Power Finance Corporation Limited held its 40th Annual General Meeting on Monday, August 31, 2026, from 11:00 AM to 12:25 PM IST through Video Conferencing/Other Audio Visual Means (VC/OAVM). The meeting was conducted in compliance with the Companies Act and guidelines from the Ministry of Corporate Affairs and SEBI.

Attendance

Directors Present:

  • Shri Rajesh Kumar Agarwal - Director (Finance) and Chairman of Corporate Social Responsibility Committee
  • Shri V. Packirisamy - Director (Commercial)
  • Dr. Sudhir Mehta - Independent Director and Chairman of Audit Committee/Stakeholders Relationship and Shareholders'/Investors' Grievance Committee/Board Level Risk Management Committee/Board Level IT Strategy Committee
  • Shri Pankaj Gupta - Independent Director and Chairman of Nomination and Remuneration Committee

Other Attendees:

  • Shri Ravi Dhawan (Director-Distribution), Ministry of Power, representing President of India
  • Shri Rajesh Kumar Singh, Chief Vigilance Officer, PFC
  • Shri Manish Kumar Agarwal, Company Secretary
  • Representatives from Thakur Vaidyanath Aiyar & Co. and Mehra Goel & Co., Joint Statutory Auditors
  • Smt. Indrani Chaudhuri, Partner, T. Chatteriee & Associates, Secretarial Auditor

Shareholder Participation: 159 shareholders holding 184,789,346 shares (184.79 crore shares) attended the AGM through VC.

Meeting Proceedings

The Company Secretary confirmed quorum was present and welcomed all participants. The Chairman addressed shareholders highlighting:

  • PFC's strong financial and operational performance during FY 2025-26
  • Government policy initiatives and investment opportunities
  • PFC's role in financing India's energy transition
  • Initiatives in renewable energy, distribution reforms and sustainable finance
  • Proposed PFC-REC merger and its strategic significance
  • Importance of prudent growth and risk management
  • PFC's priorities for its Fifth Decade towards supporting India's journey to Viksit Bharat 2047

Voting Arrangements

E-voting facility was provided to members as of the cut-off date August 25, 2026, with voting open from August 28 to August 30, 2026. Smt. Indrani Chaudhuri was appointed as scrutinizer for remote e-voting and e-voting at the AGM.

Agenda Items Approved

The following business items were approved through requisite resolutions:

Ordinary Business:

1. Receipt, consideration and adoption of:

  • Standalone Audited Financial Statements for FY ended March 31, 2026 including Audited Balance Sheet and Statement of Profit & Loss, with Reports of Board of Directors, Statutory Auditor and comments of Comptroller and Auditor General of India
  • Consolidated Audited Financial Statements for FY ended March 31, 2026 including Audited Balance Sheet and Statement of Profit & Loss, with Reports of Statutory Auditor and comments of Comptroller and Auditor General of India

2. Confirmation of payment of Interim Dividend and declaration of Final Dividend on Equity Shares for financial year 2025-26

3. Appointment of Shri Shashank Misra (DIN: 08364288) as Director who retires by rotation and offered himself for re-appointment

4. Fixation of remuneration of the Statutory Auditors

Special Business:

5. Appointment of Shri Rajesh Kumar Agarwal (DIN: 09699001) as Director (Finance)

6. Appointment of Shri V. Packirisamy (DIN: 08910218) as Director (Commercial)

7. Appointment of Shri Pankaj Gupta (DIN: 03415536) as Part-Time Non-official Director (Independent Director)

8. Enhancement of borrowing limit approved under Section 180(1)(c) of Companies Act, 2013 & modification under Section 180(1)(a) of Companies Act, 2013

Shareholder Interaction

Registered shareholder speakers appreciated the company's financial performance and dividends declared during FY 2025-26. Questions were raised regarding:

  • Merger of REC & PFC
  • Future roadmap
  • ESG Rating
  • Borrowing Strategy
  • Company operations and future strategy

All queries were addressed by the Chairman and Managing Director. The meeting concluded at 12:25 PM IST.