{"id":181651,"date":"2026-04-21T13:08:06","date_gmt":"2026-04-21T17:08:06","guid":{"rendered":"https:\/\/alphastreet.com\/india\/ptc-india-financial-services-ltd-pfs-q3-2026-earnings-call-transcript\/"},"modified":"2026-04-21T13:21:55","modified_gmt":"2026-04-21T17:21:55","slug":"ptc-india-financial-services-ltd-pfs-q3-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/ptc-india-financial-services-ltd-pfs-q3-2026-earnings-call-transcript\/","title":{"rendered":"PTC India Financial Services Ltd (PFS) Q3 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

PTC India Financial Services Ltd (NSE: PFS) Q3 2026 Earnings Call dated Jan. 21, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Priya Chaudhary<\/strong> \u2014 Head Investor Relations<\/em><\/p>\n

R. Balaji<\/strong> \u2014 Managing Director and Chief Executive Officer<\/em><\/p>\n

Sanjeev Kumar<\/strong> \u2014 Whole Time Director, Operations<\/em><\/p>\n

Dilip Srivastava<\/strong> \u2014 Director Finance and Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Simran Sankla<\/strong> \u2014 Analyst<\/em><\/p>\n

J. Suratwala<\/strong> \u2014 Analyst<\/em><\/p>\n

Nishita<\/strong> \u2014 Analyst<\/em><\/p>\n

Kukum Chand Singhar<\/strong> \u2014 Analyst<\/em><\/p>\n

Vishal Mehta<\/strong> \u2014 Analyst<\/em><\/p>\n

Rakesh Srivastava<\/strong> \u2014 Analyst<\/em><\/p>\n

Amey Chheda<\/strong> \u2014 Analyst<\/em><\/p>\n

Vishal Biraia<\/strong> \u2014 Analyst<\/em><\/p>\n

Chana Malu<\/strong> \u2014 Analyst<\/em><\/p>\n

Manoj Pandey<\/strong> \u2014 Analyst<\/em><\/p>\n

Jayant Raghman<\/strong> \u2014 Analyst<\/em><\/p>\n

Chintan Mehta<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good morning and welcome to the Q3FY26 investor conference call hosted by PTC India Financial Services Limited. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal the operator by pressing Star then zero on your touchstone phone. I now hand the conference over to Ms. Priya Chaudhary from PTC Financial.<\/p>\n

Thank you. And over to you Priya.<\/p>\n

Priya Chaudhary<\/strong> \u2014 Head Investor Relations<\/em><\/p>\n

Thank you. Good morning everyone and welcome to Q3FY26 Investor Call for a discussion on third quarter financial results of PTC India Financial Services Limited. I’m Priya Chaudhary, Head Investor Relations at PFS. Now the last quarter marked a clear inflection point for the organization. With the Board and Board committees reconstituted together with a strengthened management team. This has translated into sharper execution and a significant improvement in the business momentum. Some of the key Q3FY26 highlights include disbursements at 609 crores.<\/p>\n

This is a 13 quarter high for the organization. Q3FY26 was higher than H1FY26 disbursements at 464 crores. Additionally, 9 months FY26 disbursements of 1,073 crores exceeds the total disbursement in the whole of last financial year at 916 crores. Our loan sanctions for this quarter stood at 1188 crores. This marks loan sanctions of over 1000 crore plus in two consecutive quarters. 100% of the disbursements were to private sector space. The focus continued on granular approach and expansion in the sunrise and emerging sectors.<\/p>\n

The focus also continued on the asset quality with no further slippages. And this is since financial year 2018. The disbursements that we have done since while the AUM did moderate due to prepayments. However, our underlying portfolio quality, liquidity position and growth visibility remains strong and this augurs well for the organization going forward. I will now introduce the senior management team present in today’s call. Mr. R. Balaji, MD and CEO Mr. Sanjeev Kumar, Director Operations Mr. Dilip Srivastava, Director Finance and CFO and Mr.<\/p>\n

Kallur Srinivas, President Treasury. With this I will now like to hand over the call to our MD and CEO Mr. R. Balaji for his opening remarks and to provide an update on the company.<\/p>\n

R. Balaji<\/strong> \u2014 Managing Director and Chief Executive Officer<\/em><\/p>\n

Thank you Priya and a very good morning to all of you. So last quarter like what Priya said marked an inflection point. Our business is showing renewed momentum. Both sanctions and disbursements are good. Sanjay will talk about it later. But what is more heartening is the fact that we have diversified our engagement and deepened it into all parts of the infrastructure space. Last quarter we did business in new segments of infrastructure which we had either though not done earlier like in oil and gas related to data centers and couple of other areas.<\/p>\n

This with our focused approach on getting more customers is showing visible signs of momentum and we expect this momentum to carry on forward. Close to 18 months back we had three or four issues. One was the governance issues, the legacy issues which we have successfully resolved it. Then we had also addressed the quality front. So the NPAs have come down significantly and today our net NPA is only at 47 crores. Third one is increasing the business traction and if you look into it, what we have disbursed in the first nine months is close to 20% more than what we disbursed in last year and we expect it to double down on disbursements in the fourth quarter.<\/p>\n

The one pressing area for which we will be working forward in the next few months is garnering more liabilities to ensure that our growth aspirations and the growth momentum is sustained. That’s what we would like to do. I’ll be taking your questions later. I’ll leave it to Sanjeev to take you through the business summary.<\/p>\n

