REC Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Excellent return on equity (ROE 20%)
- ✓Attractively valued vs sector (P/E 5.7x vs industry 35.4x)
- ✓Regular dividends — yield 5.1%
Today's Price Action
The stock trades at ₹361.8, unchanged on the day. The total turnover of 34,25,689 shares matches the 20‑day average, indicating a steady participation level without any sudden surge in buying or selling pressure.
Valuation Snapshot
A trailing P/E of 5.73 sits well below the broader financial‑services average, suggesting the shares are priced on modest earnings expectations. The company delivers a robust ROE of 20 percent, while a P/B of 0 highlights a balance‑sheet that is effectively leveraged.
Key Levels to Watch
The current price sits ≈ 57 percent up from the 52‑week low of ₹304 and about 12 percent below the 52‑week high of ₹409, implying limited upside potential in the immediate term. Open‑interest clusters observed historically around the ₹350‑₹380 band may act as supportive or resistive zones should volume shift noticeably.
Data Summary
Key metrics include a flat LTP of ₹361.8, a volume that aligns precisely with its 20‑day mean, a P/E of 5.73, a P/B of 0, and an ROE of 20 percent. The market‑capitalisation figure is reported at ₹0 Cr, and the 52‑week trading range spans ₹304 to ₹409.
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HDFCBANK HDFC Bank Limited | ₹754 | ₹12.6L Cr | 16 | 1.93 | 13.6 | 7.02 | — |
| ICICIBANK ICICI Bank Limited | ₹1,440 | ₹10.4L Cr | 18.5 | 2.73 | 17.3 | 7.59 | — |
| SBIN State Bank of India | ₹1,025 | ₹9.6L Cr | 11.6 | 1.59 | 15.4 | 6.13 | — |
| BAJFINANCE Bajaj Finance Limited | ₹1,056 | ₹6.6L Cr | 34.2 | 5.77 | 18.2 | 10.9 | — |
| LICI Life Insurance Corporation Of India | ₹424 | ₹5.5L Cr | 9.54 | 3.03 | 37.8 | 35.1 | 0 |
| AXISBANK Axis Bank Limited | ₹1,234 | ₹4.1L Cr | 14.9 | 1.73 | 13.1 | 6.24 | — |
| KOTAKBANK Kotak Mahindra Bank Limited | ₹382 | ₹3.9L Cr | 19.4 | 2.1 | 11.4 | 6.98 | — |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
RECLTD · as of Mar 2026
| Category | 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% |
| FII | 20.60% | 19.91% | 20.43% | 21.22% | 21.74% | 20.48% |
| DII | 14.16% | 15.44% | 14.68% | 14.25% | 13.91% | 14.79% |
| Public | 12.55% | 11.96% | 12.21% | 11.84% | 11.67% | 12.05% |
| Govt | 0.04% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% |
Corporate Events
To consider and approve the financial results for the quarter ended June 30, 2026 and 1st interim dividend for the FY 2026-27, if any.
To consider & approve the Scheme of Merger amongst REC and Power Finance Corporation Limited and their respective shareholders and creditors.
To further consider and discuss matter related to merger of REC Limited and Power Finance Corporation Limited, in accordance with the provisions of Articles of Association of the Company.
Intimation of Board Meeting.
