REC quarterly results and financials

REC (RECLTD)₹305.15+2.66%(9 Nov 2026 close)Financial Institution

Key facts

In the Sep 2026 quarter (consolidated), REC reported revenue of ₹14,995 Cr, down 1.0% from Sep 2025, and net profit of ₹3,479 Cr, down 21.2% year on year. For the year to Mar 2026, revenue were ₹59,491 Cr and net profit ₹16,296 Cr.

Revenue (Sep 2026): ₹14,995 Cr
Net profit (Sep 2026): ₹3,479 Cr
Revenue (FY Mar 2026): ₹59,491 Cr
Net profit (FY Mar 2026): ₹16,296 Cr
EPS (Sep 2026): ₹13.22
Borrowings (Mar 2026): ₹5.15 L Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

REC quarterly results

₹ crore unless stated; each column is a quarter.

REC Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	12,033	12,667	13,061	13,671	14,256	15,330	14,732	15,143	15,040	14,541	14,430	14,995
Interest	7,675	7,919	8,045	8,534	8,860	8,786	8,957	9,150	9,269	8,950	8,767	9,541
Net interest income	4,358	4,748	5,016	5,137	5,397	6,544	5,775	5,993	5,771	5,591	5,663	5,454
Expenses	240	−424	715	96.85	262	1,083	217	475	654	1,229	446	1,089
Financing Profit	4,158	5,201	4,336	5,074	5,172	5,478	5,582	5,546	5,153	4,399	5,241	4,386
Financing Margin %	34.1%	41.1%	33.1%	37.1%	36.0%	36.1%	38.1%	37.1%	34.1%	30.1%	36.1%	29.0%
Other Income	19.95	28.95	13.98	23.94	14.98	14.97	86.76	9.97	−10.97	19.95	34.90	9.98
Depreciation	6.02	6.01	6.02	6.02	6.02	6.02	7.02	7.02	7.02	7.02	7.02	7.02
Profit before tax	4,179	5,242	4,357	5,105	5,190	5,497	5,682	5,561	5,149	4,424	5,276	4,398
Tax %	21.0%	22.0%	20.0%	21.0%	21.0%	21.0%	21.0%	20.0%	21.0%	24.0%	20.0%	21.0%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−13.97	0.00	0.00	0.00
Net Profit	3,309	4,080	3,458	4,039	4,079	4,307	4,463	4,414	4,050	3,372	4,191	3,479
EPS (Rs)	12.58	15.51	13.13	15.34	15.49	16.39	16.97	16.79	15.41	12.83	15.91	13.22

REC profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

REC Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue	24,122	24,298	22,623	25,372	29,929	35,502	39,257	39,480	47,479	56,356	59,491	59,006
Interest	14,316	13,506	13,372	15,681	19,036	21,548	22,099	23,793	30,035	34,203	36,315	36,527
Net interest income	9,806	10,792	9,250	9,691	10,893	13,954	17,158	15,687	17,444	22,153	23,176	22,479
Expenses	1,676	1,884	3,374	1,699	3,972	3,287	4,825	1,855	−365	2,150	2,565	3,419
Financing Profit	8,159	8,989	5,942	8,065	6,966	10,772	12,374	13,883	17,919	20,068	20,766	19,179
Financing Margin %	34.1%	37.1%	26.1%	32.1%	23.1%	30.1%	32.1%	35.0%	38.1%	36.1%	35.1%	32.5%
Other Income	3.99	23.96	17.96	32.95	71.82	14.98	61.83	27.92	47.92	57.90	12.96	53.86
Depreciation	20.07	40.12	7.02	8.03	12.03	11.03	18.07	24.07	24.06	25.08	27.07	28.08
Profit before tax	8,161	8,990	5,971	8,113	7,044	10,801	12,461	13,931	18,004	20,143	20,808	19,246
Tax %	30.0%	30.0%	25.0%	29.0%	29.0%	22.0%	19.0%	20.0%	21.0%	21.0%	21.0%	—
Exceptional items	−0.99	0.99	0.00	−0.99	−0.99	−2.99	21.96	−1.99	−2.99	−5.98	−22.95	−13.97
Net Profit	5,693	6,309	4,449	5,737	4,971	8,381	10,031	11,160	14,149	15,873	16,296	15,093
EPS (Rs)	21.64	24.00	16.92	21.81	18.89	31.83	38.14	42.46	53.79	60.40	61.95	57.37
Dividend payout %	30.1%	30.0%	41.1%	38.1%	44.1%	30.1%	30.1%	30.1%	30.1%	30.1%	30.1%	—

REC balance sheet

₹ crore, at each year end.

