REC share price
NSE: RECLTDBSE: 532955FinanceMid Cap
REC Limited · Formerly Rural Electrification Corporation · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Mar 2008
Last close ₹290.00up ₹3.50 (1.22%)BSE ₹290.20
Share price at the NSE close on 28 Oct 2026. Previous close ₹286.50.
28 Oct: open ₹286.00, high ₹293.30, low ₹284.00
52-week range of traded prices to 28 Oct 2026
₹283.65Low, 27 Oct 2026₹388.30High, 29 Oct 2025
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹76,363 Cr117th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 5.06
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 0.80
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 4.69%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 16.9%
- NIMNet interest margin. Net interest income ÷ the average assets that earn interest × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. Net interest margin in the glossary
- 3.74%
- Cost of fundsCost of funds. Interest paid ÷ the average of what the company pays interest on × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. Cost of funds in the glossary
- 7.17%
- Credit costCredit cost. What was set aside for loans that may not be repaid ÷ average loans given × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. Credit cost in the glossary
- 0.04%
- ROAReturn on assets. Profit after tax ÷ average total assets × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. It equals net interest income + other income − operating expenses − provisions + exceptional items − tax + the lines below tax, each on the same base. For the year to Mar 2026. Return on assets in the glossary
- 2.60%
- LeverageAssets per rupee of net worth. Average total assets ÷ average net worth: rupees of assets for each rupee of net worth; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. Assets per rupee of net worth in the glossary
- 7.68times net worth
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 41,93,71645.1% delivered
About REC
REC Limited is a Government of India enterprise and a non-banking finance company (a lender that does not take deposits) that funds the power sector across India, from generation to transmission and distribution, as well as roads, metro rail, airports and other infrastructure.12 Its main borrowers are state governments and central and state power utilities, along with private companies building power and infrastructure projects.3
It offers long-term project loans, loans of 1 to 3 years for power utilities' working capital, and loans to makers of power equipment.4 Its wholly owned subsidiary, REC Power Development and Consultancy Limited, carries out power projects, offers consultancy and runs the bidding that selects developers for new transmission lines.5 It has offices mainly in state capitals and a training centre in Hyderabad.1
It began in 1969 to build power infrastructure in rural areas, registered with the Reserve Bank of India as a non-banking finance company in 1998, and listed on NSE and BSE in 2008.6 In 2022 it received Maharatna status, the highest the government grants a central public sector company, and began lending to infrastructure and logistics.7
Power Finance Corporation Limited (PFC), its holding company, owns 52.63% of its shares.38
REC key points
Results
- On a standalone basis, operating income (income from its main business) was ₹59,139.96 crore in the year to Mar 2026, up 5.77%, and net profit was ₹16,282.26 crore, up 3.62% from ₹15,713.21 crore.9
- Consolidated turnover was ₹59,584 crore in the year to Mar 2026, and consolidated net worth (shareholders' funds) ₹85,054 crore.10
- On the same standalone basis, net interest income (interest earned on loans less interest paid on borrowings) was ₹20,750 crore in the year to Mar 2026, and return on net worth (profit as a share of average net worth) 20.11%.11
- Standalone net credit-impaired assets (loans in default, after provisions set aside for them) fell to 0.12% at the end of March 2026 from 0.38% a year earlier.12
Loan book and deposits
- The standalone gross loan book was ₹5.83 lakh crore at the end of March 2026, against ₹5.67 lakh crore a year earlier.13
- Share of the loan book by sector1415The revolving bill payment facility lends to power distribution companies to pay generators and transmission companies for power bought.
