New Delhi: REC Limited has reported a profit after tax (PAT) of ₹7,541 crore for the half year ended September 30, 2026 (H1 FY27). The company’s Board of Directors approved its standalone and consolidated financial results for the quarter and half year ended September 30, 2026, and declared a second interim dividend of ₹3.50 per equity share for FY 2026-27.
The dividend is payable on equity shares with a face value of ₹10 each, continuing REC’s consistent dividend payout tradition.
The company also recorded strong growth in its loan book, renewable energy financing and net worth, supported by sustained demand in the power sector and its focus on technology-driven credit assessment and customer-centric financial solutions.
REC Loan Book Reaches ₹6.17 Lakh Crore in H1 FY27
REC’s loan book increased by ₹26,537 crore, reaching ₹6.17 lakh crore as of September 30, 2026. The loan book also registered sequential growth of 5% during the quarter, reinforcing the company’s position as a leading standalone financier in India’s power sector.
The company attributed its growth in assets under management (AUM) to strong power demand, increased power offtake and its focus on technology-led credit assessment and customer-focused solutions.
During the second quarter of FY27, REC recorded power sector disbursements of ₹53,541 crore, while disbursements for the first half of FY27 reached ₹79,207 crore. According to the company, these were the highest disbursement figures among its peers in the power sector for the respective periods.
Key business highlights:
- Loan book: ₹6.17 lakh crore as of September 30, 2026.
- Growth in loan book: ₹26,537 crore.
- Q2 FY27 disbursements: ₹53,541 crore.
- H1 FY27 disbursements: ₹79,207 crore, the highest among peers in the power sector.
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REC Net Worth Rises 14% to ₹94,325 Crore
REC’s profit after tax stood at ₹7,541 crore for H1 FY27, translating into annualised earnings per share (EPS) of ₹57.27.
The company’s net worth increased by 14% year-on-year to ₹94,325 crore as of September 30, 2026, strengthening its capital base and capacity to support future business growth.
REC maintained a net interest margin (NIM) of 3.22% during H1 FY27. The company said continued efforts by the Ministry of Power to improve the financial health of power utilities have contributed to lower credit risk premiums across the sector. REC has been passing on the benefits of these improvements to the sector in line with market conditions while maintaining a healthy NIM.
The Board also declared a second interim dividend for FY 2026-27:
- Dividend per share: ₹3.50.
- Face value per equity share: ₹10.
Renewable Energy Portfolio Grows 27% to ₹86,660 Crore
REC continued to expand its presence in strategic growth sectors, particularly renewable energy. Its renewable energy portfolio reached ₹86,660 crore as of September 30, 2026, registering year-on-year growth of 27%.
The expansion reflects REC’s continued support for India’s clean energy transition and the financing requirements of the renewable energy sector.
The company’s portfolio in the non-power infrastructure and logistics sectors also increased to ₹61,637 crore. These assets accounted for more than 10% of REC’s overall loan assets, highlighting its growing presence beyond traditional power-sector financing.
Through its diversified portfolio, REC aims to address financing requirements across power, renewable energy, infrastructure and logistics.
Asset Quality Remains Strong, Net NPA at 0.11%
REC continued to maintain strong asset quality during the first half of FY27. During the quarter, the company resolved a Stage III asset worth ₹4.16 crore, helping bring its net non-performing assets (NNPA) ratio to 0.11% as of September 30, 2026.
The company’s Stage II loan assets declined by 80% year-on-year to ₹3,235 crore as of September 30, 2026. REC attributed the reduction to focused recovery efforts and effective monitoring of loan accounts.
Asset quality highlights:
- Net NPA ratio: 0.11% as of September 30, 2026.
- Stage III asset resolved: ₹4.16 crore during the quarter.
- Stage II loan assets: ₹3,235 crore, down 80% year-on-year.
The improvement in asset quality reflects the company’s efforts to strengthen credit monitoring and manage risks across its lending portfolio.
REC Maintains Strong Capital Adequacy Position
REC reported a capital adequacy ratio (CRAR) of 24.04% and a Common Equity Tier 1 (CET1) capital ratio of 20.91% as of September 30, 2026.
Both ratios remained above the applicable minimum requirements specified by the Reserve Bank of India (RBI), which stand at 15% for CRAR and 9% for CET1 capital, as cited by the company.
The strong capital position provides REC with additional capacity to finance infrastructure development and meet future lending requirements.
REC Issues India’s First Pilot Tokenised Corporate Bonds Under SEBI Sandbox
During the quarter, REC successfully issued India’s first pilot tokenised corporate bonds under the Securities and Exchange Board of India’s (SEBI) regulated sandbox framework.
The issue size stood at ₹500 crore, while the bond offering received bids worth ₹796 crore, reflecting investor interest in the new financing instrument.
The initiative marks a development in the use of technology in India’s debt capital markets and highlights REC’s participation in exploring innovative financing mechanisms.
REC also received the following recognitions during the quarter:
- Data Center Champion Award 2026.
- Silver Award for Best Corporate Bond Issuer.
- Silver Award for Best PSU Issuer.
These awards highlighted the company’s work in infrastructure financing and debt capital markets.
REC Focuses on India’s Power and Infrastructure Growth
India’s peak power demand reached a new high in FY27, demonstrating the power sector’s capacity to respond to rising electricity requirements. REC said strong power demand, improving utility finances and its focus on technology-driven lending supported its business growth during the period.
With an expanding renewable energy portfolio, growing exposure to non-power infrastructure and logistics, and a strong capital position, the company aims to support India’s infrastructure transformation and emerging financing needs.
About REC Limited
REC Limited is a Maharatna Central Public Sector Enterprise under the Ministry of Power, Government of India. It is a non-banking financial company that provides financing for the power sector and has expanded into renewable energy, non-power infrastructure and logistics. Through its lending operations, REC supports infrastructure development and initiatives aimed at strengthening India’s energy sector and economic growth.
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