āagman

Not investment advice. Data and computed figures, for information only.

REC Ltd

NSE: RECLTDF&O
₹309.75
−₹2.05 (−0.66%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹78,997 Cr
CMP
₹309.75
52-wk High / Low
₹388 / 286
P/E
4.9
P/B
0.9
Book Value
₹321.0
Div Yield
6.18%
ROCE
9.7%
ROE
20.0%
Face Value
₹10
D/E
6.10

Price−16.9% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹669
√(22.5 × EPS × book value per share)
Cash flow to profit
0.37
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Sustainable growth
13.9%
ROE × earnings retention ratio
ROE stability
0.5
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.03DII +0.62
Latest quarter vs the previous one
Cash-accrual divergence
1.6%
of assets
Low = accruals track cash flow
Strengths
+PE of 4.9x is below the sector median of 20.4x
Watch-outs
−Borrowings are up 204.5% since FY2016 (169212 to 515284)
−Price trades below its 200-day moving average (0.9x)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales11,10411,68812,05212,67713,07913,68214,27215,33414,73715,15315,05114,56414,435
Expenses332−492240−425717972631,0842174766551,231447
Operating Profit—————————————
OPM %—————————————
Other Income4132029142415158710−112035
Interest7,0497,3507,6547,8968,0208,5068,8378,7688,9349,1319,2438,9318,748
Depreciation6666666677777
Profit before tax3,7214,8384,1725,2294,3495,0975,1815,4905,6665,5495,1364,4155,268
Net Profit2,9683,7903,3084,0793,4604,0384,0764,3104,4664,4154,0523,3754,193
EPS (₹)11.2714.3912.5615.4913.1415.3315.4816.3716.9616.7715.3912.8215.92

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales20,54424,12524,33822,65825,40829,94235,55739,27639,48647,51756,36959,58659,202
Expenses1,1491,6801,8883,3791,7023,9813,2924,8381,858−3662,1532,5682,809
Operating Profit—————————————
OPM %—————————————
Other Income642418337215622848581353
Interest11,84014,28213,46213,33315,63918,99121,48922,05123,73329,94834,13136,23836,051
Depreciation82040781211182424252727
Profit before tax7,5528,1478,9725,9588,0907,03010,78012,43113,89817,96020,11720,76620,368
Net Profit5,3445,6916,3134,4515,7414,9728,37810,03611,16714,14515,88416,30816,035
EPS (₹)20.3021.6123.9816.9021.8018.8831.8238.1142.4153.7260.3261.9360.90

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital9879871,9751,9751,9751,9751,9751,9752,6332,6332,6332,633—
Reserves24,08527,90631,69630,61332,57133,42241,78949,33955,48766,71775,18481,863—
Other Liabilities7,4048,8408,7235,41619,65925,34527,38026,50326,59233,27339,88340,378—
Total Liabilities1,83,4562,06,9452,10,2452,42,3702,98,4543,47,0304,00,8674,10,8604,65,5035,48,1916,14,5026,40,158—
Fixed Assets110254355132165166267628641632629616—
CWIP1078166129199288336632476128—
Investments1,5962,3522,6172,9482,4632,3861,9812,1903,1705,3526,6749,831—
Other Assets1,81,7402,04,2612,07,1082,39,1622,95,6273,44,1903,98,2824,08,0354,61,6895,42,1846,07,1236,29,583—
Total Assets1,83,4562,06,9452,10,2452,42,3702,98,4543,47,0304,00,8674,10,8604,65,5035,48,1916,14,5026,40,158—
Borrowing1,50,9791,69,2121,67,8522,04,3672,44,2492,86,2893,29,7233,33,0433,80,7904,45,5684,96,8015,15,284—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity−23,898−13,2786,805−32,510−35,866−32,712−43,512−3,910−37,360−57,723−39,0645,972
Cash from Investing Activity151−756−10146457121861−287−943−1,831−1,302−3,308
Cash from Financing Activity23,09815,291−3,94728,24435,54333,92642,1133,15938,12359,58840,034−2,375
Net Cash Flow−6491,2572,757−4,2201341,336−538−1,038−18034−333289

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %———————————9.7
ROE %23.021.020.013.017.014.021.021.020.022.022.020.0
EPS (₹)20.3021.6123.9816.9021.8018.8831.8238.1142.4153.7260.3261.93
Book Value (₹)———————————321.0
Face Value (₹)———————————10
P/E———————————4.9
Div Yield %———————————6.18
NPM %26.023.625.919.622.616.623.625.528.329.728.127.4
OPM %————————————
D/E6.025.864.996.277.078.097.536.496.556.426.386.10
P/B———————————0.9

