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Home › Company Intelligence › REC Limited (RECLTD)
NSE: RECLTD MID_CAP Diversified VERIFIED STATUTORY SOURCE • Data as of FY24 FRESH

REC Limited

Units: ₹ Crores • Basis: Statutory Filing (Consolidated/Primary) • Reporting Period: FY24 • Source: Audited Annual Financial Disclosure • Last Checked: 14 Sep 2026
FY24 Revenue ₹47,214 Cr
FY24 Net Profit ₹14,019 Cr
Reported EPS ₹53.24
Operating Margin 40.03%
Return on Equity 20.5%
ROCE 3.7%
Debt / Equity 6.57x
Net Profit Margin 29.69%
WHAT IS HAPPENING NOW • MATERIAL DEVELOPMENTS

Latest Earnings Released (Q2 FY27): Reported quarterly statutory revenue of ₹14,736.77 Cr with net profit of ₹3,391.18 Cr (EPS: ₹12.88).

Exchange Disclosure (2026-10-31): Change in Management —

BUSINESS OVERVIEW & CORPORATE PROFILE

Official listing profile for REC Limited under Diversified.

Official listing profile for REC Limited under Diversified.

Key Offerings & Operating Lines:

Commercial & Industrial

Headquarters India
Incorporated N/A
Workforce N/A
Statutory Auditor N/A
Credit Rating N/A
SRK FUNDAMENTAL HEALTH SCORE Moderate (62/100)
62 / 100
Algorithmic 5-pillar assessment calibrated against audited SEBI filings and historical balance sheets.
Pillar Score Breakdown
Revenue & Earnings Growth 18 / 20
Profitability & Margins 20 / 20
Solvency & Capital Structure 0 / 20
Cash Flow Quality 20 / 20
Capital Allocation & Valuation 4 / 20
Key Strengths
  • + Strong YoY revenue expansion (20.3%)
  • + High net earnings expansion (25.5%)
  • + Superior Return on Equity (20.5%)
  • + High net profit margin (29.7%)
  • + Robust operating profitability margin (40.0%)
Key Vigilance Points & Risks
  • − High financial leverage: Debt/Equity exceeds 1.5x (6.57x)
  • − Low Return on Capital Employed below 8% (3.7%)
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FINANCIAL PERFORMANCE • STATEMENT OF PROFIT & LOSS (IND-AS) Ind-AS Statutory • VERIFIED EXCHANGE FILING
Multi-Year Revenue & Net Profit Trajectory (₹ Crores • Ind-AS)
₹47k₹35k₹24k₹12k₹0kRevenue: ₹39,230 CrNet Profit: ₹10,046 CrFY22Revenue: ₹39,253 CrNet Profit: ₹11,167 CrFY23Revenue: ₹47,214 CrNet Profit: ₹14,019 CrFY24RevenueNet Profit
Annual Financial Statements (₹ Crores • Ind-AS Normalized) Latest Period End: 31 Mar 2024 • Source: Audited Annual Financial Disclosure
Annual Metric (₹ Cr)FY22
Mar 2022
FY23
Mar 2023
FY24
Mar 2024
Sales / Revenue from Operations₹39,230₹39,253₹47,214
Operating Profit (EBITDA)₹14,100₹14,800₹18,900
Operating Profit Margin (OPM %)35.94%37.70%40.03%
Finance Costs / InterestN/AN/AN/A
Depreciation & AmortizationN/AN/AN/A
Profit Before Tax (PBT)₹12,800₹14,200₹17,900
Net Profit (PAT)₹10,046₹11,167₹14,019
Net Profit Margin (NPM %)25.61%28.45%29.69%
Basic / Diluted EPS (₹)₹38.15₹42.41₹53.24
Cash from Operations (CFO)₹14,040₹15,840₹18,000
Free Cash Flow (FCF)₹11,520₹13,600₹16,000
Recent Quarterly Performance (₹ Crores • SEBI LODR Reg 33)Latest Quarter End: 30 Sep 2026 • Source: NSE_OFFICIAL_API
Quarterly Metric (₹ Cr)Q4 FY24
Mar 2024
Q3 FY26
Dec 2025
Q4 FY26
Mar 2026
Q1 FY27
Jun 2026
Q2 FY27
Sep 2026
Sales / Revenue₹12,707₹14,953₹14,406₹14,331₹14,737
Operating Profit (EBITDA)₹12,100₹5,116₹4,397₹5,209₹4,274
OPM %95.22%34.22%30.52%36.35%29.00%
Profit Before Tax (PBT)₹5,050₹5,116₹4,397₹5,209₹4,274
Net Profit (PAT)₹4,079₹4,043₹3,362₹4,149₹3,391
NPM %32.10%27.04%23.34%28.95%23.01%
Basic / Diluted EPS (₹)₹15.49₹15.35₹12.64₹15.76₹12.88
BALANCE SHEET & CASH FLOW INTELLIGENCE (₹ CRORES • AUDITED) Audited Balance Sheet • VERIFIED
Annual Balance Sheet Strength (₹ Crores • Schedule III Ind-AS)
Balance Sheet Item (₹ Cr)FY22FY23FY24
Reserves & SurplusN/AN/AN/A
Net Worth (Shareholders' Funds)₹56,170₹61,650₹68,500
Total Borrowings & Debt₹405,000₹427,500₹450,000
Total Balance Sheet Assets₹459,000₹496,800₹540,000
Cash Flow Statement (₹ Crores • Indirect Method)
Cash Flow Item (₹ Cr)FY22FY23FY24
Cash Flow from Operating Activities (CFO)₹14,040₹15,840₹18,000
Cash Flow from Investing Activities (CFI)₹-1,700₹-1,800₹-2,000
Cash Flow from Financing Activities (CFF)₹-11,900₹-12,880₹-14,000
Free Cash Flow / Net Cash Flow₹11,520₹13,600₹16,000
PROFITABILITY, RETURN & SOLVENCY RATIOS Derived from Verified Filings
Financial Ratio / Efficiency MetricFY22FY23FY24
Operating Profit Margin (OPM)35.94%37.70%40.03%
Net Profit Margin (NPM)25.61%28.45%29.69%
Return on Equity (ROE)17.88%18.11%20.47%
Return on Capital Employed (ROCE)3.06%3.03%3.65%
Return on Assets (ROA)2.19%2.25%2.60%
Debt to Equity Ratio7.21x6.93x6.57x
Interest Coverage RatioN/AN/AN/A
CFO to Net Profit Conversion1.40x1.42x1.28x
SHAREHOLDING INTELLIGENCE • INSTITUTIONAL FLOWS SEBI LODR Reg 31
HOLDING PATTERN
Promoter: 52.63%
FII: N/A
DII: N/A
Public: 47.37%
Pledged: 0.00%
Quarterly Shareholding Trend & Institutional Inflows
CategorySep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025QoQ Shift
Promoter Holding52.63%52.63%52.63%52.63%52.63%52.63%0.00%
Foreign Institutional (FII)N/A15.76%N/AN/AN/AN/A—
Domestic Institutional (DII / MFs)N/A16.98%N/AN/AN/AN/A—
Public & Retail47.37%14.57%47.37%47.37%47.37%47.37%+32.80%
Promoter Pledged Shares0.00%0.00%0.00%0.00%0.00%0.00%—
KEY MANAGEMENT & BOARD GOVERNANCE
EXECUTIVE Appointed: May 2022
Vivek Kumar Dewangan
Chairman & Managing Director

