REC AGM 2026: FY26 accounts adopted, 7 directors named

REC closes 57th AGM with FY26 approvals

REC Limited held its 57th Annual General Meeting (AGM) on August 25, 2026, through video conferencing and other audio-visual means. The meeting was chaired by Jitendra Srivastava, the Chairman and Managing Director. Shareholders approved the adoption of the audited standalone and consolidated financial statements for the year ended March 31, 2026. The AGM also saw voting on several board appointments under the special business segment. The proceedings concluded at 12:07 pm.

Audit status and CAG observations

The statutory auditors, Kailash Chand Jain & Co. and SCV & Co. LLP, issued an unqualified report on REC’s standalone and consolidated financial statements for FY26. In addition, the Comptroller and Auditor General (CAG) of India issued ‘Nil’ comments on the audited figures. Together, these points indicate that the financial statements were accepted without qualifications or adverse remarks from the auditors and the CAG. The approvals formed part of the ordinary business placed before shareholders.

Director appointments approved at the AGM

During the special business segment, shareholders approved a set of appointments and re-appointments to the board. The resolutions included the appointment of Thangarajan Subash Chandira Bosh as Director (Projects). Rajesh Kumar was approved as Director (Finance). Rajesh Kumar Agarwal was appointed as Nominee Director of Power Finance Corporation Limited.

Shareholders also passed special resolutions to appoint three independent directors: Dr. Anil Kumar Gupta, Dr. Kanchiappan Ghayathri Devi, and Smt. Poonam Chauhan. Separately, Shri Shashank Misra was re-appointed as a Government Nominee Director upon retiring by rotation. These changes were among the key governance outcomes from the AGM.

ESG disclosure: third report for FY26

At the AGM, the Chairman released REC’s third ESG report for FY26. The disclosure highlights the company’s continued reporting on environmental, social, and governance themes alongside the annual financial reporting cycle. The AGM format allowed shareholders to take note of the ESG report’s release as part of the broader FY26 communication.

Shareholder discussion themes: PFC merger, CSR, borrowing

Shareholders engaged with management on several topics during the virtual meeting. Among them was the proposed merger with Power Finance Corporation Limited. Investors also raised queries around CSR initiatives and the company’s borrowing strategies.

The questions indicate areas where shareholders are seeking clarity on strategy and capital management. The AGM record reflects these themes as part of the interaction between shareholders and the management team.

AGM logistics: notice, e-voting window, cut-off date

REC had announced the AGM for Tuesday, August 25, 2026 at 11:00 AM IST via VC/OAVM. The company published the notice of the AGM and e-voting information in Business Standard (English and Hindi editions) on July 31, 2026. Remote e-voting was scheduled to open on Saturday, August 22, 2026 at 09:00 hours and close on Monday, August 24, 2026 at 17:00 hours.

The cut-off date for voting eligibility was Tuesday, August 18, 2026. Members seeking to ask questions during the AGM were required to register by sending a request from their registered email address to complianceofficer@recindia.com by 17:00 hours on Saturday, August 22, 2026.

Annual report access and dividend payment process

REC said the annual report for FY 2025-26, which includes the AGM notice, was made available on the company website at https://recindia.com/annual-reports. It was also available on the e-voting service provider NSDL’s website at https://evoting.nsdl.com. The notice and annual report were sent by email to registered members, and those without registered email IDs were provided a web link to access the annual report.

The AGM agenda referenced noting the payment of interim dividends and the declaration of a final dividend for FY 2025-26, as part of the ordinary business items. The company also reiterated mandatory electronic dividend payments and offered a special transfer window for physical shares until February 4, 2027.

Other recent disclosures: subsidiaries and SPV transfer

In the days around the AGM, REC disclosed incorporation of two wholly owned subsidiaries: Vikramshila Power Transmission and Alkud II Power Transmission, on August 24-25, 2026. Separately, it reported the transfer of Vizag Power Transmission Ltd to Adani Energy Solutions for ₹5.66 crore. The company also made an “intimation of sale and transfer of project specific SPV/Subs...” as part of its exchange disclosures.

REC also disclosed a change in management, with Shri Somya Kant promoted to Executive Director effective August 3, 2026, subject to charge.

Key numbers and market snapshots

REC’s FY 2025-26 annual report highlighted a net profit of ₹16,282 crore, an outstanding loan book of ₹583,000 crore, and disbursements of ₹211,189 crore. On the market side, exchange data points in the disclosures showed RECLTD trading at ₹323.70 as on 25-Aug-2026 13:51:29 IST, and at ₹325.80 as on 25-Aug-2026 15:03:51 IST.

What investors may track next

REC had also informed the exchange that a board meeting was scheduled on 24/07/2026 to consider and approve financial results for the quarter ended June 30, 2026 and a first interim dividend, if any, for FY 2026-27. After the AGM’s approvals, investors typically watch for follow-through on board-level decisions and subsequent regulatory filings. The AGM discussion topics, including the proposed merger with Power Finance Corporation Limited and borrowing strategies, remain key areas that shareholders raised directly with management. Any next steps would be expected through formal announcements and filings.