PTC India Financial Services was incorporated on September 8, 2006 as a public limited company, in the name of “PTC India Financial Services Limited” under the Companies Act with the RoC. The certificate for commencement of business was issued by the RoC on March 30, 2007. The company is not a government company within the meaning of Section 617 of the Companies Act. PTC holds 77.60% of the company’s equity share capital and GS Strategic Investments (an affiliate of The Goldman Sachs Group, Inc.) and Macquarie India Holdings (an affiliate of The Macquarie Group) each hold 11.20% of the company’s equity share capital.

The company is an Indian non-banking financial institution promoted by PTC India (PTC) to make principal investments in, and provide financing solutions for, companies with projects across the energy value chain. They believe they are one of the few financial institutions in India that provide both equity and debt financing, including short-term and long-term debt, as well as structured debt financing. With a focus on infrastructure development, they offer an integrated suite of services including provision financing to, and make investments in, private sector Indian companies in the power sector, including for power generation, equipment supply and fuel source projects. They are currently focused primarily on power generation projects in India. They also provide fee-based syndication and advisory services as well as carbon credit financing against certified emissions reduction (CER).

They are regulated by the Reserve Bank of India (RBI) as a systemically important non-deposit taking, Non Banking Financial Company (NBFC), and have been classified by the RBI as an Infrastructure Finance Company, or IFC, in August 2010. The IFC status enhances their ability to raise funds on a cost-competitive basis and enables them to assume higher debt exposure in infrastructure projects. They are a subsidiary of and promoted by PTC, which is the market leader for power trading solutions in India, according to the Central Electricity Regulatory Commission monthly report on short term transactions of electricity (December 2010). PTC purchases power primarily for sale to power utilities and also provides comprehensive solutions for the power sector in India. As of December 31, 2010, PTC had a portfolio of power purchase agreements aggregating to approximately 14,185 MW and memorandum of understandings for an additional approximately 13,243 MW. PTC is a GoI initiated company promoted by National Thermal Power Corporation (NTPC), Power Grid Corporation of India, Power Finance Corporation (PFC) and NHPC. They benefit from the power sector expertise, network and relationships of PTC and its affiliates, which provide them with early access to business opportunities.

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Market Cap	1,089 Cr	ROE	1.2%
P/E Ratio(TTM)	8.1	EPS(TTM)	0.8
P/B Ratio	0.5	Dividend Yield	0.0%
Industry P/E	38.3	Book Value	36.9
		Face Value	10.0

Fundamentals