Overview

Detailed Summary

REC Limited is a leading Indian public sector enterprise involved in financing the entire power sector value chain. Its core business includes providing financial assistance across conventional and renewable energy projects.
REC Limited has exhibited strong financial performance, reporting its highest-ever half-yearly profits of Rs. 8,877 crores, with a significant 19% growth from the previous period. The company also recorded notable revenue growth of 12%, showcasing its financial vigor.
The company holds the prestigious Maharatna status and has a long-standing commitment to supporting India's governmental power initiatives, including pivotal schemes for power sector improvements and renewable energy promotions.
REC Limited is a significant player in the renewable energy sector, with a major share of its portfolio dedicated to this area. The company is actively involved in creating India's Green Energy Corridor, demonstrating a strong commitment to sustainable energy solutions.
With a strategic expansion into non-power infrastructure sectors, REC Limited is poised to significantly contribute to diversified infrastructure growth in India, underlining its ongoing evolution and alignment with national development goals.

Sector: Finance
Industry: Financial Institution
Market Cap: 93,624 Cr
Volatility: High Risk
P/E Ratio: 5.7
Industry P/E: 19.2
PEG Ratio: 1.1
P/B Ratio: 1.1
52W High: 408.80
52W Low: 304.10

Sales CAGR

1Y: 18.63%
3Y: 12.63%
5Y: 13.44%
10Y: 10.04%

Profit CAGR

1Y: 12.29%
3Y: 16.08%
5Y: 26.32%
10Y: 12.09%

ROE

TTM: 19.17%
3Y: 20.01%
5Y: 19.81%
10Y: 18.62%

ROCE

TTM: 9.50%
3Y: 9.25%
5Y: 9.16%
10Y: 9.34%

Technicals

‌

Forecasts

Unlock more with professional

Analyst Target, Price, EPS and Revenue Projections
Get In-depth insights on EPS and Revenue forecasts

Peers

Financial Services Financial Services Finance Financial Institution

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PFC		408.55	1,34,974 Cr	5.21	1.02	4.54	19.49	9.79	2.70
IRFC		88.73	1,15,957 Cr	16.54	2.04	1.18	12.35	5.46	1.36
RECLTD		352.60	92,821 Cr	5.69	1.09	5.26	19.17	9.50	2.55
HUDCO		207.00	41,630 Cr	10.32	1.89	2.91	18.36	7.42	2.42
IREDA		122.10	34,301 Cr	18.30	2.49	1.11	13.59	7.89	2.00
IFCI		74.54	20,083 Cr	111.03	2.25	0.00	2.02	7.12	1.64
TFCILTD		80.49	3,198 Cr	37.42	3.12	0.87	8.95	11.18	4.39
Median: 7 Co.	—	122.10	41,630 Cr	16.54	2.04	1.18	13.59	7.89	2.42

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

Ask AI

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	12,052	12,677	13,079	13,682	14,272	15,334	14,737	15,153	15,018	14,564
Expenses	240	-425	717	97	263	1,084	217	476	655	1,231
Interest	7,654	7,896	8,020	8,506	8,837	8,768	8,934	9,131	9,243	8,931
Financing Profit	4,158	5,206	4,341	5,079	5,172	5,482	5,587	5,546	5,121	4,402
Financing Margin %	34.50	41.07	33.19	37.12	36.24	35.75	37.91	36.60	34.10	30.22
Other Income	20	29	14	24	15	15	87	9.71	23	20
Depreciation	6.00	6.02	5.92	5.98	6.31	6.49	6.70	6.66	6.80	6.89
Profit Before Tax	4,172	5,229	4,349	5,097	5,181	5,490	5,666	5,549	5,136	4,415
Tax %	20.69	22.00	20.44	20.79	21.32	21.49	21.19	20.44	21.10	23.55
Net Profit	3,308	4,079	3,460	4,038	4,076	4,310	4,466	4,415	4,052	3,375
EPS in Rs	12.56	15.36	13.14	15.33	15.48	16.24	16.96	16.77	15.39	12.69
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	24,195	22,652	25,399	29,930	35,553	39,269	39,478	47,505	56,367	58,025
Expenses	1,888	3,380	1,703	3,983	3,294	4,828	1,865	-360	2,161	1,660
Interest	13,462	13,333	15,639	18,991	21,489	22,051	23,733	29,948	34,131	35,045
Financing Profit	8,845	5,939	8,056	6,955	10,770	12,390	13,880	17,917	20,075	21,320
Financing Margin %	36.56	26.22	31.72	23.24	30.29	31.55	35.16	37.72	35.61	36.74
Other Income	166	25	42	86	21	58	42	66	67	140
Depreciation	40	6.93	8.29	12	11	18	24	24	25	25
Profit Before Tax	8,971	5,958	8,090	7,030	10,780	12,431	13,898	17,960	20,117	21,435
Tax %	29.64	25.30	29.04	29.27	22.28	19.27	19.65	21.24	21.04	21.20
Net Profit	6,313	4,451	5,741	4,972	8,378	10,036	11,167	14,145	15,884	16,890
EPS in Rs	—	—	21.80	18.89	31.84	33.29	39.95	53.58	60.19	61.81
Dividend Payout %	30.18	40.59	37.84	43.69	29.96	40.28	29.80	29.86	29.90	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	987	1,975	1,975	1,975	1,975	1,975	1,975	2,633	2,633	2,633
Reserves	27,906	31,696	30,613	32,571	33,422	41,789	49,339	55,487	66,717	75,743
Borrowings	1,45,245	1,49,792	2,04,367	2,44,249	2,86,289	3,29,723	3,33,043	3,80,790	4,45,568	4,96,243
Other Liabilities	32,807	26,782	5,416	19,659	25,345	27,380	26,503	26,592	33,273	39,883
Total Liabilities	2,06,945	2,10,245	2,42,370	2,98,454	3,47,030	4,00,867	4,10,860	4,65,503	5,48,191	6,14,502
Fixed Assets	254	355	132	165	166	267	628	641	632	628
CWIP	78	166	129	199	288	336	6.07	2.72	24	76
Investments	0.00	0.00	2,948	2,463	2,386	1,981	2,190	3,170	5,352	6,674
Other Assets	2,06,613	2,09,724	2,39,162	2,95,627	3,44,190	3,98,282	4,08,035	4,61,689	5,42,184	6,07,124
Total Assets	2,06,945	2,10,245	2,42,370	2,98,454	3,47,030	4,00,867	4,10,860	4,65,503	5,48,191	6,14,502

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-13,278	6,805	-32,510	-35,866	-32,712	-43,512	-819	-37,360	-57,723	-39,064
Cash from Investing Activity	-756	-101	46	457	121	861	-287	-943	-1,831	-1,302
Cash from Financing Activity	15,291	-3,947	28,244	35,543	33,926	42,113	68	38,123	59,588	40,034
Net Cash Flow	1,257	2,757	-4,220	134	1,336	-538	-1,038	-180	34	-333

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	52.63%	52.63%	52.63%	52.63%	52.63%	52.63%	52.63%	52.63%	52.63%	52.63%	52.63%	52.63%
FIIs	21.90%	20.36%	20.60%	19.92%	20.43%	21.23%	21.73%	20.48%	19.16%	17.97%	16.46%	15.79%
DIIs	12.05%	14.14%	14.21%	15.49%	14.73%	14.30%	13.96%	14.84%	15.55%	15.91%	16.28%	16.41%
Public	13.41%	12.87%	12.56%	11.95%	12.20%	11.84%	11.67%	12.05%	12.65%	13.49%	14.63%	15.17%
Total Shareholders	5,71,815	6,21,578	6,89,192	7,70,808	10,33,684	10,40,888	10,41,317	10,82,798	11,26,511	11,54,542	11,79,931	12,08,647

Market Transactions

Unlock more with professional

Real-time bulk & block deal transactions
Export transaction data for analysis

Projection

Unlock more with professional

Analyst Target, Price, EPS and Revenue Projections
Get In-depth insights on EPS and Revenue forecasts

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Available on Pro Plan