Power Finance Corporation Limited · NSE:PFC

Power Finance — Q4 FY2018 Earnings Presentation

32 slides from Power Finance's earnings presentation, May 2018

  1. Slide 1: Performance Highlights Quarter ended 31st March 2018

    Power Finance Corporation Limited A Navratna PSU Performance Highlights Quarter ended 31st March 2018 Funding for a Brighter Tomorrow….

  2. Slide 2: Disclaimers

    Disclaimers  The presentation is prepared based on stand-alone audited financial statements of PFC for quarter ended 31.03.2018  This presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward looking statements. The future involves

  3. Slide 3: Power Sector Outlook

    Power Sector Outlook 3

  4. Slide 4: Demand Potential

    Demand Potential India Peak Power Demand to jump three-fold by 2036-37 Electricity Demand Outlook Sustained Growth in Peak Demand Electrification of Villages – 100% electrification achieved in April 448 2018 370 Last mile connectivity to households under SAUBHAGYA – 299 4 crore households to be Dema

  5. Slide 5: Schemes for resolution of Stress – 2500 MW Power Procurement Scheme

    Schemes for resolution of Stress – 2500 MW Power Procurement Scheme 2500 MW Power Procurement scheme introduced by Government of India on 10th Objective April 2018 with the aim to resolve PPA issues To facilitate procurement of 2500 MW Power :  On Competitive Bidding Basis Scheme Brief  For 3 year

  6. Slide 6: Schemes for resolution of Stress – SHAKTI

    Schemes for resolution of Stress – SHAKTI SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) Objective introduced by Government of India on 17th May 2017 to resolve lack of coal linkages State/Central Gencos and their JVs to get coal linkages as per MoP recommendations – lin

  7. Slide 7: PFC’s Performance Highlights

    PFC’s Performance Highlights 7

  8. Slide 8: Highlights

    Highlights SNAPSHOT - As on 31.03.2018 Amt -Rs. Crore 12M FY18 vs. 12M FY17 Profit & Loss - Highlights 12M’18 Q4’18 PAT 5,855 936 Rs.64,414 cr. Interest Income 26,205 6,121 Rs.2,78,915 cr. Interest Expense 16,857 4,218 Net Interest Income 9,348 1,903 LOAN DISBURSEMENT 3% Net Interest Margin on Earni

  9. Slide 9: Highlights

    Highlights 79% drop in Government Sector NPA Assets - Rs.24,031 cr. in FY 16-17 to Rs.5,016 cr. in FY 17-18 47% drop in Government Sector Restructured Assets - Rs.35,995 cr. in FY 16-17 to Rs. 19,167 cr. in FY 17-18 115% increase in outstanding foreign currency raisings - USD 1,302 mn in FY 16-17 to

  10. Slide 10: Financial Performance

    Financial Performance 10

  11. Slide 11: Profit & Loss & Key Ratios

    Profit & Loss & Key Ratios Revenue & Profit Growth (Rs.’crore) Q4 FY 18 Q3 FY 18 Q4 FY 17 FY 18 FY 17 Interest Income 6,121 6,203 5,615 26,205 26,682 Interest Expense (4,218) (4,242) (4,030) (16,857) (16,326) Net Interest Income 1,903 1,961 1,585 9,348 10,357 Operating Costs (40) (62) (53) (362) (35

  12. Slide 12: Balance Sheet & Key Ratios

    Balance Sheet & Key Ratios Balance Sheet Growth (Rs.’crore) FY 18 FY 17 Assets 2,86,465 2,58,461 Loan Assets (Net) 2,72,812 2,40,169 Investments 2,336 3,591 Fixed & Other Assets 11,317 14,701 Liabilities 2,86,465 2,58,461 Shareholder Funds 39,861 36,470 Borrowings 2,29,538 2,02,588 Provisions (other

