About Rec Limited
Data last updated: 28 September 2026
Rec Limited is a public limited union government company based in New Delhi, Delhi, India, a subsidiary of Power Finance Corporation Limited and recognised as a startup by DPIIT. It specialises in non-banking financial services (NBFC), a part of the broader financial services sector. Incorporated on 25 July 1969, the company has been in operation for over 57 years.
Registered with ROC Delhi under CIN L40101DL1969GOI005095. Listed on BSE: 532955 and NSE: RECLTD.
Capital: an authorised share capital of ₹5,000 Cr and a paid-up capital of ₹2,633.22 Cr. Formerly known as Rural Electrification Corporation Limited and Rural Electrification Corporation Private Limited. It is led by directors including Thangarajan Subash Chandira Bosh and Jitendra Srivastava.
Last AGM: 27 August 2025. Financial statements filed for year ended 31 March 2025. Office: Core 4Scope Complex 7 Lodi Road, New Delhi, Delhi, India – 110003.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹59,586 Cr, a growth of 5.71% compared to the previous year. The net worth stands at ₹85,054 Cr (up 8.52% YoY). Total assets are valued at ₹599,780 Cr (up 4.38% YoY).
It operates as a subsidiary of Power Finance Corporation Limited. Its group structure includes 24 subsidiaries.
The company is associated with 2 brands - Recipmt, Rec. As per MCA filings, the company has open charges of ₹81,762 Cr and satisfied charges of ₹139,771 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website recindia.nic.in.
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EmailLocked
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TelephoneLocked
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Website
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Social Media
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Registered AddressCore 4Scope Complex 7 Lodi Road, New Delhi, Delhi, India – 110003
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IndustryFinancial Services, NBFC, Infra Finance Institutions
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
Name History of Rec Limited
Rec Limited has undergone 2 name changes throughout its history. The company was previously known as Rural Electrification Corporation Limited, and Rural Electrification Corporation Private Limited. The current legal name is Rec Limited, reflecting the company's evolution and rebranding over time.
| Company Name | Status |
|---|---|
| Rec Limited | Current |
| Rural Electrification Corporation Limited | Previous |
| Rural Electrification Corporation Private Limited | Previous |
CIN History of Rec Limited
Rec Limited has one previous CIN (Corporate Identification Number): U40101DL1969GOI005095. The current CIN is L40101DL1969GOI005095, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L40101DL1969GOI005095 | Current |
| U40101DL1969GOI005095 | Previous |
Associated Brands with Rec Limited
Rec Limited operates two associated brands: RECIPMT and REC. These brands represent Rec Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Infrastructural financing is provided for development projects in India. | recindia.nic.in | |
| Training institute focused on power and energy sectors in India. | recipmt.com |
Business Activity of Rec Limited
Rec Limited operates primarily in the financial and insurance service sector. The company has 1 registered business activity segment, reflecting its diverse operational portfolio.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| Locked | Financial and insurance Service | Locked | Financial and Credit leasing activities | Locked |
Detailed business activity records for Rec Limited
Activity codes and turnover contribution percentages require an active report plan.
- Activity group codes
- Detailed activity codes
- Turnover contribution
Verified entity values are shown only after access is granted.
