REC Ltd

REC Ltd Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

REC Ltd

₹ 343 1.14%
29 Nov - close price
recindia.nic.in BSE: 532955 NSE : RECLTD
About

REC is a Central Public Sector Undertaking under the Ministry of Power involved in financing projects in the complete power sector value chain from generation to distribution. [1]

Key Points

Services Offered
Loan for Generation Projects - Setting up new power generating stations based on conventional sources and renewable sources of energy.
Loan for Transmission Projects - Evacuation of power from new power generating stations and strengthening/ improvement of existing transmission systems in the designated areas.
Loan for Distribution Projects - Strengthening and improvement of the power sub-transmission and distribution system in the designated areas.
Short term loans/Medium term loans - Working capital requirements for purposes like purchase of fuel for power plant, purchase of power, purchase of material and minor equipment, system and network maintenance including repair of transformers etc. [1]

Website BSE NSE
  • Market Cap ₹ 90,293 Cr.
  • Current Price ₹ 343
  • High / Low ₹ 351 / 108
  • Stock P/E 7.09
  • Book Value ₹ 241
  • Dividend Yield 3.67 %
  • ROCE 9.14 %
  • ROE 20.4 %
  • Face Value ₹ 10.0
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Pros

  • Stock is providing a good dividend yield of 3.67%.
  • Company has delivered good profit growth of 20.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 29.9%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 11.8% over past five years.
  • Company might be capitalizing the interest cost
  • Working capital days have increased from 33.5 days to 67.6 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance - Term-Lending Institutions

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
8,810 9,085 9,212 9,551 10,048 10,037 9,633 9,497 9,956 9,782 10,243 11,088 11,688
626 835 1,072 1,179 1,155 1,065 1,440 1,175 794 45 -149 316 -492
Operating Profit 8,184 8,250 8,139 8,372 8,893 8,973 8,193 8,323 9,162 9,737 10,392 10,771 12,180
OPM % 93% 91% 88% 88% 88% 89% 85% 88% 92% 100% 101% 97% 104%
14 5 9 6 9 32 23 9 8 14 12 4 13
Interest 5,411 5,445 5,441 5,588 5,562 5,548 5,353 5,376 5,728 6,134 6,496 7,049 7,350
Depreciation 3 3 3 3 5 5 6 6 6 6 6 6 6
Profit before tax 2,784 2,807 2,704 2,787 3,335 3,452 2,857 2,950 3,436 3,610 3,901 3,721 4,838
Tax % 21% 20% 23% 19% 19% 20% 19% 17% 20% 19% 21% 20% 22%
2,197 2,258 2,078 2,269 2,692 2,773 2,301 2,454 2,732 2,915 3,065 2,968 3,790
EPS in Rs 8.34 8.57 7.89 8.62 10.22 10.53 8.74 9.32 10.38 11.07 11.64 11.27 14.39
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
10,508 13,634 17,223 20,544 24,125 24,338 22,658 25,408 29,942 35,557 39,276 39,486 42,801
346 365 572 1,149 1,680 1,888 3,379 1,702 3,981 3,292 4,838 1,858 -280
Operating Profit 10,162 13,270 16,650 19,395 22,445 22,450 19,279 23,705 25,961 32,265 34,438 37,628 43,081
OPM % 97% 97% 97% 94% 93% 92% 85% 93% 87% 91% 88% 95% 101%
46 4 6 6 4 24 18 33 72 15 62 28 43
Interest 6,379 8,083 10,035 11,840 14,282 13,462 13,333 15,639 18,991 21,489 22,051 23,733 27,029
Depreciation 3 4 5 8 20 40 7 8 12 11 18 24 24
Profit before tax 3,826 5,186 6,617 7,552 8,147 8,972 5,958 8,090 7,030 10,780 12,431 13,898 16,070
Tax % 26% 26% 28% 29% 30% 30% 25% 29% 29% 22% 19% 20%
2,839 3,833 4,741 5,344 5,691 6,313 4,451 5,741 4,972 8,378 10,036 11,167 12,739
EPS in Rs 10.78 14.56 18.01 20.30 21.61 23.98 16.90 21.80 18.88 31.82 38.11 42.41 48.37
Dividend Payout % 26% 21% 20% 20% 30% 30% 41% 38% 44% 30% 30% 30%
Compounded Sales Growth
10 Years: 11%
5 Years: 12%
3 Years: 10%
TTM: 9%
Compounded Profit Growth
10 Years: 11%
5 Years: 20%
3 Years: 31%
TTM: 24%
Stock Price CAGR
10 Years: 15%
5 Years: 36%
3 Years: 56%
1 Year: 211%
Return on Equity
10 Years: 19%
5 Years: 19%
3 Years: 21%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 987 987 987 987 987 1,975 1,975 1,975 1,975 1,975 1,975 2,633 2,633
Reserves 13,636 16,543 19,816 24,085 27,906 31,696 30,613 32,571 33,422 41,789 49,339 55,487 60,949
90,058 107,762 126,173 150,979 169,212 167,852 204,367 244,249 286,289 329,723 333,043 380,790 419,517
3,947 5,277 5,968 7,404 8,840 8,723 5,416 19,659 25,345 27,380 26,503 26,592 30,082
Total Liabilities 108,629 130,570 152,944 183,456 206,945 210,245 242,370 298,454 347,030 400,867 410,860 465,503 513,181
71 72 73 110 254 355 132 165 166 267 628 641 636
CWIP 8 9 10 10 78 166 129 199 288 336 6 3 7
Investments 733 638 1,690 1,596 2,352 2,617 2,948 2,463 2,386 1,981 2,190 3,170 3,287
107,817 129,851 151,170 181,740 204,261 207,108 239,162 295,627 344,190 398,282 408,035 461,689 509,251
Total Assets 108,629 130,570 152,944 183,456 206,945 210,245 242,370 298,454 347,030 400,867 410,860 465,503 513,181

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-15,825 -20,059 -17,244 -23,898 -13,278 6,805 -32,510 -35,866 -32,712 -43,512 -819 -37,360
140 152 136 151 -756 -101 46 457 121 861 -287 -943
18,166 16,059 16,815 23,098 15,291 -3,947 28,244 35,543 33,926 42,113 68 38,123
Net Cash Flow 2,481 -3,847 -293 -649 1,257 2,757 -4,220 134 1,336 -538 -1,038 -180

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 1 1 1 2 4 7 2 2 1 1 1 1
Inventory Days
Days Payable
Cash Conversion Cycle 1 1 1 2 4 7 2 2 1 1 1 1
Working Capital Days -92 -156 -103 -152 560 268 -3 16 9 -2 35 68
ROCE % 11% 12% 12% 12% 12% 11% 9% 9% 9% 9% 9% 9%

Shareholding Pattern

Numbers in percentages

Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63%
26.37% 26.75% 26.15% 26.82% 24.85% 24.27% 23.36% 23.41% 21.50% 21.52% 21.90% 20.36%
12.67% 12.28% 12.51% 9.48% 9.94% 9.43% 8.68% 11.95% 12.11% 11.87% 12.02% 14.10%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.04% 0.04% 0.04% 0.04% 0.04%
8.33% 8.33% 8.71% 11.06% 12.58% 13.66% 15.32% 11.97% 13.73% 13.93% 13.41% 12.87%
No. of Shareholders 3,26,2983,32,8243,42,0083,31,5463,81,9904,23,5184,67,0245,20,5075,50,0675,76,7595,71,8156,21,578

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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