REC Ltd.

NSE: RECLTD · Financial Services

₹296.65+0.30%06 Nov 2026

Ask the data

Instant answers about REC Ltd. — computed from its filings, no language model

Market cap₹78,114 cr

Current price₹296.65

High / Low₹385 / ₹284

P/E—

P/B—

Book value—

ROE—

ROCE—

Debt / equity—

Dividend yield7.82%

EPS (TTM)—

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

	FY20	FY21	FY22	FY23	FY24	FY26
Total income	30,007	35,575	39,339	39,520	47,571	59,628
Tax	2,058	2,401	2,395	2,731	3,814	4,458
Operating cash flow	—	—	-3,910	-37,360	-57,723	5,972
Capex	—	—	22	18	34	76
Dividend paid	—	—	2,411	3,120	2,857	6,109
Total assets	3,47,030	4,00,867	4,10,860	4,65,503	5,48,191	6,40,158
Equity	35,396	43,206	50,756	—	—	—

Quarterly performance

last 27 quarters · ₹ crore

showing latest 8 of 27 periods

	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Total income	7,717	7,904	8,448	8,822	9,089	9,216	9,640	10,057	10,070	9,653	9,506	9,964	9,795	10,255	11,092	11,701	12,072	12,707	13,092	13,706	14,287	14,824	15,162	15,059	14,583	14,469	15,010
Other income	4	62	1	12	5	4	8	9	33	20	9	8	14	12	4	13	20	29	14	24	15	87	10	41	20	35	10
Tax	720	190	639	587	549	627	518	642	678	556	496	704	695	836	753	1,048	863	1,150	889	1,060	1,105	1,201	1,134	1,084	1,039	1,076	913
Revenue YoY	—	—	—	—	17.8%	16.6%	14.1%	14.0%	10.8%	4.7%	-1.4%	-0.9%	-2.7%	6.2%	16.7%	17.4%	23.2%	23.9%	18.0%	17.1%	18.4%	13.2%	10.6%	5.4%	—	-2.4%	-1.0%

Earlier results (standalone, Jun '08 – Dec '18)

₹ crore · from BSE, before the NSE XBRL filings begin

REC Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 10 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†
Total income	4,759	6,550	8,257	10,338	13,519	17,007	20,230	23,638	23,351	22,195
Pre-provision op. profit	4,679	6,405	8,092	10,004	11,263	16,307	19,120	22,216	18,522	20,441
Operating margin	98.3%	97.8%	98.0%	96.8%	83.3%	95.9%	94.5%	94.0%	79.3%	92.1%
Other income	140	158	238	171	80	113	159	118	745	363
Interest	2,896	3,911	4,851	6,379	8,006	9,885	11,845	14,283	13,774	13,947
Depreciation	1	2	3	3	4	4	7	5	5	6
Profit before tax	1,921	2,649	3,477	3,793	5,164	6,531	7,427	8,045	8,861	6,852
Tax	633	648	907	976	1,346	1,847	2,167	2,418	2,615	2,205
Net profit	1,288	2,001	2,570	2,817	3,818	4,684	5,260	5,628	6,246	4,647

