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India
Reported ownership for FY2027-Q1 as of 2026-06-30.
As of 06 Nov 2026, 03:30 pm
For H1 FY'27 (ending September 30, 2026), REC reported a net profit of ₹7,541 crores and a loan book of ₹6.17 lakh crores, up 6% year-on-year. Management declared total dividends of ₹7.75 for the current year, including ₹3.5 in Q2. The company guided for 10%–12% loan-book growth in FY'27.
REC will be absorbed into Power Finance Corporation (PFC). The draft scheme has received Board resolutions and No Objection Certificates from the RBI and stock exchanges. However, the merger remains pending final approval from the Cabinet.
As of November 6, 2026, REC shares closed at ₹296.65. The stock has declined 18.2% over the past year and 19.3% year-to-date. Technical indicators show a bearish trend on daily, weekly, and monthly timeframes, with the stock currently trading near support levels around ₹294.
Yes. Shri J.K. Nayak ceased to be Executive Director on October 30, 2026, following his appointment as Chairman & Managing Director of Indian Renewable Energy Development Agency Limited.
As of 06 Nov 2026, 03:30 pm
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Latest complete financial results for Q2 FY27 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Interest Earned | ₹14,590 crore | ₹14,200 crore | PEAK₹14,669 crore |
| Expenses | ₹9,613 crore | ₹9,201 crore | PEAK₹10,619 crore |
| Finance Costs | ₹9,131 crore | ₹8,748 crore | PEAK₹9,522 crore |
| Impairment On Financial Instruments | ₹140 crore | -₹967 crore | PEAK₹352 crore |
| Profit Before Exceptional Items And Tax | PEAK₹5,549 crore | ₹5,268 crore | ₹4,391 crore |
| Tax Expense | PEAK₹1,134 crore | ₹1,076 crore | ₹913 crore |
| Profit Loss For Period | PEAK₹4,415 crore | ₹4,193 crore | ₹3,478 crore |
REC Limited’s consolidated revenue from operations increased 3.9% quarter-on-quarter to ₹15,000 crore in FY2026-27 Q2, while profit for the period declined 17.1% to ₹3,478 crore. Higher expenses and a swing from an impairment reversal in Q1 to an impairment charge in Q2 weighed on the sequential result; year-on-year, revenue was down 1.0% and profit was down 21.2%.
Total expenses rose 15.4% quarter-on-quarter to ₹10,619 crore from ₹9,201 crore. Finance costs increased 8.9% to ₹9,522 crore. Employee benefit expense was ₹76.5 crore in Q2.
Impairment on financial instruments was a charge of ₹352 crore, compared with a net reversal of ₹967 crore in Q1—a swing of about ₹1,319 crore. Profit before tax fell 16.6% sequentially to ₹4,391 crore from ₹5,268 crore, and was 20.9% lower than in FY2025-26 Q2.
Tax expense declined 15.1% quarter-on-quarter to ₹913 crore from ₹1,076 crore. Deferred tax was a credit of ₹113 crore, compared with a credit of ₹10 crore in Q1. Profit for the period fell 17.1% to ₹3,478 crore from ₹4,193 crore, and was 21.2% below the year-ago quarter.
Basic and diluted earnings per share from continuing operations were ₹13.21, down from ₹15.92 in Q1 and ₹16.77 in FY2025-26 Q2.
Comprehensive income was ₹4,037 crore, down 45.7% from ₹7,440 crore in Q1. Other comprehensive income declined to ₹559 crore from ₹3,247 crore in the prior quarter.
REC’s loan book and sequential revenue grew, but higher expenses and the reversal of the prior quarter’s impairment benefit coincided with a substantial decline in profit. Revenue and profit were also lower year-on-year, while interest income edged up—leaving earnings performance weaker than the modest top-line improvement.
Exchange disclosures and regulatory announcements for REC.
REC Limited reported that it made the interest payment and full maturity redemption for NCD Series 140 for FY 2026–27. The filing lists ISIN INE020B08AA3, issue size of ₹2,100 crore, interest paid of ₹1,47,53,62,186, and redemption of 21,000 NCDs for ₹2,100 crore. It does not state the due dates or actual payment/redemption dates.
REC Limited’s Q2 and H1 FY’27 earnings call transcript, held October 29, 2026, reports a loan book of INR6.17 lakh crores at September 30, 2026, up 6% year on year, and net profit of INR7,541 crores for H1. Management cited net credit-impaired assets of 0.11%, declared total dividends of INR7.75 for the current year (including INR3.5 for Q2), and guided to 10%–12% loan-book growth for FY’27. On the proposed merger, management said REC will be absorbed into PFC; the draft scheme is pending Cabinet approval, following Board resolutions and NOCs from RBI and the stock exchanges. The filing itself is a routine transcript-intimation notice, but the attached transcript contains substantive operating, financial and merger-related updates.
Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
REC Limited reported that Shri J.K. Nayak ceased to be its Executive Director on October 30, 2026 (A/N), following his appointment as Chairman & Managing Director of Indian Renewable Energy Development Agency Limited.
