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REC Ltd.

FinanceFinance Term Lending

www.recindia.nic.in BSE: 532955NSE: RECLTD

₹316.50BSE0.25%

07 Sep, 4:01 PM

₹316.50

₹83.34K Cr

5.20

0.94

20.09%

₹321.30

₹316.20

₹390.50

₹304.10

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Price Performance

Peer Comparison

Name
POWER FINAN PFC	353.40	4.48	1,16,625.60	5.25	8,997.92	0.18%	28,526.86	-0.04%	10.05
REC Ltd. RECLTD	316.50	5.20	83,341.54	5.86	4,192.76	-6.11%	14,434.92	-2.58%	9.71
IFCI LTD IFCI	102.62	158.51	27,649.05	0.00	60.27	-3.46%	327.06	-19.68%	7.56
TOURISM FINA TFCILTD	140.75	76.12	6,516.40	0.43	18.38	-8.25%	51.00	-17.46%	10.45
SATIN SATIN	216.25	5.86	2,388.93	0.00	122.65	171.94%	762.14	8.39%	12.15
TRU TRU	4.09		48.61	0.00	-10.58	-16.29%	11.27	-62.55%	3.48
IRFC IRFC	83.08

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Sep 2023	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	11,671.87	13,078.66	13,682.43	14,271.92	15,333.54	14,816.59	15,152.67	15,017.70	14,563.82	14,434.92
Expenses	-508.63	717.05	97.33	262.61	1,083.58	216.69	476.10	654.56	1,231.22	446.90
	12,180.50	12,361.61	13,585.10	14,009.31	14,249.96	14,599.90	14,676.57	14,363.14	13,332.60	13,988.02
	104.36%	94.52%	99.29%	98.16%	92.93%	98.54%	96.86%	95.64%	91.55%	96.90%
	13.02	13.78	23.88	14.99	14.83	7.39	9.71	22.62	19.57	34.57
Interest	7,349.77	8,020.25	8,505.61	8,837.02	8,768.41	8,934.18	9,130.68	9,242.53	8,930.74	8,747.50
	6.14	5.92	5.98	6.31	6.49	6.70	6.66	6.80	6.89	6.79
	4,837.61	4,349.22	5,097.39	5,180.97	5,489.89	5,666.41	5,548.94	5,136.43	4,414.54	5,268.30
	21.66%	20.44%	20.79%	21.32%	21.49%	21.19%	20.44%	21.10%	23.55%	20.42%
	3,789.90	3,460.19	4,037.72	4,076.35	4,309.98	4,465.71	4,414.93	4,052.44	3,375.08	4,192.76
	14.39	13.14	15.33	15.48	16.37	16.96	16.77	15.39	12.82	15.92

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
Operating Income	39,269.05	39,478.26	47,504.75	56,366.55	59,584.16
Operating Income (Net)	39,269.05	39,478.26	47,504.75	56,366.55	59,584.16
EXPENDITURE :
Employee Cost	180.84	204.10	238.20	268.13	271.51
Operating & Establishment Expenses	100.81	85.11	202.57	208.20	339.62
Administrations & Other Expenses	70.41	78.53	105.62	123.82	108.73
Provisions and Contingencies	4,472.70	1,489.15	455.76	1,553.68	1,850.26
	4,824.76	1,856.89	1,002.15	2,153.83	2,570.12
Operating Profit (Excl OI)	34,444.29	37,621.37	46,502.60	54,212.72	57,014.04
	70.15	41.90	1,446.06	67.48	44.19
	34,514.44	37,663.27	47,948.66	54,280.20	57,058.23
Interest	22,053.86	23,741.34	29,964.73	34,138.03	36,246.57
	18.24	24.26	23.99	24.70	27.05
Profit Before Taxation & Exceptional Items	12,442.34	13,897.67	17,959.94	20,117.47	20,784.61
Exceptional Income / Expenses					-18.28
	12,430.53	13,897.67	17,959.94	20,117.47	20,766.33
Provision for Tax	2,394.84	2,730.69	3,814.48	4,233.24	4,458.16
	10,035.69	11,166.98	14,145.46	15,884.23	16,308.17
Extra items				0.00	0.00
Consolidated Net Profit	10,035.69	11,166.98	14,145.46	15,884.23	16,308.17
Profit Balance B/F	4,606.01	7,186.05	10,313.78	13,872.66	16,067.34
Appropriations	14,641.70	18,353.03	24,459.24	29,756.89	32,375.51
Equity Dividend %	153.00%	126.00%	160.00%	180.00%	185.50%
	50.82	42.41	53.72	60.32	61.93
Adjusted EPS	38.11	42.41	53.72	60.32	61.93

