REC Ltd

REC Ltd Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

REC Ltd

₹ 491 -4.97%
21 Nov - close price
recindia.nic.in BSE: 532955 NSE: RECLTD
About

REC is a Central Public Sector Undertaking under the Ministry of Power involved in financing projects in the complete power sector value chain from generation to distribution. [1]

Key Points

Services Offered
Loan for Generation Projects - Setting up new power generating stations based on conventional sources and renewable sources of energy.
Loan for Transmission Projects - Evacuation of power from new power generating stations and strengthening/ improvement of existing transmission systems in the designated areas.
Loan for Distribution Projects - Strengthening and improvement of the power sub-transmission and distribution system in the designated areas.
Short-term loans/Medium-term loans - Working capital requirements for purposes like purchase of fuel for power plant, purchase of power, purchase of material and minor equipment, system and network maintenance including repair of transformers, etc. [1]
Infra Finance Co. recently forayed into lending to Infra and Logistics sector. Co. provides loans to Metro, Road and highways, Port Waterways, and Steel Infra developers.[2]

Website BSE NSE
  • Market Cap ₹ 1,29,341 Cr.
  • Current Price ₹ 491
  • High / Low ₹ 654 / 332
  • Stock P/E 8.69
  • Book Value ₹ 279
  • Dividend Yield 3.26 %
  • ROCE 10.0 %
  • ROE 22.2 %
  • Face Value ₹ 10.0
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Pros

  • Stock is providing a good dividend yield of 3.26%.
  • Company has delivered good profit growth of 19.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 29.9%
  • Company's working capital requirements have reduced from 45.1 days to 32.7 days

Cons

  • Company has low interest coverage ratio.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance - Term-Lending Institutions

Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 BSE PSU

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
10,048 10,037 9,633 9,497 9,956 9,782 10,243 11,104 11,688 12,052 12,677 13,079 13,682
1,155 1,065 1,440 1,175 794 45 -149 332 -492 240 -425 717 97
Operating Profit 8,893 8,973 8,193 8,323 9,162 9,737 10,392 10,771 12,180 11,812 13,102 12,362 13,585
OPM % 88% 89% 85% 88% 92% 100% 101% 97% 104% 98% 103% 95% 99%
9 32 23 9 8 14 12 4 13 20 29 14 24
Interest 5,562 5,548 5,353 5,376 5,728 6,134 6,496 7,049 7,350 7,654 7,896 8,020 8,506
Depreciation 5 5 6 6 6 6 6 6 6 6 6 6 6
Profit before tax 3,335 3,452 2,857 2,950 3,436 3,610 3,901 3,721 4,838 4,172 5,229 4,349 5,097
Tax % 19% 20% 19% 17% 20% 19% 21% 20% 22% 21% 22% 20% 21%
2,692 2,773 2,301 2,454 2,732 2,915 3,065 2,968 3,790 3,308 4,079 3,460 4,038
EPS in Rs 10.22 10.53 8.74 9.32 10.38 11.07 11.64 11.27 14.39 12.56 15.49 13.14 15.33
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
13,634 17,223 20,544 24,125 24,338 22,658 25,408 29,942 35,557 39,276 39,486 47,517 51,490
365 572 1,149 1,680 1,888 3,379 1,702 3,981 3,292 4,838 1,858 -366 630
Operating Profit 13,270 16,650 19,395 22,445 22,450 19,279 23,705 25,961 32,265 34,438 37,628 47,883 50,860
OPM % 97% 97% 94% 93% 92% 85% 93% 87% 91% 88% 95% 101% 99%
4 6 6 4 24 18 33 72 15 62 28 48 87
Interest 8,083 10,035 11,840 14,282 13,462 13,333 15,639 18,991 21,489 22,051 23,733 29,948 32,075
Depreciation 4 5 8 20 40 7 8 12 11 18 24 24 24
Profit before tax 5,186 6,617 7,552 8,147 8,972 5,958 8,090 7,030 10,780 12,431 13,898 17,960 18,848
Tax % 26% 28% 29% 30% 30% 25% 29% 29% 22% 19% 20% 21%
3,833 4,741 5,344 5,691 6,313 4,451 5,741 4,972 8,378 10,036 11,167 14,145 14,885
EPS in Rs 14.56 18.01 20.30 21.61 23.98 16.90 21.80 18.88 31.82 38.11 42.41 53.72 56.52
Dividend Payout % 21% 20% 20% 30% 30% 41% 38% 44% 30% 30% 30% 30%
Compounded Sales Growth
10 Years: 11%
5 Years: 13%
3 Years: 10%
TTM: 20%
Compounded Profit Growth
10 Years: 12%
5 Years: 20%
3 Years: 19%
TTM: 17%
Stock Price CAGR
10 Years: 14%
5 Years: 36%
3 Years: 70%
1 Year: 46%
Return on Equity
10 Years: 20%
5 Years: 20%
3 Years: 21%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 987 987 987 987 1,975 1,975 1,975 1,975 1,975 1,975 2,633 2,633 2,633
Reserves 16,543 19,816 24,085 27,906 31,696 30,613 32,571 33,422 41,789 49,339 55,487 66,717 70,877
107,762 126,173 150,979 169,212 167,852 204,367 244,249 286,289 329,723 333,043 380,790 445,568 483,617
5,277 5,968 7,404 8,840 8,723 5,416 19,659 25,345 27,380 26,503 26,592 33,273 38,100
Total Liabilities 130,570 152,944 183,456 206,945 210,245 242,370 298,454 347,030 400,867 410,860 465,503 548,191 595,227
72 73 110 254 355 132 165 166 267 628 641 632 622
CWIP 9 10 10 78 166 129 199 288 336 6 3 24 49
Investments 638 1,690 1,596 2,352 2,617 2,948 2,463 2,386 1,981 2,190 3,170 5,352 6,790
129,851 151,170 181,740 204,261 207,108 239,162 295,627 344,190 398,282 408,035 461,689 542,184 587,766
Total Assets 130,570 152,944 183,456 206,945 210,245 242,370 298,454 347,030 400,867 410,860 465,503 548,191 595,227

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-20,059 -17,244 -23,898 -13,278 6,805 -32,510 -35,866 -32,712 -43,512 -819 -37,360 -57,723
152 136 151 -756 -101 46 457 121 861 -287 -943 -1,831
16,059 16,815 23,098 15,291 -3,947 28,244 35,543 33,926 42,113 68 38,123 59,588
Net Cash Flow -3,847 -293 -649 1,257 2,757 -4,220 134 1,336 -538 -1,038 -180 34

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 1 1 2 4 7 2 2 1 1 1 1 1
Inventory Days
Days Payable
Cash Conversion Cycle 1 1 2 4 7 2 2 1 1 1 1 1
Working Capital Days -156 -103 -152 560 268 -3 16 9 -2 35 68 33
ROCE % 12% 12% 12% 12% 11% 9% 9% 9% 9% 9% 9% 10%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63%
24.85% 24.27% 23.36% 23.41% 21.50% 21.52% 21.90% 20.36% 20.60% 19.91% 20.43% 21.22%
9.94% 9.43% 8.68% 11.95% 12.11% 11.87% 12.02% 14.10% 14.16% 15.44% 14.68% 14.25%
0.00% 0.00% 0.00% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.05% 0.05% 0.05%
12.58% 13.66% 15.32% 11.97% 13.73% 13.93% 13.41% 12.87% 12.55% 11.96% 12.21% 11.84%
No. of Shareholders 3,81,9904,23,5184,67,0245,20,5075,50,0675,76,7595,71,8156,21,5786,89,1927,70,80810,33,68410,40,888

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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