NSE / BSEFinancial Services

₹308.00-4.90-1.57%

P/E5.6Mkt Cap₹96.56 K CrEV/EBITDA9.1

REC LIMITED

P/E5.6Mkt Cap₹96.56 K CrEV/EBITDA9.1

Company Profile

REC Limited, together with its subsidiaries, engages in the provision of financing services for power generation, transmission, and distribution projects in India. The company primarily offers long, medium, and short-terms loans; debt refinancing, equity financing, financing of equipment manufacturing for power sector and coal mines; policy for funding against regulatory assets, and revolving bill payment facility services; and provides letter of undertaking in lieu of bank guarantee, etc. It also acts as a nodal agency for the implementation of Pradhan Mantri Sahaj Bijli Har Ghar Yojana, Pradhan Mantri Surya Ghar Muft Bujli Yojana, Deen Dayal Upadhyaya Gram Jyoti Yojana, and National Electricity Fund. In addition, the company acts as the bid process coordinator for selection of transmission service provider through tariff based competitive bidding process for independent inter-state and intra-state transmission projects; provides project implementation and consultancy services in power sector; and operates National Feeder Monitoring System, a cloud-based IT and analytical platform, designed to monitor the reliability and quality of power. It serves central/state government power utilities, as well as private sector power utilities. REC Limited was formerly known as Rural Electrification Corporation Limited and changed its name to REC Limited in October 2018. The company was incorporated in 1969 and is based in Gurugram, India. REC Limited is a subsidiary of Power Finance Corporation Limited.

Valuation

Market Cap

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Current Price

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—as of 15 Sept 2026

P/E Ratio

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P/B Ratio

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EV / EBITDA

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EV / Sales

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52W High

₹0

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52W Low

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Shares Out

0.00 Cr

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Profitability

Operating Margin

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Net Profit Margin

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EBITDA Margin

0.0%

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Returns

ROE

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ROCE

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ROIC %

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ROA

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Dividend Payout

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Solvency

Current Ratio

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AI Summary

Indian Stock

Strengths1

Strong 5-year net profit CAGR of 23.5%

Concerns1

Negative free cash flow (₹295 Cr)

Rule-based from financial data. Not advice.

Price History▼ 18.64% over 1Y

Technical Chart

Monthly Returns

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Year-to-Date ROI

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Historical Volatility

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Historical Performance

Revenue, profitability, and cash flow trends (₹ Crores)

Revenue (10Y)

Operating Income (10Y)

Net Profit (10Y)

Operating Margin % (10Y)

Dividend Payout % (10Y)

Free Cash Flow (10Y)

Growth Summary

Latest fiscal year: Mar 2025

Revenue₹55.91 K Cr▲ 18.6%

EBITDA Growth—

Net Profit₹15.71 K Cr▲ 12.1%

Cash from Ops (CFO)—

Free Cash Flow (FCF)—▲ 70.5%

Revenue CAGR 5Y9.6%

EBITDA CAGR 5Y12.9%

Net Profit CAGR 5Y23.5%

NP Growth 1Y12.1%

Historical Growth

Year-by-year revenue, profitability, and cash flow (₹ Crores, last 10 years)

Year	Revenue	Op. Income	Net Profit	CFO	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
Mar 2025	₹55.91 K Cr	—	₹15.71 K Cr	—	—	20.2%	18.6%	12.1%
Mar 2024	₹47.16 K Cr	—	₹14.02 K Cr	—	—	20.4%	20.3%	26.8%
Mar 2023	₹39.22 K Cr	—	₹11.05 K Cr	—	—	19.2%	0.1%	10.0%
Mar 2022	₹39.17 K Cr	—	₹10.05 K Cr	—	—	19.7%	10.7%	20.1%
Mar 2021	₹35.39 K Cr	—	₹8.36 K Cr	—	—	19.3%	18.9%	71.1%
Mar 2020	₹29.77 K Cr	—	₹4.89 K Cr	—	—	13.9%	17.6%	-15.2%
Mar 2019	₹25.32 K Cr	—	₹5.76 K Cr	—	—	16.8%	12.7%	30.4%
Mar 2018	₹22.46 K Cr	—	₹4.42 K Cr	—	—	13.7%	-5.4%	-29.2%
Mar 2017	₹23.75 K Cr	—	₹6.25 K Cr	—	—	18.7%	0.0%	11.0%
Mar 2016	₹23.75 K Cr	—	₹5.63 K Cr	—	—	19.7%	16.5%	7.0%

Financial Statements

Income statement, balance sheet, and cash flow (₹ Crores, as reported)

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Consolidated Figures in USD Millions.

Unnamed: 0	TTM
Revenue / Net Sales	59,066
Total Expenses	1,800
EBIT / Operating Profit	57,266
OPM %	97%
Other Income	128
Finance Costs	35,674
Depreciation & Amortisation	26
Profit Before Tax	21,694
Tax %	-
Net Profit / PAT	17,142
EPS (₹)	65.10
Dividend Payout %	-

Peer Comparison

Financials sector peers, ranked by market cap

Company	Market Cap	Revenue	P/E	P/B	EV/EBITDA	Rev G 1Y
REC LIMITEDthis co.	₹96.56 K Cr	₹55.91 K Cr	5.63	1.17	9.09	18.6%
HDFC Bank Ltd.	₹14.43 L Cr	₹3.01 L Cr	20.30	2.78	—	16.3%
ICICI Bank Ltd.	₹10.28 L Cr	₹1.63 L Cr	20.70	3.32	—	14.3%
State Bank Of India	₹9.49 L Cr	₹4.62 L Cr	13.30	1.83	—	11.4%
Bajaj Finance Limited	₹5.91 L Cr	₹61.95 K Cr	36.80	6.33	—	32.0%
LIFE INSURANCE CORPORATION OF INDIA	₹5.26 L Cr	₹8.87 L Cr	10.30	3.73	9.87	5.2%
Kotak Mahindra Bank Ltd.	₹4.24 L Cr	₹52.92 K Cr	31.70	3.39	—	15.5%
Industry Average	—	₹30.80 K Cr	45.91	4.87	70.91	14.6%

Learn while you research

Hand-picked academy chapters to deepen your understanding of REC LIMITED and the metrics that matter.

01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 03 Value InvestingA P/E of 5.6 could be a value opportunity, or a value trap. Know the difference.7 min read 04 Sector AnalysisBanks & financials are uniquely sensitive to rates and credit cycles.6 min read 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read

Key concepts to brush up on

P/E Ratio P/B Ratio ROE ROCE Free Cash Flow Debt / Equity LTCG Tax

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