PTC Fin Service

By Research Desk
about 11 years ago
PTC Fin Service

 

PTC India Financial Services is doing very well today morning on the back of its encouraging numbers for Q4Fy14 and FY14. The stock has hit a new 52-week high today at Rs.19.50 and it continues to remain around the same levels.

This 60% subsidiary of India’s largest power trader PTC India, for Q4 reported a NIM of Rs.65 crore, up 56% (YoY) with a whopping 91% jump up in net profit at Rs.46 crore. NIM has also come in pretty healthy at 6.91% v/s 4.49%. The most enthusing part of the numbers was the ‘nil’ NPA, with a total outstanding assets growth at 4974 crore, up 117%. Gross NPA was also negligible at 0.09% v/s 0.15% in Q3.

The company ended FY14 with a 39% jump in NII at Rs.213 crore and a 99% jump in net profit at Rs.208 crore. NIM for the year was at 6.92% v/s 4.57%. The company's disbursements during FY14 stood at Rs. 3,071 crore, up 130%. Total debt sanctioned stood at Rs. 10,303 crore as of March 31.

The infra financing company, lending both debt as well as equity, clocked RoA (not annualized) of 3.84% for FY14 v/s 3.59% in FY13. As of 31st March 2014, its capital adequacy ratio is 25.23%, down from 42.01% as of 31st March 2013.

The market is also pretty upbeat about its decision to set up an Asset Management Company (AMC), which will launch a PE fund with a corpus of Rs.250-300 crore and will be a subsidiary of PFS. The proposed private equity fund will put in seed money in various energy companies. 20% of the initial corpus of the proposed PF fund will come from PFS and its promoter company PTC India Limited put together.

40.74 (+0.37)

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