Sanjeev Kumar<\/strong> \u2014 Whole Time Director, Operations<\/em><\/p>\n

Thank you Balaji and good morning everyone. I am pleased to share an update on Q3 FY26 performance, ongoing scale up initiatives and the way forward. Importantly, our progress and strategic direction remains fully aligned with what has been consistently communicated over the past two investor calls. Q3FY26 recorded the highest ever quarterly disbursement in the last 13 quarters at 609 crores. Q3 disbursements exceeded cumulative disbursement of the half year FY26 which was at 464 crore rupees and cumulative disbursement for nine months.<\/p>\n

FY 2026 is 1073 crore have already surpassed the total disbursement done in the FY25 which was rupees nine hundred and sixteen crore. This reflects a clear acceleration in the execution momentum. As highlighted in earlier calls, our priority has been on rebuilding the foundation driving growth with prudence, discipline and strategic clarity. While we have earlier guided the disbursements of around 1000 crore for QC FY26 the quarter closed at 609 crore which is consistent with our calibrated approach to execution readiness and credit discipline.<\/p>\n

At the same time, origination momentum remains very strong. We have sanctioned over 1000 crore in two consecutive quarters and have built up a robust pipeline at the various stages of approval and sanction aligned with FY26 disbursements targets. With the Board and Board committees now fully constituted, we remain well positioned to achieve the Rs 2,500 crore disbursement targets for FY26. As we have communicated earlier too, both sanctions and disbursements are on a clear upward trajectory. Q3 FY26 disbursements are at the 13 quarter high and exceeds the half year of FY26 at a cumulative level underscores improving execution velocity.<\/p>\n

We expect this momentum to continue through Q4 Supported by a strong and visible pipeline. Our scale up efforts are being undertaken in a measured and risk calibrated manner. A key focus area has been quality lending with deliberate reduction in average ticket size to build up more diversified lower volatility portfolio and mitigate concentration risk over time. Consistent with our strategy, we continue to have focus on high quality with good margin proposals. A key highlight that more than 50% of our new sanctions and disbursements are in the A or better rated entities reinforcing the steady ramp up in line with our medium term positioning articulated in previous quarters.<\/p>\n

Also, sector diversification remains another important pillar of our growth strategy. We are expanding our presence across renewable energy EVs, CBG and other sunshine sectors like their data center and its value chain while also targeting sectors which are not very popular with existing bigger lenders but have high potential CBG data center connectivity. Oil and natural gases are the area where we have sanctioned loans in this quarter. We are also building momentum in structured financing segment.<\/p>\n

During Q3 we saw meaningful conversion of SME and Fi pipelines also into disbursements with the trend expected to be continued in Q4. We are strengthening our SME division with specialized skill sets and going forward plan to create structured financing solution by leveraging our data bank of over 400 existing borrowers relationship. The benefits of this diversification are expected to become increasingly visible in Q1 Q2 Q2 of FY26. Also on the asset quality front, performance remains encouraging with no fresh slippage and continued progress on the resolution of the only remaining NP account that is Danu.<\/p>\n

In summary, FY26 is unfolding exactly on outlined over past two quarters. A year of caution yet constructive growth, strong sanction momentum, a robust pipeline calibrated scale up diversification into SME and new age infrastructure segments are sharper Private sector focus and sustained improvement in asset quality together positions us well to deliver long term for stakeholders while keeping credit discipline firmly at the core of everything what we do. This concludes the business update. Thank you.<\/p>\n

So now I’d like to transfer call to Dilip Shirvastav who will take us through the financial performance of the quarter.<\/p>\n

Dilip Srivastava<\/strong> \u2014 Director Finance and Chief Financial Officer<\/em><\/p>\n

Thank you. Good morning to all of you. So from the investor presentation you have seen that this quarter as well we have a qualification free limited audit report review audit report and we have a positive part during the quarter of 49 crores for the and for nine months it’s a 275. 274 crores for the nine month. Indeed for the current year return on assets for this quarter it’s a 3.73% and for the nine month it’s a 6.73%. We have maintained a robust capital adequacy ratio of 71% against the requirement of 15%.<\/p>\n

And net worth of the company is also improved from 2978 crores in the previous quarter to 3034 crore in the current quarter. So financial performance is in the positive direction. And over to Priya. Right.<\/p>\n

Priya Chaudhary<\/strong> \u2014 Head Investor Relations<\/em><\/p>\n

We will now open the floor to the Q and A session please.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, we will now begin the question and answer session. Anyone who wishes to ask a question may press Star and one on their touchstone telephone. If you wish to remove yourself from the question queue you may press Star and two participants are requested to use their handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. We take the first question from the line of Simran Sankla from Prance Group. Please go ahead.<\/p>\n

Simran Sankla<\/strong><\/p>\n

Yeah, so my question is what is the latest update on the NPA resolution. Of Danu Wind Parks?<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

Yeah, latest on Danu Wind Park. We are taking all out approach to for resolution of this count. We are going in several paths including contacting to ARCS to bid for that and we have already gone ahead to file a case into nclt. Apart from that the developer is also in our contact to actually for a one time resolution certain offer has been given by them but because of certain discussions and certain say you can say factors involved into that I am not able to. I am not in a position to actually disclose what exactly is happening on that front.<\/p>\n

But we are working on three way method of solving this issue and we expect that by the first month of FY27 we will have a clear visibility of the fund from where it is going to come and how it is going to be to resolve. And I am very sure that in Q1 itself it will be resolved. That’s the status as of now.<\/p>\n

Simran Sankla<\/strong><\/p>\n

Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We take the next question from the line of J. Suratwala from Aryan Ventures. Please go ahead.<\/p>\n

J. Suratwala<\/strong><\/p>\n

Hello, good morning.<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

Good morning.<\/p>\n

J. Suratwala<\/strong><\/p>\n

Thank you for my question. Now I’m asking as we can see that our 9 month disbursements are 1073 crores. But why it is not showing in our sales data or revenue data and when we can expect a decent revenue growth which on a balance sheet. What is the timeline regarding this?<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