Interim Dividend - Rs 3.20 Per Share
Interim Dividend - Rs 4.60 Per Share
Interim Dividend - Rs 4.60 Per Share
Dividend - Rs 2.60 Per Share
Interim Dividend - Rs 4.60 Per Share
Interim Dividend - Rs 3.60 Per Share
Latest News
All news →PFC and REC approve merger to form ₹11L Cr entity
*PFC and REC approve merger to form ₹11L Cr entity.* The boards of both state-owned firms have approved the amalgamation, creating a financial entity with **₹11 lakh crore** on-balance-sheet assets. The merged entity will strengthen India’s power sector financing. Final approval awaits regulatory and shareholder consent. 📊 *STOCKS:* PFC | RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Merger
PFC and REC approve merger, loan book to exceed ₹11 lakh crore
*PFC and REC boards approve merger, loan book to exceed ₹11 lakh crore*. The merger of PFC and REC has been approved by both boards, creating a financial entity with a combined loan book exceeding **₹11 lakh crore**. This consolidation strengthens India’s power sector financing and enhances operational scale. The move is part of the government’s strategy to streamline public sector financial institutions. 📊 *STOCKS:* PFC | RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Merger
PFC board approves merger with REC at 88:100 swap ratio
*PFC board approves merger with REC at 88:100 swap ratio.* Shareholders of REC will get **88 shares** of PFC for every **100 shares** held. The merged entity will have a loan book exceeding **₹11 lakh crore**, creating one of India’s largest power sector financiers. The move aims to strengthen credit profile and operational synergies. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Merger
PFC and REC to merge in all-stock deal
*PFC and REC to merge in all-stock deal* with a share swap ratio of **1 share of PFC for every 1.5 shares of REC**. The merger is expected to be completed by **Q4 FY24**, creating a unified power sector financier. The combined entity will have a loan portfolio of over **₹7.5 lakh crore**. The move aims to improve operational efficiency and strengthen India’s power infrastructure financing. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Merger
PFC-REC merger approved; swap ratio set
*PFC-REC merger approved; swap ratio set* The government has approved the merger of REC into PFC, effective August 1, 2024. Shareholders will receive **1 share of PFC for every 2 shares of REC**. The move consolidates power sector financing under one entity, impacting valuation and trading dynamics. 📊 *STOCKS:* PFC | RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Merger
PFC and REC merger to create power financing giant
*PFC and REC merger to create power financing giant.* The all-stock merger will form India’s largest power sector financier with a combined AUM of **₹6.5 lakh crore**. Shareholders will receive **1 REC share for every 10 PFC shares**. The unified entity aims to strengthen infrastructure financing and reduce borrowing costs. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #merger
PFC-REC merger approved, creating India's largest power NBFC
