RECLTDFinancial Services

REC Limited

Financial Institution · ISIN INE020B01018 · BSE 532955 · NSE EQ · FV ₹10
Last price
₹311
-0.69%today
What this company does

REC Limited operates in Financial Institution, part of the Financial Services sector. It booked ₹14,435 cr of revenue in its latest quarter (Q1 FY27) and kept 29.0% of sales as profit. It is the 3rd largest of 7 Financial Institution companies we track, by market value.

78out of 100
Equitytale Health Score
Solid

Healthier than 78% of companies in Financial Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 95–250 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
34

At close. Not part of the score.

Profitability & returns78

How much profit it earns on the money it employs

Cash quality42

Whether reported profit actually arrives as cash

Growth & consistency58

Whether sales and profit have grown, and how steadily

Valuation99

What today's price implies, against our models or its peers · highest in its sector on what we could measure

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: balance sheet. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 29% net margin
Promoters hold 53%
No promoter shares pledged
Strong 20% return on equity
Watch-outs
! Profit down 6% vs last year
! Carries high debt (D/E 2.3)
! Operating cash flow is negative

What if I invest in RECLTD?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹311 -0.69%
latest close · 2026-09-17
1-year return
+187.3%
52-wk low ₹8252-wk high ₹379
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio4.9Low
LowAverageHigh
P/B ratio0.96Below book
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity19.7%Strong
WeakFairStrong ▸15%
Net margin29.0%Strong
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity2.30High
LowModerateHigh ▸1
More figures
Market cap
₹81,761 cr
Book value
₹323
EPS
₹15.92
latest quarter
Net debt
Enterprise value
EBITDA
EBIT
Operating margin
Return on assets
2.6%
Earnings yield
20.51%
P/S
1.42
Sales / share
₹219.3
Tax rate
20.4%
Face value
₹10
Shares
263.3 cr
Working capital
Current assets
Current liabilities
Delivery %
54.3%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Looks underpricedMedium confidence
Median of 2 models ₹668 vs market price ₹311 — price is 54% below it
Safety cushion+53.5%(target ≥ +20%)
Models span ₹616₹720, midpoint ₹668
Model ₹668
Price ₹311
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹14,435 cr
Other Income₹35 cr
Total Income₹14,469 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹74 cr
Finance Costs₹8,748 cr
Depreciation & Amortisation₹7 cr
Other Expenses₹1,033 cr
Total Expenses₹9,201 cr
Profit before Tax₹5,268 cr
Tax Expense₹1,076 cr
Net Profit₹4,193 cr
Net margin on total income29.0%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹74 cr0.5%
Finance costs₹8,748 cr60.5%
Depreciation & amortisation₹7 cr0.0%
Other expenses₹373 cr2.6%
Tax expense₹1,076 cr7.4%
Profit for the period₹4,193 cr29.0%
Total income ₹14,469 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue15,018 cr14,564 cr14,435 cr
Total income15,059 cr14,583 cr14,469 cr
Expenses9,904 cr10,169 cr9,201 cr
Profit before tax5,136 cr4,415 cr5,268 cr
Tax1,084 cr1,039 cr1,076 cr
Net profit (owners' share)4,052 cr3,375 cr4,193 cr
Net margin (owners' share, on revenue)27.0%23.2%29.0%
EPS (₹)15.3912.6915.92
YoY (latest quarter): total income -2.4% · net profit -6.1%
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹6.40 L cr
Shareholder equity
₹85,054 cr
parent shareholders
Total debt
₹1.95 L cr
Cash
₹293 cr
Cash flow · H1 FY26
Operating
₹-3,005 cr
Investing
₹-1,468 cr
Financing
₹9,916 cr
Peer comparison
Financial Institution · by market value
CompanyPriceMarket capP/E
Power Finance Corporation Limited₹345₹1.14 L cr4.1
Indian Railway Finance Corporation Limited₹79₹1.04 L cr13.5
REC Limitedthis company₹311₹81,761 cr4.9
Housing & Urban Development Corporation Limited₹170₹33,942 cr10.0
Indian Renewable Energy Development Agency Limited₹109₹30,618 cr22.5