Disbursements are already been shown in the revenue data. Also disbursement has taken in the last month of the last quarter, Q9 in the, in December. So interest would be coming and booked in the will start from the month of January. So you will see the result of that disbursement which have been done in the last quarter in Q4 and at the same time the balance sheet has. Sorry, AUM has not gone much up because of the prepayment of certain loans. So we’ll see the growth on part of revenue also as soon as these loans will start yielding interest.<\/p>\n

And we have been sanctioning the loan at a very high pace and we expect the sanction and disbursement will almost be double in next quarter. The revenue will come definitely and will show in the next quarter as well as the subsequent quarters.<\/p>\n

R. Balaji<\/strong><\/p>\n

Just to add on what Manjan is. Seeing, revenue is a function of the AUM and also the yield which we are getting on our portfolio. And like what Sanjeev has said, because of prepayments the AUM has come down. Now we are more or less close to the bottom in terms of prepayments and customers who had to prepay because of the rate expectations were significantly higher. They are prepaid. Going forward we envisage a robust AUM growth which will lead to the growth in AUM leading to increased revenue and profitability.<\/p>\n

That’s what we are envisaging it. So like what Sanjay said, in the fourth quarter we’ll be going doing good disbursements. So compared to the end of third quarter, by the end of the fourth quarter we should be able to see around 15% growth in AUM.<\/p>\n

J. Suratwala<\/strong><\/p>\n

Great. Great. And what we can expect three year down the line, the growth rate of this AEM growth,<\/p>\n

R. Balaji<\/strong><\/p>\n

We are at a. Small, very small base.<\/p>\n

J. Suratwala<\/strong><\/p>\n

Yeah.<\/p>\n

R. Balaji<\/strong><\/p>\n

Remember that few years back this company’s AM was significantly higher. So one of the things what we would say is like for example last quarter we dispersed close to 609 crores. Going forward the next year or so we could look at an average of thousand crores per quarter as far as the disbursement is concerned and you can work out the numbers and after that the disbursement should keep on growing at 2025% year on year basis. So then you can work out the numbers by yourself.<\/p>\n

J. Suratwala<\/strong><\/p>\n

Great, great. Thank you very much. Thank you for this insight.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, if you wish to ask a question, please press star and one we take the next question from the line of Nishita from Sapphire Capital. Please go ahead.<\/p>\n

Nishita<\/strong><\/p>\n

Yes, hello. Yes, good morning. So I had two questions. One was on the nim. We are seeing a downtrend in the nim. So at what rate? At what NIM margin? What is the sustainable NIM margin and are we going to see more downtrend or is it going to stabilize at the current 3.8% range?<\/p>\n

R. Balaji<\/strong><\/p>\n

I think that’s a very very interesting question because the entire industry is witnessing itin competition. And what we can just say is for example our endeavor would be to stabilize our portfolio yield at around 10 and a half percent or so. So that would be the intent going forward we will be managing our portfolio accordingly. So for a 10.5% portfolio that would translate possibly for anim of 3 and a half to 4%. So that’s what would be the bottom would be 3 and a half but we would cut vary between 3 and a half to 4% of earnings.<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

Okay,<\/p>\n

Nishita<\/strong><\/p>\n

Understood. And in FY26 like do we see us at like in Q4 do we see the NIM in the range of 4% or is it going to stay at 3.8% only?<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

It’s to this<\/p>\n

R. Balaji<\/strong><\/p>\n

We have not done the math etc but it be more or less similar plus minus few basis points difference would be there.<\/p>\n

Nishita<\/strong><\/p>\n

So like<\/p>\n

R. Balaji<\/strong><\/p>\n

3.524 it will be, it’ll be more or less in the range 3.5 to 3.8.<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

Okay,<\/p>\n

Nishita<\/strong><\/p>\n

Understood. And my next question is just a clarification. You mentioned that we expect disbursement to double down in Q4 FY26. So is that on a Q on Q basis or a year on year basis. So are we expecting it to double down from the current 609 crore of disbursement?<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

Yeah, this is Sanjeev again we expect it’s on a Q1Q basis from double from the this quarter Year on year basis, we have already achieved significant growth. Last year was not such a great year as far as the disbursement is concerned. So we are expecting Q4 to be almost double<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

For<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

Q3. That is our endeavor.<\/p>\n

Nishita<\/strong><\/p>\n

Okay, understood. Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We take the next question from the line of Vishal Mehta from Oakland Capital. Please go ahead.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Hello. Hi sir. Am I audible?<\/p>\n

R. Balaji<\/strong><\/p>\n

Yes, go ahead. Please<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Write two questions. One is when we looking at the disbursement guidance we are saying that next quarter would be anywhere between 1200 to 1500 cross. Because our annual disbursement target is about 2500 crores. So one question is that you know, when we are what gives us the confidence that after doing only thousand crores in nine months we expect almost a similar amount or a higher amount in the fourth quarter itself? That is the first question. And also Balaji sir, you guided for a 10 to 15% AUM growth.<\/p>\n

My question was that if we are planning to disperse about 1200 odd crores then the disbursement growth, the AUM growth should be higher. Considering that we’ll be adding about 1200 crores and most of the prepayment repayments are done then the growth would be much higher is what the question was.<\/p>\n

