REC Ltd
REC is engaged in extending financial assistance across the power sector value chain and is a Systemically Important (Non-Deposit Accepting or Holding) Non-Banking Finance Company (NBFC) registered with Reserve Bank of India (RBI) as an Infrastructure Finance Company (IFC).(Source : 202003-01 Annual Report Page No:146)
- Market Cap ₹ 28,913 Cr.
- Current Price ₹ 146
- High / Low ₹ 157 / 78.8
- Stock P/E 4.27
- Book Value ₹ 213
- Dividend Yield 7.51 %
- ROCE 8.67 %
- ROE 14.2 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.69 times its book value
- Stock is providing a good dividend yield of 7.51%.
- Company has been maintaining a healthy dividend payout of 40.71%
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 7.82% over past five years.
- Company might be capitalizing the interest cost
- Promoter holding has decreased over last 3 years: -5.69%
Peer comparison
Sector: Finance Industry: Finance - Term-Lending Institutions
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|
6,350 | 6,234 | 5,534 | 6,650 | 7,007 | 7,652 | 7,713 | 7,841 | 8,447 | 8,810 | 9,085 | |
608 | -18 | -380 | 870 | 330 | 1,076 | 564 | 2,297 | 771 | 626 | 835 | |
Operating Profit | 5,742 | 6,252 | 5,914 | 5,779 | 6,677 | 6,576 | 7,148 | 5,544 | 7,676 | 8,184 | 8,250 |
OPM % | 90% | 100% | 107% | 87% | 95% | 86% | 93% | 71% | 91% | 93% | 91% |
Other Income | 2 | 12 | 12 | 24 | 9 | 7 | 7 | 64 | 4 | 14 | 5 |
Interest | 3,619 | 3,779 | 4,081 | 4,161 | 4,571 | 4,714 | 4,766 | 4,940 | 5,193 | 5,411 | 5,445 |
Depreciation | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 4 | 3 | 3 | 3 |
Profit before tax | 2,123 | 2,484 | 1,843 | 1,641 | 2,113 | 1,867 | 2,386 | 664 | 2,484 | 2,784 | 2,807 |
Tax % | 31% | 30% | 30% | 24% | 29% | 29% | 30% | 29% | 26% | 21% | 20% |
Net Profit | 1,472 | 1,733 | 1,284 | 1,253 | 1,509 | 1,322 | 1,668 | 474 | 1,845 | 2,197 | 2,258 |
EPS in Rs | 7.45 | 8.77 | 6.50 | 6.34 | 7.64 | 6.70 | 8.44 | 2.40 | 9.34 | 11.13 | 11.43 |
Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
4,882 | 6,667 | 8,379 | 10,508 | 13,634 | 17,223 | 20,544 | 24,125 | 24,338 | 22,658 | 25,408 | 29,942 | 34,183 | |
126 | 169 | 179 | 346 | 365 | 573 | 1,149 | 1,680 | 1,887 | 3,379 | 1,702 | 3,981 | 4,530 | |
Operating Profit | 4,756 | 6,499 | 8,200 | 10,162 | 13,270 | 16,650 | 19,395 | 22,445 | 22,451 | 19,279 | 23,705 | 25,961 | 29,653 |
OPM % | 97% | 97% | 98% | 97% | 97% | 97% | 94% | 93% | 92% | 85% | 93% | 87% | 87% |
Other Income | 55 | 80 | 153 | 46 | 4 | 6 | 6 | 4 | 23 | 18 | 33 | 72 | 87 |
Interest | 2,887 | 3,896 | 4,851 | 6,379 | 8,083 | 10,035 | 11,840 | 14,282 | 13,462 | 13,333 | 15,639 | 18,991 | 20,989 |
Depreciation | 1 | 2 | 3 | 3 | 4 | 5 | 8 | 20 | 40 | 7 | 8 | 12 | 12 |
Profit before tax | 1,922 | 2,681 | 3,499 | 3,826 | 5,186 | 6,617 | 7,552 | 8,147 | 8,972 | 5,958 | 8,090 | 7,030 | 8,739 |
Tax % | 34% | 25% | 26% | 26% | 26% | 28% | 29% | 30% | 30% | 25% | 29% | 29% | |
Net Profit | 1,274 | 2,022 | 2,585 | 2,839 | 3,833 | 4,741 | 5,344 | 5,691 | 6,313 | 4,451 | 5,741 | 4,972 | 6,774 |
EPS in Rs | 7.42 | 10.24 | 13.09 | 14.37 | 19.41 | 24.01 | 27.06 | 28.82 | 31.97 | 22.54 | 29.07 | 25.18 | 34.30 |
Dividend Payout % | 30% | 32% | 29% | 26% | 21% | 20% | 20% | 30% | 30% | 41% | 38% | 44% |
Compounded Sales Growth | |
---|---|
10 Years: | 16% |
5 Years: | 8% |