*PFC-REC merger approved, creating India's largest power NBFC.* The board has cleared the merger, combining two state-owned giants. The new entity will have a combined **₹3.6 lakh crore** loan book, enhancing scale and efficiency in the power sector. Integration is expected to be complete by FY25. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Merger
PFC-REC merger approved by government
*PFC-REC merger approved by government*. Shareholders of **PFC** will receive **13 shares** for every **10 REC shares** held. The merger is expected to be effective by **Q4 FY25**, creating a **₹3.5 lakh crore** power sector giant. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #merger
PFC and REC approve merger scheme
*PFC and REC approve merger scheme* to create a unified power financing entity. The move aims to strengthen India's power sector infrastructure with combined balance sheets. This consolidation is expected to enhance operational efficiency and credit capacity. The government holds majority stakes in both firms. 📊 *STOCKS:* PFC | RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Merger
PFC-REC merger approved to form ₹11 lakh cr entity
The government has approved the merger of PFC and REC to form a unified power financing giant with an asset base of **₹11 lakh crore**. This integration aims to streamline operations and strengthen the power sector’s financial backbone. The move is expected to enhance credit capacity and reduce borrowing costs for both entities. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Merger
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — |
| Op. Profit | — | — | — | — | — | — | — | — |
| OPM | — | — | — | — | — | — | — | — |
| Net Profit | ₹4.1K Cr ▼8.2% | ₹4.4K Cr ▼1.1% | ₹4.5K Cr ▲3.6% | ₹4.3K Cr ▲5.7% | ₹4.1K Cr ▲0.9% | ₹4.0K Cr ▲16.7% | ₹3.5K Cr ▼15.2% | ₹4.1K Cr |
| EPS (₹) | 15.39 ▼8.2% | 16.77 ▼1.1% | 16.96 ▲3.6% | 16.37 ▲5.7% | 15.48 ▲1.0% | 15.33 ▲16.7% | 13.14 ▼15.2% | 15.49 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | — | — |
| Expenses | ₹2.6K Cr ▲19.8% | ₹2.2K Cr ▲688.3% | ₹-366 Cr ▼119.7% | ₹1.9K Cr ▼61.6% | ₹4.8K Cr ▲47.0% | ₹3.3K Cr ▼17.3% | ₹4.0K Cr ▲133.9% | ₹1.7K Cr ▼49.6% | ₹3.4K Cr ▲79.0% | ₹1.9K Cr |
| Op. Profit | — | — | — | — | — | — | — | — | — | — |
| OPM | — | — | — | — | — | — | — | — | — | — |
| Other Income | ₹26 Cr ▼55.2% | ₹58 Cr ▲20.8% | ₹48 Cr ▲71.4% | ₹28 Cr ▼54.8% | ₹62 Cr ▲313.3% | ₹15 Cr ▼79.2% | ₹72 Cr ▲118.2% | ₹33 Cr ▲83.3% | ₹18 Cr ▼25.0% | ₹24 Cr |
| Interest | ₹36.2K Cr ▲6.2% | ₹34.1K Cr ▲14.0% | ₹29.9K Cr ▲26.2% | ₹23.7K Cr ▲7.6% | ₹22.1K Cr ▲2.6% | ₹21.5K Cr ▲13.2% | ₹19.0K Cr ▲21.4% | ₹15.6K Cr ▲17.3% | ₹13.3K Cr ▼1.0% | ₹13.5K Cr |
| Depreciation | ₹27 Cr ▲8.0% | ₹25 Cr ▲4.2% | ₹24 Cr ▲0.0% | ₹24 Cr ▲33.3% | ₹18 Cr ▲63.6% | ₹11 Cr ▼8.3% | ₹12 Cr ▲50.0% | ₹8 Cr ▲14.3% | ₹7 Cr ▼82.5% | ₹40 Cr |
| PBT | ₹20.8K Cr ▲3.2% | ₹20.1K Cr ▲12.0% | ₹18.0K Cr ▲29.2% | ₹13.9K Cr ▲11.8% | ₹12.4K Cr ▲15.3% | ₹10.8K Cr ▲53.3% | ₹7.0K Cr ▼13.1% | ₹8.1K Cr ▲35.8% | ₹6.0K Cr ▼33.6% | ₹9.0K Cr |
| Tax % | 21.0% ▲0.0% | 21.0% ▲0.0% | 21.0% ▲5.0% | 20.0% ▲5.3% | 19.0% ▼13.6% | 22.0% ▼24.1% | 29.0% ▲0.0% | 29.0% ▲16.0% | 25.0% ▼16.7% | 30.0% |
| Net Profit | ₹16.3K Cr ▲2.7% | ₹15.9K Cr ▲12.3% | ₹14.1K Cr ▲26.7% | ₹11.2K Cr ▲11.3% | ₹10.0K Cr ▲19.8% | ₹8.4K Cr ▲68.5% | ₹5.0K Cr ▼13.4% | ₹5.7K Cr ▲29.0% | ₹4.5K Cr ▼29.5% | ₹6.3K Cr |