R. Balaji<\/strong><\/p>\n

So on the first part regarding the what gives us the confidence to do thousand crores plus of disbursements in the quarter. Please look into it in three phases. The first phase, sanctions. Second phase is the disbursements. And third phase is the pipeline. Now that’s a time lag between sanctions to disbursement. If you look into it in the second quarter itself we had sanctioned more than 1000 crores. And again in the third quarter also we have sanctioned more than 1000 crores. So some of the things what we sanctioned in second quarter translated into some disbursements in the third quarter and what we had sanctioned in second and third quarter.<\/p>\n

Some of the sanctions would translate into disbursements in the fourth quarter. So we are quite so. Therefore from already what we have sanctioned and not yet dispersed, we expect a pipeline of 400 to 500 crores coming in and fresh sanctions and disbursements will be there. Therefore will be coming to around thousand plus crores of disbursements. Sanjeev had said that our endeavors took close to nearly double what we had disbursed in the third quarter. So that comes from 1200 crores. So thousand to 1200 crores.<\/p>\n

We are looking into it. Beyond that it would be a bonus per Se, coming back to your second question, right. If you are looking at this disbursement, then why she is not the AUM growth would be higher. I had guided for seeing the fourth quarter little at least a 15% increase in AUM because as you know, there are some prepayments. Sometimes we happen while we are near end of the prepayment cycle in terms of the customers will be prepaying. One or two customers might prepay and therefore we do not want others.<\/p>\n

So we have set a few commitments earlier as far as on aum. We made a few statements and we have not been able to meet up to those things. So we want to ensure that if you’re seeing a 15% growth in AEM, those AEM figures, what we are saying. So on a steady state basis at a thousand crore disbursement plus regular repayments, even some prepayments, we expect a 15% growth in the AUM.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Great. So that’s pretty helpful. And also I had one more question. We’ve changed our strategy to focus more on private players. While it gives us more confidence and quality in terms of the lending, but it slows down the growth rate. So is there a apprehension to look at public sector entities primarily for the quality aspect or is there any other. I mean, could you just throw some more light on why not? I mean, why keep PSU lending to zero?<\/p>\n

R. Balaji<\/strong><\/p>\n

We are not keeping it to zero. Okay. And lending to state utilities is an integral part. And if you look into it, we had said that in the medium term, that is in FY27, we wanted to come to one third of our bore. Now the reason why we are going after private sector in a significantly more focused manner compared to the utilities is primarily because the state utility expectations is a larger quantum of loans and two, they are much more rate competitors. So we need to balance our margin expectations vis a vis the quantum that we can address once our liability side gets streamlined and we start getting more and more sanctions and we’ll be able to participate with greater vigor as far as the state utilities is concerned.<\/p>\n

So like state utilities and private are like two legs of any human being. So we’ll be going in tandem at both. Yes, there’ll be two thirds would be on the private and one on the public. That’s what we’re<\/p>\n

Vishal Mehta<\/strong><\/p>\n

On that point. Any clarity on how. What is our strategy for liabilities? I mean, we said that we want to focus a little more on liabilities. Could you just throw some light on. That<\/p>\n

R. Balaji<\/strong><\/p>\n

Liabilities like the unfortunate incidents, what happened in September of 26 right. Pushed our resources mobilization by two or three months like in this board was completely reconstituted and new directors have come on board now with increased disbursements and a fully functional board we’ll be engaging with. We are engaging already with quite a few banks in the fourth quarter we expect to see coming through.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Great. So thank you so much for your clarifications and wish you all the best for the future.<\/p>\n

R. Balaji<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you ladies and gentlemen, a reminder, if you wish to ask a question, please press star and 1. We take the next question from the line of Rakesh Srivastava who is an individual investor. Please go ahead.<\/p>\n

Rakesh Srivastava<\/strong><\/p>\n

Yeah, I would like. Thanks for giving me a chance to speak. I would like to know why the PFS is not declaring dividend from the last two years. I am a retired person. I have invested some money in PFF shares from the last six year. I mean keep invested. So why the PFS is not declaring dividend from last year? There was also profit this year till Q3. There is a good profit, there is growth. Then YPF is not declaring the dividend.<\/p>\n

R. Balaji<\/strong><\/p>\n

So thanks Rakesh. G. So going forward we would be doing it because see one of the things is while we are coming out of a sticky and a tough issue, the emphasis was on conserving resources because the market also was volatile. Now that we are back onto the growth shortly, you should be seeing what we are doing as far as dividends are concerned. So thanks for being patient with us. Hopefully there will be good news at the end of the annual results.<\/p>\n

Rakesh Srivastava<\/strong><\/p>\n

Okay, thank you. Thank you. Thanks a lot.<\/p>\n

Operator<\/strong><\/p>\n

Thank you.<\/p>\n

R. Balaji<\/strong><\/p>\n

We<\/p>\n

Operator<\/strong><\/p>\n

Take the next question from the line of Amer Cheddar from Banyan Capital Advisors. Please go ahead.<\/p>\n

Amey Chheda<\/strong><\/p>\n

Thanks for the opportunity. So sir, this 15% AUM growth is sequential, right? Q1Q.<\/p>\n

R. Balaji<\/strong><\/p>\n

Yes, that’s right.<\/p>\n

Amey Chheda<\/strong><\/p>\n

Okay. And sir, how much liquidity do we have right now? I think we had 1500 odd crores as on September, right?<\/p>\n

R. Balaji<\/strong><\/p>\n

It is similar to the same amount, 1400 crores. We got liquidity.<\/p>\n

Amey Chheda<\/strong><\/p>\n

Okay. And so the next question is, you know, since the board is reconstituted now like you mentioned and are we, are we planning the capital raise this year or will it get spilled over to the next financial year?<\/p>\n

R. Balaji<\/strong><\/p>\n

Already we are in January. So even when you go through the process it will get to the early part of next year, it will not happen this year. So there will be some news as soon as we get we got some concrete news. We’ll be getting back to you on that.<\/p>\n