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+9.0%
5 years+11.0%
3 years+15.0%
TTM+2.0%
Compounded profit growth
10 years+11.0%
5 years+14.0%
3 years+14.0%
TTM−5.0%
Stock price CAGR
10 years+12.0%
5 years+20.0%
3 years+1.0%
Last year−20.0%
Return on equity
10 years20.0%
5 years21.0%
3 years21.0%
Last year20.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters58.86%58.86%58.32%52.63%52.63%52.63%52.63%52.63%52.63%52.63%52.63%52.63%
FIIs21.34%21.34%23.19%25.30%26.99%26.75%24.27%21.52%19.91%20.48%15.79%15.76%
DIIs10.90%10.90%8.65%13.89%12.01%12.28%9.43%11.87%15.44%14.79%16.36%16.98%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.04%0.05%0.05%0.05%0.05%
Public8.90%8.90%9.84%8.17%8.36%8.33%13.66%13.93%11.96%12.05%15.17%14.57%
No. of shareholders2,80,9232,80,9233,26,4283,04,1693,00,4583,32,8244,23,5185,76,7597,70,80810,82,79812,08,64711,75,194
Change since Jun 2023 (pp)
Promoters −6.23FIIs −5.58DIIs +6.08Public +5.67

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Intimation Of Incorporation Of Subsidiary Companies.Closure of Trading WindowBoard Comments On Fine Levied By The Exchanges.Intimation Of Sale And Transfer Of Project Specific SPV/Subsidiary.
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026PPTApr 2026PPTJan 2026PPTNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 14 Aug 2026
14 Aug 2026DIVIDENDDividend - Rs 1.55 Per Share—
31 Jul 2026DIVIDENDInterim Dividend - Rs 4.25 Per Share—
20 Mar 2026DIVIDENDInterim Dividend - Rs 3.20 Per Share—
6 Feb 2026DIVIDENDInterim Dividend - Rs 4.60 Per Share—
27 Oct 2025DIVIDENDInterim Dividend - Rs 4.60 Per Share—
14 Aug 2025DIVIDENDDividend - Rs 2.60 Per Share—
1 Aug 2025DIVIDENDInterim Dividend - Rs 4.60 Per Share—
26 Mar 2025DIVIDENDInterim Dividend - Rs 3.60 Per Share—
14 Feb 2025DIVIDENDInterim Dividend - Rs 4.30 Per Share—
8 Nov 2024DIVIDENDInterim Dividend - Rs 4 Per Share—
9 Aug 2024DIVIDENDInterim Dividend - Rs 3.50 Per Share—
28 Jun 2024DIVIDENDDividend - Rs 5 Per Share—
28 Mar 2024DIVIDENDInterim Dividend - Rs 4.50 Per Share—
13 Nov 2023DIVIDENDInterim Dividend - Rs 3.50 Per Share—
14 Aug 2023DIVIDENDInterim Dividend - Rs 3 Per Share—
14 Jul 2023DIVIDENDDividend - Rs 4.35 Per Share—
9 Feb 2023DIVIDENDInterim Dividend - Rs 3.25 Per Share—
7 Nov 2022DIVIDENDInterim Dividend - Rs 5 Per Share—
17 Aug 2022BONUSBonus 1:3—
12 Jul 2022DIVIDENDDividend - Rs 4.80 Per Share—
15 Feb 2022DIVIDENDInterim Dividend - Rs 6 Per Share—
11 Nov 2021DIVIDEND Interim Dividend - Rs 2.50 Per Share—
16 Sep 2021DIVIDEND Dividend - Rs 1.71 Per Share—
13 Aug 2021DIVIDEND Interim Dividend - Rs 2 Per Share—
18 Mar 2021DIVIDEND Interim Dividend - Rs 5 Per Share—
13 Nov 2020DIVIDEND Interim Dividend - Rs 6 Per Share—
11 Feb 2020DIVIDEND Interim Dividend - Rs 11 Per Share—
11 Mar 2019DIVIDEND Interim Dividend - Rs 11 Per Share—
17 Sep 2018DIVIDEND Dividend Rs 1.75 Per Share—
15 Feb 2018DIVIDEND Interim Dividend Rs 7.40 Per Share—
14 Sep 2017DIVIDEND Annual General Meeting/Dividend - Rs 2.65 Per Share—
27 Feb 2017DIVIDEND Interim Dividend Rs 7/- Per Share—
28 Sep 2016BONUS Bonus 1:1—
22 Aug 2016DIVIDEND Annual General Meeting/Dividend-Rs 5.10/- Per Share—
17 Feb 2016DIVIDEND Interim Dividend - Rs 12/- Per Share (Purpose Revised)—
9 Sep 2015DIVIDEND Annual General Meeting/ Dividend - Rs 2.70/- Per Share—
18 Feb 2015DIVIDENDInterim Dividend - Rs 8.00/- Per Share (Purpose Revised)—
2 Sep 2014DIVIDENDAnnual General Meeting / Final Dividend - Rs 1.75/- Per Share—
20 Feb 2014DIVIDENDInterim Dividend - Rs 7.75/- Per Share (Purpose Revised)—
28 Aug 2013DIVIDENDAnnual General Meeting And Dividend Rs.1.50 Per Share—
8 Feb 2013DIVIDENDInterim Dividend Rs 6.75 Per Share (Purpose Revised)—
4 Sep 2012DIVIDENDAnnual General Meeting/Dividend Rs 2.50 Per Share—
30 Jan 2012DIVIDENDInterim Dividend Rs.5/- Per Share (Purpose Revised)—
30 Aug 2011DIVIDENDAnnual General Meeting And Dividend Rs.4/- Per Share—
11 Feb 2011DIVIDENDInterim Dividend-Rs.3.50 Per Share (Purpose Revised)—
24 Aug 2010DIVIDENDAnnual General Meeting And Dividend Rs.3.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman