NSE: RECLTD · BSE: 532955 · ISIN INE020B01018
REC Limited stock analysis
REC Limited ranks #3191 in the TickerSutra evidence-ranked universe with a score of 42/100 and 95% data confidence. The latest captured fundamentals show ROCE of 9.7%, quarterly sales growth of -2.0% and quarterly profit growth of -6.1%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹39,276cr | ₹12,387cr | ₹10,036cr | 32.0% |
| 2023 | ₹39,486cr | ₹13,894cr | ₹11,167cr | 35.0% |
| 2024 | ₹47,517cr | ₹17,936cr | ₹14,145cr | 38.0% |
| 2025 | ₹56,369cr | ₹20,084cr | ₹15,884cr | 36.0% |
| 2026 | ₹59,586cr | ₹20,780cr | ₹16,308cr | 35.0% |
| TTM | ₹59,202cr | ₹20,342cr | ₹16,035cr | 34.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
REC Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineGeneral UpdatesNSE · 29 Sept 2026Board comments on fine levied by the Exchanges.
RoutineREC Ltd - 532955 - Board Comments On Fine Levied By The Exchanges.BSE · 29 Sept 2026Board commnets on fine levied by the Exchanges.
RoutineSale or disposal-XBRLNSE · 28 Sept 2026 · Structured filingREC LIMITED has informed the Exchange regarding Sale or disposal of unit(s)/division(s)/subsidiary
REC LIMITED has informed the Exchange regarding Sale or disposal of unit(s)/division(s)/subsidiary
Open original XBRL sourceIntimation of sale and transfer of project specific SPV/Subsidiary.
MANAGEMENT COMMENTARY
Signals from filed documents
Governance: Leadership and Accountability T ransparency and proactive board oversight are the foundations of the Maharatna status of REC. • Market Leadership: The REC ESG Score has significantly improved across all rating agencies, including international rating agencies. • Board-Level Competency: REC achieved 100% training for the Board of Directors and Key Managerial Personnel on the National Guidelines on Responsi
Cumulative rooftop installations under the PM Surya Ghar: Muft Bijli Yojana have reached 33.64 lakh as of March 31, 2026, indicating sustained growth across distributed solar segments. Wind energy also demonstrated sustained progress, adding 6 GW of new capacity during the year (up from 4 GW previously), bringing its total cumulative installed capacity to 56 GW. Alongside these, Large Hydro capacity reached 51 GW (in
It provides a strategic window for diminishing risk from carbon intensive exposures and creating a stable, future proof loan portfolio. By driving green financing forward, REC can access low-cost ESG capital, get ahead of regulatory requirements and reinforce its position in India's clean energy transformation converting a global risk into a competitive strength. - Positive: Embracing green finance, REC can diversify
(Yes/No) Yes Yes Yes Yes Yes Yes Yes Yes Yes b . Has the polic y been approved by the Board? (Yes/No) Yes Yes Yes Yes Yes Yes Yes Yes Yes c .
The Company is committed to maintaining strong and open lines of dialogue with all its stakeholders. La test updates and relevant corporate disclosures made to the Stock Exchanges from time to time, quarterly and annual financial results, shareholding pattern, annual reports and other relevant information, including official news releases and result presentations made to institutional investors or analysts are availa
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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