PFC Independent Director Resigns to Contest Elections

Power Finance Corporation (PFC) has announced that Independent Director Shri Bhaskar Bhattacharya has resigned, effective April 2, 2026.

Mr. Bhattacharya cited his upcoming candidature for the West Bengal Assembly elections as the reason for his departure, aiming to avoid any potential conflict of interest. He also confirmed that he holds no directorships in any other listed entities as of his resignation date.

Originally appointed as a Non-Official Independent Director on December 23, 2021, Mr. Bhattacharya's initial three-year term concluded on December 23, 2024. He was subsequently re-appointed. His current resignation is linked to his political aspirations for the Serampore constituency in the upcoming West Bengal elections.

The vacancy created by Mr. Bhattacharya's resignation will need to be filled by the company.

PFC's Market Position

Power Finance Corporation operates in the power and infrastructure financing sector, often compared with peers like REC Ltd. and Indian Renewable Energy Development Agency Ltd. (IREDA).

PFC generally demonstrates stronger financial performance than REC, outperforming on key metrics such as sales growth, profit, return on equity (ROE), and dividend yield. Historically, PFC's stock price performance has also been more robust than IREDA's over three-year and five-year periods.