3 Years: | 7% |
TTM: | 18% |
Compounded Profit Growth | |
---|---|
10 Years: | 9% |
5 Years: | -1% |
3 Years: | -8% |
TTM: | 18% |
Stock Price CAGR | |
---|---|
10 Years: | 3% |
5 Years: | 12% |
3 Years: | 5% |
1 Year: | 27% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 17% |
3 Years: | 15% |
Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Dec 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
859 | 987 | 987 | 987 | 987 | 987 | 987 | 987 | 1,975 | 1,975 | 1,975 | 1,975 | 1,975 | |
Reserves | 5,335 | 10,117 | 11,840 | 13,636 | 16,543 | 19,816 | 24,085 | 27,906 | 31,696 | 30,613 | 32,571 | 33,422 | 40,103 |
Borrowings | 44,936 | 55,948 | 70,040 | 90,058 | 107,762 | 126,173 | 150,979 | 169,212 | 167,852 | 204,367 | 244,249 | 286,289 | 313,519 |
4,832 | 2,542 | 3,703 | 3,947 | 5,277 | 5,968 | 7,404 | 8,840 | 8,723 | 5,416 | 19,659 | 25,345 | 24,108 | |
Total Liabilities | 55,962 | 69,594 | 86,570 | 108,629 | 130,570 | 152,944 | 183,456 | 206,945 | 210,245 | 242,370 | 298,454 | 347,030 | 379,706 |
57 | 67 | 66 | 71 | 72 | 73 | 110 | 254 | 355 | 132 | 165 | 166 | 163 | |
CWIP | 27 | 27 | 3 | 8 | 9 | 10 | 10 | 78 | 166 | 129 | 199 | 288 | 405 |
Investments | 1,005 | 910 | 837 | 733 | 638 | 1,690 | 1,596 | 2,352 | 2,617 | 2,948 | 2,463 | 2,386 | 3,338 |
54,874 | 68,590 | 85,665 | 107,817 | 129,851 | 151,170 | 181,740 | 204,261 | 207,108 | 239,162 | 295,627 | 344,190 | 375,800 | |
Total Assets | 55,962 | 69,594 | 86,570 | 108,629 | 130,570 | 152,944 | 183,456 | 206,945 | 210,245 | 242,370 | 298,454 | 347,030 | 379,706 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-9,997 | -12,681 | -12,757 | -15,825 | -20,059 | -17,244 | -23,898 | -13,278 | 6,805 | -32,510 | -35,866 | -32,712 | |
135 | 83 | 79 | 140 | 152 | 136 | 151 | -756 | -101 | 46 | 457 | 121 | |
10,494 | 12,104 | 14,150 | 18,166 | 16,059 | 16,815 | 23,098 | 15,291 | -3,947 | 28,244 | 35,543 | 33,926 | |
Net Cash Flow | 633 | -494 | 1,473 | 2,481 | -3,847 | -293 | -649 | 1,257 | 2,757 | -4,220 | 134 | 1,336 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROCE % | 11% | 11% | 11% | 11% | 12% | 12% | 12% | 12% | 11% | 9% | 9% | 9% |
Debtor Days | 0 | 2 | 1 | 1 | 1 | 1 | 2 | 4 | 7 | 2 | 2 | 1 |
Inventory Turnover | 4.76 | 5.06 | 0.31 |
Documents
Add documentRecent announcements
- Fixation Of Record Date For The Payment Of 2Nd Interim Dividend For FY 2020-21, If Any, Declared By The Board Of Directors. 3 Mar
- Board Meeting Intimation for Proposals For Market Borrowing Programme For FY 2021-22 And Payment Of 2Nd Interim Dividend For FY 2020-21. 3 Mar
- Issue Of US$ 500 Million 2.25 Per Cent Notes By REC Limited. 23 Feb
- Inadvertent Trade In Equity Shares Of REC By A Designated Person, During Period Of Closure Of Trading Window. 18 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 9 Feb
View all
Annual reports
- Financial Year 2020 from bse
- Financial Year 2019 from bse
- Financial Year 2018 from bse
- Financial Year 2017 from bse
- Financial Year 2016 from bse
- Financial Year 2015 from bse
- Financial Year 2014 from bse
- Financial Year 2013 from bse
- Financial Year 2013 from nse
- Financial Year 2012 from bse
- Financial Year 2012 from nse
- Financial Year 2011 from bse
- Financial Year 2011 from nse
- Financial Year 2010 from bse
- Financial Year 2010 from nse
- Financial Year 2009 from nse