REC Ltd
REC Ltd (RECLTD) last reported results for the quarter ended Jun 2026, with sales of ₹14,435 crore and net profit of ₹4,193 crore. The stock last traded at ₹297, a market capitalisation of ₹78,154 crore, on a P/E of 4.89. Over the past 52 weeks the stock has ranged between ₹286 and ₹388. Figures are as of 6 Oct 2026 and are not real time.
REC Ltd share price and key metrics
- Current price
- ₹297
- Market cap
- ₹78,154 cr
- Stock P/E
- 4.89
- Book value
- ₹321
- ROE
- 20.1%
- ROCE
- 9.71%
- Dividend yield
- 6.23%
- 52w high / low
- 388/286
Metrics as of 6 Oct 2026. Not real time.
Track REC Ltd
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REC Ltd growth and returns
- 10 Years
- 9%
- 5 Years
- 11%
- 3 Years
- 15%
- TTM
- 2%
- 10 Years
- 11%
- 5 Years
- 14%
- 3 Years
- 14%
- TTM
- -5%
- 10 Years
- 12%
- 5 Years
- 20%
- 3 Years
- 1%
- 1 Year
- -22%
- 10 Years
- 20%
- 5 Years
- 21%
- 3 Years
- 21%
- Last Year
- 20%
REC Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹14,435 cr, down 2.0% from ₹14,737 cr a year earlier. Net profit was ₹4,193 cr, down 6.1% year on year.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 13,682 | 14,272 | 15,334 | 14,737 | 15,153 | 15,051 | 14,564 | 14,435 |
| Expenses | 97 | 263 | 1,084 | 217 | 476 | 655 | 1,231 | 447 |
| Operating profit | 5,079 | 5,172 | 5,482 | 5,587 | 5,546 | 5,154 | 4,402 | 5,241 |
| OPM % | 37% | 36% | 36% | 38% | 37% | 34% | 30% | 36% |
| Other income | 24 | 15 | 15 | 87 | 10 | -11 | 20 | 35 |
| Interest | 8,506 | 8,837 | 8,768 | 8,934 | 9,131 | 9,243 | 8,931 | 8,748 |
| Depreciation | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 7 |
| Profit before tax | 5,097 | 5,181 | 5,490 | 5,666 | 5,549 | 5,136 | 4,415 | 5,268 |
| Tax % | 21% | 21% | 21% | 21% | 20% | 21% | 24% | 20% |
| Net profit | 4,038 | 4,076 | 4,310 | 4,466 | 4,415 | 4,052 | 3,375 | 4,193 |
| EPS (₹) | 15.33 | 15.48 | 16.37 | 16.96 | 16.77 | 15.39 | 12.82 | 15.92 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
REC Ltd annual results
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 24,338 | 22,658 | 25,408 | 29,942 | 35,557 | 39,276 | 39,486 | 47,517 | 56,369 | 59,586 | 59,202 |
| Operating profit | 8,988 | 5,946 | 8,066 | 6,969 | 10,776 | 12,387 | 13,894 | 17,936 | 20,084 | 20,780 | 20,342 |
| OPM % | 37% | 26% | 32% | 23% | 30% | 32% | 35% | 38% | 36% | 35% | 34% |
| Net profit | 6,313 | 4,451 | 5,741 | 4,972 | 8,378 | 10,036 | 11,167 | 14,145 | 15,884 | 16,308 | 16,035 |
| EPS (₹) | 23.98 | 16.90 | 21.80 | 18.88 | 31.82 | 38.11 | 42.41 | 53.72 | 60.32 | 61.93 | 60.90 |
TTM is the trailing twelve months to the most recent quarter.
