REC Ltd

REC Limited announced its financial results for the quarter ended June 30, 2026, reporting a 23% year-on-year increase in Net Profit to ₹4,149 crore. Net interest income grew by 5% to ₹5,212 crore. The company declared a first interim dividend of ₹4.25 per share for FY 2026-27. REC maintained a healthy Net Interest Margin (NIM) of 3.34% and achieved an annualized EPS of ₹63.04. Its loan book stood at ₹5.90 lakh crore, the largest for any CPSU-NBFC in India. The Net Worth grew by 15% YoY to ₹91,836 crore. The renewable energy portfolio expanded to ₹78,596 crore (13.32% of loan book), and the infrastructure and logistics portfolio reached ₹59,289 crore (over 10% of loan assets). Stage-3 loan assets were reduced to 0.11%, and Capital Adequacy Ratio (CRAR) stood at 23.06%. REC also received two awards: 'NBFC of the Year' and 'AI & GenAI Adoption Excellence Award'.

REC Ltd announced its Board Meeting held on July 24, 2026, where they approved unaudited financial results for the quarter ended June 30, 2026. The company also declared a 1st interim dividend of ₹4.25 per equity share for FY 2026-27, with a record date of July 31, 2026. Crucially, the record date for the final dividend for FY 2025-26 has been fixed as August 14, 2026, with a payment of ₹1.55 per equity share. The filing also noted the appointment of Smt. Poonam Chauhan as an Independent Director and Shri Mukul Agarwal as Internal Auditor. Shareholders are reminded to update bank details for electronic dividend payments and submit necessary documents for TDS if applicable.

REC Ltd announced its first interim dividend of ₹4.25 per equity share for the financial year 2026-27. The record date for determining shareholder eligibility for this dividend is July 31, 2026, with payment expected by August 23, 2026. The company's Board of Directors, in a meeting held on July 24, 2026, also approved the unaudited financial results for the quarter ended June 30, 2026. Additionally, the Board fixed August 14, 2026, as the record date for a final dividend of ₹1.55 per share for FY 2025-26. The company also informed about the appointment of Smt. Poonam Chauhan as an Independent Director and Shri Mukul Agarwal as Internal Auditor.

REC Limited announced its unaudited financial results for the quarter ended June 30, 2026, following a Board meeting on July 24, 2026. The company declared a first interim dividend of ₹4.25 per equity share for FY27, with a record date of July 31, 2026. Additionally, the record date for the final dividend for FY26 was set as August 14, 2026, with a dividend of ₹1.55 per share. The company also appointed Smt. Poonam Chauhan as an Independent Director and Shri Mukul Agarwal as Internal Auditor. Shareholders were reminded about TDS implications and the requirement to update bank details for electronic dividend payments.

REC Ltd reported a mild year-on-year decline in its June-2026 quarter. Consolidated net profit came in at ₹4,193 Cr, down ~6.1% from ₹4,466 Cr a year ago, on revenue from operations of ₹14,435 Cr that was ~2% lower YoY. Standalone told the same story — PAT ₹4,149 Cr vs ₹4,451 Cr (−6.8%) — so there is no divergence between the two bases; consolidated is a whisker higher purely on the small RECPDCL consultancy subsidiary (PAT ₹43 Cr). The sharp +24% QoQ jump in profit is a low-base rebound off a Q4 that carried heavy year-end CSR (₹236 Cr) and impairment charges, not fresh momentum — YoY is the read that matters, and it is a step down. The margin bridge sits on two volatile lines rather than the core lending book. Net profit margin compressed to ~28.98% from 30.12% and operating margin to 36.26% from 38.19%. Interest income on loan assets was roughly flat YoY (₹13,888 Cr vs ₹14,271 Cr) and finance costs eased (₹8,748 Cr vs ₹8,934 Cr), but a ₹911 Cr net translation/transaction FX loss (versus just ₹51 Cr a year ago) dragged the print down; it was largely cushioned by a ₹967 Cr impairment write-back (provision reversal) as asset quality improved. Reassuringly, gross credit-impaired assets fell to 0.23% from 1.05% YoY and net to 0.11%, with the loan book at ₹5.90 lakh Cr and CRAR at 23.06% — the deterioration is in mark-to-market/FX noise, not credit. On expectations, REC gives no formal quarterly guidance and none is on record; a PSU earnings preview existed but no reliable consensus PAT number could be verified, so the result is best read on its own merits. The board paired the numbers with a 1st interim dividend of ₹4.25/share (record date July 31, 2026). The dominant forward overhang is corporate, not operational: the board's June-28 draft scheme of merger by absorption into parent PFC (88 PFC shares per 100 REC shares, appointed date April 1, 2027) is pending regulatory and shareholder approvals and will frame how these standalone earnings are ultimately valued. REC also incorporated several wholly-owned power-transmission SPVs during the quarter, signalling a build-out in the transmission project pipeline.

REC Limited has announced the incorporation of its wholly-owned subsidiary, Dharashiv Power Transmission Limited. This new entity, incorporated on July 21, 2026, is a subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which itself is a wholly-owned subsidiary of REC Limited. The subsidiary has been established for the purpose of establishing a 400 kV GIS Solapur/Paranda Switching Station in the Dharashiv district of Maharashtra. The incorporation follows a Gazette Notification by the Government of Maharashtra appointing RECPDCL as the Bid Process Coordinator for this project. Dharashiv Power Transmission Limited will be transferred to the successful bidder selected through the Tariff Based Competitive Bidding (TBCB) process. The initial authorized and paid-up capital is ₹5,00,000 each.

REC Ltd has announced that its Board of Directors will convene on July 24, 2026. The primary agenda items include the consideration and approval of the company's unaudited financial results for the first quarter ended June 30, 2026, on both standalone and consolidated bases. Additionally, the board will discuss the potential declaration of an interim dividend for the financial year 2026-27. The trading window for REC's securities remains closed since May 14, 2026, and will continue until further notice, restricting trading activities for designated persons and their immediate relatives.

REC Ltd has announced the appointment of Smt. Poonam Chauhan as a Non-Official Independent Director to its Board. The appointment, conveyed by the Ministry of Power, Government of India, is for a period of three years, effective from the date of notification or until further orders. The company is currently completing the necessary statutory formalities for this appointment. Further details as per SEBI regulations will be filed separately.

REC Ltd has announced the incorporation of two new wholly owned subsidiary companies: Beed Parli Power Transmission Limited and Yavatmal Power Transmission Limited. These entities were incorporated through REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Ltd. Both companies have an authorized and paid-up capital of ₹5,00,000 each and are yet to commence business. They have been formed to undertake specific intra-state transmission projects in Maharashtra, namely the establishment of 765 kV AIS Parli and 400 kV AIS Yavatmal. These companies will be transferred to successful bidders selected through the Tariff Based Competitive Bidding (TBCB) process. The incorporation is in line with a Gazette Notification from the Government of Maharashtra.

REC Ltd's Board of Directors has acknowledged a fine levied by stock exchanges for non-compliance with SEBI Listing Regulations concerning the composition of its Board of Directors for the quarter ended March 31, 2026. The Board noted the non-compliance and the imposed fines. They have requested the Ministry of Power to expedite the appointment of Independent Directors, emphasizing that as a Government Company, the appointment power rests with the President of India via the Ministry of Power, not the company itself. Consequently, REC has requested a waiver of the imposed fines, citing its lack of control over director appointments. The filing also details the fine amount of ₹4,50,000 plus GST, totaling ₹5,31,000, and outlines the procedure for requesting a waiver.