  13. Slide 13: Operational Performance

    Operational Performance 13

  14. Slide 14: Sanctions - Composition

    Sanctions - Composition (Rs.’crore) Q4 FY 18 Q4 FY 17 FY 18 FY 17 Amt. % Amt. % Amt. % Amt. % Sanctions 45,712 100% 27,236 100% 1,16,233 100% 100,603 100% Scheme Wise Generation 19,188 42% 10,145 37% 59,083 51% 45,294 45% Transmission 4,353 10% 9,180 34% 12,735 11% 17,166 17% Distribution 16,511 36%

  15. Slide 15: Sanctions - Outstanding Sanctions as at 31.03.2018

    Sanctions - Outstanding Sanctions as at 31.03.2018 (Rs.’crore) O/S Sanctions where Particulars Doc. Executed & Doc. Executed but Doc. Not Executed Total Outstanding Disb. Commenced Disb. not Sanctions Commenced Outstanding Sanctions 90,032 32,248 23,943 1,46,222 Scheme Wise Generation 55,923 18,241

  16. Slide 16: Disbursements - Composition

    Disbursements - Composition (Rs.’crore) Q4 FY 18 Q4 FY 17 FY 18 FY 17 Amt. % Amt. % Amt. % Amt. % Disbursements 26,852 100% 28,383 100% 64,414 100% 62,798 100% Scheme Wise Generation 15,652 58% 10,814 38% 36,956 57% 29,267 47% Transmission 1,970 7% 1,345 5% 4,436 7% 3,905 6% Distribution 5,960 22% 1

  17. Slide 17: Loan Assets - Composition

    Loan Assets - Composition (Rs.’crore) As on 31.03.2018 31.03.2017 Amt. % Amt. % Gross Loan Assets 2,78,915 100% 245,525 100% Scheme Wise Generation 2,03,410 73% 1,86,878 76% Transmission 19,646 7% 16,907 7% Distribution 29,997 11% 20,092 8% Others 25,861 9% 21,648 9% Sector Wise State Sector 1,82,06

  18. Slide 18: Loan Quality & Provisions - NPA Status

    Loan Quality & Provisions - NPA Status (Rs.’crore) 31.03.2018 31.12.2017 31.03.2017 % of Gross % of Gross % of Gross Amt. Amt. Amt. Loan Assets Loan Assets Loan Assets Gross NPAs 26,703 9.57% 14,977 5.71% 30,702 12.50% a) State Sector 5,016 1.80% 6,287 2.40% 24,031 9.79% b) Private Sector 21,687 7.7

  19. Slide 19: Loan Quality & Provisions - Restructured Standard Loan Assets

    Loan Quality & Provisions - Restructured Standard Loan Assets (Rs.’crore) Particulars 31.03.2018 31.12.2017 31.03.2017 Restructured Loan assets 24,105 56,636 55,441 State sector 19,167 40,852 35,995 Private Sector 4,938 15,784 19,446 Provisions on Restructured Standard Loan Assets 1,404 3,152 2,356

  20. Slide 20: Loan Quality & Provisions - Provisioning Status

    Loan Quality & Provisions - Provisioning Status (Rs.’crore) Provisioning on Loan Assets Loan Assets Particulars (as on 31.03.2018) 31.03.2018 31.12.2017 31.03.2017 Provision against Standard assets 2,28,107 1,338 1,333 558 Provision against Restructured Standard assets 24,105 1,404 3,152 2,356 Provi

  21. Slide 21: Loan Quality Snapshot - Total Portfolio

    Loan Quality Snapshot - Total Portfolio No Stress – Loan book of Rs.2,78,915 cr. as on 31.03.2018 Regular in Servicing Standard Government Sector Rs.20,053 cr. 82% Rs. 2,28,114 cr. Private Sector 18% No Stress – Rs.50,801 cr. Regular in Stressed Servicing Rs.30,748 cr. 89% of the Loan Assets are reg

  22. Slide 22: Loan Quality Snapshot – Government Sector as on 31.03.2018

    Loan Quality Snapshot – Government Sector as on 31.03.2018  Developments in Q4’18 – Govt. Portfolio  Status of Restructured Standard Assets o Decrease in Restructured Assets by 53% from Q3’18 – from Govt. Loans – 89% Standard Asset Rs.40,852 to Rs.19,167 cr. o During Q4, loans worth Rs. 21,963 cr.