Auditor Details of Rec Limited
Rec Limited is audited by G.S.MATHUR & Co. for the financial year 2018. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| G.S.MATHUR & Co. | Locked | Locked | Locked |
Complete auditor history for Rec Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Rec Limited
Rec Limited is currently managed by 5 directors, with 53 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
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Thangarajan Subash Chandira Bosh
Also directs:
Bihar Grid Company Limited, Rec Power Development And Consultancy Limited, U.P. Power Transmission Corporation Limited and 5 more
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Additional Director | 03 Oct 2025 | 0 Years 11 Months | Current |
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Jitendra Srivastava
Also directs:
Rec Power Development And Consultancy Limited
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Managing Director | 22 Apr 2025 | 1 Years 5 Months | Current |
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Shashank Misra
Also directs:
Power Finance Corporation Limited
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Nominee Director | 21 Aug 2023 | 3 Years 1 Months | Current |
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Rajesh Kumar
Also directs:
Rec Power Development And Consultancy Limited, Kallam Transco Limited, Rajasthan Iv A Power Transmission Limited and 5 more
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Additional Director | 02 Apr 2026 | 0 Years 5 Months | Current |
| Rajesh Kumar Agarwal | Nominee Director | 01 May 2026 | 0 Years 4 Months | Current |
Financials of Rec Limited FY 2025-26 filings available
Rec Limited reported revenue of ₹59,586 Cr (up 5.71% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 59,586 | 56,369 | 47,517 | 39,486 | 39,276 | 35,557 | 29,942 |
| Revenue growth | +20.2% | +9998.0% | - | -61.5% | +46.8% | -17.3% | +133.8% |
| EBITDA | 56,989 | 54,208 | 47,878 | 37,621 | 34,437 | 32,261 | 25,959 |
| EBITDA margin | +95.6% | +96.2% | +100.8% | +95.3% | +87.7% | +90.7% | +86.7% |
| Profit before tax | 20,766 | 20,117 | 17,960 | 13,898 | 12,431 | 10,780 | 7,030 |
| Net profit | 16,331 | 15,890 | 14,149 | 11,169 | 10,014 | 8,381 | 4,973 |
| Net profit margin | +27.4% | +28.2% | +29.8% | +28.3% | +25.5% | +23.6% | +16.6% |
| EPS (₹) | 61.93 | 60.32 | 53.72 | 42.41 | 50.82 | 42.42 | 25.18 |
| Balance sheet | |||||||
| Total assets | 5,99,780 | 5,74,619 | 5,14,918 | 4,38,910 | 3,84,357 | 3,73,487 | 3,21,685 |
| Net worth | 85,054 | 78,376 | 69,350 | 58,121 | 51,314 | 43,764 | 35,396 |
| Total debt | 5,14,725 | 4,96,243 | 4,45,568 | 3,80,790 | 3,33,043 | 3,29,723 | 2,86,289 |
| Cash & bank | 1,611 | 2,343 | 2,962 | 2,396 | 2,660 | 3,403 | 3,975 |
| Net working capital | 6,422 | 5,283 | 7,217 | 9,705 | 6,441 | 3,180 | 4,711 |
| Cash flow | |||||||
| Cash from operations | 5,972 | (39,064) | (57,723) | (37,360) | (3,910) | (43,512) | (32,712) |
