The appointment, recommended by the Nomination and Remuneration Committee, will be valid till November 30, 2026, or up to the date of his superannuation from PTC India, and is subject to shareholder approval. He will be liable to retire by rotation.

Malhotra will succeed outgoing MD & CEO R Balaji, who resigned with effect from June 30, 2026, citing personal reasons, as earlier intimated to exchanges.

A Mechanical Engineer and CFA charterholder, Malhotra is an alumnus of NIT Kurukshetra and IIM Lucknow. He currently serves as Executive Director and Group Chief Risk Officer at PTC India and has over 35 years of experience across the power and utilities sector, including roles at NTPC, Athena Energy Ventures, and Energy Infratech.

He has worked extensively across strategy, finance, risk management, regulatory affairs, cyber resilience, and corporate development.

PTC India Financial Services is promoted by PTC and provides financial services and related products to companies in the energy value chain.

The company's consolidated net profit tanked 21.76% to Rs 45.50 crore in Q4 FY26 as against Rs 58.16 crore in Q4 FY25. Total revenue from operations fell 22.16% year on year (YoY) to Rs 119.08 crore in Q4 FY26.

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