| EPS (₹) | 61.93 ▲2.7% | 60.32 ▲12.3% | 53.72 ▲26.7% | 42.41 ▲11.3% | 38.11 ▲19.8% | 31.82 ▲68.5% | 18.88 ▼13.4% | 21.8 ▲29.0% | 16.9 ▼29.5% | 23.98 |
| Div Payout | 30.0% ▲0.0% | 30.0% ▲0.0% | 30.0% ▲0.0% | 30.0% ▲0.0% | 30.0% ▲0.0% | 30.0% ▼31.8% | 44.0% ▲15.8% | 38.0% ▼7.3% | 41.0% ▲36.7% | 30.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | ||||||||||
| Equity Capital | ₹2.6K Cr ▲0.0% | ₹2.6K Cr ▲0.0% | ₹2.6K Cr ▲0.0% | ₹2.6K Cr ▲33.3% | ₹2.0K Cr ▲0.0% | ₹2.0K Cr ▲0.0% | ₹2.0K Cr ▲0.0% | ₹2.0K Cr ▲0.0% | ₹2.0K Cr ▲0.0% | ₹2.0K Cr |
| Reserves | ₹80.8K Cr ▲6.7% | ₹75.7K Cr ▲13.5% | ₹66.7K Cr ▲20.2% | ₹55.5K Cr ▲12.5% | ₹49.3K Cr ▲18.1% | ₹41.8K Cr ▲25.0% | ₹33.4K Cr ▲2.6% | ₹32.6K Cr ▲6.4% | ₹30.6K Cr ▼3.4% | ₹31.7K Cr |
| Borrowings | — | — | — | — | — | — | — | — | — | — |
| Other Liabilities | ₹40.7K Cr ▲2.0% | ₹39.9K Cr ▲19.9% | ₹33.3K Cr ▲25.1% | ₹26.6K Cr ▲0.3% | ₹26.5K Cr ▼3.2% | ₹27.4K Cr ▲8.0% | ₹25.3K Cr ▲28.9% | ₹19.7K Cr ▲263.0% | ₹5.4K Cr ▼37.9% | ₹8.7K Cr |
| Total Liabilities | ₹6.4L Cr ▲4.2% | ₹6.1L Cr ▲12.1% | ₹5.5L Cr ▲17.8% | ₹4.7L Cr ▲13.3% | ₹4.1L Cr ▲2.5% | ₹4.0L Cr ▲15.5% | ₹3.5L Cr ▲16.3% | ₹3.0L Cr ▲23.1% | ₹2.4L Cr ▲15.3% | ₹2.1L Cr |
| Assets | ||||||||||
| Fixed Assets | ₹618 Cr ▼1.7% | ₹629 Cr ▼0.5% | ₹632 Cr ▼1.4% | ₹641 Cr ▲2.1% | ₹628 Cr ▲135.2% | ₹267 Cr ▲60.8% | ₹166 Cr ▲0.6% | ₹165 Cr ▲25.0% | ₹132 Cr ▼62.8% | ₹355 Cr |
| CWIP | ₹105 Cr ▲38.2% | ₹76 Cr ▲216.7% | ₹24 Cr ▲700.0% | ₹3 Cr ▼50.0% | ₹6 Cr ▼98.2% | ₹336 Cr ▲16.7% | ₹288 Cr ▲44.7% | ₹199 Cr ▲54.3% | ₹129 Cr ▼22.3% | ₹166 Cr |
| Investments | ₹8.2K Cr ▲22.4% | ₹6.7K Cr ▲24.7% | ₹5.4K Cr ▲68.8% | ₹3.2K Cr ▲44.7% | ₹2.2K Cr ▲10.6% | ₹2.0K Cr ▼17.0% | ₹2.4K Cr ▼3.1% | ₹2.5K Cr ▼16.5% | ₹2.9K Cr ▲12.6% | ₹2.6K Cr |
| Other Assets | ₹6.3L Cr ▲4.0% | ₹6.1L Cr ▲12.0% | ₹5.4L Cr ▲17.4% | ₹4.6L Cr ▲13.1% | ₹4.1L Cr ▲2.4% | ₹4.0L Cr ▲15.7% | ₹3.4L Cr ▲16.4% | ₹3.0L Cr ▲23.6% | ₹2.4L Cr ▲15.5% | ₹2.1L Cr |
| Total Assets | ₹6.4L Cr ▲4.2% | ₹6.1L Cr ▲12.1% | ₹5.5L Cr ▲17.8% | ₹4.7L Cr ▲13.3% | ₹4.1L Cr ▲2.5% | ₹4.0L Cr ▲15.5% | ₹3.5L Cr ▲16.3% | ₹3.0L Cr ▲23.1% | ₹2.4L Cr ▲15.3% | ₹2.1L Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹-39.1K Cr ▲32.3% | ₹-57.7K Cr ▼54.5% | ₹-37.4K Cr ▼855.5% | ₹-3.9K Cr ▲91.0% | ₹-43.5K Cr ▼33.0% | ₹-32.7K Cr ▲8.8% | ₹-35.9K Cr ▼10.3% | ₹-32.5K Cr ▼577.7% | ₹6.8K Cr ▲151.3% | ₹-13.3K Cr |
| Investing CF | ₹-1.3K Cr ▲28.9% | ₹-1.8K Cr ▼94.2% | ₹-943 Cr ▼228.6% | ₹-287 Cr ▼133.3% | ₹861 Cr ▲611.6% | ₹121 Cr ▼73.5% | ₹457 Cr ▲893.5% | ₹46 Cr ▲145.5% | ₹-101 Cr ▲86.6% | ₹-756 Cr |
| Financing CF | ₹40.0K Cr ▼32.8% | ₹59.6K Cr ▲56.3% | ₹38.1K Cr ▲1106.8% | ₹3.2K Cr ▼92.5% | ₹42.1K Cr ▲24.1% | ₹33.9K Cr ▼4.5% | ₹35.5K Cr ▲25.8% | ₹28.2K Cr ▲815.6% | ₹-3.9K Cr ▼125.8% | ₹15.3K Cr |
| Net Cash Flow | ₹-333 Cr ▼1079.4% | ₹34 Cr ▲118.9% | ₹-180 Cr ▲82.7% | ₹-1.0K Cr ▼92.9% | ₹-538 Cr ▼140.3% | ₹1.3K Cr ▲897.0% | ₹134 Cr ▲103.2% | ₹-4.2K Cr ▼253.1% | ₹2.8K Cr ▲119.3% | ₹1.3K Cr |
| Free Cash Flow | ₹-39.1K Cr ▲32.2% | ₹-57.8K Cr ▼54.5% | ₹-37.4K Cr ▼844.3% | ₹-4.0K Cr ▲90.9% | ₹-43.6K Cr ▼32.8% | ₹-32.8K Cr ▲8.7% | ₹-36.0K Cr ▼10.4% | ₹-32.6K Cr ▼593.6% | ₹6.6K Cr ▲148.8% | ₹-13.5K Cr |
Values in ₹ Cr · Source: Screener.in
Deep Dive Analysis
About REC Limited
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]
Financial Services · Finance