Amey Chheda<\/strong><\/p>\n

Okay, thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We take the next question from the line of Vishal Beraya from Bandhan amc. Please go ahead.<\/p>\n

Vishal Biraia<\/strong><\/p>\n

Hi. Congratulations on the improvement in disbursements. My question pertains to the credit rating. So could you take us through as to what are the next steps for you to achieve that and when is the rating review due for both Crystal and Ichra? Thanks.<\/p>\n

R. Balaji<\/strong><\/p>\n

Yeah, the second part of the question is easier. I think ICRA would be due in February and Crisil would be in August. That’s the annual review. But nevertheless, if there is any significant change in the perception of the organization, there will be a rating change could also happen immediately. Coming back to what are the next steps as far as the rating change is concerned? The key thing is we have resolved quite a few things in terms of business traction, portfolio quality, stable management system systems and processes.<\/p>\n

The one thing that we need to resolve going forward, which is important not only from a rating perspective but from a sustained operations of the company, is raising of additional liabilities or resources. Till now we got a huge capital buffer and that’s the reason we were a bit slow on it because you got 1500 crores of excess liquidity at this point of time. So in the fourth quarter we’ll be pressing the full throttle on that. And, and once this comes post the annual results, we expect to see some positive movement as far as the ratings are concerned.<\/p>\n

Vishal Biraia<\/strong><\/p>\n

Okay. And in terms of the liabilities, could you, I mean give a perspective as to what is the bulk of your borrowings are MCNR linked and the banks have not decline reduce the MCLR as yet. So what are the incremental tips? Because what happens is it keeps us, I mean there is disadvantage on that front.<\/p>\n

R. Balaji<\/strong><\/p>\n

I think that’s a fair point. So only one thing is we’ll have to keep on increasing our engagement with banks to at least look at. While the MCLR does not reduce, at least the spread reduces. In fact, one of our lenders had reduced the spread for us in the third quarter. Going forward, that would be the thing. And going forward we at least expect a better transmission because as we all know, the rates have come down 125 basis points. But the MCLR has not got translated by more than 30 to 45 basis points across various banks.<\/p>\n

So going forward we expect some more transmission. Therefore we expect a moderation of these yields. The only solution for this is going forward is we need to start diversifying beyond banks as far as liability sourcing is concerned. So in the early part of next year we will start making inroads into the bond market, albeit in the smaller quantum. So once as we build up a thing we’ll be having a more diversified liability profile. We’ll be able to manage the. It’s in a much better.<\/p>\n

Vishal Biraia<\/strong><\/p>\n

So then I mean as the banks reduce the MCLR over the next few months. So then should we expect a meaningful improvement in the cost of funds say in the next two quarters?<\/p>\n

R. Balaji<\/strong><\/p>\n

See it will be basically what happens is different banks. It depends upon the reset date happens on an annual basis depending upon when we are borrowed. Therefore the path would be gradual and just to look into it. Compared to the September quarter, our cost of funds in the December quarter has come down and we expect on the next two three quarters on a quarter on quarter basis our average cost of funds will be coming down by 15 to 20 basis points for the next couple of quarters.<\/p>\n

Vishal Biraia<\/strong><\/p>\n

All right, so this spread should stabilize there. If you could give that perspective. Should we look at a 150 to 160bps as a sustainable spread for you?<\/p>\n

R. Balaji<\/strong><\/p>\n

I think 150 is what we are targeting. We want to target the interest spread as 150 basis points in the third quarter. It’s low because that’s what then gives us a good ROA. That’s what our endeavor is to target a 150 basis point spread.<\/p>\n

Vishal Biraia<\/strong><\/p>\n

So the 150bps should lead you to three and a half percent of ROI. Would that be a fair assessment?<\/p>\n

R. Balaji<\/strong><\/p>\n

I mean three and a half is too high. It will be closer to 3%.<\/p>\n

Vishal Biraia<\/strong><\/p>\n

3%. All right, fair enough. Thank you. Thank you Balaji.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We take the next question from the line of Kartik Sharma from Anandrati Institutional Equities. Please go ahead.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Hello, Good morning. I hope I’m audible.<\/p>\n

R. Balaji<\/strong><\/p>\n

Yes, please go ahead.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Congratulations on a great set of numbers, sir. I just wanted to ask you two questions. One is with these discom storing profitable and the Legacy Amendment act which is going to privatize discoms. So what kind of opportunities are we seeing there? Given our outstanding outstanding book is 33% comes from distribution. That was my first question. My second is our pipeline. If you could give a breakdown of the pipeline in terms of how you’ve given for our outstanding one. So<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

That.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

And my second question is on the renewable front where we are seeing an oversupply in the module front and the government is targeting on giving more funding towards the more integrated players. So how are we seeing that shape of the smaller players with smaller capacities?<\/p>\n

R. Balaji<\/strong><\/p>\n

I will take the first question and the second and third. Sanjeev will answer. Yes, discoms turning profitable creates opportunity. But we should also bear it in mind that since either the discoms were not very profitable, that also kept away a huge set of lenders away from them. So with the books becoming stronger, there’ll be a greater renewed interest as far as discomfs are concerned and this is evident that their borrowing costs have started coming down, especially in the last 12 to 18 months.<\/p>\n

So the opportunity for us in state utilities is discoms. To be honest, it would be very limited in the sense because we can do it for special purposes for particular time periods, for particular quantums. The bigger opportunity would be going to the larger players like PFC Rec or the larger banks like State Bank. So that’s what it is there. But nevertheless it’s a all an interesting opportunity for us. The second and third question Sanjeev will answer.<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