IFCI Limited₹77₹20,770 cr160.6
Tourism Finance Corporation of India Limited₹139₹1,257 cr17.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
5.86%
trailing 12 months
Dividend / share (TTM)
₹18.2
Last dividend
₹1.55
ex 14 Aug 2026
ActionDetailEx-date
Dividend₹1.55 / share14 Aug 2026
Dividend₹4.25 / share31 Jul 2026
Dividend₹3.2 / share20 Mar 2026
Dividend₹4.6 / share6 Feb 2026
Dividend₹4.6 / share27 Oct 2025
Dividend₹2.6 / share14 Aug 2025
Who owns it · 2026-06-30
No pledge
Promoter
52.6%
FII / Foreign
15.8%
DII / Domestic
17.0%
Retail / others
14.6%
Smart-money activity
Insider trades
SoldThe President of India (Acting through the Ministry of Power) · Promoters103.94 cr · ₹1039.4 cr28 Mar 19
SoldThe President of India (Acting through the Ministry of Power) · Promoters43.36 L · ₹4.3 cr21 Feb 19
SoldPresident of India · Promoters10.15 cr · ₹101.5 cr4 Dec 18
Bulk / block deals
short · NSE26316 Sep 26
short · NSE715 Sep 26
short · NSE12 Sep 26
Stake changes
SoldHDFC Mutual Fund→ 8.66% · 5.57 cr1 Dec 23
BoughtHDFC Asset Management Company Limited→ 7.15% · 4.00 cr31 Mar 20
SoldPFC Limited · promoter→ 0.00% · 103.94 cr29 Mar 19
What shareholders were asked to approve
8 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Aug 2026
See the official result
1
To receive, consider, approve and adopt the audited standalone & consolidated financial statements of the Company for the financial year ended March 31, 2026, along with the reports of the Board of Directors, Auditors and the comments of the Comptroller & Auditor General of India thereon.
Backed by 89% of shareholders other than promotersneeded 50%
64.02 cr votes for, 7.94 cr against · 11% of mutual funds and other big investors said no
2
To take note of the payment of 1st, 2nd, 3rd and 4th interim dividends and declare final dividend on equity shares of the Company for the financial year 2025-26.
Backed by 99% of shareholders other than promotersneeded 50%
72.24 cr votes for, 98.65 L against · 1% of mutual funds and other big investors said no
3
To appoint a Director in place of Shri Shashank Misra (DIN: 08364288), who retires by rotation and being eligible, offers himself for re-appointment.
⚑ Passed only because promoters voted yes
Backed by 47% of shareholders other than promotersneeded 50%
34.69 cr votes for, 38.47 cr against · 53% of mutual funds and other big investors said no
4
To fix the remuneration of Statutory Auditors for the financial year 2026-27.
Backed by 97% of shareholders other than promotersneeded 50%
70.91 cr votes for, 2.32 cr against · 3% of mutual funds and other big investors said no
7
To approve the appointment of Shri Rajesh Kumar Agarwal (DIN: 09699001) as Director (“Nominee Director of Power Finance Corporation Limited”).
⚑ Passed only because promoters voted yes
Backed by 48% of shareholders other than promotersneeded 50%
35.30 cr votes for, 37.87 cr against · 52% of mutual funds and other big investors said no
8
Appointment of Dr. Anil Kumar Gupta (DIN: 00442146) as Part-time Non-official Independent Director.
⚑ Passed only because promoters voted yes
Backed by 50% of shareholders other than promotersneeded 75%
36.36 cr votes for, 36.03 cr against · 50% of mutual funds and other big investors said no
9
Appointment of Dr. Kanchiappan Ghayathri Devi (DIN: 07584524) as Part-time Non-official Independent Director.
⚑ Passed only because promoters voted yes
Backed by 50% of shareholders other than promotersneeded 75%
36.34 cr votes for, 36.05 cr against · 50% of mutual funds and other big investors said no
10
Appointment of Smt. Poonam Chauhan (DIN: 11842802) as Part-time Non-official Independent Director.
⚑ Passed only because promoters voted yes
Backed by 70% of shareholders other than promotersneeded 75%
50.83 cr votes for, 21.56 cr against · 30% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 2 named members
owning 52.6% between them · as of 2026-06-30
POWER FINANCE CORPORATION LTD52.63%
President of Indiano shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.