Quarters

showing latest 8 of 43 periods

	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†
Total income	996	1,118	1,247	1,398	1,461	1,584	1,672	1,834	1,900	2,027	2,142	2,188	2,335	2,532	2,664	2,807	3,069	3,292	3,534	3,625	3,982	4,210	4,373	4,443	4,667	5,024	5,205	5,333	5,663	5,893	6,018	6,064	5,954	5,957	5,646	5,794	5,572	5,493	5,498	5,632	5,739	7,286	7,252
Pre-provision op. profit	970	1,100	1,234	1,375	1,431	1,549	1,638	1,786	1,866	1,989	2,104	2,133	2,261	2,362	2,649	2,731	1,155	3,220	3,437	3,450	3,813	4,031	4,239	4,225	4,489	4,949	4,965	4,716	5,385	5,755	5,568	5,507	5,510	5,722	2,164	5,126	5,143	5,116	5,206	4,976	5,160	6,293	5,916
Operating margin	97.4%	98.4%	99.0%	98.3%	98.0%	97.8%	98.0%	97.4%	98.2%	98.1%	98.2%	97.5%	96.9%	93.3%	99.5%	97.3%	37.6%	97.8%	97.3%	95.2%	95.8%	95.7%	96.9%	95.1%	96.2%	98.5%	95.4%	88.4%	95.1%	97.7%	92.5%	90.8%	92.5%	96.1%	38.3%	88.5%	92.3%	93.1%	94.7%	88.3%	89.9%	86.4%	81.6%
Other income	27	35	29	49	48	39	34	36	29	55	36	118	38	38	35	60	24	22	19	15	20	14	32	47	40	43	39	37	47	31	20	20	97	152	311	184	91	135	104	33	580	13	5
Interest	584	669	788	855	874	941	1,028	1,068	1,101	1,208	1,238	1,304	1,403	1,565	1,645	1,766	1,831	1,960	2,071	2,143	2,244	2,424	2,594	2,623	2,752	2,954	3,045	3,093	3,306	3,517	3,707	3,754	3,553	3,425	3,373	3,423	3,343	3,427	3,434	3,743	3,628	3,779	4,089
Depreciation	0	1	0	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	2	2	2	1	1	1	1	1	1	2	1	1	1	1	1	2	2	2	2
Profit before tax	413	465	474	569	605	646	645	753	793	836	901	946	896	834	1,039	1,025	1,178	1,281	1,383	1,321	1,588	1,619	1,676	1,648	1,775	2,036	1,957	1,659	2,124	2,269	1,880	1,773	2,053	2,447	2,474	1,887	1,890	1,823	1,875	1,265	2,111	2,525	1,830
Tax	140	156	156	181	133	152	170	192	206	218	237	246	234	211	269	262	302	327	357	361	434	509	448	456	492	535	578	563	646	650	510	613	632	695	719	568	589	608	578	430	642	761	555
Net profit	273	309	319	388	472	494	474	561	587	618	664	700	662	623	770	763	877	954	1,027	960	1,154	1,111	1,228	1,192	1,283	1,501	1,380	1,096	1,479	1,619	1,370	1,160	1,421	1,751	1,754	1,319	1,301	1,215	1,296	835	1,469	1,764	1,275
EPS ₹	3.17	3.60	3.71	4.52	5.49	5.76	5.52	6.29	5.95	6.26	6.72	7.10	6.70	6.31	7.79	7.72	8.88	9.66	10.40	9.73	11.68	11.25	12.43	12.07	12.99	15.20	13.97	11.10	14.97	16.40	13.87	11.75	14.39	8.87	8.88	6.68	6.59	6.15	6.56	4.23	7.44	8.93	6.45
Revenue YoY	—	—	—	—	46.7%	41.6%	34.1%	31.1%	30.0%	28.0%	28.2%	19.3%	22.9%	24.9%	24.3%	28.3%	31.4%	30.0%	32.7%	29.1%	29.8%	27.9%	23.8%	22.6%	17.2%	19.3%	19.0%	20.1%	21.3%	17.3%	15.6%	13.7%	5.1%	1.1%	-6.2%	-4.5%	-6.4%	-7.8%	-2.6%	-2.8%	3.0%	32.6%	31.9%
Profit YoY	—	—	—	—	73.1%	60.1%	48.8%	44.6%	24.5%	25.1%	40.1%	24.8%	12.7%	0.8%	15.9%	8.9%	32.4%	53.1%	33.4%	25.9%	31.6%	16.4%	19.6%	24.1%	11.2%	35.1%	12.4%	-8.0%	15.3%	7.9%	-0.7%	5.8%	-3.9%	8.2%	28.1%	13.7%	-8.4%	-30.6%	-26.1%	-36.7%	12.9%	45.3%	-1.7%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 21 periods

	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '26	JUN '26	SEP '26
Asset turnover	0.09	0.10	0.09	0.09	0.09	0.10	0.10	0.10	0.09	0.09	0.08	0.09	0.08	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 13 periods