Yeah, your question about solar panels and all that. Solar panels. The business of manufacturing of solar panels has become highly competitive in recent past. The margins have gone down no doubt onto that. And that’s why the solar panels cost getting down. The projects involving solar panels like solar projects are getting more attractive whereas the manufacturing is not that yield making. So you will see in our current portfolio in last quarter we have not sanctioned or disbursed any solar panel manufacturer.<\/p>\n

Though we are keen to go into the project loans also. We have not yet got a right proposal because of our less competitiveness on rates. As far as concerned, our concentration is more on the remaining value chain like EVs and battery swapping data centers. These are the niche sector where we are considering more and not actually on solar panels as of now. So I hope I have addressed you. Yeah.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Yes. Yes. Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, if you wish to ask a question, please press star and one, we take the next question from the line of Chana Malu who is an individual investor. Please go ahead.<\/p>\n

Chana Malu<\/strong><\/p>\n

Thank you for this opportunity. I am holding 1 lakh 55,000 shares in this company and congratulations for good set of numbers in the sanction and disbursement. What is the present status of source fundraising from different sources for the next sanctions and disbursements?<\/p>\n

R. Balaji<\/strong><\/p>\n

Yeah. Thank you for being a valued investor. Like as we said earlier, we have got 1400-1500 crores of liquidity that will more than take care of our disbursements for this quarter. The treasury team is actively focused on garnering additional liabilities. So they are in dialogue with two to three banks. We expect couple of sanctions rectify before the end of this quarter. So all I could assure you is that liability raising plans are in place and we’ll be able to continue our continued momentum not only in the fourth quarter but also in the subsequent quarter.<\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, if you wish to ask a question, Please press star and 1. We take the next question from the line of Manoj Pandey who is an individual investor. Please go ahead.<\/p>\n

Manoj Pandey<\/strong><\/p>\n

Hello. Good morning everyone. For a good set of numbers I have one question. Our competitors like EDA is growing at the rate of 30 to 40%. They are 30 to 40%. They’re increasing their book by 30 to 40%. Why? But finance is still struggling with prepayment of book debts despite number. What is the strategy to adapt to this? PTC means prepayment of prepayment so that it lets in our growth. Thank you.<\/p>\n

R. Balaji<\/strong><\/p>\n

Thank you. We are a niche player as far as Indra financing is concerned. And our ability to grow depends on identifying the right customers. You pointed out about Ireda. Now most of the lending happens at a very, very low price of say close to 9% or so. And that’s an area which at this point of time we are not participating in. Because as a small NBFC our cost of funds is quite high. But going forward, as our book becomes bigger and we’re able to start garnering liabilities at a more competitive price, we’ll be able to participate in the larger part of the marketplace.<\/p>\n

But the market is for infrastructure financing is very large. Every player has got its own area where we can participate in. And as far as we are concerned focusing on the smaller infra projects what we call as distributed infrastructure or in terms of sustainable finance that’s where we’ll be focusing upon. And we think that’s a significant potential for us to expand our book significantly in the next five to 10 years in this particular area. So we’ll be only focusing on the same area.<\/p>\n

Manoj Pandey<\/strong><\/p>\n

Okay. But sir, my question is at this point of time when the book size once of a time used to have more than 14,000 crore of book size. Now it is even less than 4000 crore over last five years. Now is the right time to change our strategy and to quickly improve your book size. There should be a trade off in return and risk taking it to be more risk taking to scale up your books. Also because of enough capital buffer. You have enough, enough everything.<\/p>\n

R. Balaji<\/strong><\/p>\n

Okay, we’ll keep that.<\/p>\n

Manoj Pandey<\/strong><\/p>\n

Thank<\/p>\n

R. Balaji<\/strong><\/p>\n

You.<\/p>\n

Manoj Pandey<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We take the next question from the line of Jayant Raghman who is an individual investor. Please go ahead.<\/p>\n

Jayant Raghman<\/strong><\/p>\n

Good morning to the management of tfs. So you mentioned sometime back that there have been prepayments during this quarter. So what then happens to our cost of funds will be when we, we are now left with the cash in our account for which we have had a cost of funds which was connected to the rate at which we had lent. So are we able to also bring down the rate of interest corresponding to the future disbursements?<\/p>\n

R. Balaji<\/strong><\/p>\n

Not exactly. See when if you are basically if you get a repayment or a prepayment, right, you got excess cash with you, you need to redeploy it in fresh disbursements. And until you deploy it will be having some negative carry on account of that since we are actually keeping on as a going concern, we’re keeping on disbursing continuously for some couple of months. We’ll be having some excess liquidity. So that’s what will be there.<\/p>\n

Jayant Raghman<\/strong><\/p>\n

No, my question was that I understand we’ll be having the funds but now that the interest rates are going down, the borrower will be expecting a lower rate of interest from us. Right. But our cost at which we have borrowed must be a little higher because we have borrowed it in the past. Right. So will that come down?<\/p>\n

R. Balaji<\/strong><\/p>\n

So we will lend to people who will borrow at our rate. So market is large. For example, if you take a renewable energy project, which it’s a hot topic nowadays, people borrow for renewable energy projects from as low as 8% to as high as 11%. So different customers would have different things. So we need to identify the right customer, put appropriate risk management practices in place, ensure that we’re able to deliver so that we need to we can maintain our margin expectations.<\/p>\n

Jayant Raghman<\/strong><\/p>\n

Okay, the second question was that in the previous quarter you had mentioned that because three boards positions were vacant, that is going to impact our next quarter. So if we see the year on year numbers, definitely the top line and bottom line are both down. So now is the, Is the board full now and will have. Will it have a positive impact going forward or still there are some positions to be filled.<\/p>\n

