Who are Power Finance's main competitors?

Named competitors: REC Limited (RECLTD.NS), IREDA (private or unlisted), State Bank of India (SBIN.NS). The cockpit's measured peer set (industry) also includes Ally Financial (ALLY), Indian Railway Finance (IRFC.NS), Mitsubishi HC Capital (8593.T), Muthoot Finance (MUTHOOTFIN.NS), One 97 Communications (PAYTM.NS), Ayvens (AYV.PA).

Is Power Finance expensive compared with its peers?

On price / book it trades at 0.76× against a peer median of 1.88×, 2nd cheapest of 21 in its peer set.

How has Power Finance stock performed?

Over six months to 6 Nov 2026 the shares returned -28.1% against -5.9% for the median peer; over one year -18.8%.

← CockpitCompetitor Analysis › PFC.NS Power Finance CorporationOpen in the cockpit ↗

Power Finance CorporationPFC.NSCompetitor analysis, valuation and peers

India · INR·Financials›Finance/Rental/Leasing

State-owned Indian non-bank lender providing long-term financing to power generation, transmission and distribution projects.

≈ A state-owned US infrastructure/project finance lenderMomentum laggard 14

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$11.5B

US dollars, full cap

Free float

44%

of shares outstanding

$/day

$30.4M

20-day average traded

P/B

0.76×

price to book

ROE

20.7%

delivered

Implied ROE

14.4%

what the price asks

Next earnings

97 days

11 Feb 2027

Close · INR₹328.80

1D-0.2%

1W+4.8%

1M+1.0%

3M-21.3%

6M-28.1%

YTD-7.5%

1Y-18.8%

ATR %2.5%

Beta1.01

52w lowhigh32.4% off high

What Power Finance does

State-owned Indian non-bank lender providing long-term financing to power generation, transmission and distribution projects.

Earns the gap between interest on its loans and its own borrowing cost, funding itself with bonds and loans rather than deposits as a non-bank lender. Since 2019 it has owned a majority of REC, a similar government power-sector lender, so the two now work as a group. The Government of India is its majority owner.

In one line: A state-owned US infrastructure/project finance lender.

Products and services

Power sector project loans
Renewable energy financing
Infrastructure financing (via REC subsidiary)

Customers

State electricity boards/discoms
Power generation/transmission companies

Where it sits in the supply chain

Financials
Non-bank lending
Power sector project finance - India

What could go right

India's power sector capex growth
Renewable financing mandate growth

What could go wrong

Asset-quality risk from stressed state discoms
Interest rate/funding cost sensitivity

Moat: narrow (regulatory licence, state ownership, scale). State ownership and a dedicated mandate to fund the power sector give a privileged, low-cost funding position.

Headquarters: New Delhi, India · Founded: 1986 · Employees: 777

Named competitors

REC Limited RECLTD.NS
IREDA private or unlisted
State Bank of India SBIN.NS

Power Finance at a glance

Size Power Finance (PFC.NS) is an India Financials company (Finance/Rental/Leasing) with a market value of $11.5B, the 105th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹328.80 on 6 Nov 2026.

Performance Over six months the shares fell 28.1%, against -5.9% for the median peer and 0.0% for the India market (cap-weighted) — lowest of 21 in its peer set.

Growth Revenue grew 3.5% over the last twelve months (peer median +15.8%); the operating margin is 52.4% (peer median 31.5%).

Valuation It trades at 0.76× book value against a peer median of 1.88× (2nd cheapest of 21).

Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Power Finance against the median of its 20 peers (local-currency closes).

Power Finance financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹1.13T	₹1.07T	₹1.03T	₹910B	₹748B
Revenue growth	—	+4%	+14%	+22%	—
Gross profit	₹585B	₹1.06T	₹1.03T	₹882B	₹720B
EBITDA	₹576B	₹1.05T	₹1.02T	₹880B	₹712B
Net income	₹260B	₹259B	₹230B	₹198B	₹159B
Free cash flow	n/a	₹551B	₹313B	₹359B	₹258B
Capital expenditure	n/a	₹3.37B	₹8.40B	₹3.23B	₹1.23B
Total debt	₹10.0T	₹10.1T	₹9.72T	₹8.62T	₹7.51T

Quarterly statements and history in the cockpit →

Power Finance competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Power Finance is the large dot.

Fundamentals: return on equity against price-to-book

A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Power Finance is the large dot.