REC Limited (NSE: RECLTD) filed a generic announcement with the National Stock Exchange on October 31, 2026, reporting the cessation of Mr. Jatin Kumar Nayak from his position as Executive Director. The filing indicates that Mr. Nayak was relieved of his duties effective October 30, 2026.
REC Limited intimated the incorporation of Zanskar Renewable Energy Limited on October 29, 2026, as a Wholly Owned Subsidiary of REC Power Development and Consultancy Limited (RECPDCL). The entity was formed to facilitate the development of a 140 MWp Solar + 400 MWh BESS Plant at Karsha Village, UT of Ladakh, following an allocation by the Power Development and New & Renewable Energy Department, UT-Ladakh. RECPDCL acts as the Bid Process Coordinator (BPC) for this project under Tariff Based Competitive Bidding (TBCB) guidelines. Upon selection of a successful bidder, Zanskar Renewable Energy Limited will be transferred along with all assets and liabilities.
Recent market and company developments associated with REC.
Livemint highlights Coal India, TCS, HUDCO, HCL Tech, and GAIL among the top ten dividend-paying stocks based on their annual yields. The report details specific payout figures and yield percentages for these entities, including Coal India's 6.72% yield and ONGC's 5.76%, to illustrate immediate cash returns relative to share prices.
A sharp rally in government bonds, driven by falling crude oil prices and improving global risk sentiment, has lowered benchmark yields and prompted corporates and government-backed institutions to accelerate debt issuances to lock in reduced borrowing costs. Issuers such as Nabard and SIDBI are capitalizing on this favorable backdrop, with market participants expecting strong investor demand and a steady pipeline of bond offerings as alternative funding avenues remain expensive.
Following the RBI's October 7th repo rate hike to 5.50 per cent and a shift to a 'calibrated tightening' stance, highly rated large companies including SIDBI, NABARD, L&T Finance, Sundaram Finance, REC Ltd, Aditya Birla Housing Finance, and Bajaj Finance have stepped up domestic rupee bond issuances. These entities raised significant capital via non-convertible debentures with coupons ranging from 8.05 per cent to 8.70 per cent, while NABARD is also reportedly planning an additional ₹6,000 crore mobilization.
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REC Ltd reported a 21% year-on-year fall in September-quarter net profit to Rs 3,477.73 crore, while revenue from operations slipped to Rs 15,000.40 crore. Its board approved a second interim dividend of Rs 3.50 per share. The loan book grew 5% sequentially to Rs 6.17 lakh crore.
REC reported a 21.2% year-on-year decline in Q2 FY27 net profit to ₹3,478 crore, while net interest income fell 9% to ₹5,478 crore. The company also announced interim dividend.
Comprehensive Section Breakdown for REC
Strategic Vision: Public infrastructure finance company supporting power and infrastructure sectors.
• Registered as an Infrastructure Finance Company (IFC) under the Reserve Bank of India.
Interest earned rose 3.3% quarter-on-quarter to ₹14,669 crore from ₹14,200 crore in FY2026-27 Q1, and was up 0.5% from ₹14,590 crore in FY2025-26 Q2. Total income increased 3.7% sequentially to ₹15,010 crore from ₹14,469 crore. Other income declined to ₹10 crore from ₹35 crore in Q1; dividend income was ₹28 lakh.
The loan book stood at ₹6,12,678 crore on 30 September 2026, compared with ₹5,79,243 crore on 31 March 2026 and ₹5,74,780 crore on 30 September 2025. The larger closing loan balance coincided with year-on-year growth in interest earned, although that income rose only 0.5%.
Equity attributable to owners of the parent stood at ₹95,219 crore on 30 September 2026, compared with ₹85,054 crore on 31 March 2026 and ₹83,481 crore on 30 September 2025. Debt securities increased to ₹3,25,562 crore from ₹3,09,983 crore at the end of March, while borrowings rose to ₹2,01,541 crore from ₹1,95,316 crore.
Bank balances other than cash and cash equivalents were ₹1,894 crore, up from ₹1,318 crore at 31 March 2026; cash and cash equivalents were ₹459 crore. Net deferred tax assets stood at ₹2,383 crore, down from ₹3,540 crore at the end of March.
Category: Financial Services
Provides debt funding for thermal, hydro, nuclear, and renewable energy power generation plants.
Category: Financial Services
Finances grid infrastructure, substations, and transmission networks.
Category: Financial Services
Provides financing for roads, highways, metro rails, airports, ports, and healthcare infrastructure.
Category: Financial Services
Offers loans for working capital and operational requirements of utilities.
Category: B2B Services
Acts as the nodal agency for government electrification and power sector reform programs.
Key Products & Services: Revamped Distribution Sector Scheme (RDSS) • Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya)
Core Thesis: Leverages capital markets to fund diverse power and infrastructure projects while acting as a nodal agency for government schemes.
• Debt Funding: Provides debt funding and loan products across generation, transmission, distribution, and broader infrastructure projects. • Capital Raising: Raises capital through domestic and international debt markets to support lending operations. • Government Program Execution: Serves as a nodal agency for key government electrification and power sector reform initiatives.