  23. Slide 23: Loan Quality Snapshot – Private Sector – Provisioning status

    Loan Quality Snapshot – Private Sector as on 31.03.2018 – Provisioning status (Rs.’crore) 28 Pvt. Sector projects in Stress with outstanding Stressed Assets - Provisioning Status of Rs.30,748 cr. Restructured As on Standard 31.03.2018 16% NPA Rs.4,938 cr. 71% 1) Provision on Restructured Standard 44

  24. Slide 24: Applicability of RBI Circular dated 12.02.2018 on Resolution of Stressed Assets

    Applicability of RBI Circular dated 12.02.2018 on Resolution of Stressed Assets RBI on 12.02.2018 introduced a revised framework for Resolution of Stressed Assets This circular has been issued for Banks and is not applicable on NBFCs. Therefore, this circular is not applicable on PFC. In the circula

  25. Slide 25: Private Sector – Resolution Status (NCLT)

    Loan Quality Snapshot – Private Sector – Resolution Status as on Date  Status of projects being resolved through NCLT – ALL projects belong to NPA category Outstanding % of Amt as on Capacity Provisioning as Provisioning Particulars 31.03.2018 COD Status on 31.03.2018 (In MW) made as on (in Rs.cr)

  26. Slide 26: Private Sector – Resolution Status (Change in Management)

    Loan Quality Snapshot – Private Sector – Resolution Status as on Date  Status of projects being resolved through other than IBC O/s as on Capacity Particulars 31.03.2018 Resolution Status COD Status FSA PPA (In MW) (in Rs.cr) A. Change in Management – Outside IBC 1. KSK Mahanadi Power 3,300 3,600 1

  27. Slide 27: Private Sector – Resolution Plan being finalised

    Loan Quality Snapshot – Private Sector – Resolution Status as on Date  Status of projects being resolved through other than IBC O/s as on Capacity Particulars 31.03.2018 Resolution Status COD Status FSA PPA (In MW) (in Rs.cr) B. Resolution Plan being finalised – Outside IBC 1(a) RKM PowerGen (Phase

  28. Slide 28: Private Sector – Resolution Plan under implementation

    Loan Quality Snapshot – Private Sector – Resolution Status as on Date  Status of projects being resolved through other than IBC O/s as on PPA Capacity Particulars 31.03.2018 Resolution Status COD Status FSA (in MW) (In MW) (in Rs.cr) C. Resolution Plan under implementation– Outside IBC 1.GVK Ratle

  29. Slide 29: Borrowing Profile

    Borrowing Profile (Rs.’crore) Borrowings 31.03.2018 31.03.2017 Amt. % Amt. % Bonds 1,96,436 86% 190,911 94% Term Loans 26,178 11% 9,277 5% Short Term Loans 6,925 3% 2,401 1% Total 2,29,538 100% 202,588 100% of which: Rupee Denominated 2,11,278 92% 194,144 96% Foreign Currency Loans 18,260 8% 8,444 4

  30. Slide 30: Shareholding Pattern

    Shareholding Pattern (Holding %) Particulars 31.03.2018 31.03.2017 President of India 65.92% 66.35% FIIs & FPIs 14.00% 15.51% Indian FIs & Banks 7.06% 9.51% Bodies Corporate 1.29% 1.44% Resident Individuals 4.87% 3.19% Mutual Funds 6.01% 3.25% Employees 0.05% 0.06% Others 0.81% 0.70% Total 100% 100%

  31. Slide 31: Contact Us

    Contact Us Investor Relations Cell PFC aims to connect with the current and prospective investors and build a strong and enduring positive relationship with the investment community. For this, PFC has a dedicated Investor Relations Cell to provide information to investors on companies’ performance.

  32. Slide 32: Thank You!

    Thank You! 32 Funding for a Brighter Tomorrow….

Power Finance — Q4 FY2018 Earnings Presentation on 6ix