Power Finance competitors and peer comparison

Head to head with its named competitors (PFC.NS vs RECLTD.NS vs SBIN.NS)
Company	Market cap	6M return	Revenue growth	ROE	Price / book	Implied ROE
Power Finance PFC.NS	$11.5B	-28%	+4%	21%	0.76×	14.4%
REC RECLTD.NS	$8.27B	-18%	-3%	17%	0.83×	15.1%
State Bank of India SBIN.NS	$99.5B	-7%	+6%	15%	1.40×	20.7%

How Power Finance compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Power Finance against its 20 peers (data as of 6 Nov 2026)
Measure	PFC.NS	Peer median	Rank in peer set
1-month return	+1.0%	+4.4%	9th lowest of 21
6-month return	-28.1%	-5.9%	lowest of 21
Return on equity	20.7%	12.5%	4th highest of 21
Price / book	0.76×	1.88×	2nd cheapest of 21
Trailing P/E	4.2×	14.0×	cheapest of 21
ROE the price implies	14.4%	19.2%	9th least demanding of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	ROE	Price / book	Implied ROE	Delivered ROE
Power Finance PFC.NS	India	$11.5B	-28%	+4%	21%	0.76×	14.4%	n/a
Ally Financial ALLY	United States	$11.5B	-14%	+5%	10%	0.88×	9.8%	9.9%
Indian Railway Finance IRFC.NS	India	$11.1B	-25%	+13%	13%	1.74×	28.2%	12.6%
Mitsubishi HC Capital 8593.T	Japan	$11.9B	-9%	+1%	7%	0.93×	5.9%	7.2%
Muthoot Finance MUTHOOTFIN.NS	India	$12.2B	-20%	+47%	32%	2.62×	32.0%	31.8%
One 97 Communications PAYTM.NS	India	$12.2B	+50%	+24%	5%	6.92×	47.0%	5.4%
Ayvens AYV.PA	France	$8.45B	-16%	0%	9%	0.68×	8.0%	9.2%
REC RECLTD.NS	India	$8.27B	-18%	-3%	17%	0.83×	15.1%	17.0%
Tata Capital TATACAP.NS	India	$16.0B	+10%	+18%	14%	3.08×	41.2%	14.0%
Cholamandalam Investment and Finance CHOLAFIN.NS	India	$16.2B	+6%	+21%	21%	4.43×	67.7%	20.6%
FirstCash FCFS	United States	$7.96B	-18%	+23%	18%	3.50×	19.9%	18.2%
Tokyo Century 8439.T	Japan	$7.50B	+12%	+8%	12%	1.01×	7.7%	11.6%
Kaspi.kz Joint Stock Company Sponsored ADR RegS KSPI	United States	$17.7B	+7%	+39%	45%	3.15×	13.6%	45.4%
L&T Finance LTF.NS	India	$7.36B	-9%	+17%	12%	2.38×	45.8%	12.3%
Piramal Finance PIRAMALFIN.NS	India	$7.17B	+13%	+71%	7%	1.58×	13.0%	6.5%
BOC Aviation 2588.HK	Hong Kong	$7.09B	-3%	-2%	12%	1.01×	6.2%	11.8%
Bajaj Housing Finance BAJAJHFL.NS	India	$7.05B	-9%	+17%	12%	2.77×	41.1%	12.4%
Jiangsu Financial Leasing 600901.SS	China	$6.66B	+12%	+14%	13%	1.67×	5.9%	13.5%
OneMain OMF	United States	$6.42B	0%	+6%	23%	1.90×	18.5%	22.7%
SOFI SOFI	United States	$21.0B	+3%	+38%	7%	1.86×	27.5%	7.4%
SBI Cards & Payment Services SBICARD.NS	India	$5.89B	-10%	+6%	16%	3.24×	40.7%	16.3%

Questions

Who are Power Finance's main competitors?: Named competitors: REC Limited (RECLTD.NS), IREDA (private or unlisted), State Bank of India (SBIN.NS). The cockpit's measured peer set (industry) also includes Ally Financial (ALLY), Indian Railway Finance (IRFC.NS), Mitsubishi HC Capital (8593.T), Muthoot Finance (MUTHOOTFIN.NS), One 97 Communications (PAYTM.NS), Ayvens (AYV.PA).
Is Power Finance expensive compared with its peers?: On price / book it trades at 0.76× against a peer median of 1.88×, 2nd cheapest of 21 in its peer set.
How has Power Finance stock performed?: Over six months to 6 Nov 2026 the shares returned -28.1% against -5.9% for the median peer; over one year -18.8%.