REC Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Excellent return on equity (ROE 20.1%)
- Attractively valued vs sector (P/E 4.8x vs industry 33.1x)
- Trading below book value (P/B 0.9x)
- Regular dividends — yield 6.3%
- Near 52-week low — potential value zone (₹284)
Concerns
Today's Price Action
The stock closed at ₹290 with zero percent change, matching the prior close and indicating a flat intraday session. Trading volume stood at 41,93,214 shares, exactly equal to the 20‑day average, indicating neutral participation and no unusual buying or selling pressure.
Valuation Snapshot
REC Limited trades at a price‑to‑earnings multiple of 4.82, well below the sector average of zero, reflecting a low valuation relative to earnings and suggesting a potential pricing cushion. The return on equity of 20.1 percent underscores strong profitability on the capital base and points to efficient capital deployment.
Key Levels to Watch
The current price lies just above the 52‑week low of ₹286 and remains distant from the 52‑week high of ₹388, suggesting limited upside within the annual range and highlighting the lower band as a possible support zone. Open‑interest data points to modest support around ₹285 and resistance near ₹300, aligning with recent intraday price clusters and offering reference points for market participants.
Chart Pattern
A Dragonfly Doji appeared on the daily chart seven days ago, a single‑day candlestick formation that signals indecision with a long lower shadow and a small real body, indicating a pause in directional momentum.
Data Summary
The most recent data set shows a market capitalisation of zero crore, a price‑to‑book ratio of zero, and a P/E of 4.82. Volume, price stability and the Dragonfly Doji together highlight a period of equilibrium in trading activity, reflecting balanced supply‑demand dynamics without a clear bias.
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HDFCBANK HDFC Bank Limited | ₹685 | ₹10.7L Cr | 13.3 | 1.75 | 13.6 | 7.02 | — |
| ICICIBANK ICICI Bank Limited | ₹1,378 | ₹10.0L Cr | 17 | 2.55 | 15.9 | 7.18 | — |
| SBIN State Bank of India | ₹957 | ₹8.8L Cr | 10.5 | 1.42 | 15.4 | 6.13 | — |
| BAJFINANCE Bajaj Finance Limited | ₹917 | ₹5.8L Cr | 26.4 | 4.63 | 18.2 | 10.9 | — |
| LICI Life Insurance Corporation Of India | ₹391 | ₹4.8L Cr | 8.03 | 2.8 | 37.8 | 35.1 | 0 |
| KOTAKBANK Kotak Mahindra Bank Limited | ₹440 | ₹4.3L Cr | 20.2 | 2.24 | 11.4 | 6.98 | — |
| AXISBANK Axis Bank Limited | ₹1,220 | ₹3.8L Cr | 12.7 | 1.65 | 13.1 | 6.24 | — |
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
Interim Dividend - Rs 3.50 Per Share
To consider and approve the financial results for the period ended September 30, 2026 and 2nd Interim Dividend for the financial year 2026-27, if any.
Dividend - Rs 1.55 Per Share
Interim Dividend - Rs 4.25 Per Share
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
Latest News
All newsKey firms including Paytm, Tata Consumer post Q2 results.
*Key firms including Paytm, Tata Consumer post Q2 results.* Traders await financial performance of major NSE-listed companies like **PAYTM**, **TATACONSUM**, and **MANKIND**. Results may impact near-term stock trends and sector sentiment. Focus on revenue, margins, and guidance. 📊 *STOCKS:* PAYTM, TATACONSUM, MANKIND, RECLTD, BOM, SONACOMF, TML | 🏢 *SECTOR:* Earnings | #HIGHIMPACT #Earnings
REC-PFC merger receives RBI nod
*REC-PFC merger receives RBI nod* clears a major regulatory hurdle. The Reserve Bank of India has granted 'No Objection Certificate' for the merger of REC and PFC, paving way for a unified entity. The move strengthens India’s power sector financing with a combined balance sheet of over **₹2.5 lakh crore**. Final approvals and shareholder consent are expected soon. 📊 *STOCKS:* PFC, RECLTD | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Merger
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
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 19.3% | ₹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 | ₹13 Cr 77.6% | ₹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 7.5% | ₹75.2K Cr 12.7% | ₹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 32.4% | ₹-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]
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