PTC India Financial Services FY26 Results: Net profit up 47% YoY to ₹319.36 crore
- Net profit after tax rose 47.14% YoY to ₹319.36 crore in FY2025-26, driven by a reversal in impairment costs of ₹(151.03) crore
- Total income declined 18.77% to ₹518.25 crore, while finance costs fell 30.08% to ₹224.49 crore
- Gross Stage III loans fell sharply from ₹711 crore to ₹190.03 crore; net NPAs declined from ₹117 crore to ₹46.98 crore
- Disbursements grew approximately 35% to ₹1,235 crore; Capital Adequacy Ratio improved to 66.63% from 59.65%
- No dividend recommended for FY2025-26; 20th AGM scheduled for September 24, 2026
*this image is generated using AI for illustrative purposes only.
PTC India Financial Services posted a net profit after tax of ₹319.36 crore for FY2025-26, a 47.14% jump from ₹217.05 crore in FY2024-25, driven primarily by a sharp reduction in impairment costs on its loan portfolio.
Financial Performance Overview
Total income declined 18.77% to ₹518.25 crore in FY2025-26 from ₹638.00 crore in FY2024-25, largely reflecting a contraction in the loan book. However, finance costs fell 30.08% to ₹224.49 crore from ₹321.06 crore, significantly cushioning the revenue decline. Total comprehensive income rose 48.41% to ₹319.70 crore from ₹215.42 crore.
The following table summarises the key financial highlights on both standalone and consolidated basis:
| Particulars | FY2025-26 (₹ crore) | FY2024-25 (₹ crore) |
|---|---|---|
| Total Income | 518.25 | 638.00 |
| EBITDA | 621.62 | 606.14 |
| Finance Charges | 224.49 | 321.06 |
| Depreciation and Amortisation | 7.43 | 6.56 |
| Provision for Income Tax | 70.34 | 61.47 |
| Net Profit After Tax | 319.36 | 217.05 |
| Other Comprehensive Income/(Loss) | 0.34 | (1.63) |
| Total Comprehensive Income | 319.70 | 215.42 |
Note: Standalone and consolidated figures are identical as the company has no subsidiaries.
Key Operational Metrics
EBITDA increased 2.55% to ₹621.62 crore from ₹606.14 crore. Other expenses reduced 12.99% to ₹20.90 crore from ₹24.02 crore. Impairment on financial instruments recorded a reversal of ₹(151.03) crore in FY2025-26 compared to ₹(11.06) crore in FY2024-25, which was the primary driver of profit growth.
The spread on the earning portfolio (Stage I and II) declined to 1.33% in FY2025-26 from 1.92% in FY2024-25. The Net Interest Margin on Stage I and II earning assets increased slightly to 4.49% from 4.25% in the previous year.
Profit before tax stood at ₹389.70 crore in FY2025-26 versus ₹278.52 crore in FY2024-25. Basic and diluted earnings per share improved to ₹4.97 from ₹3.38.
Portfolio Quality and Capital Adequacy
Portfolio quality improved significantly during the year. Gross Stage III loans decreased from ₹711 crore in FY2024-25 to ₹190.03 crore in FY2025-26. Net NPAs declined from ₹117 crore to ₹46.98 crore. No new NPAs were reported in FY2025-26.
Disbursements rose to ₹1,235 crore in FY2025-26 from ₹916 crore in FY2024-25, a growth of approximately 35%.
The Debt/Equity ratio improved to 0.57 from 1.03 in FY2024-25. The Capital Adequacy Ratio stood at 66.63% as on March 31, 2026, compared to 59.65% as on March 31, 2025. Net Owned Funds aggregated to ₹2,789.89 crore and total Capital Funds to ₹2,803.80 crore as at March 31, 2026.
| Ratio | FY2025-26 | FY2024-25 | Change |
|---|---|---|---|
| Debt Equity Ratio | 0.57 | 1.03 | -44.76% |
| Operating Profit Margin | 75.02% | 43.24% | +73.50% |
| Net Profit (₹ crore) | 319.36 | 217.05 | +47.14% |
| Return on Net Worth | 10.95% | 8.20% | +33.49% |
| Capital Adequacy Ratio | 66.63% | 59.65% | +11.71% |
Reserves and Dividend
Out of profits earned during FY2025-26, the company transferred ₹63.87 crore to Statutory Reserve, bringing the cumulative statutory reserve to ₹556.33 crore. The Board of Directors has not recommended any dividend for FY2025-26.
Board and Governance Changes
Several changes occurred in the Board composition during FY2025-26:
- Shri Pankaj Goel ceased as Nominee Director with effect from June 10, 2025
- Shri Sanjeev Kumar was appointed as Director (Operations) with effect from June 10, 2025
- Smt. Seema Bahuguna, Shri Naveen Bhushan Gupta, and Smt. PV Bharathi resigned as Independent Directors with effect from September 26, 2025
- Smt. Mini Ipe was appointed as Independent Director with effect from October 5, 2025
- Smt. Rashmi Verma was appointed as Independent Director with effect from November 24, 2025
- Shri Pikkili Ramana Murthy was appointed as Independent Director with effect from December 19, 2025
Subsequent to the financial year end, Shri Balaji Rangachari resigned as MD&CEO effective June 30, 2026. Shri Rajiv Malhotra was appointed as Additional Director on April 8, 2026 and re-designated as MD&CEO (Addl. Charge) effective July 1, 2026.
Dr. Manoj Kumar Jhawar, Non-Executive Chairman (Nominee of PTC India Limited), retires by rotation at the 20th Annual General Meeting scheduled for September 24, 2026, and is eligible for re-appointment.
AGM and E-Voting Details
The 20th Annual General Meeting is scheduled to be held on Thursday, September 24, 2026 at 12:00 Noon (IST) through Video Conferencing/Other Audio-Visual Means.
| Parameter | Details |
|---|---|
| AGM Date | September 24, 2026 |
| Mode | Video Conferencing/OAVM |
| Cut-off Date for E-Voting | September 17, 2026 |
| E-Voting Start | September 21, 2026 at 9:00 AM |
| E-Voting End | September 23, 2026 at 5:00 PM |
CSR and Other Disclosures
Against a CSR obligation of ₹507.14 lakh for FY2025-26, the company spent ₹186.38 lakh. An amount of ₹319.49 lakh was transferred to the Unspent CSR Account for ongoing projects, and ₹1.27 lakh was transferred to the Clean Ganga Fund.
During FY2025-26, the company transferred 64,630 equity shares and ₹2,86,323 as unclaimed dividend to the IEPF Authority. Interest expenditure in foreign currency stood at ₹0.38 crore, down from ₹2.31 crore in the previous year, while foreign currency borrowing repayments totalled ₹12.54 crore compared to ₹16.72 crore in the previous year.
As of March 31, 2026, the company's infrastructure loan exposure was approximately 56.83% of total assets, below the 75% minimum threshold prescribed for NBFC-IFC classification. The company has obtained an extension from the RBI until September 30, 2026 to achieve compliance.
Historical Stock Returns for PTC India Financial Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.33% | -0.78% | -5.03% | -10.90% | -29.90% | +67.94% |
How will the leadership transition from Balaji Rangachari to Rajiv Malhotra impact PTC India Financial Services' strategic direction and operational stability in the short term?
Given the RBI extension until September 2026, what specific strategies is the company deploying to ensure its infrastructure loan exposure meets the 75% NBFC-IFC threshold before the deadline?
With total income declining by 18.77% despite profit growth, what is the company's roadmap for reversing the contraction in its loan book and driving top-line revenue growth in FY2027?
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