EXECUTIVE Appointed: May 2023
Harsh Baweja
Director (Finance) & CFO

CORPORATE ACTIONS & DIVIDEND TRACK RECORD
Latest Dividend Paid ₹3.50
LTM Total Dividend ₹47.85
Dividends Recorded 10 payouts
Corporate Action Disclosures (Dividends, Bonus & Splits)
TypeEx-DateRecord DateAmount / RatioDescription
DIVIDEND2026-10-30N/A₹3.50Interim Dividend - Rs 3.50 Per Share
DIVIDEND2026-09-152026-09-15₹2.00Final Dividend - Rs. - 2.0000
DIVIDEND2026-09-152026-09-15₹7.00Final Dividend - Rs. - 7.0000
DIVIDEND2026-09-152026-09-15₹0.50Final Dividend - Rs. - 0.5000
DIVIDEND2026-09-152026-09-15₹5.00Final Dividend - Rs. - 5.0000
DIVIDEND2026-09-152026-09-15₹0.55Final Dividend - Rs. - 0.5500
DIVIDEND2026-09-152026-09-15₹25.00Final Dividend - Rs. - 25.0000
DIVIDEND2026-09-152026-09-15₹3.00Final Dividend - Rs. - 3.0000
CORPORATE_ACTION2026-09-152026-09-15N/ARight Issue of Equity Shares
DIVIDEND2026-09-152026-09-15₹1.00Final Dividend - Rs. - 1.0000
DIVIDEND2026-09-152026-09-15₹0.30Final Dividend - Rs. - 0.3000
DIVIDEND2026-08-14N/A₹1.55Dividend - Rs 1.55 Per Share
DIVIDEND2026-07-31N/A₹4.25Interim Dividend - Rs 4.25 Per Share
DIVIDEND2026-03-20N/A₹3.20Interim Dividend - Rs 3.20 Per Share
DIVIDEND2026-02-06N/A₹4.60Interim Dividend - Rs 4.60 Per Share
REGULATORY FILINGS & EXCHANGE DISCLOSURES
Change in Management 31 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
Change in Management

