REC Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Excellent return on equity (ROE 20%)
- ✓Attractively valued vs sector (P/E 5.2x vs industry 35.7x)
- ✓Regular dividends — yield 5.5%
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HDFCBANK HDFC Bank Limited | ₹748 | ₹11.5L Cr | 15.2 | 1.98 | 13.8 | 7.04 | — |
| SBIN State Bank of India | ₹977 | ₹8.8L Cr | 10.6 | 1.51 | 15.4 | 6.13 | — |
| ICICIBANK ICICI Bank Limited | ₹1,261 | ₹8.8L Cr | 16.2 | 2.51 | 16.1 | 7.2 | — |
| BAJFINANCE Bajaj Finance Limited | ₹890 | ₹5.5L Cr | 28.6 | 4.86 | 18.2 | 10.8 | — |
| LICI Life Insurance Corporation Of India | ₹400 | ₹5.1L Cr | 8.83 | 2.86 | 37.8 | 35.1 | 0 |
| AXISBANK Axis Bank Limited | ₹1,273 | ₹3.9L Cr | 14.8 | 1.85 | 13.2 | 6.24 | — |
| KOTAKBANK Kotak Mahindra Bank Limited | ₹377 | ₹3.8L Cr | 19.8 | 2.07 | 11.2 | 6.93 | — |
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 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
Interim Dividend - Rs 4.30 Per Share
Interim Dividend - Rs 4 Per Share
Latest News
All news →PFC board approves REC merger, awaits government nod
*PFC board approves REC merger, awaits government nod.* The move advances consolidation in India’s power financing sector. Final approval hinges on government clearance, expected in coming weeks. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Merger
PFC and REC approve merger, seek presidential nod
*PFC and REC boards approve merger, pending presidential approval.* The move aims to create a unified power financing entity. Both state-owned firms expect synergies and operational efficiencies. Final decision awaits government nod. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Merger
PFC-REC merger to complete by April 2027
*PFC-REC merger targets April 2027 completion as government pushes PSU consolidation.* The move aims to create a unified power sector financier with **₹2.5 lakh crore** in assets. Integration is expected to enhance operational efficiency and reduce borrowing costs. Shareholders will receive **1 share of PFC for every 2 shares of REC**. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #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 ▼4461.7% | ₹-819 Cr ▲98.1% | ₹-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 ▲55963.2% | ₹68 Cr ▼99.8% | ₹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 ▼4211.1% | ₹-867 Cr ▲98.0% | ₹-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