Power Finance Corporation , a Government of India Undertaking, delivered a strong financial performance in Q4 and for the full financial year ended March 31, 2026. On a standalone basis, total income from operations for Q4 stood at ₹15,318.97 crore compared to ₹14,938.86 crore in the same period last year, while standalone net profit after tax for the quarter rose to ₹6,324.57 crore versus ₹5,108.95 crore year-on-year, surpassing analyst estimates of ₹50B. The Board of Directors, in its meeting held on May 13, 2026, approved the standalone and consolidated audited financial results for the quarter and financial year ended March 31, 2026. The Joint Statutory Auditors have not expressed any modified opinion in their audit reports for the financial year. Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the newspaper publication of the annual audited financial results was scheduled on May 15, 2026.

Q4 Financial Highlights

The latest quarterly results reflect a notable improvement across key financial metrics on both standalone and consolidated bases. The following table presents the Q4 performance:

Full-Year FY26 Performance

For the full financial year ended March 31, 2026, Power Finance Corporation reported robust growth across both standalone and consolidated metrics. Standalone total income from operations grew to ₹58,503.73 crore from ₹53,099.22 crore in the prior year, while standalone net profit after tax increased to ₹20,051.34 crore from ₹17,352.19 crore. On a consolidated basis, total income from operations reached ₹1,15,443.61 crore versus ₹1,06,501.62 crore in the previous year, with consolidated net profit after tax rising to ₹33,625.34 crore from ₹30,514.40 crore.

Key Balance Sheet Metrics

As at March 31, 2026, Power Finance Corporation's standalone net worth stood at ₹1,02,531.94 crore, up from ₹90,936.87 crore a year earlier. The company's loan book reached ₹5,80,115 crore, reinforcing its position as India's largest renewable financier. The standalone debt-equity ratio improved to 4.75 from 5.12, while outstanding debt stood at ₹4,88,516.02 crore versus ₹4,65,763.08 crore in the prior year.

Dividend Declaration

Alongside the results, the Board recommended a final dividend of ₹3.65 per equity share (at 30.5% on paid-up equity share capital of ₹10 each) for FY 2025-26, subject to shareholder approval at the ensuing Annual General Meeting. This is in addition to interim dividends of ₹14.60 per equity share already declared and paid during the year. The final dividend, if approved, will be paid within the statutory period of 30 days from the date of AGM approval. Dividend payments will be made exclusively through electronic mode, as the provision for remitting dividends via physical instruments such as cheques or warrants has been discontinued.

Shareholder Action Required

Shareholders are advised to update their bank account details to enable seamless credit of dividends. For shares held in demat form, shareholders should contact their Depository Participant and register or update bank details in their demat account. For shares held in physical form, shareholders should contact the Company's RTA and register or update their KYC and bank account details in their folio by submitting the requisite documents.

Meeting Details

The Board meeting was held on May 13, 2026. The company also scheduled an Investor Meet on the same day to discuss the annual financial performance with the investor and analyst community. The newspaper publication of the annual audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2026 was scheduled on May 15, 2026.

Source: Power Finance Corporation Ltd / INE134E01011

REC Limited has disclosed the outcome of its Board of Directors meeting held on May 16, 2026. The Board reserved the proposal for the merger of REC into Power Finance Corporation Limited for the approval of the Hon'ble President of India. This decision was taken pursuant to Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, and follows the earlier board meeting notice dated May 13, 2026.

Board Decision on REC-PFC Merger

At the meeting, the Board of Directors took key decisions regarding the proposed merger of REC into PFC. The Board authorized the Chairman and Managing Director (CMD) of REC to make an application to, and seek the approval of, the Hon'ble President of India for the proposed merger.

The share exchange ratio will be determined by valuers duly appointed for this purpose. The merger is subject to maintaining the merged entity's status as a 'Government Company', including by way of issuance of necessary securities to, or infusion of capital by, the Central Government, in accordance with applicable law.

Merger Structure and Legal Framework

The proposed merger is being pursued under Sections 230-232 of the Companies Act, 2013. Upon the merger being duly approved under applicable law and made effective, all the assets and liabilities of REC shall be transferred to Power Finance Corporation, and REC shall stand dissolved in accordance with the relevant provisions of the Companies Act, 2013. The merger remains subject to the final approval of the Board of Directors and receipt of all other requisite consents, approvals, and permissions.

Appointment of Chief Compliance Officer

The Board also approved the appointment of Mr. Mohammed Azaz Ali, General Manager (Finance), as Chief Compliance Officer of REC with effect from May 17, 2026. His tenure will extend until the date of his superannuation, which is June 30, 2028, in terms of RBI's Guidelines/Circulars. Mr. Ali holds a Bachelor's degree in Electronics Engineering and a Master's degree in Business Administration (Finance).

The meeting commenced at 4:00 p.m. and concluded at 4:35 p.m. The intimation was signed by Dinesh Garg, Company Secretary & Compliance Officer of REC Limited.