Power Finance Corporation Ltd

Subsidiary divestment

• Transfer of two wholly owned subsidiaries completed on 28 September 2026.
• Latur REZ Transmission Limited sold to Montecarlo Energy Limited.
• Raigad Power Transmission Limited sold to Apraava Energy Private Limited.
• Consideration received: Rs 3,71,81,895 for Latur REZ.
• Consideration received: Rs 7,40,55,693 for Raigad Power Transmission.
• Turnover and net worth contributions from both SPVs were negligible in the last financial year.

SPV formation and project scope

• Malegaon Power Transmission Limited incorporated as a wholly owned PFCCL subsidiary.
• SPV to establish 400/220 kV Malegaon (Saundane) S/S in Nashik district.

BPC appointment

• PFCCL nominated as Bid Process Coordinator for tariff-based competitive bidding.

Preparatory activities

• SPV will undertake land surveys, land acquisition, and forest clearance prep.

Transfer mechanism

• SPV designated for transfer to successful bidder after tariff-based bidding.

Regulatory approvals

• State Empowered Committee nominated PFCCL as BPC; Maharashtra approval conveyed.

Power Finance Corporation Ltd - Trading Window Closed Till Further Orders

Cessation of Independent Director

• Shri Pankaj Gupta ceased as Non-Official Independent Director on 22 September 2026 on completion of tenure.

Auditor Change

• C&AG appoints Thakur Vaidyanath Aiyar & Co and Mehra Goel & Co as joint statutory auditors for FY 2026-27.

AGM proceedings

• 40th AGM held on August 31, 2026.
• Proceedings submitted to exchanges under Regulation 30 LODR for information and record.
• Document signed by Company Secretary & Compliance Officer.

SPV transfer details

• Fatehgarh II Transmission Limited SPV transferred to Power Grid Corporation of India Limited.
• Sale completion date: 28 August 2026.
• Consideration received: Rs 19,11,35,596.
• Buyer is Power Grid Corporation of India Limited; not promoter group.
• Transaction not related party; arm's length.
• Not a slump sale; pricing per MoP guidelines.
• SPV turnover negligible in last financial year.

Newspaper publication of unaudited results

• Newspaper publication of unaudited standalone and consolidated financial results for quarter ended June 30, 2026.
• Publication made under Regulation 30 and Regulation 47 of SEBI LODR.
• Submitted to NSE and BSE for information and record.
• Dated 14 August 2026.

AGM notice publication

• Newspaper notice for Power Finance Corporation's 40th AGM and e-voting published in Business Standard on 11 Aug 2026.
• Publication complies with SEBI LODR Regulation 30; information filed for investor record.
• No material financial impact disclosed.

AGM Details

• 40th AGM on Monday, 31 August 2026 at 11:00 AM via VC/OAVM.
• Record date: 25 August 2026.
• Book closure: 17–31 August 2026.

Key Resolutions

• Ordinary: adopt standalone and consolidated financial statements for FY2025-26.
• Ordinary: interim dividend already paid; final dividend proposed at Rs 3.95 per share.
• Ordinary: appoint director retiring by rotation.
• Special: approve enhanced borrowing limit up to Rs 9,00,000 crore and USD 25 billion with asset mortgage.

Director Changes

• Rajesh Kumar Agarwal appointed Director (Finance) from Apr 23, 2026.

Auditor Arrangements

• Remuneration of Statutory Auditors to be fixed; CAG to appoint for FY2026-27.

Material Related Party Transactions

• No material related party transactions; RPT policy in place.