REC Ltd balance sheet
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 1,975 | 1,975 | 1,975 | 1,975 | 1,975 | 1,975 | 2,633 | 2,633 | 2,633 | 2,633 |
| Reserves | 31,696 | 30,613 | 32,571 | 33,422 | 41,789 | 49,339 | 55,487 | 66,717 | 75,184 | 81,863 |
| Borrowings | 167,852 | 204,367 | 244,249 | 286,289 | 329,723 | 333,043 | 380,790 | 445,568 | 496,801 | 515,284 |
| Other liabilities | 8,723 | 5,416 | 19,659 | 25,345 | 27,380 | 26,503 | 26,592 | 33,273 | 39,883 | 40,378 |
| Total liabilities | 210,245 | 242,370 | 298,454 | 347,030 | 400,867 | 410,860 | 465,503 | 548,191 | 614,502 | 640,158 |
| Fixed assets | 355 | 132 | 165 | 166 | 267 | 628 | 641 | 632 | 629 | 616 |
| CWIP | 166 | 129 | 199 | 288 | 336 | 6 | 3 | 24 | 76 | 128 |
| Investments | 2,617 | 2,948 | 2,463 | 2,386 | 1,981 | 2,190 | 3,170 | 5,352 | 6,674 | 9,831 |
| Other assets | 207,108 | 239,162 | 295,627 | 344,190 | 398,282 | 408,035 | 461,689 | 542,184 | 607,123 | 629,583 |
| Total assets | 210,245 | 242,370 | 298,454 | 347,030 | 400,867 | 410,860 | 465,503 | 548,191 | 614,502 | 640,158 |
As reported by the company. Total assets equal total liabilities by construction.
REC Ltd cash flow
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 6,805 | -32,510 | -35,866 | -32,712 | -43,512 | -3,910 | -37,360 | -57,723 | -39,064 | 5,972 |
| Cash from investing | -101 | 46 | 457 | 121 | 861 | -287 | -943 | -1,831 | -1,302 | -3,308 |
| Cash from financing | -3,947 | 28,244 | 35,543 | 33,926 | 42,113 | 3,159 | 38,123 | 59,588 | 40,034 | -2,375 |
| Net cash flow | 2,757 | -4,220 | 134 | 1,336 | -538 | -1,038 | -180 | 34 | -333 | 289 |
| Free cash flow | 6,601 | -32,584 | -35,957 | -32,812 | -43,586 | -3,958 | -37,377 | -57,756 | -39,070 | 5,948 |
| CFO / operating profit | 42% | -157% | -143% | -119% | -126% | -2% | -92% | -114% | -64% | 17% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
REC Ltd operating ratios
| Per year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 20% | 13% | 17% | 14% | 21% | 21% | 20% | 22% | 22% | 20% |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
REC Ltd shareholding pattern
Promoters held 52.63% at Jun 2026, broadly unchanged since Jun 2025. FIIs 15.76% and DIIs 16.98%.
| % held | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 52.63% | 52.63% | 52.63% | 52.63% | 52.63% | 52.63% | 52.63% | 52.63% |
| FIIs | 21.22% | 21.74% | 20.48% | 19.16% | 17.97% | 16.46% | 15.79% | 15.76% |
| DIIs | 14.25% | 13.91% | 14.79% | 15.51% | 15.86% | 16.21% | 16.36% | 16.98% |
| Government | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% |
| Public | 11.84% | 11.67% | 12.05% | 12.65% | 13.48% | 14.64% | 15.17% | 14.57% |
| No. of shareholders | 10,40,888 | 10,41,317 | 10,82,798 | 11,26,511 | 11,54,542 | 11,79,931 | 12,08,647 | 11,75,194 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
REC Ltd corporate filings
- Certificate under Regulation 74 (5) of the SEBI (Depository and Particiapnts) Regulations, 2018.Company Updatelow impact
- REC Ltd announces incorporation of new subsidiary companiesCompany Updatelow impact
Cruxal's analysis: REC Ltd has formally intimated the incorporation of subsidiary companies as of October 6…
Read the full analysis - Intimation for closure of Trading Window.Insider Trading / SASTlow impact
- REC Ltd addresses regulatory fine imposed by stock exchangesCompany Updatelow impact
Cruxal's analysis: The company has issued a formal response regarding a fine levied by the stock exchanges…
Read the full analysis - REC Ltd announces sale and transfer of project-specific SPV subsidiaryCompany Updatelow impact
Cruxal's analysis: REC Ltd has initiated the sale and transfer of a project-specific Special Purpose Vehicle…
