Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of REC Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue + | 10,243 | 11,104 | 11,688 | 12,052 | 12,677 | 13,079 | 13,682 | 14,272 | 15,334 | 14,737 | 15,153 | 15,051 | 14,564 |
| Interest | 6,496 | 7,049 | 7,350 | 7,654 | 7,896 | 8,020 | 8,506 | 8,837 | 8,768 | 8,934 | 9,131 | 9,243 | 8,931 |
| Expenses + | -149 | 332 | -492 | 240 | -425 | 717 | 97 | 263 | 1,084 | 217 | 476 | 655 | 1,231 |
| Financing Profit | 3,896 | 3,723 | 4,831 | 4,158 | 5,206 | 4,341 | 5,079 | 5,172 | 5,482 | 5,587 | 5,546 | 5,154 | 4,402 |
| Financing Margin % | 38% | 34% | 41% | 34% | 41% | 33% | 37% | 36% | 36% | 38% | 37% | 34% | 30% |
| Other Income + | 12 | 4 | 13 | 20 | 29 | 14 | 24 | 15 | 15 | 87 | 10 | -11 | 20 |
| Depreciation | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 |
| Profit before tax | 3,901 | 3,721 | 4,838 | 4,172 | 5,229 | 4,349 | 5,097 | 5,181 | 5,490 | 5,666 | 5,549 | 5,136 | 4,415 |
| Tax % | 21% | 20% | 22% | 21% | 22% | 20% | 21% | 21% | 21% | 21% | 20% | 21% | 24% |
| Net Profit + | 3,065 | 2,968 | 3,790 | 3,308 | 4,079 | 3,460 | 4,038 | 4,076 | 4,310 | 4,466 | 4,415 | 4,052 | 3,375 |
| EPS in Rs | 11.64 | 11.27 | 14.39 | 12.56 | 15.49 | 13.14 | 15.33 | 15.48 | 16.37 | 16.96 | 16.77 | 15.39 | 12.82 |
| Gross NPA % | |||||||||||||
| Net NPA % |
Financials of REC Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue + | 20,544 | 24,125 | 24,338 | 22,658 | 25,408 | 29,942 | 35,556 | 39,276 | 39,486 | 47,517 | 56,369 | 59,584 |
| Interest | 11,840 | 14,282 | 13,462 | 13,333 | 15,639 | 18,991 | 21,489 | 22,051 | 23,733 | 29,948 | 34,131 | 36,238 |
| Expenses + | 1,149 | 1,680 | 1,888 | 3,379 | 1,702 | 3,981 | 3,292 | 4,838 | 1,858 | -366 | 2,153 | 2,579 |
| Financing Profit | 7,555 | 8,162 | 8,988 | 5,946 | 8,066 | 6,969 | 10,776 | 12,387 | 13,894 | 17,936 | 20,084 | 20,767 |
| Financing Margin % | 37% | 34% | 37% | 26% | 32% | 23% | 30% | 32% | 35% | 38% | 36% | 35% |
| Other Income + | 6 | 4 | 24 | 18 | 33 | 72 | 15 | 62 | 28 | 48 | 58 | 26 |
| Depreciation | 8 | 20 | 40 | 7 | 8 | 12 | 11 | 18 | 24 | 24 | 25 | 27 |
| Profit before tax | 7,552 | 8,147 | 8,972 | 5,958 | 8,090 | 7,030 | 10,780 | 12,431 | 13,898 | 17,960 | 20,117 | 20,766 |
| Tax % | 29% | 30% | 30% | 25% | 29% | 29% | 22% | 19% | 20% | 21% | 21% | 21% |
| Net Profit + | 5,344 | 5,691 | 6,313 | 4,451 | 5,741 | 4,972 | 8,378 | 10,036 | 11,167 | 14,145 | 15,884 | 16,308 |
| EPS in Rs | 20.30 | 21.61 | 23.98 | 16.90 | 21.80 | 18.88 | 31.82 | 38.11 | 42.41 | 53.72 | 60.32 | 61.93 |
| Dividend Payout % | 20% | 30% | 30% | 41% | 38% | 44% | 30% | 30% | 30% | 30% | 30% | 30% |
Financials of REC Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 987 | 987 | 1,975 | 1,975 | 1,975 | 1,975 | 1,975 | 1,975 | 2,633 | 2,633 | 2,633 | 2,633 |
| Reserves | 24,085 | 27,906 | 31,696 | 30,613 | 32,571 | 33,422 | 41,789 | 49,339 | 55,487 | 66,717 | 75,743 | 82,421 |
| Borrowing | 150,979 | 169,212 | 167,852 | 204,367 | 244,249 | 286,289 | 329,723 | 333,043 | 380,790 | 445,568 | 496,243 | 514,725 |
| Other Liabilities + | 7,404 | 8,840 | 8,723 | 5,416 | 19,659 | 25,345 | 27,380 | 26,503 | 26,592 | 33,273 | 39,883 | 40,378 |
| Total Liabilities | 183,456 | 206,945 | 210,245 | 242,370 | 298,454 | 347,030 | 400,867 | 410,860 | 465,503 | 548,191 | 614,502 | 640,158 |
| Fixed Assets + | 110 | 254 | 355 | 132 | 165 | 166 | 267 | 628 | 641 | 632 | 629 | 616 |
| CWIP | 10 | 78 | 166 | 129 | 199 | 288 | 336 | 6 | 3 | 24 | 76 | 128 |
| Investments | 1,596 | 2,352 | 2,617 | 2,948 | 2,463 | 2,386 | 1,981 | 2,190 | 3,170 | 5,352 | 6,674 | 9,831 |
| Other Assets + | 181,740 | 204,261 | 207,108 | 239,162 | 295,627 | 344,190 | 398,282 | 408,035 | 461,689 | 542,184 | 607,123 | 629,583 |
| Total Assets | 183,456 | 206,945 | 210,245 | 242,370 | 298,454 | 347,030 | 400,867 | 410,860 | 465,503 | 548,191 | 614,502 | 640,158 |
Financials of REC Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -23,898 | -13,278 | 6,805 | -32,510 | -35,866 | -32,712 | -43,512 | -819 | -37,360 | -57,723 | -39,064 | 5,972 |
| Cash from Investing Activity + | 151 | -756 | -101 | 46 | 457 | 121 | 861 | -287 | -943 | -1,831 | -1,302 | -3,308 |
| Cash from Financing Activity + | 23,098 | 15,291 | -3,947 | 28,244 | 35,543 | 33,926 | 42,113 | 68 | 38,123 | 59,588 | 40,034 | -2,375 |
| Net Cash Flow | -649 | 1,257 | 2,757 | -4,220 | 134 | 1,336 | -538 | -1,038 | -180 | 34 | -333 | 289 |
| Free Cash Flow | -23,943 | -13,537 | 6,601 | -32,584 | -35,957 | -32,812 | -43,586 | -867 | -37,377 | -57,756 | -39,147 | 5,896 |
| CFO/OP | -111% | -48% | 42% | -157% | -143% | -119% | -126% | 7% | -92% | -114% | -64% | 17% |
Financials of REC Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 23% | 21% | 20% | 13% | 17% | 14% | 21% | 21% | 20% | 22% | 22% | 20% |