R. Balaji<\/strong><\/p>\n

The board is completely full. The board has been. Entire board has been reconstituted. Three new independent directors have joined the board in this quarter. So going forward we expect no adverse impact because of this. In fact, the fourth quarter will be significantly better than the third quarter.<\/p>\n

Jayant Raghman<\/strong><\/p>\n

Okay, and one last question. The share price, if we see in the market it’s. It looks like it is very undervalued compared to the book valued and book value and these. So one of the ways to appreciate is that we have to pitch to the institutions. You know when the mutual funds and big institutions start buying shares in the company that is the time we will see a share price appreciation. So are we attending various shows and pitching to different institutional clients?<\/p>\n

R. Balaji<\/strong><\/p>\n

I think that’s an operating which the investor relations team does it regularly see. Basically at the end of the day the team is pitching. Once our performance improves significantly automatically people will start buying it. So that’s my team is working on to it. And even for example the mutual funds or the institutions they also look to for companies which can deliver good results for them. So even they’ll be looking for it. So it should happen in the course of time.<\/p>\n

Jayant Raghman<\/strong><\/p>\n

All right. Thank you sir. You have a great day.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We take the next question from the line of Kukum Chand Singhar who is an individual investor. Please go ahead.<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

Sir. I just wanted to know what’s your forecast for FY27 and about the loan book AUM size.<\/p>\n

R. Balaji<\/strong><\/p>\n

We do not want to give a specific forecast for FY27. Like what I said is once we move on to this quarter on quarter in the four, I will be doing thousand crores of disbursements per quarter. So then you can work out your numbers from there.<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

Okay sir. Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We take the next question from the line of Chintan Mehta from Puniska family office. Please go ahead.<\/p>\n

Chintan Mehta<\/strong><\/p>\n

Thank you so much for the opportunity. Sir, I just want to understand why can’t we grow at a much higher rate in percentage of AUM at low pace thousand crore quarterly guidance can be easily upward. We are lower leverage. We have high rooms for growth. So also industries wise is quite big and guarantee your team has been also very good setup. So at low base we need to go at much higher rate. Looking at the time like Ireda is doing or Hurku is doing, that could be great if you can throw light or where we can catch up a high growth rate.<\/p>\n

R. Balaji<\/strong><\/p>\n

I think it’s a process. If you look into it, quarter on quarter the disbursements are increasing, the sanctions are increasing. So like say last quarter we disbursed 600 crores. And in fact the 600 crores was the highest in more than three years. And in the fourth quarter we are disbursing more than thousand crores. So once the pipeline starts coming in and people automatically there’s growth will automatically happen. And that’s what’s happening. So you should start start seeing it going forward.<\/p>\n

And we are not here to compare with Ireda or others because they got their advantages, they are significantly larger than us. They’ve got a cost of funds advantage, they’ve got a quasi government company. Therefore the multiple advantages for us the opportunity is how do we grow from there. How do we grow sustainably and rapidly. That’s what we are doing. And once we get couple of quarters of thousand crore disbursements and we can set on to the next target how do we go from thousand to significant layer number?<\/p>\n

So it’ll start happening and you can start seeing it in the forthcoming quarters.<\/p>\n

Chintan Mehta<\/strong><\/p>\n

Okay. Okay. What kind of mix which we are looking in current pipeline?<\/p>\n

Operator<\/strong><\/p>\n

Chintan, I do apologize you will have to repeat your question as your audio was not clear.<\/p>\n

Chintan Mehta<\/strong><\/p>\n

Sure. So how your mix will look like the current pipeline which you have is for the next near term. Next one year. One year or so.<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

So though we have not been able to hear you very clearly. But why what I. I can understand that we wanted to know about the expected product mix mix or. Or say our lending product mix if I’m right. I just wanted to clarify that our product mix will continue to be focused on infra sectors all sectors of infrastructure including its value chain and at the same time will try to encashe the projects which will be a high margin projects for that we have already opened verticals for funding to FIs and SMEs also which will continue to be focused on a high yielding known proposals.<\/p>\n

At the same same time being an infrastructure finance company will be focusing on all sectors of infrastructure and product will be mix would be like that only that whatever comes to us at our our rate and our quality expectation we’ll go ahead with that.<\/p>\n

Chintan Mehta<\/strong><\/p>\n

Sure sir that’s from my. Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We take the next question from the line of hookum Chand Singhal who is an individual investor. Please go ahead<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

Sir one more question. Actually rather I appreciate your effort regarding resolution of npa that balance of NPA is probably from Dhanu or when is it likely to be resolved.<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

See we have addressed this question earlier also so we. I again would like to reiterate that we are already working.<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

Please go ahead sir. Sorry I missed that part.<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

So I’ll just like to clarify that we are working on A3 Four Paths to Resolve that including NCLT options and getting bids from the arcs. Both we are already working on. At the same time the borrower also has approached us for some one time situation settlement and terms or their offer because of certain issues will not be able to actually disclose right away as soon as Something materialized will come out openly and then we expect that it’s the resolution process will be at advanced stages in the first month of the next quarter itself.<\/p>\n

And by the end of the first quarter we will be able to resolve that.<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

That’s<\/p>\n

Sanjeev Kumar<\/strong><\/p>\n

The.<\/p>\n

Kukum Chand Singhar<\/strong><\/p>\n

Thank you sir. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you ladies and gentlemen. As there are no further questions from the participant, I now hand the conference over to Mr. R. Balaji for his closing comments.<\/p>\n

