About
REC Limited, together with its subsidiaries, engages in the provision of financing services for power generation, transmission, distribution, infrastructure, and logistics projects in India. The company primarily offers long, medium, and short-terms loans; debt refinancing, equity financing, financing of equipment manufacturing for power sector and coal mines; policy for funding against regulatory assets, and revolving bill payment facility services; and letter of undertaking in lieu of bank guarantee, etc. It is also involved in the implementation of distribution system strengthening works, implementation of grid/off-grid solar (PV) projects, and installation of smart meters. In addition, the company acts as the bid process coordinator for selection of transmission service provider through tariff based competitive bidding process for independent inter-state and intra-state transmission projects. It serves government entities, independent power producers, and private sector borrowers. The company was formerly known as Rural Electrification Corporation Limited and changed its name to REC Limited in October 2018. The company was incorporated in 1969 and is based in Gurugram, India. REC Limited is a subsidiary of Power Finance Corporation Limited.
Key Metrics
as of Sep 2026Market Cap83,894 Cr
P/E5.23
Div Yield5.82 %
Book Value₹321.00
52w High₹390.00
52w Low₹304.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Expenses | 367.00 | 1,071.00 | 586.00 | 404.00 | 145.00 | 1,013.00 | 219.00 | 44.00 | 684.00 | -406.00 | 227.00 | -573.00 | 213.00 |
| Other Income | 35.00 | 20.00 | 8.00 | 10.00 | 87.00 | 15.00 | 16.00 | 25.00 | 14.00 | 30.00 | 18.00 | 14.00 | 5.00 |
| Depreciation | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| Interest | 8,748.00 | 8,932.00 | 9,243.00 | 9,132.00 | 8,935.00 | 8,770.00 | 8,837.00 | 8,507.00 | 8,021.00 | 7,896.00 | 7,653.00 | 7,350.00 | 7,050.00 |
| Profit before tax | 5,209.00 | 4,397.00 | 5,116.00 | 5,553.00 | 5,647.00 | 5,385.00 | 5,110.00 | 5,040.00 | 4,326.00 | 5,148.00 | 4,114.00 | 4,807.00 | 3,712.00 |
| Tax % | 20.00 | 24.00 | 21.00 | 20.00 | 21.00 | 21.00 | 21.00 | 21.00 | 20.00 | 22.00 | 21.00 | 22.00 | 20.00 |
| Net Profit | 4,149.00 | 3,362.00 | 4,043.00 | 4,426.00 | 4,451.00 | 4,236.00 | 4,029.00 | 4,005.00 | 3,442.00 | 4,016.00 | 3,269.00 | 3,773.00 | 2,961.00 |
| EPS in Rs | 15.76 | 12.77 | 15.35 | 16.81 | 16.90 | 16.09 | 15.30 | 15.21 | 13.07 | 15.25 | 12.42 | 14.33 | 11.24 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Expenses | 2,196.00 | 1,953.00 | -545.00 | 1,746.00 | 4,734.00 | 3,152.00 | 3,837.00 | 1,591.00 | 3,240.00 | 1,456.00 | 1,422.00 | 1,110.00 |
| Other Income | 35.00 | 60.00 | 50.00 | 30.00 | 61.00 | 15.00 | 54.00 | 22.00 | 5.00 | 19.00 | 4.00 | 4.00 |
| Interest | 36,241.00 | 34,135.00 | 29,949.00 | 23,738.00 | 22,053.00 | 21,489.00 | 18,997.00 | 15,642.00 | 13,337.00 | 13,450.00 | 14,283.00 | 11,845.00 |
| Depreciation | 27.00 | 24.00 | 24.00 | 24.00 | 18.00 | 10.00 | 10.00 | 7.00 | 6.00 | 5.00 | 5.00 | 7.00 |