| Cash from investing | (3,308) | (1,302) | (1,831) | (943) | (287) | 861 | 121 |
| Cash from financing | (2,375) | 40,034 | 59,588 | 38,123 | 3,159 | 42,113 | 33,926 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14,435 | 14,564 | 15,051 | 15,153 | 14,737 | 15,334 | 14,272 | 13,682 |
| Revenue growth (YoY) | -2.1% | -5.0% | +5.5% | +10.8% | +12.7% | +21.0% | +18.4% | +17.1% |
| Other income | 34.57 | 19.57 | 7.52 | 9.71 | 86.53 | 14.83 | 14.99 | 23.88 |
| EBITDA | 13,988 | 13,333 | 14,378 | 14,677 | 14,521 | 14,250 | 14,009 | 13,585 |
| EBITDA margin | +96.9% | +91.5% | +95.5% | +96.9% | +98.5% | +92.9% | +98.2% | +99.3% |
| Depreciation | 6.79 | 6.89 | 6.80 | 6.66 | 6.70 | 6.49 | 6.31 | 5.98 |
| Interest | 8,748 | 8,931 | 9,243 | 9,131 | 8,934 | 8,768 | 8,837 | 8,506 |
| Profit before tax | 5,268 | 4,415 | 5,136 | 5,549 | 5,666 | 5,490 | 5,181 | 5,097 |
| Tax | 1,076 | 1,039 | 1,084 | 1,134 | 1,201 | 1,180 | 1,105 | 1,060 |
| Net profit | 4,193 | 3,375 | 4,052 | 4,415 | 4,466 | 4,310 | 4,076 | 4,038 |
| EPS (₹) | 15.92 | 12.69 | 15.39 | 16.77 | 16.96 | 16.24 | 15.48 | 15.33 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 59,142 | 55,912 | 47,159 | 39,216 | 39,169 | 35,392 | 29,773 |
| Revenue growth | +12.5% | +9998.0% | - | -63.0% | +50.0% | -17.8% | +141.1% |
| EBITDA | 56,936 | 53,952 | 47,698 | 37,464 | 34,434 | 32,236 | 25,934 |
| EBITDA margin | +96.3% | +96.5% | +101.1% | +95.5% | +87.9% | +91.1% | +87.1% |
| Profit before tax | 20,713 | 19,860 | 17,781 | 13,739 | 12,425 | 10,756 | 6,983 |
| Net profit | 16,291 | 15,719 | 14,023 | 11,057 | 10,024 | 8,365 | 4,887 |
| Net profit margin | +27.5% | +28.1% | +29.7% | +28.2% | +25.6% | +23.6% | +16.4% |
| EPS (₹) | 61.83 | 59.67 | 53.24 | 41.98 | 50.87 | 42.34 | 24.74 |
| Balance sheet | |||||||
| Total assets | 5,99,062 | 5,73,927 | 5,14,397 | 4,38,516 | 3,84,087 | 3,73,209 | 3,21,417 |
| Net worth | 84,290 | 77,638 | 68,783 | 57,680 | 50,986 | 43,426 | 35,077 |
| Total debt | 5,14,772 | 4,96,289 | 4,45,614 | 3,80,836 | 3,33,102 | 3,29,782 | 2,86,340 |
| Cash & bank | 927 | 1,750 | 2,499 | 1,987 | 2,422 | 3,070 | 3,700 |
| Net working capital | 5,762 | 4,641 | 6,745 | 9,374 | 6,230 | 2,997 | 4,536 |
| Cash flow | |||||||
| Cash from operations | 5,914 | (39,182) | (57,885) | (37,482) | (872) | (43,520) | (32,448) |
| Cash from investing | (3,319) | (1,146) | (1,875) | (804) | (210) | 864 | (136) |
| Cash from financing | (2,375) | 40,034 | 59,588 | 38,111 | 67.73 | 42,119 | 33,919 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14,296 | 14,386 | 14,944 | 15,084 | 14,646 | 15,159 | 14,157 | 13,571 |
| Revenue growth (YoY) | -2.4% | -5.1% | +5.6% | +11.2% | +12.5% | +20.2% | +18.2% | +17.2% |
| Other income | 35.30 | 20.29 | 8.24 | 10.48 | 87.39 | 14.71 | 15.52 | 24.52 |
| Total expenses | 367 | 1,071 | 586 | 404 | 145 | 1,013 | 219 | 43.64 |
| EBITDA | 13,929 | 13,315 | 14,358 | 14,681 | 14,501 | 14,146 | 13,938 | 13,528 |
