Delhi, January 29, 2026: The Board of Directors of REC Limited, today approved the limited reviewed standalone and consolidated financial results for the quarter and period ended December 31, 2025.

Operational and Financial Highlights: 9M FY26 vs 9M FY25 (Standalone)

– Net Profit: ₹12,920 crore Vs ₹11,477 crore, up by 13%

– Net interest income: ₹15,677 crore Vs ₹14,191 crore, up by 10%

– Revenue from operations: ₹44,641 crore Vs ₹40,752 crore, up by 10%

– Total income: ₹44,781 crore Vs ₹40,805 crore, up by10%

– Net credit-impaired assets reduced to 0.20% from 0.74%

– Disbursements: ₹1,65,458 crore Vs ₹1,45,647 crore, up by 14%

– Sanctions: ₹3,33,354 crore Vs ₹2,71,814 crore, up by 23%

REC is able to maintain its spread at 2.73% and NIM at 3.52%. As a result, the Annualised Earnings Per Share (EPS) for the period ended December 31, 2025 accelerated by 13% to ₹65.42 per share as against ₹58.11 per share as at December 31, 2024.

The loan book has maintained its growth trajectory on sustainable basis at ₹5.82 lakh crore against ₹5.66 lakh crore as on December 31, 2025.

As an outcome of continuous endeavour to improve the term loan portfolio (excluding RBPF and Stage-3 loan assets) of the Company, has grown by 10% on Y-o-Y basis. As a result, the RBPF loan book and stage-3 loan assets have reduced by 55% and 54% respectively in the same period.

Indicating the ample opportunity to support the future growth, the Capital Adequacy Ratio (CRAR) of the Company stands at a comfortable 24.26% as at December 31, 2025. Aided by growth in profits, the Net Worth has grown by 13% on Y-o-Y basis to ₹86,262 crore as on December 31, 2025 from ₹76,502 crore.

Continuing with the tradition to reward its shareholders, the Board of Directors of the Company has declared the third interim dividend of ₹ 4.60 per equity share (on face value of ₹10/- each) with this total interim dividend for the financial year 2025-26 is ₹13.80 per share.

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• 14% increase registered in consolidated Profit After Tax from Rs. 12,610 cr. in H1’24 to Rs. 14,397 cr. for H1’25.
• Consolidated Net worth (including non-controlling interest) increased by 17% from Rs. 1,23,703 cr. as on 30.09.2023 to Rs. 1,45,158 cr. as on 30.09.2024
• 13% growth witnessed in Consolidated Loan Asset Book from Rs. 9,23,724 cr. as on 30.09.2023 to 10,39,472 crores as on 30.09.2024.
• Owing to concentrated resolution efforts, consolidated Net NPA has reached its lowest level at 0.80% in H1’25 vis-à-vis 0.98% in H1’24. Gross NPA also declined significantly by 78 bps from 3.40% in H1’24 to 2.62% in H1’25.

Stand Alone Financial Highlights

• Registered highest ever quarterly Profit After Tax (PAT) of Rs. 4,370 cr. in Q2’25, an increase of 14% from Rs. 3,847 cr. in Q2’24.
• For H1’25, PFC delivered PAT of Rs. 8,088 cr., an impressive increase of 18% from Rs. 6,854 cr. in H1’24.
• PFC board declared an interim dividend of Rs. 3.50 per share, taking cumulative interim dividend to Rs. 6.75 per share.
• 10% growth registered in loan asset book- from Rs. 4,49,458 cr. as on 30.09.2023 to Rs.4,93,363 cr. as on 30.09.2024.
• PFC continues to maintain healthy capital adequacy levels quarter after quarter. CRAR as on 30th September,2024 is at 24.38%, with Tier 1 capital at 22.29%.
• 15% increase in net worth from Rs. 74,445 cr. as on 30.09.2023 to Rs. 85,924 cr. as on 30.09.2024
• In Q2’25, PFC successfully reached resolution in Lanco Amarkantak Power Ltd of Rs. 2,376 crores.
• Gross NPA ratio reaches below 3% and is at 2.71% for H1’25 vis-à-vis 3.67% for H1’24. Net NPA Ratio also saw a significant reduction of 28 bps from H1’24 and is at its lowest level at 0.72%.
• PFC is the first Indian PSU to successfully secure the largest-ever foreign currency term loan deal amounting to USD eq 1.265 bn in Q2’25.

