Power Finance Corporation Limited · NSE:PFC
Power Finance — Q1 FY2012 Earnings Presentation
18 slides from Power Finance's earnings presentation, July 2011
Slide 1: Power Finance Corporation Limited – Performance Highlights Quarter Ended 30th June 2011
We Create Possibility of a Better Tomorrow…. July 2011 Sun Mon Tue Wed Thu Fri Sat Power Finance Corporation Limited 1 2 A Navratna PSU 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Performance Highlights Quarter Ended 17 18 19 20 21 22 23 (Standalone & Un-Audited) 30th June 2011 24 25 26 27 28 29 30 31
Slide 2: Highlights – Q1 FY 12 vs. Q1 FY 11
Highlights – Q1 FY 12 vs. Q1 FY 11 Net Profit increased by 5% from ` 652 crore to ` 686 crore Comparable PAT increased by 14 % from ` 626 crore to ` 716 crore Total Income increased by 21 % from ` 2,418 crore to ` 2,924 crore Net Interest Income increased by 15 % from ` 858 crore to ` 990 crore 2 We
Slide 3: Highlights – Q1 FY 12 vs. Q1 FY 11
Highlights – Q1 FY 12 vs. Q1 FY 11 Sanctions increased by 17 % from ` 14,428 crore to ` 16,941 crore Loan Assets increased by 22 % from ` 85,597 crore to ` 1,04,050 crore Networth increased by 40 % from ` 13,035 crore to ` 18,256 crore 3 We Create Possibility of a Better Tomorrow….
Slide 4: Comparable Profit
Comparable Profit (Y/E – March, ` Crores) Q1 FY Q1 FY Comparable Profit % change FY 2011 FY 2010 % change 2012 2011 Reported PAT 686 652 5% 2,620 2,357 11% Adjustments (post-tax): Prior period Income Tax incl. interest (14) (26) (29) (176) thereon Nodal Agency Fees - R-APDRP (12) (49) (83) 13 Transl
Slide 5: Profit & Loss Account
Profit & Loss Account (Y/E – March, ` Crores) Income Statement# Q1 FY 2012 Q1FY 2011 FY 2011 FY 2010 Interest Income 2,848 2,312 9,835 7,845 Interest Expense (1,858) (1,454) (6,312) (4,937) Net Interest Income 990 858 3,523 2,908 Other Income* 35 65 142 91 Operating Costs (27) (1) (98) (110) Provisi
Slide 6: Return on Average Assets
Return on Average Assets Dupont Analysis Q1 FY 2012 Q1 FY 2011 FY 2010-11 FY 2009-10 Net Interest Income 0.92% 0.98% 3.75% 3.80% Other Income 0.03% 0.07% 0.15% 0.12% Operating Expenses -0.03% -0.002% -0.10% -0.14% Operating Profit 0.93% 1.05% 3.79% 3.78% Provisions -0.01% 0.000% -0.03% 0.003% Profit
Slide 7: Balance Sheet
Balance Sheet (Y/E – March, ` Crores) Liabilities Q1 FY 12 Q1 FY 11 FY 2011 FY 2010 Shareholders’ Funds 19,278 13,913 15,182 13,261 Reserve for bad & doubtful debts 1,023 878 985 842 (included in Shareholder’s Funds) Borrowings 86,500 71,630 85,599 67,108 Deferred Tax Liability 81 44 83 47 Interest
Slide 8: Key Indicators
Key Indicators Key Indicators Q1 FY 2012 Q1 FY 2011 FY 2011 FY 2010 Sanctions (` Crores) 16,941 14,428 75,197 65,466 Net outstanding sanctions (` Crores) 1,71,554 1,41,877 171,377 141,813 Disbursements (` Crores) 6,220 8,128 34,121 25,808 Loan Assets (` Crores) 1,04,050 85,597 99,571 79,856 Yield on
Slide 9: Sanctions – Composition