| EBITDA margin | +97.4% | +92.6% | +96.1% | +97.3% | +99.0% | +93.3% | +98.4% | +99.7% |
| Depreciation | 6.65 | 6.75 | 6.67 | 6.58 | 6.62 | 6.41 | 6.23 | 5.90 |
| Interest | 8,748 | 8,932 | 9,243 | 9,132 | 8,935 | 8,770 | 8,837 | 8,507 |
| Profit before tax | 5,209 | 4,397 | 5,116 | 5,553 | 5,647 | 5,385 | 5,110 | 5,040 |
| Tax | 1,060 | 1,035 | 1,073 | 1,127 | 1,196 | 1,148 | 1,081 | 1,034 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14,435 | 14,564 | 15,051 | 15,153 | 14,737 | 15,334 | 14,272 | 13,682 |
| Revenue growth (YoY) | -2.1% | -5.0% | +5.5% | +10.8% | +12.7% | +21.0% | +18.4% | +17.1% |
| Other income | 34.57 | 19.57 | 7.52 | 9.71 | 86.53 | 14.83 | 14.99 | 23.88 |
| EBITDA | 13,988 | 13,333 | 14,378 | 14,677 | 14,521 | 14,250 | 14,009 | 13,585 |
| EBITDA margin | +96.9% | +91.5% | +95.5% | +96.9% | +98.5% | +92.9% | +98.2% | +99.3% |
| Depreciation | 6.79 | 6.89 | 6.80 | 6.66 | 6.70 | 6.49 | 6.31 | 5.98 |
| Interest | 8,748 | 8,931 | 9,243 | 9,131 | 8,934 | 8,768 | 8,837 | 8,506 |
| Profit before tax | 5,268 | 4,415 | 5,136 | 5,549 | 5,666 | 5,490 | 5,181 | 5,097 |
| Tax | 1,076 | 1,039 | 1,084 | 1,134 | 1,201 | 1,180 | 1,105 | 1,060 |
| Net profit | 4,193 | 3,375 | 4,052 | 4,415 | 4,466 | 4,310 | 4,076 | 4,038 |
| EPS (₹) | 15.92 | 12.69 | 15.39 | 16.77 | 16.96 | 16.24 | 15.48 | 15.33 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 59,586 | 56,369 | 47,517 | 39,486 | 39,276 | 35,557 | 29,942 |
| Revenue growth | +20.2% | +9998.0% | - | -61.5% | +46.8% | -17.3% | +133.8% |
| Other income | 42.33 | 65.50 | 53.87 | 34.17 | 62.74 | 18.95 | 74.02 |
| Total expenses | 2,597 | 2,161 | (360) | 1,865 | 4,839 | 3,296 | 3,983 |
| Employee cost | 272 | 268 | 238 | 204 | 180 | 164 | 193 |
| EBITDA | 56,989 | 54,208 | 47,878 | 37,621 | 34,437 | 32,261 | 25,959 |
| EBITDA margin | +95.6% | +96.2% | +100.8% | +95.3% | +87.7% | +90.7% | +86.7% |
| Depreciation | 27.05 | 24.70 | 23.99 | 24.26 | 18.24 | 10.86 | 11.77 |
| Interest | 36,238 | 34,131 | 29,948 | 23,733 | 22,051 | 21,489 | 18,991 |
| Profit before tax | 20,766 | 20,117 | 17,960 | 13,898 | 12,431 | 10,780 | 7,030 |
| Tax | 4,458 | 4,233 | 3,814 | 2,731 | 2,395 | 2,401 | 2,058 |
| Net profit | 16,331 | 15,890 | 14,149 | 11,169 | 10,014 | 8,381 | 4,973 |
| Net profit margin | +27.4% | +28.2% | +29.8% | +28.3% | +25.5% | +23.6% | +16.6% |
| EPS (₹) | 61.93 | 60.32 | 53.72 | 42.41 | 50.82 | 42.42 | 25.18 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 3,192 | 3,192 | 2,633 | 2,633 | 1,975 | 1,975 | 1,975 |
| Reserves & surplus | 81,863 | 75,184 | 66,159 | 54,929 | 48,781 | 41,231 | 33,422 |
| Shareholders' funds (net worth) | 85,054 | 78,376 | 69,350 | 58,121 | 51,314 | 43,764 | 35,396 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 54,097 | 54,645 | 55,113 | 51,498 | 40,541 | 35,480 | 39,902 |
| Unsecured loans | 4,60,628 | 4,41,597 | 3,90,455 | 3,29,292 | 2,92,502 | 2,94,243 | 2,46,387 |