General Updates 30 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
General Updates

Analysts/Institutional Investor Meet/Con. Call Updates 29 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
Analysts/Institutional Investor Meet/Con. Call Updates

Copy of Newspaper Publication 27 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
Copy of Newspaper Publication

Outcome of Board Meeting 26 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
Outcome of Board Meeting

Record Date 26 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
Record Date

Analysts/Institutional Investor Meet/Con. Call Updates 26 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
Analysts/Institutional Investor Meet/Con. Call Updates

General Updates 23 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
General Updates

UNIFIED CORPORATE CHRONOLOGICAL TIMELINE
2026-10-31 Change in Management • NSE_OFFICIAL_API
Change in Management

2026-10-30 DIVIDEND • NSE_OFFICIAL_API
Dividend: ₹3.50 per share

Interim Dividend - Rs 3.50 Per Share

2026-10-30 General Updates • NSE_OFFICIAL_API
General Updates

2026-10-29 Analysts/Institutional Investor Meet/Con. Call Updates • NSE_OFFICIAL_API
Analysts/Institutional Investor Meet/Con. Call Updates

2026-10-27 Copy of Newspaper Publication • NSE_OFFICIAL_API
Copy of Newspaper Publication

2026-10-26 Analysts/Institutional Investor Meet/Con. Call Updates • NSE_OFFICIAL_API
Analysts/Institutional Investor Meet/Con. Call Updates

2026-10-26 Outcome of Board Meeting • NSE_OFFICIAL_API
Outcome of Board Meeting

2026-10-26 Record Date • NSE_OFFICIAL_API
Record Date

2026-10-23 General Updates • NSE_OFFICIAL_API
General Updates

2026-10-19 Scheme of Arrangement • NSE_OFFICIAL_API
Scheme of Arrangement

2026-10-16 General Updates • NSE_OFFICIAL_API
General Updates

2026-10-15 General Updates • NSE_OFFICIAL_API
General Updates

STATUTORY SOURCE PROVENANCE & VERIFICATION AUDIT TRAIL
BSE Official Filings (532955) ↗ NSE Official Quote (RECLTD) ↗

Every financial metric, balance-sheet balance, and shareholding breakdown displayed on this dossier is grounded in primary statutory filings submitted to Indian stock exchanges (SEBI LODR Regulations 31, 33, and 47). No data is manufactured, estimated, or interpolated.

Data Domain Reporting Period Statutory Source Ingestion Date Status Provenance Hash
financials_quarterly Q2 FY27 NSE_OFFICIAL_API 03 Nov 2026, 19:32 VERIFIED 94b393082472...
financials_quarterly Q2 FY27 NSE_OFFICIAL_API 03 Nov 2026, 00:54 VERIFIED 94b393082472...
financials_quarterly Q2 FY27 NSE_OFFICIAL_API 02 Nov 2026, 05:50 VERIFIED 94b393082472...
financials_quarterly Q2 FY27 NSE_OFFICIAL_API 01 Nov 2026, 11:18 VERIFIED 94b393082472...
financials_quarterly Q2 FY27 NSE_OFFICIAL_API 31 Oct 2026, 16:42 VERIFIED 94b393082472...
financials_quarterly Q2 FY27 NSE_OFFICIAL_API 30 Oct 2026, 21:18 VERIFIED af9b94cde531...
financials_quarterly Q2 FY27 NSE_OFFICIAL_API 30 Oct 2026, 01:22 VERIFIED 9573e02cbfed...
financials_quarterly Q2 FY27 NSE_OFFICIAL_API 29 Oct 2026, 06:45 VERIFIED c2eaa3a9b086...

DATA SOURCES, STATUTORY DISCLOSURES & METHODOLOGY

All corporate identifiers, listed equity data, shareholding patterns, and financial statements are extracted from official regulatory authorities: National Stock Exchange of India (NSE), BSE Limited, and Ministry of Corporate Affairs (MCA) via audited XBRL Ind-AS submissions under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Regulations 31, 33, and 47). Data is ingested and archived on official end-of-day (EOD) schedules with immutable provenance tracking.

Zero-Fabrication Policy: SRK Money Talk strictly enforces authentic data integrity. No financial values, debt levels, cash flows, or quarterly earnings are ever mathematically synthesized, interpolated, or fabricated. When statutory disclosures have not yet been filed or ingested, fields are strictly labeled as N/A or NOT_YET_AVAILABLE.

Statutory Disclaimer: The SRK Fundamental Health Score is a quantitative diagnostic algorithm based exclusively on historical audited filings and does not constitute an investment recommendation or financial advisory. Always consult a SEBI-registered investment adviser before making capital allocation decisions.