Figures are regrouped / reclassified to make them comparable. Analytical data’ are best estimates to facilitate understanding of business and NOT meant to reconcile reported figures. Answers will be given only to non-price sensitive questions. This presentation is for information purpose only and does not constitute an offer or recommendation to buy or sell any securities of PFC. Any action taken by you on the basis of the information contained in the presentation is your responsibility alone and PFC or its directors or employees will not be liable in any manner for the consequence of such actions taken by you. Disclaimer