| Total debt | 5,14,725 | 4,96,243 | 4,45,568 | 3,80,790 | 3,33,043 | 3,29,723 | 2,86,289 |
| Total liabilities | 5,99,780 | 5,74,619 | 5,14,918 | 4,38,910 | 3,84,357 | 3,73,487 | 3,21,685 |
| Assets | |||||||
| Gross block | 743 | 739 | 731 | 724 | 697 | 320 | 219 |
| Net block | 616 | 629 | 632 | 641 | 628 | 267 | 166 |
| Capital work in progress | 128 | 76.01 | 23.59 | 2.72 | 6.07 | 336 | 288 |
| Investments | 9,831 | 6,674 | 5,352 | 3,170 | 2,190 | 1,981 | 2,386 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 293 | 235 | 154 | 113 | 94.55 | 140 | 111 |
| Cash & bank balances | 1,611 | 2,343 | 2,962 | 2,396 | 2,660 | 3,403 | 3,975 |
| Loans & advances | 44,896 | 42,588 | 37,374 | 33,789 | 30,190 | 27,017 | 25,970 |
| Total current assets | 46,801 | 45,167 | 40,491 | 36,298 | 32,945 | 30,560 | 30,056 |
| Total current liabilities | 40,378 | 39,883 | 33,273 | 26,592 | 26,503 | 27,380 | 25,345 |
| Net working capital | 6,422 | 5,283 | 7,217 | 9,705 | 6,441 | 3,180 | 4,711 |
| Total assets | 5,99,780 | 5,74,619 | 5,14,918 | 4,38,910 | 3,84,357 | 3,73,487 | 3,21,685 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | (337) | (4.69) | (38.89) | 141 | 1,179 | 1,718 | 382 |
| Net cash from operating activities | 5,972 | (39,064) | (57,723) | (37,360) | (3,910) | (43,512) | (32,712) |
| Net cash from investing activities | (3,308) | (1,302) | (1,831) | (943) | (287) | 861 | 121 |
| Net cash from financing activities | (2,375) | 40,034 | 59,588 | 38,123 | 3,159 | 42,113 | 33,926 |
| Net change in cash | 289 | (333) | 34.21 | (180) | (1,038) | (538) | 1,336 |
| Closing cash | 1,611 | 2,343 | 2,962 | 2,396 | 2,660 | 3,403 | 3,975 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +5.7% | +18.6% | +20.3% | +0.5% | +10.5% | +18.8% | +17.9% |
| EBITDA growth | +5.1% | +13.2% | +27.3% | +9.3% | +6.8% | +24.3% | +9.5% |
| PBT growth | +3.2% | +12.0% | +29.2% | +11.8% | +15.3% | +53.3% | -13.1% |
| Net income growth | +2.8% | +12.3% | +26.7% | +11.5% | +19.5% | +68.5% | -13.4% |
| Revenue CAGR (3Y) | +14.7% | +12.8% | +10.2% | +9.7% | +15.6% | +16.2% | +7.2% |
| EBITDA CAGR (3Y) | +14.9% | +16.3% | +14.1% | +13.2% | +13.3% | +18.7% | +5.0% |
| Profitability & leverage | |||||||
| Net income margin | +27.4% | +28.2% | +29.8% | +28.3% | +25.6% | +23.6% | +16.6% |
| Return on capital employed | +9.7% | +10.0% | +10.1% | +9.1% | +9.1% | +9.3% | +8.7% |
| Return on net worth | +20.1% | +21.6% | +22.2% | +20.4% | +21.1% | +21.2% | +14.2% |
| Debt / equity | 6.19 | 6.38 | 6.48 | 6.52 | 6.97 | 7.78 | 7.59 |
| Long-term debt / equity | 6.12 | 6.29 | 6.37 | 6.48 | 6.82 | 7.54 | 7.39 |
| Interest cover | 63.62 | 62.99 | 62.58 | 63.13 | 64.07 | 66.63 | 73.19 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EPS (₹) | 61.93 | 60.32 | 53.72 | 42.41 | 50.82 | 42.42 | 25.18 |
| Dividend per share (₹) | 18.55 | 18.00 | 16.00 | 12.60 | 15.30 | 12.71 | 11.00 |