	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	SEP '25	MAR '26	SEP '26
Share capital	1,975	1,975	1,975	1,975	1,975	—	—	—	—	—	—	—	—
Reserves	30,613	32,571	33,422	41,231	48,781	—	—	—	—	—	—	—	—
Total equity	32,588	34,546	35,396	43,206	50,756	—	—	—	—	—	—	—	—
Deposits	—	—	—	—	—	0	—	—	—	0	0	0	0
Borrowings	2,04,367	2,44,249	2,86,289	3,29,723	3,33,043	1,16,442	1,37,114	1,64,346	1,72,092	1,88,269	1,89,632	1,95,316	2,01,541
Total assets	2,42,370	2,98,454	3,47,030	4,00,867	4,10,860	4,25,098	4,65,503	5,13,181	5,48,191	5,95,227	6,40,351	6,40,158	6,74,188
Advances	2,28,878	2,70,451	3,12,084	3,65,261	3,71,931	—	—	—	—	—	—	—	—
Investments	2,948	2,463	2,386	1,981	2,190	2,573	3,170	3,287	5,352	6,790	8,172	9,831	9,734
Cash & bank balances	248	382	3,975	3,403	2,660	—	—	—	—	—	—	—	—

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 8 periods

	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY26
Cash from operations	-32,510	-35,866	-32,442	-43,512	-3,910	-37,360	-57,723	5,972
Cash from investing	46	457	-149	861	-287	-943	-1,831	-3,308
Cash from financing	28,244	35,543	33,926	42,113	3,159	38,123	59,588	-2,375
Capex	—	—	—	—	22	18	34	76
Free cash flow	—	—	—	—	-3,931	-37,377	-57,756	5,896
Dividends paid	—	—	—	—	2,411	3,120	2,857	6,109

Where the assets sit

Sep '26 · ₹ crore

Investments

₹9,734 cr1%

Other assets

₹6,64,454 cr99%

Peer comparison

largest in Financial Services · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
HDFC Bank Ltd.	12,15,371	788.25	15.2	2.01	13.3%
ICICI Bank Ltd.	11,28,090	1,571.20	19.1	2.75	14.4%
State Bank of India	9,40,157	1,018.50	10.4	1.36	13.1%
Bajaj Finance Ltd.	6,77,005	1,087.75	—	—	—
Kotak Mahindra Bank Ltd.	4,77,499	480.00	22.2	2.45	11.0%
Axis Bank Ltd.	4,11,911	1,322.90	13.8	1.79	13.0%
Shriram Finance Ltd.	2,26,163	961.15	—	—	—
BSE Ltd.	1,55,002	3,800.00	50.3	19.49	38.8%
Cholamandalam Investment and Finance Company Ltd.	1,53,126	1,785.00	—	—	—
Jio Financial Services Ltd.	1,52,665	231.20	—	—	—
REC Ltd.	78,114	296.65	—	—	—

StoxGud checklist: Bearish setup · 1/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-0.8%

6 months-17.5%

1 year-23.1%

3Y CAGR-0.8%

5Y CAGR+20.7%

10Y CAGR+12.1%

50-day avg₹304.63

200-day avg₹339.89

RSI (14)42

Long-term financials (FY13–FY16)

from published annual reports

Year	Revenue	Profit before tax	Net profit
FY16	₹23,756 Cr	₹8,045 Cr	₹5,628 Cr
FY13	₹13,599 Cr	₹5,164 Cr	₹3,818 Cr

Years before FY17 follow the older Indian GAAP standard, so they are not exactly comparable with recent years.

Compare REC Ltd. with

IDBI Bank vs REC Federal Bank vs REC REC vs IndusInd Bank REC vs AU Small Finance Bank

FAQs

What is the share price of REC Ltd.?

REC Ltd. (RECLTD) closed at ₹296.65 on NSE on 06 Nov 2026.

What is the market cap of REC Ltd.?

₹78,114 crore at the latest close.

How fast is REC Ltd. growing?

REC Ltd.: revenue has compounded at 14.9% a year over three years. Latest-quarter revenue is down 1.0% year on year.

How profitable is REC Ltd.?

Profitability ratios for REC Ltd. aren't available yet.

How much debt does REC Ltd. have?

Debt to equity isn't meaningful for REC Ltd. (banks borrow as part of their business) or isn't filed yet.

Financials parsed from REC Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from DEC '19, annual from FY20, balance sheet from Mar '18. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.