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	2,533.32	3,191.62	3,191.62	3,191.62	3,191.62
Total Reserves	48,780.78	54,928.89	66,158.62	75,184.44	81,862.79
Reserve excluding Revaluation Reserve	48,780.78	54,928.89	66,158.62	75,184.44	81,862.79
	51,314.10	58,120.51	69,350.24	78,376.06	85,054.41
Secured Loans	40,540.79	51,497.96	55,112.56	54,645.10	54,097.40
Unsecured Loans	2,81,225.17	3,10,169.06	3,53,831.96	4,00,172.09	4,48,541.89
Deferred Tax Assets / Liabilities	-3,160.12	-3,307.56	-2,500.96	-2,868.70	-3,539.59
Other Long Term Liabilities			24,624.99	25,013.90	36,735.48
Long Term Provisions	3,187.56	2,733.86	57.35	66.77	71.25
Total Non-Current Liabilities	3,21,793.40	3,61,093.32	4,31,125.90	4,77,029.16	5,35,906.43
Trade Payables	36.48	41.68	97.90	133.87	179.70
Other Current Liabilities	26,350.91	26,428.51	8,346.60	14,597.90	2,863.34
Short Term Borrowings	11,276.71	19,122.74	36,622.98	41,425.40	12,085.90
Short Term Provisions	46.48	85.81	3,363.85	70.74	528.63
Total Current Liabilities	37,710.58	45,678.74	48,431.33	56,227.91	15,657.57
Total Liabilities	4,10,818.09	4,64,892.59	5,48,907.47	6,11,633.13	6,36,618.41
Loans (Non - Current Assets)	3,71,930.54	4,22,083.91	4,99,192.05	5,59,088.08	5,79,243.08
Gross Block	696.53	723.99	730.93	736.87	740.97
Less: Accumulated Depreciation	68.21	83.19	99.43	109.04	126.45
Net Block	628.32	640.80	631.50	627.83	614.52
Capital Work in Progress	6.07	2.72	23.59	76.01	127.71
Non Current Investments	1,902.16	2,737.82	5,237.04	6,517.64	9,597.16
Long Term Investment	1,902.16	2,737.82	5,237.04	6,517.64	9,597.16
Long Term Loans & Advances	27,714.22	27,364.52	300.96	398.98	269.45
Other Non Current Assets			34,663.74	38,988.71	38,892.47
Total Non-Current Assets	4,02,181.31	4,52,829.77	5,40,048.88	6,05,698.26	6,28,745.37
Currents Investments	288.28	432.18	115.28	156.00	234.29
Sundry Debtors	94.55	113.00	153.82	235.13	293.21
Cash and Bank	2,659.95	2,395.61	2,939.49	2,343.37	1,611.09
Other Current Assets	5,513.77	9,002.59	2,329.88	3,188.40	5,708.21
Short Term Loans and Advances	75.85	114.79	3,299.92	8.09	10.70
Total Current Assets	8,632.40	12,058.17	8,838.39	5,930.99	7,857.50
Net Current Assets (Including Current Investments)	-29,078.18	-33,620.57	-39,592.94	-50,296.92	-7,800.07
Total Assets	4,10,818.09	4,64,892.59	5,48,907.47	6,11,633.13	6,36,618.41
Contingent Liabilities	4,316.70	3,694.04	6,589.46	8,747.99	6,941.38
Total Debt	3,33,042.67	3,80,789.76	4,45,567.50	4,96,242.59	5,14,725.19
	257.00	218.60	261.25	295.52	320.88
Adjusted Book Value	192.75	218.60	261.25	295.52	320.88

