New Delhi: Power Finance Corporation (PFC) held its 40th Annual General Meeting (AGM) on August 31, 2026, with shareholders discussing the proposed PFC-REC merger, FY2025-26 financial performance, dividend, borrowing strategy and the company’s future growth plans.
The AGM was conducted through video conferencing from 11:00 AM to 12:25 PM, with 159 shareholders holding 1,84,78,93,469 shares participating in the meeting.
PFC Highlights Proposed REC Merger and Energy Transition
Addressing shareholders, PFC Chairman and Managing Director Parminder Chopra highlighted the company’s operational and financial performance during FY2025-26.
She also outlined PFC’s expanding role in financing India’s energy transition, with a focus on areas such as:
- Renewable energy financing
- Power distribution reforms
- Sustainable finance
- Emerging energy-transition opportunities
The proposed PFC-REC merger was among the key strategic issues discussed at the AGM. The company highlighted the merger’s significance as part of its broader growth strategy and outlined priorities for its fifth decade of operations.
Chopra also linked PFC’s future plans with India’s Viksit Bharat 2047 vision and the evolving requirements of the power sector.
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Dividend and Financial Statements Among Key AGM Resolutions
Shareholders considered the company’s audited standalone and consolidated financial statements for FY2025-26 as part of the AGM agenda.
The resolutions also covered the confirmation of the interim dividend and declaration of the final dividend for FY2025-26.
Another resolution concerned the reappointment of Shashank Misra, who retired by rotation and offered himself for reappointment.
Key Board Appointments Considered
Several important appointments were also placed before shareholders for approval.
These included:
- Rajesh Kumar Agarwal as Director (Finance)
- V. Packirisamy as Director (Commercial)
- Pankaj Gupta as Part-Time Non-official Director (Independent Director)
The resolutions form part of PFC’s broader board and leadership framework.
PFC Seeks Higher Borrowing Limit
The AGM also included proposals related to PFC’s borrowing capacity.
Shareholders were asked to consider a proposal to enhance the company’s borrowing limit under Section 180(1)(c) of the Companies Act, 2013.
A related modification under Section 180(1)(a) was also placed before shareholders.
The proposals are aimed at providing greater financial flexibility to support PFC’s lending and business requirements as India’s power sector continues to expand.
Shareholders Raise Questions on REC Merger and Future Roadmap
During the shareholder interaction, investors raised questions on several strategic and operational issues.
Key areas discussed included:
- Proposed PFC-REC merger
- PFC’s future growth roadmap
- ESG rating and sustainability performance
- Borrowing strategy
- Future business operations
- Energy-transition financing
PFC Chairman and Managing Director Parminder Chopra responded to the queries raised by shareholders during the meeting.
PFC’s Focus on India’s Evolving Energy Sector
The discussions at the 40th AGM reflected PFC’s evolving role in India’s power and energy-transition landscape.
Alongside its traditional power-sector financing activities, the company is seeking to expand its focus on renewable energy, sustainable finance and distribution-sector reforms.
The proposed PFC-REC merger, higher borrowing flexibility and emphasis on energy-transition financing are expected to remain important components of the company’s future strategy.
The AGM concluded at 12:25 PM on August 31, 2026.
About Power Finance Corporation
Power Finance Corporation (PFC) is a Government of India public sector financial company under the Ministry of Power. It is a leading non-banking financial company (NBFC) focused on financing India’s power sector, including generation, transmission, distribution and renewable energy projects. PFC plays an important role in supporting the development and modernisation of India’s power infrastructure.
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