| Book value per share (₹) | 320.88 | 295.52 | 261.25 | 218.60 | 257.00 | 218.77 | 179.23 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14,296 | 14,386 | 14,944 | 15,084 | 14,646 | 15,159 | 14,157 | 13,571 |
| Revenue growth (YoY) | -2.4% | -5.1% | +5.6% | +11.2% | +12.5% | +20.2% | +18.2% | +17.2% |
| Other income | 35.30 | 20.29 | 8.24 | 10.48 | 87.39 | 14.71 | 15.52 | 24.52 |
| Total expenses | 367 | 1,071 | 586 | 404 | 145 | 1,013 | 219 | 43.64 |
| EBITDA | 13,929 | 13,315 | 14,358 | 14,681 | 14,501 | 14,146 | 13,938 | 13,528 |
| EBITDA margin | +97.4% | +92.6% | +96.1% | +97.3% | +99.0% | +93.3% | +98.4% | +99.7% |
| Depreciation | 6.65 | 6.75 | 6.67 | 6.58 | 6.62 | 6.41 | 6.23 | 5.90 |
| Interest | 8,748 | 8,932 | 9,243 | 9,132 | 8,935 | 8,770 | 8,837 | 8,507 |
| Profit before tax | 5,209 | 4,397 | 5,116 | 5,553 | 5,647 | 5,385 | 5,110 | 5,040 |
| Tax | 1,060 | 1,035 | 1,073 | 1,127 | 1,196 | 1,148 | 1,081 | 1,034 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 59,142 | 55,912 | 47,159 | 39,216 | 39,169 | 35,392 | 29,773 |
| Revenue growth | +12.5% | +9998.0% | - | -63.0% | +50.0% | -17.8% | +141.1% |
| Other income | 45.37 | 67.16 | 55.52 | 36.94 | 61.55 | 18.84 | 55.86 |
| Total expenses | 2,206 | 1,960 | (539) | 1,752 | 4,735 | 3,156 | 3,839 |
| Employee cost | 243 | 245 | 214 | 182 | 160 | 145 | 176 |
| EBITDA | 56,936 | 53,952 | 47,698 | 37,464 | 34,434 | 32,236 | 25,934 |
| EBITDA margin | +96.3% | +96.5% | +101.1% | +95.5% | +87.9% | +91.1% | +87.1% |
| Depreciation | 26.62 | 24.39 | 23.72 | 24.09 | 17.96 | 9.53 | 10.00 |
| Interest | 36,241 | 34,135 | 29,949 | 23,738 | 22,053 | 21,489 | 18,997 |
| Profit before tax | 20,713 | 19,860 | 17,781 | 13,739 | 12,425 | 10,756 | 6,983 |
| Tax | 4,431 | 4,147 | 3,761 | 2,684 | 2,379 | 2,394 | 2,097 |
| Net profit | 16,291 | 15,719 | 14,023 | 11,057 | 10,024 | 8,365 | 4,887 |
| Net profit margin | +27.5% | +28.1% | +29.7% | +28.2% | +25.6% | +23.6% | +16.4% |
| EPS (₹) | 61.83 | 59.67 | 53.24 | 41.98 | 50.87 | 42.34 | 24.74 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 3,192 | 3,192 | 2,633 | 2,633 | 1,975 | 1,975 | 1,975 |
| Reserves & surplus | 81,099 | 74,446 | 65,592 | 54,488 | 48,452 | 40,893 | 33,102 |
| Shareholders' funds (net worth) | 84,290 | 77,638 | 68,783 | 57,680 | 50,986 | 43,426 | 35,077 |
| Secured loans | 54,144 | 54,692 | 55,159 | 51,545 | 40,587 | 35,527 | 39,949 |
| Unsecured loans | 4,60,628 | 4,41,597 | 3,90,455 | 3,29,292 | 2,92,514 | 2,94,256 | 2,46,392 |
| Total debt | 5,14,772 | 4,96,289 | 4,45,614 | 3,80,836 | 3,33,102 | 3,29,782 | 2,86,340 |
| Total liabilities | 5,99,062 | 5,73,927 | 5,14,397 | 4,38,516 | 3,84,087 | 3,73,209 | 3,21,417 |
| Assets | |||||||
| Gross block | 739 | 735 | 727 | 720 | 693 | 316 | 210 |
| Net block | 614 | 628 | 631 | 641 | 628 | 266 | 162 |
| Capital work in progress | 128 | 76.01 | 23.59 | 2.72 | 6.07 | 336 | 288 |
| Investments | 9,799 | 6,642 | 5,320 | 3,138 | 2,158 | 1,910 | 2,313 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank balances | 927 | 1,750 | 2,499 | 1,987 | 2,422 | 3,070 | 3,700 |