Read the full analysis - REC Ltd announces sale and transfer of project-specific SPV subsidiaryCompany Updatelow impact
Cruxal's analysis: REC Ltd has issued an intimation regarding the sale and transfer of a project-specific…
Read the full analysis - REC Ltd announces sale and transfer of project-specific SPVsCompany Updatelow impact
Cruxal's analysis: REC Ltd has issued an intimation regarding the sale and transfer of its project-specific…
Read the full analysis - REC Limited announces cessation of tenure for two Independent DirectorsCompany Updatelow impact
Cruxal's analysis: REC Limited has formally notified the stock exchanges that the tenure of Dr. Anil Kumar…
Read the full analysis - REC Limited announces appointment of Ms. Isha Duhan, IAS, as Executive DirectorCompany Updatelow impact
Cruxal's analysis: REC Limited has formally announced the appointment of Ms. Isha Duhan, an IAS officer of…
Read the full analysis - REC Ltd announces sale and transfer of project-specific SPV subsidiaryCompany Updatelow impact
Cruxal's analysis: REC Ltd has issued an intimation regarding the sale and transfer of a project-specific…
Read the full analysis - REC Limited announces appointment of new Statutory Auditors for FY 2026-27Company Updatelow impact
Cruxal's analysis: REC Limited has formally notified the stock exchanges regarding the appointment of M/s…
Read the full analysis - Life Insurance Corporation of India (LIC) crosses 5% shareholding threshold in REC Limited via market purchaseInsider Trading / SASTlow impact
Cruxal's analysis: Life Insurance Corporation of India has increased its stake in REC Limited to 5.031%…
Read the full analysis - REC Limited completes India's first pilot issue of tokenized corporate bonds under SEBI regulatory sandboxCompany Updatelow impact
Cruxal's analysis: REC Limited has successfully executed a pilot issuance of tokenized corporate bonds…
Read the full analysis - REC Limited receives credit rating upgrade to 'A-' from 'BBB+' by Japan Credit Rating AgencyCompany Updatehigh impact
Cruxal's analysis: REC Limited has announced a positive credit rating action, with Japan Credit Rating…
Read the full analysis - REC Limited shareholders approve all resolutions at 57th AGM, including private placement of securitiesAGM/EGMmedium impact
Cruxal's analysis: REC Limited has successfully concluded its 57th Annual General Meeting held on August 25…
Read the full analysis - REC Ltd receives notice regarding imposition of fines by stock exchangesCompany Updatelow impact
Cruxal's analysis: REC Ltd has issued an intimation regarding the imposition of fines by stock exchanges for…
Read the full analysis - REC Limited Concludes 57th AGM; Management Addresses Strategic Merger with PFC and Future Growth RoadmapAGM/EGMlow impact
Cruxal's analysis: REC Limited has successfully concluded its 57th Annual General Meeting, where management…
Read the full analysis - REC Ltd incorporates new subsidiary companiesCompany Updatelow impact
Cruxal's analysis: REC Ltd has formally intimated the incorporation of new subsidiary companies as part of…
Read the full analysis - REC Ltd announces sale and transfer of project-specific SPV subsidiaryCompany Updatelow impact
Cruxal's analysis: REC Ltd has issued an intimation regarding the sale and transfer of a project-specific…
Read the full analysis - REC Ltd announces sale and transfer of project-specific SPV subsidiaryCompany Updatelow impact
Cruxal's analysis: REC Ltd has issued an intimation regarding the sale and transfer of a project-specific…
Read the full analysis
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