R. Balaji<\/strong><\/p>\n

Thanks all for all your queries. Like last quarter, we made a good beginning in terms of significant growth. Our disbursements was more than 60 crores. And we also reconstituted the boat and that was required after the unexpected shock of what happened in September. Going forward, as far as this quarter is concerned, we see significant events from the company’s perspective. One, our disbursement, we expect it to cross more than 1000 crores in this particular quarter. Two, getting future ready in the sense that we need to source significant liabilities.<\/p>\n

And three, more importantly, focus on resolving the last remaining npa. Danu. While it’s a process, it could it’s below to the next year. But significant steps needs to be taken so that we are as close to resolution of that issue as possible. So with this we expect to grow and after many years of many quarters of decline, I think in the fourth quarter we would see increase in the company’s AUM by around 50, 0%, possibly even more. And then from there it’s up to us to keep on growing quarter on quarter so that we expect in the foreseeable future to have a sustainable rate of thousand crores per quarter as a disbursement number.<\/p>\n

So that’s where we are and look forward to your continued support. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you on behalf of PTC India Financial Services limited That concludes this conference call. Thank you for joining us and you may now disconnect your lines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. PTC India Financial Services Ltd (NSE: PFS) Q3 2026 Earnings Call dated Jan. 21, 2026 Corporate Participants: Priya Chaudhary \u2014 Head Investor Relations R. Balaji \u2014 Managing Director and Chief Executive Officer Sanjeev Kumar \u2014 […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-181651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":109778,"url":"https:\/\/alphastreet.com\/india\/infosys-limited-infy-q4-2021-earnings-call\/","url_meta":{"origin":181651,"position":0},"title":"Infosys Limited (INFY) Q4 2021 Earnings Call","author":"Sahil Anand","date":"April 21, 2021","format":false,"excerpt":"Infosys Limited (NYSE: INFY) Q4 2021 earnings call dated\u00a0Apr. 14, 2021 Corporate Participants: Sandeep Mahindroo\u00a0\u2014\u00a0Vice President, Financial Controller & Head \u2013 Investor Relations Salil Parekh\u00a0\u2014\u00a0Chief Executive Officer and Managing Director Pravin Rao\u00a0\u2014\u00a0Chief Operating Officer and Whole-time Director Nilanjan Roy\u00a0\u2014\u00a0Chief Financial Officer Analysts: Ankur Rudra\u00a0\u2014\u00a0JPMorgan \u2014 Analyst Diviya Nagarajan\u00a0\u2014\u00a0UBS \u2014 Analyst\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":143149,"url":"https:\/\/alphastreet.com\/india\/ptc-india-limited-q3-fy23-earnings-conference-call-insights\/","url_meta":{"origin":181651,"position":1},"title":"PTC India Limited Q3 FY23 Earnings Conference Call Insights","author":"Praveen","date":"March 2, 2023","format":false,"excerpt":"Key highlights from PTC India Limited (PTC) Q3 FY23 Earnings Concall Management Update: [00:04:29] PTC said that the company focused more on the core margin than on volumes. 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It provides equity\/debt financing solutions to the energy value chain. Presenting below are its Q1 FY26 earnings results. \u00a0 Q1 FY26 Earnings Results Total Income:\u00a0\u20b9142.24 crores, down 19.6% QoQ (Q4\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"PTC India Financial Services Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/1-9.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/1-9.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/1-9.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/1-9.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/1-9.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/1-9.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":148083,"url":"https:\/\/alphastreet.com\/india\/ptc-india-financial-services-ltd-q4fy23-results-out-revenue-drops-by-over-15\/","url_meta":{"origin":181651,"position":3},"title":"PTC India Financial Services Ltd Q4FY23 results out, revenue drops by over 15%","author":"Chirag Gupta","date":"June 2, 2023","format":false,"excerpt":"PTC India Financial Services Limited (PFS) is a NBFC registered with RBI which holds the status of Infrastructure Finance Company. 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PTC India Financial Services Ltd reported Total revenue for Q4 FY23 of \u20b9194 Crore, down from \u20b9228 Crore year on\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":171782,"url":"https:\/\/alphastreet.com\/india\/ptc-india-q2-fy26-earnings-results\/","url_meta":{"origin":181651,"position":4},"title":"PTC India Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 23, 2025","format":false,"excerpt":"PTC India Financial Services Limited (PFS) is a NBFC registered with RBI which holds the status of Infrastructure Finance Company. It provides equity\/debt financing solutions to the energy value chain. Presenting below are its Q2 FY26 earnings results. \u00a0 Q2 FY26 Earnings Highlights Profit After Tax (PAT):\u00a0\u20b988.14 crore, up\u00a086% YoY\u00a0from\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"PTC India Financial Services Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/PTC-India-Financial-Services-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/PTC-India-Financial-Services-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/PTC-India-Financial-Services-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/PTC-India-Financial-Services-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/PTC-India-Financial-Services-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/PTC-India-Financial-Services-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":174901,"url":"https:\/\/alphastreet.com\/india\/ptc-india-limited-ptc-q2-2025-earnings-call-transcript\/","url_meta":{"origin":181651,"position":5},"title":"PTC India Limited (PTC) Q2 2025 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"PTC India Limited (NSE: PTC) Q2 2025 Earnings Call dated Nov. 13, 2024 Corporate Participants: Manoj Kumar Jhawar \u2014 Chairman and Managing Director (Additional Charge) and Director (Commercial and Operations) Pankaj Goel \u2014 Executive Director and Chief Financial Officer Analysts: Chanamallu Halagodi \u2014 Analyst Subhankar Ojha \u2014 Analyst Suyash Bhave\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=181651"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181651\/revisions"}],"predecessor-version":[{"id":181672,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181651\/revisions\/181672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=181651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=181651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=181651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}