| Loans & advances | 44,849 | 42,519 | 37,290 | 33,748 | 30,134 | 26,952 | 25,906 |
| Total current assets | 45,776 | 44,269 | 39,788 | 35,735 | 32,555 | 30,022 | 29,606 |
| Total current liabilities | 40,014 | 39,628 | 33,043 | 26,361 | 26,325 | 27,025 | 25,071 |
| Net working capital | 5,762 | 4,641 | 6,745 | 9,374 | 6,230 | 2,997 | 4,536 |
| Total assets | 5,99,062 | 5,73,927 | 5,14,397 | 4,38,516 | 3,84,087 | 3,73,209 | 3,21,417 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | (516) | (221) | (48.59) | 126 | 1,140 | 1,678 | 343 |
| Net cash from operating activities | 5,914 | (39,182) | (57,885) | (37,482) | (872) | (43,520) | (32,448) |
| Net cash from investing activities | (3,319) | (1,146) | (1,875) | (804) | (210) | 864 | (136) |
| Net cash from financing activities | (2,375) | 40,034 | 59,588 | 38,111 | 67.73 | 42,119 | 33,919 |
| Net change in cash | 220 | (295) | (173) | (175) | (1,014) | (538) | 1,335 |
| Closing cash | 927 | 1,750 | 2,499 | 1,987 | 2,422 | 3,070 | 3,700 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +5.8% | +18.6% | +20.3% | +0.1% | +10.7% | +18.9% | +17.6% |
| EBITDA growth | +5.5% | +13.1% | +27.3% | +8.8% | +6.8% | +24.3% | +9.3% |
| PBT growth | +4.3% | +11.7% | +29.4% | +10.6% | +15.5% | +54.0% | -13.8% |
| Net income growth | +3.6% | +12.1% | +26.8% | +10.3% | +19.8% | +71.2% | -15.2% |
| Revenue CAGR (3Y) | +14.7% | +12.6% | +10.0% | +9.6% | +15.7% | +16.4% | +7.8% |
| EBITDA CAGR (3Y) | +15.0% | +16.2% | +14.0% | +13.0% | +13.2% | +18.8% | +5.2% |
| Profitability & leverage | |||||||
| Net income margin | +27.5% | +28.1% | +29.7% | +28.2% | +25.7% | +23.6% | +16.4% |
| Return on capital employed | +9.7% | +9.9% | +10.0% | +9.1% | +9.1% | +9.3% | +8.7% |
| Return on net worth | +20.3% | +21.6% | +22.2% | +20.4% | +21.3% | +21.3% | +14.1% |
| Debt / equity | 6.24 | 6.43 | 6.54 | 6.57 | 7.02 | 7.85 | 7.65 |
| Long-term debt / equity | 6.18 | 6.34 | 6.42 | 6.52 | 6.87 | 7.61 | 7.46 |
| Interest cover | 63.68 | 63.30 | 62.82 | 63.40 | 64.08 | 66.68 | 73.28 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EPS (₹) | 61.83 | 59.67 | 53.24 | 41.98 | 50.87 | 42.34 | 24.74 |
| Dividend per share (₹) | 18.55 | 18.00 | 16.00 | 12.60 | 15.30 | 12.71 | 11.00 |
| Book value per share (₹) | 317.98 | 292.72 | 259.09 | 216.93 | 255.34 | 217.06 | 177.61 |
Shareholding Pattern of Rec Limited
As per the shareholding pattern for the quarter ended Jun 2026, promoters hold 52.60%, foreign institutional investors hold 15.80%, domestic institutional investors hold 17.00%, retail and other public shareholders hold 14.60% of Rec Limited.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | |
|---|---|---|---|---|
| Promoters | 52.60% | 52.60% | 52.60% | 52.60% |
| Public | 47.40% | 47.40% | 47.40% | 47.40% |
Group Structure of Rec Limited