Management Comments

• “On PFC’s performance, Director (Finance), Mr. Sandeep Kumar shared that PFC maintains its track record of financial excellence. We achieved record-breaking quarterly profits of Rs. 4,370 cr in Q2’24, with a year-on-year increase of 14%. Our commitment to financial health extends beyond profitability. This quarter, we successfully reduced Net NPA levels below 1%, reaching a level of 0.72%. This achievement reflects our active efforts in resolving stressed assets. We will continue to leverage our strengths and remain committed to delivering strong performance quarter on quarter.

• “On PFC’s performance, Chairman and Managing Director, Ms. Parminder Chopra shared that PFC has once again delivered a remarkable quarter, marked by strong disbursements of Rs. 46,663 cr. Maximizing returns for our valued shareholders remains our top priority. In this quarter, our Board has declared an interim dividend of Rs. 3.50 per share. Our subsidiary, PFC Infra Finance IFSC Ltd based in IFSC GIFT City Gujarat, commenced foreign currency lending operations in October 2024. This makes it the first company to commence power and infra lending business in IFSC.  We are confident that our strategic initiatives will drive long-term growth and create sustainable value for all stakeholders.

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Delhi, 26^th October 2024: The Board of Directors of REC Limited, today approved the limited reviewed standalone and consolidated financial results for the half year ended September 30, 2024.

 Operational and Financial Highlights: Q2 FY25 vs Q2 FY24 (Standalone)

–  Revenue from operations: ₹13,571 crore vs. ₹11,576 crore, up 17%

–  Total income: ₹13,596 crore vs. ₹11,590 crore, up 17%

–  Net interest income : ₹5,012 crore vs. ₹4,091 crore, up 22%

–  Disbursements: ₹47,303 crore vs. ₹41,598 crore, up 14%.

–  Disbursements in Renewable : ₹5,946 crore vs. ₹4,309 crore, up 38%

Operational and Financial Highlights: H1 FY25 vs H1 FY24 (Standalone)

–   Revenue from operations: ₹26,594 crore vs. ₹22,552 crore, up 18%

–   Total income: ₹26,633 crore vs. ₹22,571 crore, up 18%

–   Net interest income : ₹9,723 crore vs. ₹7,763 crore, up 25%

–  Total sanctions to renewable sector: ₹60,391 crore vs. ₹49,929 crore, up by 21%

–  Disbursements: ₹90,955 crore vs. ₹75,731 crore, up 20%, of which disbursements to renewables constituted major component : ₹11,297 Crore Vs. ₹5,843 Crore, i.e. with YoY increase of 93%

–   Net Profit: ₹7,448 crore vs. ₹6,734 crore, up 11%

–   Yield: 10.08% vs. 9.90%, up 18 bps

–   Average cost of funds: 7.12% vs. 7.17%, reduction by 5 bps

–   Spread: 2.96% vs. 2.73%, up 23 bps

–   Net interest margin: 3.64% vs. 3.41%, up 23 bps

–   Return on net worth: 21.03%

–   Market capitalization: ₹1,46,011 crore vs. ₹75,678 crore, up 93%

Owing to growth in all the verticals, resetting of interest rates on loan assets and effective management of Finance Cost, REC is able to maintain its spreads and NIMs resulting in robust half yearly profit after tax of ₹7,448 crore. As a result, the Earnings Per Share (EPS) for the period ended September 30, 2024 accelerated to ₹28.28 (Annualized ₹56.56) per share as against ₹25.57 (Annualized ₹51.14) per share as at September 30, 2023.

The loan book i.e. Asset Under Management (AUM) has maintained its growth trajectory and has increased by 15.2% on sustained basis to ₹5.46 lakh crore as against ₹4.74 lakh crores as at September 30, 2023. The net credit-impaired assets as at September 30, 2024 have reduced to 0.88% from 0.96% as at September 30, 2023 with Provision Coverage Ratio of 65.12% on NPA assets, as at September 30, 2024.

Aided by growth in profits, the Net Worth has grown to ₹72,893 crores as on September 30, 2024, as compared to ₹63,117 crore as on Sept 30,2023 registering an increase of 15% YoY.

Indicating the ample opportunity to support the future growth, the Capital Adequacy Ratio (CRAR) of the Company stands at a comfortable 25.31% as at September 30, 2024.

Continuing with the tradition to reward its shareholders, the Board of Directors of the Company has declared the 2^nd interim dividend of ₹ 4.00 per equity share (on face value of ₹10/- each).

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