REC Ltd

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

₹ 339 -0.15%
18 Aug 2:25 p.m.
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 Offerings [1] [2]
The company provides long-term loans and other financial products to State, Centre, and Private Sector Companies to create assets and meet other requirements in the country. REC finances the following sectors:
a) Power Sector Infrastructure: Long-term financing for generation, transmission, distribution, and coal mines.
b) Renewable Energy & New Technologies: Financing for solar, wind, biomass, pumped storage, green hydrogen, BESS, smart meters, e-mobility, and other emerging technologies.
c) Infrastructure & Logistics Sector: Financing for metros, roads & highways, airports, IT & communication infrastructure, ports & waterways, logistics, healthcare, water and sanitation projects.

Website BSE NSE
  • Market Cap ₹ 89,385 Cr.
  • Current Price ₹ 339
  • High / Low ₹ 390 / 304
  • Stock P/E 5.59
  • Book Value ₹ 321
  • Dividend Yield 5.45 %
  • ROCE 9.71 %
  • ROE 20.1 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 1.06 times its book value
  • Stock is providing a good dividend yield of 5.42%.
  • 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 10.9% over past five years.
  • Company might be capitalizing the interest cost

* 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

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Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 BSE PSU

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
11,104 11,688 12,052 12,677 13,079 13,682 14,272 15,334 14,737 15,153 15,051 14,564 14,435
Interest 7,049 7,350 7,654 7,896 8,020 8,506 8,837 8,768 8,934 9,131 9,243 8,931 8,748
332 -492 240 -425 717 97 263 1,084 217 476 655 1,231 447
Financing Profit 3,723 4,831 4,158 5,206 4,341 5,079 5,172 5,482 5,587 5,546 5,154 4,402 5,241
Financing Margin % 34% 41% 34% 41% 33% 37% 36% 36% 38% 37% 34% 30% 36%
4 13 20 29 14 24 15 15 87 10 -11 20 35
Depreciation 6 6 6 6 6 6 6 6 7 7 7 7 7
Profit before tax 3,721 4,838 4,172 5,229 4,349 5,097 5,181 5,490 5,666 5,549 5,136 4,415 5,268
Tax % 20% 22% 21% 22% 20% 21% 21% 21% 21% 20% 21% 24% 20%
2,968 3,790 3,308 4,079 3,460 4,038 4,076 4,310 4,466 4,415 4,052 3,375 4,193
EPS in Rs 11.27 14.39 12.56 15.49 13.14 15.33 15.48 16.37 16.96 16.77 15.39 12.82 15.92
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
20,544 24,125 24,338 22,658 25,408 29,942 35,557 39,276 39,486 47,517 56,369 59,586 59,202
Interest 11,840 14,282 13,462 13,333 15,639 18,991 21,489 22,051 23,733 29,948 34,131 36,238 36,051
1,149 1,680 1,888 3,379 1,702 3,981 3,292 4,838 1,858 -366 2,153 2,568 2,809
Financing Profit 7,555 8,162 8,988 5,946 8,066 6,969 10,776 12,387 13,894 17,936 20,084 20,780 20,342
Financing Margin % 37% 34% 37% 26% 32% 23% 30% 32% 35% 38% 36% 35% 34%
6 4 24 18 33 72 15 62 28 48 58 13 53
Depreciation 8 20 40 7 8 12 11 18 24 24 25 27 27
Profit before tax 7,552 8,147 8,972 5,958 8,090 7,030 10,780 12,431 13,898 17,960 20,117 20,766 20,368
Tax % 29% 30% 30% 25% 29% 29% 22% 19% 20% 21% 21% 21%
5,344 5,691 6,313 4,451 5,741 4,972 8,378 10,036 11,167 14,145 15,884 16,308 16,035
EPS in Rs 20.30 21.61 23.98 16.90 21.80 18.88 31.82 38.11 42.41 53.72 60.32 61.93 60.90
Dividend Payout % 20% 30% 30% 41% 38% 44% 30% 30% 30% 30% 30% 30%
Compounded Sales Growth
10 Years: 9%
5 Years: 11%
3 Years: 15%
TTM: 2%
Compounded Profit Growth
10 Years: 11%
5 Years: 14%
3 Years: 14%
TTM: -5%
Stock Price CAGR
10 Years: 14%
5 Years: 25%
3 Years: 13%
1 Year: -10%
Return on Equity
10 Years: 20%
5 Years: 21%
3 Years: 21%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 987 987 1,975 1,975 1,975 1,975 1,975 1,975 2,633 2,633 2,633 2,633
Reserves 24,085 27,906 31,696 30,613 32,571 33,422 41,789 49,339 55,487 66,717 75,184 81,863
Borrowing 150,979 169,212 167,852 204,367 244,249 286,289 329,723 333,043 380,790 445,568 496,801 515,284
7,404 8,840 8,723 5,416 19,659 25,345 27,380 26,503 26,592 33,273 39,883 40,378
Total Liabilities 183,456 206,945 210,245 242,370 298,454 347,030 400,867 410,860 465,503 548,191 614,502 640,158
110 254 355 132 165 166 267 628 641 632 629 616
CWIP 10 78 166 129 199 288 336 6 3 24 76 128
Investments 1,596 2,352 2,617 2,948 2,463 2,386 1,981 2,190 3,170 5,352 6,674 9,831
181,740 204,261 207,108 239,162 295,627 344,190 398,282 408,035 461,689 542,184 607,123 629,583
Total Assets 183,456 206,945 210,245 242,370 298,454 347,030 400,867 410,860 465,503 548,191 614,502 640,158

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-23,898 -13,278 6,805 -32,510 -35,866 -32,712 -43,512 -3,910 -37,360 -57,723 -39,064 5,972
151 -756 -101 46 457 121 861 -287 -943 -1,831 -1,302 -3,308
23,098 15,291 -3,947 28,244 35,543 33,926 42,113 3,159 38,123 59,588 40,034 -2,375
Net Cash Flow -649 1,257 2,757 -4,220 134 1,336 -538 -1,038 -180 34 -333 289
Free Cash Flow -23,943 -13,537 6,601 -32,584 -35,957 -32,812 -43,586 -3,958 -37,377 -57,756 -39,070 5,948
CFO/OP -111% -48% 42% -157% -143% -119% -126% -2% -92% -114% -64% 17%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
ROE % 23% 21% 20% 13% 17% 14% 21% 21% 20% 22% 22% 20%

Insights

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Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Outstanding Loan Book (AUM)
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Total Disbursements
₹ crore ・Standalone data
Total Sanctions
₹ crore ・Standalone data
Distribution Sector Loan Book
₹ crore ・Standalone data
Gross Credit-Impaired Assets
% ・Standalone data
Net Credit-Impaired Assets
% ・Standalone data
Renewable Energy Loan Book
₹ crore ・Standalone data
Capital Adequacy Ratio
% ・Standalone data

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63%
20.36% 20.60% 19.91% 20.43% 21.22% 21.74% 20.48% 19.16% 17.97% 16.46% 15.79% 15.76%
14.10% 14.16% 15.44% 14.68% 14.25% 13.91% 14.79% 15.51% 15.86% 16.21% 16.36% 16.98%
0.04% 0.04% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
12.87% 12.55% 11.96% 12.21% 11.84% 11.67% 12.05% 12.65% 13.48% 14.64% 15.17% 14.57%
No. of Shareholders 6,21,5786,89,1927,70,80810,33,68410,40,88810,41,31710,82,79811,26,51111,54,54211,79,93112,08,64711,75,194

* 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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