Stage 2 Asset Creep from State Utilities
Stage 2 assets increased to ~11% of outstanding (vs 7.5% in Q4), driven by habitual delays from state electricity utilities in remitting dues. While none have defaulted, provisioning volatility remains.
PFC / Q1-FY25 / risks
Keep the risk register visible.
Power Finance Corporation · Material risks, their source context, and severity in the latest available quarter.
Research layer active
ConCallIQ research layer
Signal, with the source still visible.
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Risk intelligence
Material risks this quarter
medium
Transformation Exercise Execution Risk
BCG-led transformation temporarily slowed Q1 disbursements. Management expects another quarter for complete process stabilization; any delays could impact FY25 growth targets.
NCLT Timeline Uncertainty for KSK Mahanadi
KSK Mahanadi resolution is court-driven; while management expects FY25 completion, external factors could delay recovery and associated write-backs.
Shapoorji Pallonji Exposure Controversy
Media reports speculated on sanctioned exposure for Shapoorji Pallonji infrastructure project. Management clarified sanction was conditional on further due diligence with no funds disbursed; deal outcome uncertain.