PTC India Financial Services Limited (PFS) AI Stock Analysis

• Market Cap: ₹20.58B
• Dividend Yield: N/A
• Average Volume (3M): 41.78K
• Price to Earnings (P/E): 6.7
• Beta (1Y): 1.95
• Revenue Growth: -17.15%
• EPS Growth: 124.47%
• Country: IN
• Employees: 46
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Credit Services
• EPS (TTM): 0.76
• Shares Outstanding: 642,283,300
• 10 Day Avg. Volume: 32,916
• 30 Day Avg. Volume: 41,777
• PEG Ratio: 0.27
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 3.75
• P/FCF Ratio: 1.83
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: ₹35.00 ▲(7.43% Upside)

PTC India Financial Services Limited's overall stock score is driven by its stable financial performance and attractive valuation. The company demonstrates strong operational efficiency and cash flow management, but faces challenges in revenue growth and high leverage. Technical indicators suggest a neutral market position, with no strong momentum. The stock's low P/E ratio indicates potential undervaluation, enhancing its attractiveness despite the lack of a dividend yield.

Positive Factors

Strong cash generation

A strong free cash flow to net income ratio and favorable operating cash flow to net income indicate durable internal funding ability. This supports loan originations, servicing of infrastructure projects, capital cushions and provisioning without relying solely on external markets over the medium term.

Efficient operating margins

High EBIT/EBITDA and healthy net margins reflect operational efficiency in lending and project finance activities. Sustained margins support profitability through credit cycles, enable reinvestment into underwriting capabilities, and improve the firm's capacity to absorb credit costs and maintain return targets.

Niche market position in power/infrastructure

Specialization in power and infrastructure, plus advisory and project finance capabilities, creates structural competitive advantage. Deep sector focus and strategic government/private partnerships drive deal flow, domain expertise and higher barriers to entry versus generalist lenders over the medium term.

Negative Factors

Declining revenue trend

A significant negative revenue growth rate points to shrinking top-line activity or lower disbursements. Persistent revenue decline undermines the scale needed to absorb fixed costs, limits provisioning capacity, and pressures long-term earnings quality and the ability to expand the loan book sustainably.

Elevated leverage despite improvement

Although leverage metrics have improved, a still-relatively-high debt load increases sensitivity to interest rates and refinancing risk for a lender focused on long-duration infrastructure loans. High leverage can constrain new originations and requires sustained cash generation to de-risk the balance sheet.

Inconsistent free cash flow growth

Volatile free cash flow growth complicates long-term planning for capital allocation, deleveraging and dividend policy. For a project-finance-focused lender, inconsistent FCF increases vulnerability to funding stress and limits predictability of internal capital for new transactions or buffers against credit shocks.

PTC India Financial Services Limited Business Overview & Revenue Model

Company Description

PTC India Financial Services Limited, a non-banking finance company, provides various financing solutions. It offers fund based/non-fund based financial assistance in the form of debt or structured debt instruments, such as term debt or project debt, corporate debt, bridge debt, and bills discounting, as well as letters of comfort, credit enhancement schemes, and deferred payment guarantees. The company also acts as underwriter, lead FI, syndicator, security and facility agent, project appraiser, and DPR consultant/preparer. In addition, it invests in green-field and brown-field projects. The company was incorporated in 2006 and is based in New Delhi, India. PTC India Financial Services Limited is a subsidiary of PTC India Limited.

How the Company Makes Money

PTC India Financial Services Limited generates revenue through various key streams. The primary source of income comes from interest and fees associated with the loans and financing it provides to clients in the power and infrastructure sectors. The company earns interest on the principal amounts disbursed, which is complemented by processing fees and advisory fees charged for its financial services. Additionally, PFS may also generate revenue through investments in financial instruments related to its core business. Strategic partnerships with government entities and private developers further enhance its revenue potential, as they enable PFS to tap into large-scale projects and provide tailored financial solutions that meet the specific needs of its clients.

PTC India Financial Services Limited Financial Statement Overview

Summary

PTC India Financial Services Limited exhibits stable financial performance with strong operational efficiency and cash flow management. However, challenges in revenue growth and high leverage need to be addressed to ensure long-term financial health.

Income Statement

PTC India Financial Services Limited has shown a mixed performance in its income statement. The company has a strong EBIT and EBITDA margin, indicating efficient operations. However, the revenue growth rate has been negative in recent years, which is a concern. The net profit margin is healthy, but the declining revenue trend needs to be addressed to sustain profitability.

Balance Sheet

The balance sheet reveals a moderate financial position. The debt-to-equity ratio has improved over the years, indicating better leverage management, but it remains relatively high. Return on equity is modest, reflecting average profitability. The equity ratio suggests a balanced asset structure, but the company should focus on reducing debt levels further to enhance financial stability.

