REC LIMITED

BSE: RECLTD532955ISIN INE020B01018

Financial Services
Financial Institution
BSE 100

Share price

₹286.95+2.85 (+1.00%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹387.75
52W low: ₹281.80
Off 52W high: -26.00%
1M return: -2.73%
3M return: -21.02%
6M return: -20.09%
1Y return: -22.60%
20D avg volume: 3,34,409
50 DMA: ₹305.81
200 DMA: ₹340.58

Key ratios Consolidated

Market cap: ₹75,560 Cr
Current price: ₹286.95
52W high / low: ₹387.75 / ₹281.80
Face value: ₹10.00
P/E: 5.00
P/B: 0.79
EPS (TTM): ₹57.34
Book value / share: ₹361.61
ROE: —
ROCE: —
Operating margin: —
Net margin: —
Debt / equity: 2.30
Net debt: ₹1,95,022 Cr
Interest cover: 1.57
Dividend yield: 5.96%
Dividend / share (TTM): ₹17.10
Payout: 29.82%
Cash conversion cycle: —

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	15,000	14,435	14,564	15,018	15,153	14,737	15,334	14,272	13,682	13,079	12,677	12,052
	10.03	34.57	19.57	40.90	9.71	86.53	14.83	14.99	23.88	13.78	29.48	19.77
	15,010	14,469	14,583	15,059	15,162	14,824	15,348	14,287	13,706	13,092	12,707	12,072
	10,619	9,201	10,169	9,904	9,613	9,158	9,858	9,106	8,609	8,743	7,477	7,900
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	76.50	74.25	70.20	70.63	66.70	63.98	85.50	54.83	65.47	62.33	66.07	69.43
	9,522	8,748	8,931	9,243	9,131	8,934	8,768	8,837	8,506	8,020	7,896	7,654
	6.74	6.79	6.89	6.80	6.66	6.70	6.49	6.31	5.98	5.91	6.02	6.00
	657.16	1,033	507.90	203.79	209.89	176.00	220.76	77.53	53.18	40.77	61.33	41.01
	4,391	5,268	4,415	5,155	5,549	5,666	5,490	5,181	5,097	4,349	5,229	4,172
	0.00	0.00	0.00	-18.28	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	4,391	5,268	4,415	5,136	5,549	5,666	5,490	5,181	5,097	4,349	5,229	4,172
	913.41	1,076	1,039	1,084	1,134	1,201	1,180	—	—	—	—	—
	3,478	4,193	3,375	4,052	4,415	4,466	4,310	4,076	4,038	3,460	4,079	3,308
	13.21	15.92	12.69	15.39	16.77	16.96	16.24	15.48	15.33	13.14	15.36	12.56
Key metrics
	—	—	—	—	—	—	—	14,024	13,609	12,375	13,131	11,831
	—	—	—	—	—	—	—	98.30%	99.50%	94.60%	103.60%	98.20%
	23.20%	29.00%	23.20%	27.00%	29.10%	30.30%	28.10%	28.60%	29.50%	26.50%	32.20%	27.50%
	-1.00%	-2.10%	-5.00%	5.20%	10.70%	12.70%	21.00%	18.40%	—	—	—	—
	-21.20%	-6.10%	-21.70%	-0.60%	9.30%	29.10%	5.70%	23.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY18
Income statement
	59,017	59,584	56,367	47,505	39,478	39,269	23,054
	105.07	44.19	67.48	66.48	41.90	70.15	46.98
	59,122	59,628	56,434	47,571	39,520	39,339	23,101
	39,893	38,844	36,317	29,611	25,622	26,897	16,160
	0.00	0.00	0.00	0.00	0.00	0.00	—
	0.00	0.00	0.00	0.00	0.00	0.00	328.53
	291.58	271.51	268.13	238.03	204.10	180.09	198.46
	36,443	36,238	34,131	29,948	23,733	22,051	13,860
	27.22	27.05	24.70	23.99	24.26	18.24	69.59
	2,402	1,098	857.20	170.44	130.33	124.31	285.29
	19,229	20,785	20,117	17,960	13,898	12,442	6,941
	-18.28	-18.28	0.00	0.00	0.00	0.00	-0.02
	19,210	20,766	20,117	17,960	13,898	12,442	6,941
	4,112	4,458	4,233	—	—	—	2,252
	15,098	16,308	15,884	14,145	11,167	10,036	4,689
	57.21	61.81	60.20	53.59	42.28	50.82	—
Key metrics
	—	—	—	47,932	37,655	34,512	20,870
	—	—	—	100.90%	95.40%	87.90%	90.50%
	25.58%	27.40%	28.20%	29.80%	28.30%	25.60%	20.30%
	-0.80%	5.70%	18.70%	20.30%	0.50%	70.30%	—
	-12.56%	2.70%	12.30%	26.70%	11.30%	114.00%	—
	—	5,896	-39,182	—	—	—	—
	—	0.37	-2.46	—	—	—	—
	—	2.30	2.48	—	—	—	—
	—	1,95,022	1,94,067	—	—	—	—
Balance sheet
	—	6,40,158	6,14,502	—	—	—	—
	—	293.39	233.57	—	—	—	—
	—	293.21	235.13	—	—	—	—
	—	0.00	0.00	—	—	—	—
	—	612.51	625.99	—	—	—	—
	—	1,95,316	1,94,300	—	—	—	—
	—	85,054	78,376	—	—	—	—
Cash flow
	—	5,972	-39,101	—	—	—	—
	—	-3,308	-1,265	—	—	—	—
	—	-2,375	40,034	—	—	—	—
	—	75.20	81.27	—	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	14,728	14,296	14,386	14,911	15,084	14,646	15,159	14,157	13,571	13,023	12,643	11,982
	9.08	35.30	20.29	41.62	10.48	87.39	14.71	15.52	24.52	13.75	30.17	0.00
	14,737	14,331	14,406	14,952	15,095	14,734	15,174	14,173	13,596	13,037	12,643	12,000
	10,463	9,122	10,009	9,836	9,542	9,087	9,789	9,063	8,556	8,711	7,496	7,886
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	69.04	67.43	62.80	63.74	59.98	56.77	60.82	49.47	59.22	56.64	59.57	63.36
	9,523	8,748	8,932	9,243	9,132	8,935	8,770	8,837	8,507	8,021	7,896	7,653
	6.62	6.65	6.75	6.67	6.58	6.62	6.41	6.23	5.90	5.85	5.98	5.89
	484.82	956.22	370.59	145.26	149.16	118.52	171.49	76.48	51.37	38.81	59.01	38.63
	4,274	5,209	4,397	5,116	5,553	5,647	5,385	5,110	5,040	4,326	5,148	4,114
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	4,274	5,209	4,397	5,116	5,553	5,647	5,385	5,110	5,040	4,326	5,148	4,114
	882.77	1,060	1,035	1,073	1,127	1,196	1,148	—	—	—	—	—
	3,391	4,149	3,362	4,043	4,426	4,451	4,236	4,029	4,005	3,442	4,016	3,269
	12.88	15.76	12.64	15.35	16.81	16.90	15.96	15.31	15.21	13.07	15.13	12.42
Key metrics
	—	—	—	—	—	—	—	13,953	13,552	12,353	13,050	11,773
	—	—	—	—	—	—	—	98.60%	99.90%	94.90%	103.20%	98.30%
	23.00%	29.00%	23.40%	27.10%	29.30%	30.40%	27.90%	28.50%	29.50%	26.40%	31.80%	27.30%
	-2.40%	-2.40%	-5.10%	5.30%	11.10%	12.50%	19.90%	18.20%	—	—	—	—
	-23.40%	-6.80%	-20.60%	0.30%	10.50%	29.30%	5.50%	23.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY18
Income statement
	58,321	59,140	55,911	47,214	39,208	39,132	22,358
	106.29	47.26	68.50	67.85	44.67	97.96	82.04
	58,427	59,187	55,980	47,214	39,253	39,230	22,440
	39,430	38,474	36,120	29,434	25,514	26,806	15,589
	0.00	0.00	0.00	0.00	0.00	0.00	—
	0.00	0.00	0.00	0.00	0.00	0.00	—
	263.01	243.29	244.80	213.84	181.63	158.86	176.87
	36,446	36,241	34,135	29,949	23,738	22,053	13,830
	26.69	26.62	24.39	23.72	24.09	17.96	5.61
	1,957	783.53	682.60	164.38	122.69	116.06	111.69
	18,997	20,713	19,860	17,781	13,739	12,425	6,852
	0.00	0.00	0.00	0.00	0.00	0.00	0.47
	18,997	20,713	19,860	17,781	13,739	12,425	6,852
	4,051	4,431	4,147	—	—	—	2,205
	14,946	16,282	15,713	14,019	11,055	10,046	4,647
	56.63	61.71	—	53.11	41.86	50.87	—
Key metrics
	—	—	—	47,754	37,501	34,496	20,687
	—	—	—	101.10%	95.60%	88.20%	92.50%
	25.63%	27.50%	28.10%	29.70%	28.20%	25.70%	20.80%
	-1.23%	5.80%	18.40%	20.40%	0.20%	75.00%	—
	-12.81%	3.60%	12.10%	26.80%	10.00%	116.20%	—
	—	5,839	-39,263	—	—	—	—
	—	0.36	-2.49	—	—	—	—
	—	2.32	2.50	—	—	—	—
	—	1,95,270	1,94,245	—	—	—	—
Balance sheet
	—	6,39,076	6,13,555	—	—	—	—
	—	45.36	54.69	—	—	—	—
	—	—	0.00	—	—	—	—
	—	0.00	0.00	—	—	—	—
	—	565.36	578.16	—	—	—	—
	—	1,95,316	1,94,300	—	—	—	—
	—	84,290	77,638	—	—	—	—
Cash flow
	—	5,914	-39,182	—	—	—	—
	—	-3,319	-1,146	—	—	—	—
	—	-2,375	40,034	—	—	—	—
	—	74.70	81.12	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +14.68%
Sales CAGR 5Y: —
Profit CAGR 3Y: +13.78%
Profit CAGR 5Y: —
Sales YoY (TTM): -1.23%
Profit YoY (TTM): -12.81%

Consolidated

Sales CAGR 3Y: +14.71%
Sales CAGR 5Y: —
Profit CAGR 3Y: +13.45%
Profit CAGR 5Y: —
Sales YoY (TTM): -0.80%
Profit YoY (TTM): -12.56%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 52.63%

Quarter	September 2026	June 2026
Promoter %	52.63%	52.63%

Holder	Type	Holding	Previous	Change
POWER FINANCE CORPORATION LIMITED	Promoter	52.63%	—	—
LIFE INSURANCE CORPORATION OF INDIA	Public	5.66%	3.33%	+2.33%
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA GROWTH MID CAP FUND	Public	2.10%	1.86%	+0.24%
NPS TRUST-A/C LIC PENSION FUND SCHEME - STATE GOVT	Public	1.36%	1.55%	-0.19%
TATA AIG GENERAL INSURANCE COMPANY LIMITED	Public	1.19%	1.19%	0.00%
President of India	Promoter	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Power Finance Corporation Ltd	1,06,230	321.90	3.16	—	+1.84% TTM	+1.69% TTM	-18.76%
Indian Railway Finance Corporation S	1,01,804	77.90	13.81	—	+12.52% TTM	+7.86% TTM	-36.25%
REC LIMITED	75,560	286.95	5.00	—	-0.80% TTM	-12.56% TTM	-22.60%
Housing &Urban Development Corporation Ltd.	30,679	153.25	7.20	—	+25.42% TTM	+59.00% TTM	-34.20%
Indian Renewable Energy Development Agency Limited S	29,778	106.00	15.12	—	+16.96% TTM	+14.31% TTM	-29.80%
IFCI Ltd.	16,031	59.50	37.06	—	+4.76% TTM	-13.32% TTM	+5.83%
Tourism Finance Corpn. Of India Ltd S	7,454	161.00	45.55	—	+19.31% TTM	+45.51% TTM	+130.07%
Haryana Financial Corporation ltd. S	1,057	57.25	154.73	4.90%	—	+462.38% TTM	-32.44%
Gujarat State Financial corporation S	75	8.37	-0.72	—	+7.72% TTM	+17.09% TTM	-34.76%

