REC Limited held its 55th Annual General Meeting (AGM) on Tuesday via video conferencing, chaired by Chairman & Managing Director (CMD) Vivek Kumar Dewangan. The meeting highlighted significant achievements, including a 34% increase in loans sanctioned, reaching ₹3.58 lakh crore in 2023-24, and record disbursements of ₹1.61 lakh crore, a 67% year-on-year growth. Total income rose by 20% to ₹47,214 crore, while net profit increased by 27% to ₹14,019 crore. The loan book grew by 17% to ₹5.09 lakh crore, with a Capital Adequacy Ratio of 25.82%.
Dewangan also noted REC’s focus on India’s energy transition, managing ₹38,971 crore in renewable energy loans, with a target to increase this to 30% of a projected ₹10 lakh crore loan book by 2030. Additionally, REC launched its first Sustainability Report, setting a baseline for carbon footprint reduction, aligning with ESG goals, and committing to operational efficiency and social responsibility.