Sanctions – Composition (Y/E – March, ` Crores) Sanctions Q1 FY 2012 Q1 FY 2011 FY 2010-11 FY 2009-10 Discipline-wise Amount % Amount % Amount % Amount % Generation 11,001 65% 5,763 40% 51,855 69% 43,629 67% Transmission 1,165 7% 3,109 22% 4,172 6% 11,620 18% Distribution 19 0.1% 126 1% 216 0.3% 295
Slide 10: Disbursements – Composition
Disbursements – Composition (Y/E – March, ` Crores) Disbursements Q1 FY 2012 Q1 FY 2011 FY 2010-11 FY 2009-10 Discipline-wise Amount % Amount % Amount % Amount % Generation 4,781 77% 4,698 58% 22,389 66% 19,682 76% Transmission 542 9% 430 5% 2,615 8% 1,056 4% Distribution 414 7% 309 4% 1,825 5% 630
Slide 11: Outstanding Sanctions as on 30.06.2011
Outstanding Sanctions as on 30.06.2011 (Y/E – March, ` Crores) O_S Sanctions where Total Outstanding doc. executed & doc. executed but disb. Sanctions doc. not executed disb. commenced not commenced Discipline-wise Generation 52,020 18,232 53,947 1,24,199 Transmission 10,391 5,072 4,016 19,479 Distr
Slide 12: Loan Assets – Composition
Loan Assets – Composition (Y/E – March, ` Crores) Loan Assets* Q1 FY 2012 Q1 FY 2011 FY 2011 FY 2010 Discipline-wise Amount % Amount % Amount % Amount % Generation 87,987 85% 70556 82% 84,294 85% 67,013 84% Transmission 7,945 8% 6470 8% 7,596 8% 6,284 8% Distribution 4,940 5% 3583 4% 4,701 5% 3,402
Slide 13: Loan Quality
Loan Quality (Y/E – March, ` Crores) Particulars Q1 FY 12 Q1 FY 11 FY 2011 FY 2010 Gross NPAs 238 13 231 13 Less: Provisions & write-offs (32) (7) (36) (7) Net NPAs 206 6 195 6 As a % of Loan Assets: Gross NPAs 0.23% 0.02% 0.23% 0.02% Net NPAs 0.20% 0.01% 0.20% 0.01% 13 We Create Possibility of a Be
Slide 14: Borrowing Profile
Borrowing Profile (Y/E – March, ` Crores) Q1 FY 12 Q1 FY 11 FY 2010-11 FY 2009-10 Borrowings Amount % Amount % Bonds 61723 71% 53079 74% 56,950 67% 46,622 69% Term Loans 21142 25% 18204 25% 22,358 26% 18,161 27% Short Term Loans 3635 4% 347 0.5% 6,291 7% 2,325 3% Borrowings O/s 86500 100% 71630 100%
Slide 15: Resource Profile
Resource Profile (Y/E – March, ` Crores) Q1 FY 12 Q1 FY 11 FY 2010-11 FY 2009-10 Resources Amount % Amount % Amount % Amount % Shareholders’ Funds 19,278 18% 13,913 16% 15,182 15% 13,261 16% Reserve for bad & doubtful debts 1023 878 985 842 (included in Shareholder’s Funds) Deferred Tax 81 0.1% 44 0
Slide 16: Major Projects Sanctioned in Q1 FY 2012
Major Projects Sanctioned in Q1 FY 2012 PROPOSAL DISCRIPTION Sanctions (` in crores) 1200 MW coal based TPP of Singareni Collieries Company Limited at 3980 AP 500 MW coal based extn. TPS of Bihar State Electricity Board at 2898 Barauni, Bihar 1320 MW coal based TPS of NSL Nagapatnam Power and Infrat
Slide 17: Shareholding Pattern
Shareholding Pattern Holding (%) Category As on 30.06.11 As on 30.06.10 As on 31.03.11 As on 31.03.10 President of India 73.72% 89.78% 89.78% 89.78% FIIs 6.04% 3.77% 3.62% 3.85% Indian FIs & Banks 5.49% 2.12% 2.45% 2.10% Bodies Corporate 7.35% 1.79% 2.09% 1.60% Resident Individuals 3.27% 1.35% 1.32%
Slide 18: Thank You!
Thank You! 18 We Create Possibility of a Better Tomorrow….