Filings & corporate actions

Recent announcements

Transcript of Investors Conference Call held on October 29, 2026.4 Nov 2026 · Company Update / Analyst / Investor Meet
Intimation regarding change in Senior Management.31 Oct 2026 · Company Update / Change in Management
Intimation of incorporation of subsidiary company.30 Oct 2026 · Company Update / General
Intimation of audio recording of Investors Conference Call.29 Oct 2026 · Company Update / Analyst / Investor Meet
Newspaper Clippings in respect of Financial Results and Record Date.27 Oct 2026 · Company Update / Newspaper Publication
Intimation of Investors Conference Call on Thursday, October 29, 2026.26 Oct 2026 · Company Update / Analyst / Investor Meet
Outcome of Board Meeting held on October 26, 2026.26 Oct 2026 · Result / Financial Results
Record Date of 2nd Interim Dividend for the financial year 2026-27.26 Oct 2026 · Corp. Action / Record Date
Outcome of Board Meeting held on October 26, 2026.26 Oct 2026 · Board Meeting / Outcome of Board Meeting
Intimation of incorporation of subsidiary companies.23 Oct 2026 · Company Update / General
REC Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 26/10/2026 ,inter alia, to consider and approve financial results for the quarter and half ....21 Oct 2026 · Board Meeting / Board Meeting
Intimation of reciept of NOC from NSE and BSE in relation to proposed scheme of merger of REC Limited with and into Power Finance Corporation Limited.19 Oct 2026 · Company Update / Scheme of Arrangement
Intimation of sale and transfer of project specific SPV/Subsidiary.16 Oct 2026 · Company Update / General
Intimation of reciept of No Objection Certificate from the Reserve Bank of India in relation to proposed scheme of merger.15 Oct 2026 · Company Update / General
Intimation of sale and transfer of project specific SPVs/Subsidiaries.12 Oct 2026 · Company Update / General
Certificate under Regulation 74 (5) of the SEBI (Depository and Particiapnts) Regulations, 2018.6 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation of incorporation of subsidiary companies.6 Oct 2026 · Company Update / General
Intimation for closure of Trading Window.29 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Board commnets on fine levied by the Exchanges.28 Sep 2026 · Company Update / General
Intimation of sale and transfer of project specific SPV/Subsidiary.28 Sep 2026 · Company Update / General
Intimation of sale and transfer of project specific SPV/ Subsidiary.26 Sep 2026 · Company Update / General
Intimation of sale and transfer of project specific SPVs/Subsidiaries.23 Sep 2026 · Company Update / General
Intimation regarding completion of tenure of Independent Directors of REC Limited.22 Sep 2026 · Company Update / Change in Directorate
Intimation regarding change in Senior Management.10 Sep 2026 · Company Update / Change in Management
Intimation of sale and transfer of project specific SPV/ Subsidiary.9 Sep 2026 · Company Update / General
Intimation regarding appointment of Statutory Auditors of REC Limited.8 Sep 2026 · Company Update / Appointment of Statutory Auditor/s
The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Life Insurance Corporation of India8 Sep 2026 · Insider Trading / SAST / Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011
Press Release7 Sep 2026 · Company Update / General
Intimation of revision in Credit Rating and its Outlook.7 Sep 2026 · Company Update / Credit Rating
Declaration of Voting Results of 57th AGM of REC Limited.27 Aug 2026 · AGM/EGM / AGM
Intimation regarding imposition of fines by Stock Exchanges.26 Aug 2026 · Company Update / General
Proceedings of 57th AGM of REC Limited.25 Aug 2026 · AGM/EGM / AGM
Intimation of incorporation of subsidiary companies.25 Aug 2026 · Company Update / General
Intimation of sale and transfer of project specific SPV/Subsidiary.21 Aug 2026 · Company Update / General
Intimation of sale and transfer of project specific SPV/ Subsidiary.14 Aug 2026 · Company Update / General
Intimation regarding change in Senior Management.4 Aug 2026 · Company Update / Change in Management
Intimation regarding change in Internal Auditor.1 Aug 2026 · Company Update / General
Newspaper Publication in respect of Notice of 57th Annual General Meeting & e-voting information.31 Jul 2026 · Company Update / Newspaper Publication
Annual Report of the Company for the financial year 2025-26.30 Jul 2026 · Others / Reg. 34 (1) Annual Report
Business Responsibility & Sustainability Report for the financial year 2025-26.30 Jul 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)

Corporate actions

Purpose	Ex date	Record date	Payment date
Interim Dividend - Rs. - 3.5000	30 Oct 2026	30 Oct 2026	—
Final Dividend - Rs. - 1.5500	14 Aug 2026	14 Aug 2026	—
Interim Dividend - Rs. - 4.2500	31 Jul 2026	31 Jul 2026	—
Interim Dividend - Rs. - 3.2000	20 Mar 2026	20 Mar 2026	—
Interim Dividend - Rs. - 4.6000	6 Feb 2026	6 Feb 2026	—
Interim Dividend - Rs. - 4.6000	27 Oct 2025	27 Oct 2025	—
Final Dividend - Rs. - 2.6000	14 Aug 2025	14 Aug 2025	—
Interim Dividend - Rs. - 4.6000	1 Aug 2025	1 Aug 2025	—
Interim Dividend - Rs. - 3.6000	26 Mar 2025	26 Mar 2025	—
Interim Dividend - Rs. - 4.3000	14 Feb 2025	14 Feb 2025	—
Interim Dividend - Rs. - 4.0000	8 Nov 2024	8 Nov 2024	—
Interim Dividend - Rs. - 3.5000	9 Aug 2024	9 Aug 2024	—
Final Dividend - Rs. - 5.0000	28 Jun 2024	28 Jun 2024	—

Board meetings

26 Oct 2026 Board Meeting - Financial Results
24 Jul 2026 Board Meeting - Financial Results