Rec Limited has 24 subsidiary companies. This group structure data is as of FY 2024. The corporate group structure reflects Rec Limited's business expansion strategy and organizational complexity.
| Company Name | CIN | Shares Held |
|---|---|---|
| Rec Power Development And Consultancy Limited | U40101DL2007GOI165779 | - |
| Mandar Transmission Limited | U40101DL2018GOI331526 | - |
| Meerut Shamli Power Transmission Limited | U40101DL2022GOI408362 | - |
| Neres Xvi Power Transmission Limited | U40106DL2023PLC409758 | - |
| Chandil Transmission Limited | U40108DL2018GOI330905 | - |
| Luhri Power Transmission Limited | U40109DL2022GOI406286 | - |
Showing major subsidiaries. Total: 24.
Charges & Borrowings of Rec Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 12 May 2026 | Sbicap Trustee Company Limited | ₹8,000 Cr | Open |
| 06 May 2025 | Sbicap Trustee Company Limited | ₹10,000 Cr | Open |
| 06 May 2024 | Sbicap Trustee Company Limited | ₹15,000 Cr | Open |
| 01 May 2023 | Sbicap Trustee Company Limited | ₹13,000 Cr | Open |
| 27 Apr 2022 | Sbicap Trustee Company Limited | ₹14,000 Cr | Open |
Total charge records: 105 View all charges
Employees and EPFO Compliance at Rec Limited
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Employee and EPFO history for Rec Limited
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GST Compliance of Rec Limited
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Credit Ratings, Litigation & Regulatory Alerts for Rec Limited
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MSME Payment Delays by Rec Limited
MSME payment history for Rec Limited
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Subsidiaries & Group Companies of Rec Limited
Corporate group structure for Rec Limited
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MCA Filings & Documents of Rec Limited
MCA filings and documents for Rec Limited
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Recent Activity on Rec Limited
Recent News on Rec Limited
Frequently Asked Questions about Rec Limited
Rec Limited is an active public limited union government company in the financial services sector based in New Delhi, Delhi, India. It was incorporated on 25 July 1969 (57+ years old) and is registered under CIN L40101DL1969GOI005095. Listed on BSE: 532955 and NSE: RECLTD.
Rec Limited reported revenue of ₹59,586 Cr for FY 2025-26 (up 5.71% YoY) based on consolidated financials.
The current directors of Rec Limited are:
- Thangarajan Subash Chandira Bosh - Additional Director
- Jitendra Srivastava - Managing Director
- Shashank Misra - Nominee Director
- Rajesh Kumar - Additional Director
- Rajesh Kumar Agarwal - Nominee Director
The primary industry of Rec Limited is financial services. The company specifically operates in nbfc. The company is currently active in this sector.
Yes. Rec Limited is listed on both BSE (code: 532955) and NSE (symbol: RECLTD).
Yes, Rec Limited is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).