Operates as a non-banking financial company (NBFC) that lends to private corporate borrowers for infrastructure projects under sole, multiple, and consortium lending structures. In FY26, sanctions reached ₹3,448 crore — a three-year high and over 300% higher than FY25's ₹825 crore — with disbursements of ₹1,235 crore, 100% of which went to private sector borrowers. Assets under management stood at ₹3,292 crore at year-end after ₹1,105 crore of low-yield accounts were prepaid; by Q1 FY27, loan assets had declined further to ₹2,946 crore. The lending book is broadening from traditional infrastructure into data centres, compressed biogas (CBG) ecosystems, and structured finance. Asset quality improved sharply in FY26, with Gross Stage III assets down 73% to ₹190 crore and Net NPA at 1.49% (₹47 crore), supported by a 75% provision coverage ratio on Stage III. The cost base is dominated by employees and other operating expenses at 4.5% and 4.1% of revenue respectively, with materials at 0% — the key input cost being the cost of borrowed funds, with PFS's benchmark rate cut by 60 bps during the year. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Infrastructure lending, Diversified lending (data centres, CBG, structured finance). Balance-sheet NBFC infrastructure lender shifting from consortium to sole/multiple lending with quality-first approach
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 953 | 791 | 761 | 633 | 515 |
| EBITDA (ex other income) | 744 | 664 | 617 | 602 | 618 |
| margin % | 78.1 | 84.0 | 81.1 | 95.0 | 120.1 |
| Owners' profit | 130 | 176 | 161 | 217 | 0 |
| EPS, as reported (₹) | 2.02 | 2.74 | 2.50 | 3.38 | 4.97 |
| ROE % · ROCE % | 5.7 · — | 7.2 · — | 6.3 · — | 7.9 · — | 10.4 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 2,721 | 1,887 | 2,563 | 1,139 | 1,780 |
| Capex | (1) | (0) | (1) | (3) | (0) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 163 | 158 | 151 | 142 | 132 | 122 | 119 | 103 |
| Profit before tax | 63 | 81 | 75 | 146 | 118 | 64 | 62 | 54 |
| Net profit | 47 | 67 | 58 | 137 | 88 | 49 | 46 | 40 |
| EPS (₹) | 0.74 | 1.05 | 0.91 | 2.13 | 1.37 | 0.76 | 0.71 | 0.63 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,43,552 | 31.7 | 5.50 | 11.6 | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 2,42,019 | 18.1 | 3.67 | 6.7 | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,57,446 | 27.2 | 5.17 | 6.9 | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,54,110 | 28.2 | 3.27 | 6.5 | 10.4 | — | — | 75.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 25 Aug 2026 · Newspaper advertisement confirming dispatch of 20th AGM Notice | compliance | minimal | — | — |
| 25 Aug 2026 · Newspaper ad regarding 20th AGM notice dispatch | compliance | minimal | — | — |
| 24 Aug 2026 · PFS files FY26 Annual Report; 20th AGM on 24 Sept via video conferencing | compliance | medium | — | — |
| 24 Aug 2026 · Notice of 20th AGM on 24 September 2026 via video conferencing | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Newspaper ad for 20th AGM on September 24, 2026 via video conferencing | compliance | minimal | — | — |
| 20 Aug 2026 · 20th AGM scheduled for 24 September 2026 | board shareholder meetings | low | — | — |
| 3 Aug 2026 · PFS Q1 FY27 call transcript; muted quarter, strong Q2 start | investor communications | medium | — | — |
| 29 Jul 2026 · Link to audio recording of Q1 FY26-27 investors call | investor communications | low | — | — |
| 29 Jul 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 28 Jul 2026 · PFS files Q1 FY27 investor presentation; PAT at Rs 40 Cr | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| MUTHOOT FINANCE LIMITED | 1,12,094 | 9.9 | 2.82 | 3.9 | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 62,349 | 27.4 | 3.96 | — | 13.8 | — | — | 33.1 |
| HDB FINANCIAL SERVICES L | 55,706 | 20.2 | 2.70 | — | 12.3 | — | — | 58.0 |
| SUNDARAM FINANCE LTD | 52,217 | 23.3 | 3.51 | 6.7 | 13.8 | — | — | 78.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.9 | 18.2 | 47 of 212 | 78% |
| P/B | 0.6 | 1.1 | 56 of 245 | 78% |
| ROE | 10.4 | 3.0 | 56 of 266 | 79% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 91.4 | 48.6 | 35 of 249 | 86% |
| Revenue growth | (27.2) | 12.6 | 174 of 231 | 25% |
| Profit growth | (70.5) | 7.8 | 172 of 251 | 32% |
| Market cap | 1760 | 37 | 32 of 260 | 88% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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