REC Ltd

Q4 FY26Finance

REC Q4 FY26: Revenue ₹59,187 Cr, PAT ₹16,282 Cr

Q4 FY26 investor presentation: what the company reported on revenue, margins and projects.

Price₹308

Market cap₹82.2K Cr

P/E5.1

Updated24 Sept 2026

Read4 min read

Based on REC Ltd's Q4 FY26 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the presentation reports, not management guidance.

The short version

Revenue & Profits (Page 11): - Interest Income on Loan assets (12M FY26): ₹57,007 crore vs ₹54,321 crore (12M FY25) - Finance Costs (12M FY26): ₹36,257 crore vs ₹34,149 crore (12M FY25) - Net In The provided presentation does not explicitly report EBITDA or operating margin figures for the quarter or mention any margin outlook.

From REC Ltd's Q4 FY26 earnings-call transcript · updated 24 Sept 2026.

Revenue & Sales Performance

Revenue & Profits (Page 11):
Interest Income on Loan assets (12M FY26): ₹57,007 crore vs ₹54,321 crore (12M FY25)
Finance Costs (12M FY26): ₹36,257 crore vs ₹34,149 crore (12M FY25)
Net Interest Income: ₹20,750 crore (FY26) vs ₹20,172 crore (FY25)
Profit After Tax: ₹16,282 crore (FY26) vs ₹15,713 crore (FY25)
Financial Highlights (Page 10):
Total Income: ₹59,187 crore (FY26) vs ₹55,980 crore (FY25) indicating growth
Loan Book: ₹5.84 lakh crore (FY26) vs ₹5.67 lakh crore (FY25)
Disbursements Composition & Growth (Page 14):
Total Disbursements (12M FY26): ₹2,11,189 crore vs ₹1,91,185 crore (FY25)

2 more points management made on revenue & sales performance

Profitability & Margins

The provided presentation does not explicitly report EBITDA or operating margin figures for the quarter or mention any margin outlook. However, profit (PAT) figures are given: - Profit After Tax (PAT) for 12M FY26: ₹16,282 crore - PAT for 12M FY25: ₹15,713 crore - Year-on-year increase in PAT: ₹569 crore (approx. 3.62%) No specific quarterly EBITDA or operating margin figures are stated in the slides provided, nor is there an explicit outlook on margins. The key ratios section shows interest spread and net interest margin but does not reference EBITDA or operating margins:

2 more points management made on profitability & margins

See what REC Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

The presentation does not explicitly detail specific capital expenditure (capex), capacity expansion projects, or new plant/project amounts, status, or timelines. However, it provides the following relevant data: - Renewable Energy Loan Book grew >4x in 5 years to ₹75,347 crore as of 31.03.26, indicating strong financing growth in clean energy projects. - Total Renewable Energy Capacity sanctioned by REC is ~66 GW with an emission abating capability equivalent to 3.1 billion mature trees per year. - Outstanding loan assets include ₹75,347 crore (13%) in Renewable Energy, showing ongoing support for clean energy expansion.

2 more points management made on capital expenditure plans

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

Borrowing profile as of March 31, 2026:
Total Outstanding Borrowings: ₹5,05,777 crore, increased from ₹4,88,259 crore as on March 31, 2025.
Domestic borrowings increased from ₹3,22,220 crore to ₹3,59,388 crore.
Foreign currency borrowings decreased from ₹1,66,039 crore to ₹1,46,389 crore.
Nearly 99% of total foreign currency borrowings are hedged.
Composition of borrowings includes bonds (55%), term loans (15%), external commercial borrowings (27%), FCNR(B) loans (2%), and others (1%).
REC is noted as the largest issuer of 54EC bonds, indicating active debt fundraising through these instruments.

2 more points management made on fundraising & capital structure

See what REC Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The investor presentation for REC Limited does not explicitly report order book, order inflow, or pending orders in specific terms. However, related operational and financial data indicate: - Disbursements for FY26 totaled ₹2,11,189 crore (including RBPF), a 28% YoY growth excluding RBPF, with the highest ever annual disbursement (Page 14). - Outstanding loan assets as of March 31, 2026, were ₹5,83,659 crore (Page 15).

2 more points management made on order book & pipeline

What REC Ltd's management said in earlier quarters

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Frequently Asked Questions

What were REC Ltd Q4 FY26 results?

What is REC Ltd share price analysis?

REC Ltd currently shows a neutral. The stock trades at a P/E of 5.1 with a market cap of ₹82,157 Cr. Investors should review the full earnings analysis for detailed insights.

Is REC Ltd planning capital expenditure?

The presentation does not explicitly detail specific capital expenditure (capex), capacity expansion projects, or new plant/project amounts, status, or timelines.

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This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.