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REC Limited Reviews

New Delhi

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REC Limited, formerly known as Rural Electrification Corporation Limited, is a prominent Maharatna Central Public Sector Enterprise (CPSE) operating under the administrative control of the Ministry of Power, Government of India. Established on July 25, 1969, and headquartered in New Delhi, the company functions as a premier Non-Banking Financial Company (NBFC) and an Infrastructure Finance Company (IFC). REC is a subsidiary of the Power Finance Corporation (PFC) Limited, which acquired a controlling stake in the company in March 2019. The core operations of REC Limited revolve around providing comprehensive financial assistance and strategic advisory services across the entire power sector value chain in India. This includes financing projects in power generation (both conventional and renewable energy sources), transmission, and distribution. REC offers a diverse range of financial products, including long-term, medium-term, and short-term loans, debt refinancing, equipment manufacturing finance, and revolving bill payment facilities. Its primary clientele consists of central and state public sector power utilities, state electricity boards, rural electric cooperatives, non-governmental organizations, and private sector power developers. In recent years, REC has significantly expanded its operational mandate beyond the power industry to finance non-power infrastructure and logistics projects. This expanded portfolio now includes funding for critical sectors such as roads and highways, railways, metro systems, airports, ports, waterways, healthcare, communications, and steel infrastructure. Additionally, the company serves as a vital nodal agency for the implementation of flagship Government of India schemes, including the Revamped Distribution Sector Scheme (RDSS), Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya), PM Surya Ghar Muft Bijli Yojana, and the National Electricity Fund (NEF). Financially, REC Limited is a highly robust institution listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) under the tickers RECLTD and 532955, respectively. For the fiscal year ending March 31, 2026, the company reported a consolidated total income of INR 59,628.35 crore and achieved its highest-ever consolidated net profit of INR 16,308.17 crore. The company maintains a strong market capitalization of approximately INR 93,500 crore, backed by a resilient Capital to Risk-Weighted Assets Ratio (CRAR) of 24.26% and an asset quality showing a Gross NPA of 2.42% as of late 2025. Led by Chairman and Managing Director Jitendra Shrivastava, REC prioritizes sustainable development and has integrated Environmental, Social, and Governance (ESG) frameworks directly into its loan appraisal processes. The company has targeted an ambitious tenfold expansion of its renewable energy loan book by 2030, heavily focusing on solar, wind, green ammonia/hydrogen, and pumped storage projects to support India's long-term transition toward clean energy.