Item Mar 2026 Distribution 38% Conventional generation 25% Renewable energy 13% Infrastructure and logistics 10% Transmission 8% Revolving bill payment facility 3% Others 3% - Loans sanctioned (approved) reached a record ₹4.09 lakh crore in the year to Mar 2026, about 21% more than ₹3.37 lakh crore a year earlier. Disbursements (money paid out) were ₹2.11 lakh crore, its highest ever, up 10% from ₹1.91 lakh crore.13
- Renewable energy loans grew 30% to ₹75,347 crore in the year to Mar 2026. In the same year it sanctioned ₹41,784 crore for 7 infrastructure and logistics projects.1617
Customers and partners
- No single borrower accounted for 10% or more of consolidated revenue in the year to Mar 2026 or the year before.18
Borrowing and credit ratings
- Borrowings rose to ₹5.05 lakh crore at the end of March 2026 from ₹4.88 lakh crore, and it raised ₹83,558 crore from the market during the year.19
- It raised ₹30,882 crore through listed bonds in the year to Mar 2026 at a cost of 6.80% a year, which it says is 29 basis points (hundredths of a percentage point) below similarly rated bonds of other central public sector companies and entities.20
- Throughout the year to Mar 2026 its domestic debt was rated AAA, the highest grade, by CRISIL, CARE, India Ratings & Research and ICRA. As of its annual report for that year, Moody's rated it Baa3 and Fitch BBB-, at par with India's sovereign rating.2122
Government scheme roles
- It is the nodal agency (the body that runs the scheme for the government) of the Revamped Distribution Sector Scheme, which funds power distribution upgrades, in 19 States, where projects worth ₹1,60,369 crore were sanctioned by the end of March 2026.23
- It is the national implementing agency for the PM Surya Ghar rooftop solar scheme, which had 33.64 lakh installations with 9.92 GW of capacity by the end of March 2026.2425
- Its subsidiary REC Power Development and Consultancy earned income of ₹501 crore in the year to Mar 2026 and a profit after tax of ₹78.95 crore, against ₹261.65 crore a year earlier. It handed 9 transmission project companies to winning bidders during the year.2627
What the company expects
- The company stated in its annual report for the year to Mar 2026 that it targets raising its clean energy portfolio to about 30% of its loan book by March 2030.2829
- The company stated in its annual report for the year to Mar 2026 that it is focused on scaling its green investments, with emphasis on distributed solar energy, green hydrogen and energy storage.30
Recent events
- The company received a no-objection certificate for the PFC merger from the Reserve Bank of India on 15 Oct 2026 and letters from BSE and NSE on 19 Oct 2026. As of 19 Oct 2026 the scheme still needs other approvals, including shareholders' and creditors'.3132
- In an exchange filing of 7 Sep 2026, the company said Japan Credit Rating Agency had revised its long-term issuer rating of the company to A- from BBB+, with a stable outlook.33
- On 28 Jun 2026 the boards of REC and PFC approved a scheme to merge REC into PFC, following a restructuring proposal in the Union Budget of 1 Feb 2026. The merged company would remain a government company.34
- On 10 Jun 2026 the Ministry of Power conveyed the President's approval of the proposed merger of REC into PFC.35
Last updated
All 35 sources, each with its page
- 1. Annual report, 30 Jul 2026, page 127
- 2. Annual report, 30 Jul 2026, page 8
- 3. Annual report, 30 Jul 2026, page 75
- 4. Annual report, 30 Jul 2026, page 8
- 5. Annual report, 30 Jul 2026, page 28
- 6. Annual report, 30 Jul 2026, page 6
- 7. Annual report, 30 Jul 2026, page 6
- 8. Annual report, 30 Jul 2026, page 29
- 9. Annual report, 30 Jul 2026, page 57
- 10. Annual report, 30 Jul 2026, page 76
- 11. Annual report, 30 Jul 2026, page 20
- 12. Annual report, 30 Jul 2026, page 28
- 13. Annual report, 30 Jul 2026, page 26
- 14. Annual report, 30 Jul 2026, page 20
- 15. Annual report, 30 Jul 2026, page 8
- 16. Annual report, 30 Jul 2026, page 57
- 17. Annual report, 30 Jul 2026, page 20
- 18. Annual report, 30 Jul 2026, page 223
- 19. Annual report, 30 Jul 2026, page 26
- 20. Annual report, 30 Jul 2026, page 27
- 21. Annual report, 30 Jul 2026, page 21
- 22. Annual report, 30 Jul 2026, page 27
- 23. Annual report, 30 Jul 2026, page 27
- 24. Annual report, 30 Jul 2026, page 6
- 25. Annual report, 30 Jul 2026, page 43
- 26. Annual report, 30 Jul 2026, page 48
- 27. Annual report, 30 Jul 2026, page 47
- 28. Annual report, 30 Jul 2026, page 20
- 29. Annual report, 30 Jul 2026, page 25
- 30. Annual report, 30 Jul 2026, page 57
- 31. Exchange filing, 15 Oct 2026, page 1
- 32. Exchange filing, 19 Oct 2026, page 1
- 33. Exchange filing, 7 Sep 2026, page 1
- 34. Annual report, 30 Jul 2026, page 51
- 35. Exchange filing, 10 Jun 2026, page 1
Results
Consolidated; ₹ crore. Income from operations is what the business earns: interest on loans, fees, dividends and the rest.REC quarterly results
- Income from operations growth, 12 monthsIncome from operations growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −0.8%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −12.6%
Quarter to Sep 2026, against the quarter before
