PTC India Financial Services Gets ICRA A- (Stable) Rating Reaffirmed for Debentures and Term Loans

PTC India Financial Services Limited has received credit rating updates from ICRA Limited, with key ratings reaffirmed while one short-term rating was withdrawn. The company notified stock exchanges about these developments on March 24, 2026, in compliance with regulatory requirements.

Rating Updates Overview

ICRA Limited provided rating updates for multiple instruments of PTC India Financial Services on March 23, 2026. The rating agency took different actions across the company's various financial instruments.

Instrument	Rating Update	Action Taken
Non-Convertible Debenture	ICRA A- (stable)	Reaffirmed
Fund based-Term Loan	ICRA A- (stable)	Reaffirmed
Fund based-Short Term	ICRA A2+	Reaffirmed and Withdrawn

Detailed Rating Information

The company provided comprehensive details of the rating updates as per SEBI Master Circular requirements. Two non-convertible debentures with ISINs INE560K07102 and INE560K07110 both received reaffirmed ICRA A- ratings with stable outlook.

Parameter	Non-Convertible Debentures	Term Loan	Short-Term Facility
Credit Rating	ICRA A-	ICRA A-	ICRA A2+
Outlook	Stable	Stable	No Outlook
Rating Action	Reaffirm	Reaffirm	Rating Withdrawn
Date of Rating	23-03-2026	23-03-2026	23-03-2026
Verification Status	Verified	Verified	Verified

Regulatory Compliance

PTC India Financial Services informed the stock exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was sent to both BSE Limited and National Stock Exchange of India Limited on March 24, 2026.

About the Company

PTC India Financial Services is an RBI registered NBFC promoted by PTC India Limited. The company offers customized financing solutions across infrastructure sectors with growing emphasis on diversification and sustainability. PFS has been positioning itself as an early mover in green and emerging infrastructure segments, including renewable energy and electric mobility, while managing legacy exposures in conventional segments.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.34%	-3.50%	-13.85%	-24.68%	-18.27%	+41.66%

PTC India Financial Services has successfully completed its postal ballot process for the appointment of Shri P Ramana Murthy as an Independent Director, with shareholders demonstrating overwhelming support through the remote e-voting mechanism. The company formally communicated the results to stock exchanges on February 27, 2026, in compliance with SEBI regulations.

Voting Results and Shareholder Participation

The postal ballot concluded on February 26, 2026, with significant shareholder participation across all categories. The voting results demonstrate strong confidence in the proposed appointment:

Voting Category:	Total Shares	Votes Polled	Participation (%)	Votes in Favor	Votes Against	Approval Rate (%)
Promoters and Promoter Group:	41,74,50,001	41,74,50,001	100.00	41,74,50,001	0	100.00
Public-Institutions:	4,63,67,004	3,30,93,109	71.37	3,30,93,109	0	100.00
Public-Non Institutions:	17,84,66,330	8,45,547	0.47	8,11,705	33,842	95.99
Total:	64,22,83,335	45,13,88,657	70.28	45,13,54,815	33,842	99.99

The voting process achieved a participation rate of 70.28% of outstanding shares, with 45,13,88,657 shares casting valid votes. The resolution secured 99.99% approval, with only 33,842 votes against the appointment.

E-Voting Process and Regulatory Compliance

The company conducted the postal ballot exclusively through remote e-voting, adhering to regulatory guidelines under Sections 108 and 110 of the Companies Act, 2013. The process details include:

Process Parameter:	Details
Record Date:	January 21, 2026
Total Shareholders:	1,44,837
E-voting Period:	January 28, 2026 (9:00 AM) to February 26, 2026 (5:00 PM)
E-voting Platform:	KFin Technologies Limited
Total E-voters:	444
Paid-up Value of Votes Cast:	₹4,51,38,86,570

The company published advertisements in both English and vernacular newspapers on January 28, 2026, ensuring proper communication to all eligible members about the postal ballot notice.

Scrutinizer's Report and Official Oversight

Rohit Parmar of Rohit Parmar & Associates, appointed as the scrutinizer, supervised the entire voting process and submitted the official scrutinizer's report. The report confirmed compliance with:

Companies Act, 2013 and related rules
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
MCA General Circulars and Secretarial Standards
Secretarial Standard-2 on General Meetings

The voting process was unblocked on February 26, 2026, after 5:00 PM in the presence of two independent witnesses, Mr. Rajeev Singh and Mr. Lovenish Singh, ensuring the integrity of the results.

Resolution Details and Board Strengthening

The special resolution focused on the appointment of Shri P Ramana Murthy (DIN:07815852) as an Independent Director of the company. The appointment strengthens the board's independent oversight capabilities and aligns with corporate governance requirements:

Appointment Details:	Information
Director Name:	Shri P Ramana Murthy
Director Identification Number:	07815852
Position:	Independent Director
Resolution Type:	Special Resolution
Promoter Interest:	No

The resolution was deemed passed on February 26, 2026, being the last date of the remote e-voting period. The company has uploaded the detailed voting results on its website at www.ptcfinancial.com and on KFin Technologies' e-voting platform for transparency and stakeholder access.