Power Finance Corporation Limited · NSE:PFC
Power Finance — 9M FY11 Earnings Presentation
19 slides from Power Finance's earnings presentation, Jan 17, 2011
Slide 1: Performance Highlights 3rd Quarter & 9 months ended 31st December 2010
We Create Possibility of a Better Tomorrow…. January 2011 Power Finance Corporation Limited Sun Mon Tue Wed Thu Fri Sat A Navratna PSU 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Performance Highlights 3rd Quarter & 9 months 16 17 18 19 20 21 22 ended on 23 24 25 26 27 28 29 31st December 2010 (Standalone,
Slide 2: Disclaimer
Disclaimer By reading the presentation slides, you agree to be bound by the following limitations: This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any securities of Power Finance Corporation of India Limited (the "Compa
Slide 3: Highlights – 9M FY11 vs 9M FY10
Highlights – 9M FY11 vs 9M FY10 Net Profit increased by 15 % from ` 1,756 crore to ` 2,012 crore Comparable PAT increased by 23 % from ` 1,575 crore to ` 1,933 crore Interest Spread increased by 11 bps from 2.65 % to 2.76 % Total Income increased by 26 % from ` 5,969 crore to ` 7,537 crore Net Inter
Slide 4: Highlights – 9M FY11 vs 9M FY10
Highlights – 9M FY11 vs 9M FY10 Net NPA reduced to Nil from 0.01% of Net Loan Assets Disbursements increased by 45 % from ` 15,355 crore to ` 22,270 crore Sanctions increased by 57 % from ` 38,976 crore to ` 61,077 crore Loan Assets increased by 27 % from ` 72,441 crore to ` 92,118 crore Net worth i
Slide 5: Comparable Profit
Comparable Profit (Y/E – March, ` Crores) Q3 Q3 % 9M 9M % Comparable Profit FY 10 FY11 FY10 change FY 11 FY 10 change Reported PAT 659 564 17 % 2,012 1,756 15 % 2,357 Adjustments (post-tax): Prior period Income Tax incl. interest (2) (1) (26) (104) (176) thereon Nodal Agency Fees and reimbursement o
Slide 6: Profit & Loss Account
Profit & Loss Account (Y/E – March, ` Crores) Income Statement# Q3 FY11 Q3 FY10 9M FY11 9M FY10 FY10 Interest Income 2,508 1,985 7,267 5,777 7,845 Interest Expense (1,582) (1,238) (4,587) (3,611) (4,937) Net Interest Income 926 746 2,680 2,166 2,908 Other Income* 31 13 134 99 91 Operating Costs (29)
Slide 7: Return on Average Assets
Return on Average Assets Dupont Analysis Q3 FY11 Q3 FY10 9M FY11 9M FY10 FY10 Net Interest Income 0.97% 0.99% 2.94% 2.98% 3.80% Other Income 0.03% 0.02% 0.15% 0.14% 0.12% Operating Expenses -0.03% -0.03% -0.07% -0.09% -0.14% Operating Profit 0.97% 0.97% 3.01% 3.03% 3.78% Provisions -0.01% 0.001% -0.