- Income from operationsIncome from operations. The pill is the change in income from operations against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹15,000 Crup 3.92%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹3,478 Crdown 17.05%
Income from operations by quarter
Peak income from operations ₹15,334 Cr, quarter to Mar 2025; lowest ₹14,272 Cr, quarter to Dec 2024
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Income from operations | 14,272 | 15,334 | 14,737 | 15,153 | 15,018 | 14,564 | 14,435 | 15,000 |
| Net profit | 4,076 | 4,310 | 4,466 | 4,415 | 4,052 | 3,375 | 4,193 | 3,478 |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- Income from operationsIncome from operations. The pill is the change in income from operations against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹59,584 Crup 5.71%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹16,308 Crup 2.67%
Income from operations by year
Peak income from operations ₹59,584 Cr, year to Mar 2026; lowest ₹23,054 Cr, year to Mar 2018
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income from operations | 23,945 | 23,054 | 25,399 | 29,930 | 35,553 | 39,269 | 39,478 | 47,505 | 56,367 | 59,584 |
| Net profit | 6,313 | 4,689 | 5,741 | 4,972 | 8,378 | 10,036 | 11,167 | 14,145 | 15,884 | 16,308 |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
In the year to Mar 2026 the company reports one business segment, NBFC-IFC, which carries all its revenue.
Valuation
Today, against the company's own history.REC PE ratio and valuation
Price to earnings
At or below today's level on 54% of 2,452 trading days over the last 10 years.
LowestHighest
Its median4.94Industry median14.36
Price to book
At or below today's level on 52% of 1,944 trading days since Dec 2018.
LowestHighest
Its median0.77Industry median1.78
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 18% of 2,478 trading days over the last 10 years.
LowestHighest
Its median7.34%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −22.8% | +2.7% | −30.8% | 6.1% |
| 3 years | +42.9% | +13.5% | +21.8% | 4.6% |
| 5 years | +32.8% | +14.2% | +9.8% | 7.4% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.
Mutual fund holdings
164 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 68 of the 87 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 164 funds holding REC
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 17
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 18
- AddedAdded. Funds that held more shares than at the end of the month before.
- 52
- CutCut. Funds that held fewer shares than at the end of the month before.
- 35
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 41
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 55
| Fund | |||
|---|---|---|---|
 Nippon India Growth Mid Cap FundNippon India Mutual Fund | 3,55,72,282 | 2.12% | ₹1,063.6 Cr |
 Bandhan Small Cap FundBandhan Mutual Fund | 2,55,41,185 | 2.13% | ₹763.7 Cr |
 Kotak Mid Cap FundKotak Mahindra Mutual Fund | 2,17,53,597 | 0.98% | ₹650.4 Cr |
 HDFC Balanced Advantage FundHDFC Mutual Fund | 1,70,00,000 | 0.50% | ₹508.3 Cr |
| Nippon India Small Cap FundNippon India Mutual Fund | 1,15,11,370 | 0.43% | ₹344.2 Cr |
| Nippon India ELSS Tax Saver FundNippon India Mutual Fund | 62,00,000 | 1.32% | ₹185.4 Cr |
 ICICI Prudential ELSS - Tax Saver FundICICI Prudential Mutual Fund | 46,06,332 | 1.02% | ₹137.7 Cr |
 SBI Energy Opportunities FundSBI Mutual Fund | 43,25,000 | 1.62% | ₹129.3 Cr |
| ICICI Prudential Dividend Yield FundICICI Prudential Mutual Fund | 35,44,737 | 1.68% | ₹106.0 Cr |
| Bharat 22 ETFICICI Prudential Mutual Fund | 26,22,920 | 0.82% | ₹78.5 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
REC competitors and peers
Financial Institution, 7 listed companies, priced on 28 Oct 2026. The table lists the 6 companies closest to REC in market cap. 1 company in its own group left out: one owns more than half of the other, directly or through a company it controls, or one owner more than half of both.Finance companies
Where the company sits among the companies nearest its size
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
 Indian Railway Finance CorporationIRFC | 97,530 | 13.23 | 1.61 | +12.5% | +7.9% | 12.6% | – | 1.39% | −4.92% | 2.95% |
 Housing & Urban Development CorporationHUDCO | 29,392 | 6.91 | 1.34 | +25.9% | +53.0% | 21.3% | – | 2.73% | 2.89% | 4.19% |
 Indian Renewable Energy Development AgencyIREDA | 28,258 | 14.36 | 1.97 | – | – | 14.4% | – | 2.16% | 3.92% | 1.34% |
 IFCIIFCI | 15,886 | 91.06 | 1.78 | +4.8% | – | 2.0% | 4.6% | – | – | 0.00% |
 Tourism Finance Corporation of IndiaTFCILTD | 7,266 | 47.15 | 5.52 | +14.8% | +41.4% | 12.2% | – | 5.47% | 6.89% | 0.38% |
 Gujarat State Financial corporationGUJSTATFIN | 73 | – | – | +7.8% | – | – | – | −56.12% | −65.65% | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record; for ROCE and EV/EBITDA, where the company is a lender or an insurer; for NIM and ROA, where the company has no recent year with a balance sheet at its start and its end. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page. ROA is the year's profit over average total assets. NIM is net interest income over average loans and investments. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.