REC Balance sheet
	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	985	986	1,971	1,973	1,973	1,971	1,971	1,972	2,630	2,630	2,629	2,629
Reserves	24,002	27,834	31,583	30,536	32,475	33,304	41,668	49,161	55,317	66,530	74,923	81,590
Borrowings	1,50,613	1,69,013	1,67,520	2,04,121	2,43,947	2,85,699	3,29,282	3,32,502	3,80,263	4,45,100	4,95,918	5,14,585
Other Liabilities	7,368	8,798	8,681	5,390	19,565	25,223	27,249	26,376	26,464	33,113	39,692	40,184
Total Liabilities	1,82,969	2,06,630	2,09,755	2,42,019	2,97,960	3,46,195	4,00,169	4,10,011	4,64,675	5,47,373	6,13,163	6,38,987
Fixed Assets	110	255	356	132	166	167	268	630	643	634	631	619
CWIP	10.01	78.11	166	129	199	288	336	6.01	3.01	24.03	76.05	128
Investments	1,591	2,344	2,609	2,939	2,456	2,380	1,977	2,185	3,159	5,338	6,650	9,808
Other Assets	1,81,258	2,03,953	2,06,624	2,38,820	2,95,140	3,43,360	3,97,587	4,07,189	4,60,870	5,41,378	6,05,806	6,28,432
Inventories	0.00	67.02	51.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Trade receivables	120	232	438	134	138	111	140	95.03	113	154	235	293
Cash & equivalents	645	1,859	4,643	2,189	2,110	3,963	3,396	2,653	2,391	2,955	2,337	1,606
Total Assets	1,82,969	2,06,630	2,09,755	2,42,019	2,97,960	3,46,195	4,00,169	4,10,011	4,64,675	5,47,373	6,13,163	6,38,987

REC cash flow

₹ crore, for each year.

REC Cash flow
	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	−23,902	−13,295	6,812	−32,556	−35,897	−32,745	−43,581	−3,913	−37,395	−57,746	−39,125	5,977
Cash from investing activity	151	−754	−101	45.85	456	121	858	−286	−939	−1,825	−1,299	−3,300
Cash from financing activity	23,133	15,327	−3,955	28,318	35,604	34,016	42,186	3,168	38,215	59,738	40,116	−2,382
Net cash flow	−648	1,254	2,749	−4,214	134	1,334	−537	−1,035	−180	33.93	−332	289
Capex	—	—	203	75.04	91.05	100	74.12	48.03	18.03	34.03	6.01	24.02
Free cash flow	−24,001	−13,560	6,610	−32,664	−36,018	−32,892	−43,641	−3,963	−37,464	−57,826	−39,162	5,963

REC ratios

Working-capital days and returns, by year.

REC 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 %	23.0%	21.0%	19.9%	12.9%	17.0%	14.0%	21.0%	21.0%	20.0%	21.9%	21.9%	20.0%

REC: frequently asked questions

What are the latest quarterly results of REC?

For the Sep 2026 quarter, REC reported revenue of ₹14,995 Cr, down 1.0% year on year and net profit of ₹3,479 Cr, down 21.2% year on year.

What is the annual revenue of REC?

REC's revenue for the year to Mar 2026 were ₹59,491 Cr; over the last twelve months they were ₹59,006 Cr.

What is the net profit of REC?

Net profit for the year to Mar 2026 was ₹16,296 Cr, and ₹15,093 Cr over the last twelve months. Earnings per share over the same trailing period were ₹57.37.

What is the free cash flow of REC?

Cash from operations was ₹5,977 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹5,963 Cr.

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