| Profit before tax | 20,713.00 | 19,860.00 | 17,781.00 | 13,739.00 | 12,425.00 | 10,756.00 | 6,983.00 | 8,100.00 | 5,884.00 | 8,861.00 | 8,045.00 | 7,427.00 |
| Tax % | 21.00 | 21.00 | 21.00 | 20.00 | 19.00 | 22.00 | 30.00 | 29.00 | 25.00 | 30.00 | 30.00 | 29.00 |
| Net Profit | 16,282.00 | 15,713.00 | 14,019.00 | 11,055.00 | 10,046.00 | 8,362.00 | 4,886.00 | 5,764.00 | 4,420.00 | 6,246.00 | 5,628.00 | 5,260.00 |
| EPS in Rs | 61.83 | 59.67 | 53.24 | 41.98 | 38.15 | 31.76 | 18.56 | 21.89 | 16.79 | 23.72 | 21.37 | 19.98 |
| Dividend Payout % | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 44.00 | 38.00 | 41.00 | 31.00 | 30.00 | 20.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2,633.00 | 2,633.00 | 2,633.00 | 2,633.00 | 1,975.00 | 1,975.00 | 1,975.00 | 1,975.00 | 1,975.00 | 1,975.00 | 987.00 | 987.00 |
| Reserves | 81,099.00 | 74,446.00 | 66,150.00 | 55,046.00 | 49,011.00 | 41,451.00 | 33,102.00 | 32,328.00 | 30,328.00 | 31,351.00 | 27,630.00 | 23,870.00 |
| Other Liabilities | 40,014.00 | 39,628.00 | 33,043.00 | 26,361.00 | 26,325.00 | 27,025.00 | 25,071.00 | 19,093.00 | 4,927.00 | 8,393.00 | 8,629.00 | 7,294.00 |
| Total Liabilities | 639,076.00 | 613,555.00 | 547,440.00 | 464,877.00 | 410,413.00 | 400,233.00 | 346,488.00 | 297,717.00 | 241,669.00 | 209,236.00 | 206,353.00 | 183,175.00 |
| Fixed Assets | 614.00 | 628.00 | 631.00 | 641.00 | 628.00 | 266.00 | 162.00 | 162.00 | 128.00 | 121.00 | 119.00 | 74.00 |
| CWIP | 128.00 | 76.00 | 24.00 | 3.00 | 6.00 | 336.00 | 288.00 | 199.00 | 129.00 | 60.00 | 32.00 | 7.00 |
| Investments | 9,799.00 | 6,642.00 | 5,320.00 | 3,138.00 | 2,158.00 | 1,910.00 | 2,313.00 | 2,398.00 | 2,825.00 | 2,696.00 | 2,467.00 | 1,613.00 |
| Other Assets | 628,535.00 | 606,210.00 | 541,466.00 | 461,096.00 | 407,621.00 | 397,721.00 | 343,724.00 | 294,959.00 | 238,587.00 | 206,359.00 | 203,736.00 | 181,480.00 |
| Total Assets | 639,076.00 | 613,555.00 | 547,440.00 | 464,877.00 | 410,413.00 | 400,233.00 | 346,488.00 | 297,717.00 | 241,669.00 | 209,236.00 | 206,353.00 | 183,175.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 5,914.00 | -39,182.00 | -57,885.00 | -37,482.00 | -872.00 | -43,520.00 | -32,448.00 | -36,013.00 | -32,778.00 | 6,794.00 | -13,205.00 | -23,992.00 |
| Cash from Investing Activity | -3,319.00 | -1,146.00 | -1,875.00 | -804.00 | -210.00 | 864.00 | -136.00 | 585.00 | 288.00 | 139.00 | -740.00 | 245.00 |
| Cash from Financing Activity | -2,375.00 | 40,034.00 | 59,588.00 | 38,111.00 | 68.00 | 42,119.00 | 33,919.00 | 35,559.00 | 28,236.00 | -4,173.00 | 15,150.00 | 23,076.00 |
| Net Cash Flow | 220.00 | -295.00 | -173.00 | -175.00 | -1,014.00 | -538.00 | 1,335.00 | 131.00 | -4,254.00 | 2,760.00 | 1,206.00 | -670.00 |
| Free Cash Flow | 5,890.00 | -39,188.00 | -57,918.00 | -37,499.00 | -919.00 | -43,594.00 | -32,548.00 | -36,103.00 | -32,851.00 | 6,767.00 | -13,309.00 | -23,999.00 |
| CFO/OP % | 17.00 | -65.00 | -115.00 | -93.00 | 6.00 | -127.00 | -118.00 | -143.00 | -159.00 | 42.00 | -48.00 | -113.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|
Corporate Actions
50 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 14 Aug 2026 | 14 Aug 2026 | — | 1.55 | |
| Dividend | 31 Jul 2026 | 31 Jul 2026 | — | 4.25 | |
| Dividend | 20 Mar 2026 | 20 Mar 2026 | — | 3.20 | |
| Dividend | 06 Feb 2026 | 06 Feb 2026 | — | 4.60 | |
| Dividend | 27 Oct 2025 | 27 Oct 2025 | — | 4.60 | |
| Dividend | 14 Aug 2025 | 14 Aug 2025 | — | 2.60 | |
| Dividend | 01 Aug 2025 | 01 Aug 2025 | — | 4.60 | |
| Dividend | 26 Mar 2025 | 26 Mar 2025 | — | 3.60 | |
| Dividend | 14 Feb 2025 | 14 Feb 2025 | — | 4.30 | |
| Dividend | 08 Nov 2024 | 08 Nov 2024 | — | 4.00 | |
| Dividend | 09 Aug 2024 | 09 Aug 2024 | — | 3.50 | |
| Dividend | 28 Jun 2024 | 28 Jun 2024 | — | 5.00 | |
| Dividend | 28 Mar 2024 | 28 Mar 2024 | — | 4.50 | |
| Dividend | 13 Nov 2023 | 13 Nov 2023 | — | 3.50 | |
| Dividend | 14 Aug 2023 | 14 Aug 2023 | — | 3.00 | |
| Dividend | 14 Jul 2023 | 14 Jul 2023 | — | 4.35 | |
| Dividend | 09 Feb 2023 | 09 Feb 2023 | — | 3.25 | |
| Dividend | 07 Nov 2022 | 09 Nov 2022 | — | 5.00 | |
| Bonus | 17 Aug 2022 | 18 Aug 2022 | 1:3 | — | |
| Dividend | 12 Jul 2022 | 13 Jul 2022 | — | 4.80 | |
| Dividend | 15 Feb 2022 | 16 Feb 2022 | — | 6.00 | |
| Dividend | 11 Nov 2021 | 12 Nov 2021 | — | 2.50 | |
| Dividend | 16 Sep 2021 | 17 Sep 2021 | — | 1.71 | |
| Dividend | 13 Aug 2021 | 17 Aug 2021 | — | 2.00 | |
| Dividend | 18 Mar 2021 | 19 Mar 2021 | — | 5.00 | |
| Dividend | 13 Nov 2020 | 17 Nov 2020 | — | 6.00 | |
| Other | 17 Sep 2020 | — | — | — | Annual General Meeting |
| Dividend | 11 Feb 2020 | 12 Feb 2020 | — | 11.00 | |
| Other | 21 Aug 2019 | — | — | — | Annual General Meeting |
| Dividend | 11 Mar 2019 | 12 Mar 2019 | — | 11.00 | |
| Dividend | 17 Sep 2018 | — | — | 1.75 | |
| Dividend | 15 Feb 2018 | 19 Feb 2018 | — | 7.40 | |
| Dividend | 14 Sep 2017 | — | — | 2.65 | |
| Dividend | 27 Feb 2017 | 28 Feb 2017 | — | 7.00 | |
| Bonus | 28 Sep 2016 | 29 Sep 2016 | 1:1 | — | |
| Dividend | 22 Aug 2016 | — | — | 5.10 | |
| Dividend | 17 Feb 2016 | 18 Feb 2016 | — | 12.00 | |
| Dividend | 09 Sep 2015 | — | — | 2.70 | |
| Dividend | 18 Feb 2015 | 20 Feb 2015 | — | 8.00 | |
| Dividend | 02 Sep 2014 | — | — | 1.75 | |
| Dividend | 20 Feb 2014 | 21 Feb 2014 | — | 7.75 | |
| Dividend | 28 Aug 2013 | — | — | 1.50 | |
| Dividend | 08 Feb 2013 | 11 Feb 2013 | — | 6.75 | |
| Dividend | 04 Sep 2012 | — | — | 2.50 | |
| Dividend | 30 Jan 2012 | 31 Jan 2012 | — | 5.00 | |
| Dividend | 30 Aug 2011 | — | — | 4.00 | |
| Dividend | 11 Feb 2011 | 14 Feb 2011 | — | 3.50 | |
| Dividend | 24 Aug 2010 | — | — | 3.50 | |
| Dividend | 04 Jan 2010 | 05 Jan 2010 | — | 3.00 | |
| Dividend | 03 Sep 2009 | — | — | 2.50 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update6 Jul from crisil
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Rating update30 Mar from fitch
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Rating update30 Mar from care
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Rating update27 Mar from icra
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Rating update27 Mar from crisil
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Rating update17 Feb from care