Cash Flow

Cash flow analysis shows a strong free cash flow to net income ratio, indicating good cash generation relative to earnings. The operating cash flow to net income ratio is also favorable. However, the free cash flow growth rate has been inconsistent, with significant fluctuations over the years. Overall, the company demonstrates solid cash flow management, but consistency in growth is needed.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.34B	5.54B	7.04B	7.49B	9.28B	11.12B
Gross Profit	2.19B	2.17B	2.76B	2.98B	3.34B	3.55B
EBITDA	3.73B	2.87B	2.24B	2.39B	1.81B	1.07B
Net Income	3.09B	2.17B	1.61B	1.76B	1.30B	256.03M
Balance Sheet
Total Assets	0.00	56.83B	65.25B	76.34B	95.16B	115.32B
Cash, Cash Equivalents and Short-Term Investments	0.00	12.97B	15.05B	5.90B	11.76B	8.59B
Total Debt	0.00	28.61B	39.26B	51.22B	71.21B	91.74B
Total Liabilities	-27.54B	29.28B	39.86B	51.92B	72.52B	94.13B
Stockholders Equity	27.54B	27.54B	25.39B	24.43B	22.64B	21.20B
Cash Flow
Free Cash Flow	0.00	11.36B	25.62B	18.87B	27.20B	13.11B
Operating Cash Flow	0.00	11.39B	25.63B	18.87B	27.21B	13.11B
Investing Cash Flow	0.00	7.76B	-6.89B	2.59B	-1.54B	-1.62B
Financing Cash Flow	0.00	-13.83B	-16.69B	-24.59B	-27.19B	-8.83B

PTC India Financial Services Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 32.58
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PFS, the sentiment is Positive. The current price of 32.58 is above the 20-day moving average (MA) of 32.46, below the 50-day MA of 33.05, and below the 200-day MA of 36.52, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 58.80 is Neutral, neither overbought nor oversold. The STOCH value of 62.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:PFS.

PTC India Financial Services Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
TFCILTD	66 Neutral	₹29.60B	24.34	―	0.92%	5.73%	12.29%
PFS	66 Neutral	₹20.58B	6.69	―	―	-17.15%	124.47%
PAISALO	65 Neutral	₹30.69B	14.66	―	0.29%	11.75%	-6.52%
UGROCAP	53 Neutral	₹20.83B	9.91	―	―	33.99%	11.65%
ESAFSFB	52 Neutral	₹14.45B	-3.87	―	2.64%	-8.71%	-2192.08%
SPANDANA	48 Neutral	₹21.98B	-1.65	―	―	-45.13%	-1646.01%

PTC India Financial Services Limited Corporate Events

PTC India Financial Services Files Q3 FY26 Earnings Call Transcript with Exchanges

PTC India Financial Services Limited has submitted to the stock exchanges the transcript of its investor conference call held on January 21, 2026, discussing the company’s financial results for the quarter and nine months ended December 31, 2025. The transcript, now also available on the company’s website, enhances disclosure for investors and analysts by providing detailed management commentary on recent performance and outlook, underscoring the company’s adherence to regulatory requirements and its emphasis on transparent communication with stakeholders.

PTC India Financial Services Boosts Lending and Cleans Up Loan Book in Q3 FY26

PTC India Financial Services reported a sharp expansion in business activity for the quarter ended 31 December 2025, with Q3 FY26 loan disbursements doubling year-on-year to ₹609 crore and loan sanctions jumping more than fourfold to ₹1,188 crore, while maintaining total income at ₹125 crore and posting a profit after tax of ₹49 crore. For the first nine months of FY26, the lender saw strong growth in sanctions to ₹2,442 crore and higher disbursements of ₹1,073 crore, alongside a marked improvement in profitability metrics and asset quality, including a 74% reduction in gross Stage III assets to ₹193 crore and an 83% drop in net Stage III assets to ₹47 crore, signaling a cleaner balance sheet and stronger return profile despite lower total income versus the previous year.

PTC India Financial Services Releases Q3 FY2025 Investor Presentation

PTC India Financial Services Limited has released an investor presentation detailing its unaudited financial results for the quarter and nine months ended 31 December 2025, in line with disclosure requirements under SEBI’s Listing Regulations. The presentation, which will also be used in a scheduled group meeting with analysts and investors on 21 January 2026, has been filed with the stock exchanges and made available on the company’s website, underscoring its ongoing engagement with capital market participants and commitment to transparency in financial reporting.

PTC India Financial Services Shareholders Clear Appointments of Two Independent Directors

PTC India Financial Services Limited has announced that its shareholders have approved, via postal ballot and e-voting, the appointments of Smt. Mini Ipe and Smt. Rashmi Verma as Independent Directors, with both special resolutions passed by an overwhelming majority. The strong voting support across promoter, institutional, and non-institutional categories underlines broad investor confidence in the company’s refreshed board composition, which could strengthen corporate governance and strategic oversight as the lender continues to navigate India’s evolving energy and infrastructure financing landscape.

PTC India Financial Services Completes Postal Ballot Dispatch

PTC India Financial Services Limited announced the completion of dispatching a notice of Postal Ballot, as published in Business Standard in both English and Hindi. This announcement informs stakeholders about the remote e-voting process and related information, which is crucial for maintaining transparency and engagement with shareholders.

PTC India Financial Services Strengthens Board with New Appointments

PTC India Financial Services Limited announced the appointment of Smt. Rashmi Verma as an Additional Director in the capacity of Independent Director for a three-year term, subject to shareholder approval. The company is also seeking shareholder approval via postal ballot for the appointment of Smt. Mini Ipe as a Non-Executive Independent Director. These appointments are expected to strengthen the company’s governance and strategic direction, potentially enhancing its market positioning and operational effectiveness.

PTC India Financial Services Appoints Rashmi Verma as Independent Director

PTC India Financial Services Limited has announced the appointment of Mrs. Rashmi Verma as a Non-Executive Independent Director, effective November 24, 2025. Mrs. Verma brings extensive experience from her career as an IAS officer, having held significant positions in the tourism and textiles sectors, as well as expertise in GST and financial regulation. This strategic appointment is part of the company’s efforts to strengthen its board with experienced leadership, potentially enhancing its governance and strategic direction.