Slide 8: Balance Sheet
Balance Sheet (Y/E – March, ` Crores) Liabilities 31.12.2010 31.12.2009 31.03.2010 Shareholders’ Funds 15,274 13,264 13,261 Reserve for bad & doubtful debts (included in Shareholder’s Funds) 951 811 842 Borrowings 76,447 58,514 67,108 Deferred Tax Liability 81 51 47 Interest Subsidy Fund 571 771 663
Slide 9: Key Indicators
Key Indicators Key Indicators Q3 FY11 Q3 FY10 9M FY11 9M FY10 FY10 Disbursements (` Crores) 7,802 6,493 22,270 15,355 25,808 Sanctions (` Crores) 17,800 4,247 61,077 38,976 65,466 Net outstanding Sanctions (` Crores) 170,821 125,207 170,821 125,207 141,813 Loan Assets (` Crores) 92,118 72,441 92,118
Slide 10: Disbursements – Composition
Disbursements – Composition (Y/E – March, ` Crores) Disbursements Q3 FY11 Q3 FY10 9M FY11 9M FY10 FY10 Discipline-wise Amount % Amount % Amount % Amount % Amount % Generation 5,573 71% 4,811 74% 14,419 65% 11,729 76% 19,682 76% Transmission 925 12% 202 3% 1,966 9% 678 5% 1,056 4% Distribution 391 5%
Slide 11: Sanctions – Composition
Sanctions – Composition (Y/E – March, ` Crores) Sanctions Q3 FY11 Q3 FY10 9M FY11 9M FY10 FY10 Discipline-wise Amount % Amount % Amount % Amount % Amount % Generation 12,500 70% 1,777 42% 40,769 67% 28,053 72% 43,629 67% Transmission 300 2% 643 15% 3,710 6% 5,650 15% 11,620 18% Distribution 12 0.1%
Slide 12: Loan Assets – Composition
Loan Assets – Composition (Y/E – March, ` Crores) Loan Assets* 31.12.2010 31.12.2009 31.03.2010 Discipline-wise Amount % Amount % Amount % Generation 77,833 85% 60,488 84% 67,013 84% Transmission 7,139 8% 6,154 9% 6,284 8% Distribution 4,072 4% 3,239 4% 3,402 4% Others** 2,996 3% 2,451 3% 3,163 4% T
Slide 13: Outstanding Sanctions as on 31.12.2010
Outstanding Sanctions as on 31.12.2010 (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 52,965 16,263 57,265 126,492 Transmission 10,996 3,792 4,491 19,279 Distri
Slide 14: Loan Quality
Loan Quality (Y/E – March, ` Crores) Particulars 31.12.2010 31.12.2009 31.03.2010 31.03.2009 Gross NPAs 13 13 13 13 Less: Provisions & write-offs (13) (7) (7) (7) Net NPAs 0 6 6 6 As a % of Loan Assets: Gross NPAs 0.01% 0.02% 0.02% 0.02% Net NPAs - 0.01% 0.01% 0.01% 14 We Create Possibility of a Bet
Slide 15: Borrowing Profile
Borrowing Profile (Y/E – March, ` Crores) 31.12.2010 31.12.2009 31.03.2010 Borrowings Amount % Amount % Amount % Bonds 56,269 74% 42,724 73% 46,622 69% Domestic 55,454 41,876 45,801 Foreign 815 848 820 Term Loans 19,206 25% 14,773 25% 18,161 27% Short Term Loans 971 1% 1,017 2% 2,325 3% Borrowings O
Slide 16: Resource Profile
Resource Profile (Y/E – March, ` Crores) 31.12.2010 31.12.2009 31.03.2010 Resources Amount % Amount % Amount % Shareholders’ Funds 15,274 17% 13,264 18% 13,261 16% Reserve for bad & doubtful debts 951 811 842 (included in Shareholder’s Funds) Deferred Tax Liability 81 0.1% 51 0.1% 47 0.1% Interest S
Slide 17: Major Projects Sanctioned in 9M FY 2011
Major Projects Sanctioned in 9M FY 2011 PROPOSAL DISCRIPTION Sanctions (` in crores) 2X800 MW Coal Based TPP of APGENCO at Vodarevu in AP 6,806 2X660 Mw IB Thermal Power Station Being Setup by OPGCL in Orissa 5,625 700 MW Coal Based TPS Unit 3 At Bellary of KPCL in Karnataka 3,081 1220 MW Combined C
Slide 18: Shareholding Pattern
Shareholding Pattern Holding (%) Category As on 31.12.2010 As on 31.12.2009 As on 31.03.2010 As on 31.03.2009 President of India 89.78% 89.78% 89.78% 89.78% FIIs 3.51% 3.81% 3.85% 4.01% Indian FIs & Banks 2.21% 2.07% 2.10% 1.92% Bodies Corporate 2.08% 1.41% 1.60% 0.90% Resident Individuals 1.34% 1.4
Slide 19: Thank You!
Thank You! 19 We Create Possibility of a Better Tomorrow….