Dividends
Per share, by the year it was paid for, and the latest payments.REC dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹18.55 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 30 Oct 2026 | Interim | ₹3.50 |
| 14 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.55 |
| 31 Jul 2026 | Interim | ₹4.25 |
| 20 Mar 2026 | Interim | ₹3.20 |
| 6 Feb 2026 | Interim | ₹4.60 |
| 27 Oct 2025 | Interim | ₹4.60 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.REC announcements
Oct 2026
26 Oct · Corporate action
26 Oct · Results
23 Oct · General Updates
REC share price by year
Each calendar year to 2025.REC share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 356.80 | −28.7% | 538.05 | 333.95 |
| 2024 | 500.70 | +21.3% | 645.80 | 419.70 |
| 2023 | 412.85 | +254.4% | 444.80 | 111.90 |
| 2022 | 116.50 | +16.1% | 116.50 | 83.40 |
| 2021 | 100.35 | −0.1% | 123.83 | 93.79 |
| 2020 | 100.43 | −6.4% | 116.29 | 60.86 |
| 2019 | 107.33 | +17.2% | 125.63 | 87.60 |
| 2018 | 91.61 | −21.6% | 122.96 | 68.29 |
| 2017 | 116.81 | +24.7% | 165.45 | 93.41 |
| 2016 | 93.64 | +10.2% | 104.44 | 57.47 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 295.30 | 296.80 | 283.65 | 286.50 | 286.95 | 1,39,57,275 | 37.1% |
| 26 Oct 2026 | 291.55 | 298.20 | 289.40 | 298.20 | 294.59 | 33,04,928 | 37.5% |
| 23 Oct 2026 | 301.00 | 302.00 | 290.65 | 293.95 | 293.65 | 31,59,284 | 40.0% |
| 22 Oct 2026 | 301.00 | 302.80 | 295.50 | 301.10 | 300.01 | 40,80,502 | 46.0% |
| 21 Oct 2026 | 303.65 | 305.35 | 299.05 | 302.50 | 300.80 | 64,41,685 | 58.8% |
| 19 Oct 2026 | 307.00 | 309.75 | 302.00 | 302.35 | 306.66 | 35,58,062 | 46.8% |
| 16 Oct 2026 | 311.00 | 312.20 | 306.45 | 307.80 | 308.42 | 53,37,744 | 58.4% |
| 15 Oct 2026 | 311.50 | 313.10 | 308.65 | 309.75 | 310.94 | 52,09,728 | 55.0% |
| 14 Oct 2026 | 307.00 | 314.95 | 304.30 | 311.80 | 310.21 | 93,70,924 | 62.0% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus share history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 4 Jun 2024 | Price move | – | Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for. |
| 17 Aug 2022 | Bonus | 0.7500 | Holders received 1 bonus share for every 3 held. |
| 28 Sep 2016 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.
Company details
- NSE symbol
- RECLTD
- BSE code
- 532955
- ISIN
- INE020B01018
- Industry
- Finance
- Website
- www.recindia.nic.in
- CIN
- L40101DL1969GOI005095
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1969
- Registered office
- Core- 4, SCOPE Complex, 7, Lodhi Road, New Delhi 110003, Delhi
- Share registrar
- Alankit Assignments Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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