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	12,430.53	13,897.67	17,959.94	20,117.47	20,766.33
Adjustment	3,959.80	1,034.09	-2,757.89	-1,165.81	-515.98
Changes In working Capital	-14,130.73	-49,617.20	-69,652.93	-53,783.20	-10,663.10
Cash Flow after changes in Working Capital	2,259.60	-34,685.44	-54,450.88	-34,831.54	9,587.25
Cash Flow from Operating Activities	-818.53	-37,359.77	-57,722.64	-39,064.08	5,971.57
Cash Flow from Investing Activities	-287.44	-942.95	-1,830.97	-1,302.04	-3,307.66
Cash Flow from Financing Activitie	67.72	38,122.84	59,587.82	40,033.60	-2,375.02
Net Cash Inflow / Outflow	-1,038.25	-179.88	34.21	-332.52	288.89
Opening Cash & Cash Equivalents	1,179.24	140.99	-38.90	-4.69	-337.21
Closing Cash & Cash Equivalent	140.99	-38.89	-4.69	-337.21	-48.32

Ratios

Valuation

5.20

0.94

10.56

1.42

60.90

336.81

Profitability

20.09

9.71

2.61

95.69

27.37

Leverage & Liquidity

6.05

0.50

1.57

Returns

5.86

0.10

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
	52.63	52.63	52.63	52.63	52.63	52.63	52.63	52.63	52.63
	35.16	35.53	35.68	35.32	34.71	33.88	32.73	32.19	32.79
	12.20	11.84	11.68	12.05	12.65	13.49	14.64	15.18	14.57
	47.37	47.37	47.37	47.37	47.37	47.37	47.37	47.37	47.37
No. of Shareholders	10,33,684	10,40,888	10,41,317	10,82,798	11,26,511	11,54,542	11,79,931	12,08,647	11,75,194

Corporate Actions

Showing: All

Date	Type	Details	Ex-Date	Record Date
2026-07-31	AGM
2026-07-24	Ex Dividend	Rs.4.2500 per share(42.5%)Interim Dividend	2026-07-31	2026-07-31
2026-07-21	Board Meeting	Quarterly Results & Interim Dividend

Insider Trading

Date	Person	Category	Transaction Type	Shares	Value (₹)

No insider trading data available.

Sector Overview

FinanceFinance Term Lending

REC Ltd. operates in the Finance sector under the Finance Term Lending industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

10 members across the board and senior leadership

Dinesh Garg

Company Secretary & Compliance Officer

—

Jitendra Srivastava

Chairman & Managing Director

₹37.50 L

Mar '26

Thangarajan Subash Chandira Bosh

Whole Time Director - Projects

₹36.07 L

Mar '26

Rajesh Kumar

Whole Time Director - Finance & Chief Financial Officer

—

Shashank Misra

Government Nominee Director

—

Rajesh Kumar Agarwal

Nominee Director

—

Kanchiappan Ghayathri Devi

Non Executive Independent Director

—

Anil Kumar Gupta

Non Executive Independent Director

—

Poonam Chauhan

Non Executive Independent Director

—

Mohan Lal Kumawat

Executive Director

—

RECLTD Latest News

News

6 of 6 articles

EQUITY7 Sept 2026 · 17:46

REC informs about credit rating

COMPANY26 Aug 2026 · 14:39

REC’s arm incorporates subsidiary companies

The said companies are also subsidiary companies of REC

COMPANY22 Jul 2026 · 10:30

REC’s arm incorporates wholly owned subsidiary

Dharashiv Power Transmission has been incorporated for establishment of 400 kV GIS Solapur/Paranda Switching Station (Dist. - Dharashiv)

EQUITY20 Jul 2026 · 12:05

REC surges as its arm incorporates wholly owned subsidiaries

Beed Parli Power Transmission has been incorporated on July 17, 2026 for establishment of 765 kV AIS Parli (District - Beed)

COMPANY20 Jul 2026 · 11:57

REC’s arm incorporates wholly owned subsidiaries

Beed Parli Power Transmission has been incorporated on July 17, 2026 for establishment of 765 kV AIS Parli (District - Beed)

COMPANY13 Jul 2026 · 10:59

REC’s arm incorporates wholly owned subsidiary

Nawada Durgapur Power Transmission has been incorporated for ERES-47: Nawada - Durgapur - Jeerat (New) 76SkV corridor

RECLTD

₹316.50

-0.25%