Q4/FY’24 Results - 15th May, 2024
Ø Consolidated Financial Highlights
· PFC
Group registered the highest annual Profit After Tax (PAT) with 25% increase - Rs.
21,179 crores in FY’23 to Rs. 26,461 crores in FY’24.
· PFC
Group continues to be the largest NBFC Group in India with total balance sheet
size crossing more than Rs.10 lakh crore in FY’24 – The current balance sheet
size is 10.39 lakh crores.
· 16% growth in consolidated loan asset
book from Rs. 8,57,500 crores as on 31.03.2023 to Rs. 9,90,824 crores as on 31.03.2024
·
Consolidated Net worth (including
non-controlling interest) increased by 20% - Rs. 1,11,981 crores as on
31.03.2023 to Rs. 1,34,289 crores as on 31.03.2024
· The consolidated Gross NPA nearly
touches 3% and is at 3.02% in FY’24 vs. 3.66% in FY’23.
· Owing to active resolution efforts, consolidated
Net NPA has reached its lowest level at 0.85% in FY’24 from 1.03% in FY’23.
Ø Stand Alone Financial Highlights
·
PFC is now the highest profit making NBFC in India, with 24% remarkable
increase registered in Standalone Profit After Tax from Rs. 11,605 crores in FY’23
to Rs. 14,367 crores in FY’24.
·
18% increase registered in Quarterly PAT from Rs. 3,492 crores in
Q4’23 to Rs. 4,135 crores in Q4’24.
· Final
dividend of Rs. 2.50 per share proposed by Board in Q4’24. With this, PFC has
given a total dividend of Rs. 13.50 per share for FY 24.
· Double-digit growth of 14% witnessed in
loan asset book- from Rs. 4,22,498 crores as on 31.03.2023 to Rs.4,81,462
crores as on 31.03.2024.
· Renewable book registered 25% year on
year growth, The renewable loan portfolio has crossed the 60K milestone and is
at Rs.60,208 crores. PFC continues to be the largest renewable lender in India.
· PFC
continues to maintain comfortable capital adequacy levels. CRAR as on 31st
March,2024 is at 25.41%, with Tier 1 capital at 23.18%, well above the
regulatory limit.
· 16% increase
in net worth from Rs. 68,202 crores as on 31.03.2023 to Rs. 79,203 crores as on
31.03.2024.
· The asset
quality has further improved with Net NPA ratio reaching its lowest level in
last 6 years at 0.85% in FY’24 vs. 1.07% in FY’23. No new NPA added in more
than a year. Gross NPA for FY’24 is at 3.34%, a decrease of 57 bps from 3.91%
in FY’23.
Ø Management comments
On
PFC’s performance, Chairperson and Managing Director, Parminder Chopra shared
that PFC Group continues to be the largest NBFC Group in India and is also India's
highest profit making NBFC both on a consolidated and on a stand-alone basis.
PFC
achieved record profits in FY 24. Profit increased by 24% to Rs. 14,367 crores.
This strong performance is backed by a 14% growth in our loan portfolio while
retaining a strong asset quality. Our
Net NPA levels reduced from 1.07% in previous financial year to 0.85%
currently.
Maximizing
shareholder value remains a priority. Today, the final dividend of Rs. 2.50 per
share has been proposed by the Board. With this, the total dividend for FY’24
would be Rs. 13.50 per share.
Beyond
financials, PFC leads India's clean energy push. Our renewable loan portfolio
grew 25% year on year to over Rs. 60,000 crores, solidifying our position as
the leading renewable lender in India.
Looking
ahead, PFC sees exciting growth in power and infrastructure, and is positioned
to be a proactive partner in India's future development.
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