Rec Limited · NSE:RECLTD
Rec — Q1 FY2025-26 Earnings Presentation
33 slides from Rec's earnings presentation, Jul 24, 2025
Slide 1: Investor Presentation: Performance Highlights Q1 FY 2025-26
REC Limited A Maharatna Company INVESTOR PRESENTATION Performance Highlights Q1 FY 2025-26
Slide 2: Table of Contents
Table of Contents 01 Operational 03 Borrowing 05 ESG Performance Profile Financial 06 Asset 02 04 REC Quality Highlights Overview
Slide 3: REC Overview
01 REC OVERVIEW • REC Journey • Key Strengths • Government’s Trusted Arm • Our Diversified Portfolio • Shareholders Outlook • Shareholders Outlook cont.. • Awards and Accolades
Slide 4: REC Journey
2024: Appointed as National programme implementing REC Journey agency for PM Surya Ghar Muft Bijli Yojana, Maiden 2022: Conferred Yen Bond issuance of JPY ‘Maharatna’, 61.1 Bn and USD Bond highest status for a issuance of $500 Mn PSU. Forayed into Infrastructure 2019: As Nodal 2024 sector Agency, ac
Slide 5: Key Strengths
Key Strengths Occupies Strategic Position in the Strong Fundamentals and Growth and development of the Power Profitable Business with Stable Sector and a major player In Renewable Margins leading to Strong Energy segment and creation of India’s Profitability Green Energy Corridor Highest Domestic Ra
Slide 6: Government's Trusted Arm
Government’s Trusted Arm RDSS SAUBHAGYA Rooftop Solar (RTS) LPS Programme REC Consumer Services NEF Ratings of Discoms (Operational) Integrated Rating DDUGJY of Discoms (Financial)
Slide 7: Our Diversified Portfolio
Our Diversified&Portfolio Infrastructure Logistics Sub-Sector we Finance Conventional Renewable Generation Energy Transmission Infrastructure REC Distribution Logistics E-Mobility
Slide 8: Shareholders Outlook
Shareholders Outlook Shareholding Pattern as on June 30, 2025 Top 10 Shareholders as on June 30, 2025 Shareholding Rank Particulars (%) 1 Power Finance Corporation Limited 52.63 Non- Institutional 12.65% 2 Life Insurance Corporation Of India - P & GS Fund 1.48 Foreign 3 NPS Trust-A/C LIC Pension Fun
Slide 9: Shareholders Outlook Continued..
Shareholders Outlook Continued.. Dividend as a % of Equity Share Capital Consistently high dividend paying company 200% 180.00% 175% Interim dividend recommended for 160.00% Q1 FY26 of ₹4.60 (46%) per share 150% 126.00% 125% 114.75% Earnings per Share (EPS) - ₹67.60 95.33% 100% 82.50% 82.50% 75% Boo
Slide 10: Awards and Accolades
Awards and Accolades Golden Adam Smith Peacock Award CSR Award Excellence Awards ASIA from National 2024 in Green 2024 Culture Fund, For Excellence in For Best Funding Financing Corporate Ministry of Culture Awarded by Solution Governance Network 18 Emerging Certificate of Editors Technology ASSOCHA
Slide 11: Operational Performance
02 OPERATIONAL PERFORMANCE • Sanctions • Disbursements • Outstanding loans • Pan India presence – Loan Assets
Slide 12: Sanctions - Composition
Sanctions - Composition Sector-wise breakup of Sanctions for Q1 FY 25-26 (₹ in crore) Q1 12M I&L Core STL/MTL Discipline-wise in 1% 1% Conventional FY26 % FY25 % FY25 % Generation Distribution 28% Conventional Generation 28,237 28 35,552 32 89,632 27 43% Renewable Energy 19,659 20 38,492 34 1,05,259
Slide 13: Disbursements - Composition
Disbursements - Composition Sector-wise breakup of Disbursements for Q1 FY 25-26 (₹ in crore) Q1 12 M Discipline-wise I&L - E&M STL/ MTL Conventional FY 26 % FY 25 % FY 25 % 2% 3% Generation Conventional Generation 3,318 6 4,667 11 27,478 14 I&L - Core 6% 1% Renewable Energy 7,233 12 5,351 12 26,186
Slide 14: Outstanding Loans – Composition
Outstanding Loans – Composition Sector-wise breakup of Loan Book as on Q1 FY 25-26 (₹ in crore) As on Private Discipline-wise June 30,2025 June 30,2024 March 31, 2025 State 13% 87% Amount % Amount % Amount % State 5,07,829 87 4,70,653 89 4,94,578 87 Private 76,739 13 59,086 11 72,305 13 Total 5,84,5
Slide 15: PAN India presence – Loan Book
PAN India presence J&K 12,472 Haryana 6,737 Himachal Pradesh – Loan Book 1,528 Delhi 75 (₹ in crore) Punjab Uttarakhand 6,251 2,583 Lending across 26 States & UTs UP 47,717 Assam Rajasthan Bihar 732 65,795 10,270 State/ Joint Sector Borrowers Nagaland 32 ₹5,07,829 crore Manipur 383 Meghalaya 557 Pri
Slide 16: Asset Quality
03 ASSET QUALITY • Asset quality and provision coverage • Loan portfolio and ECL provisioning • Credit impaired assets and resolution status
Slide 17: Asset Quality and provisioning coverage
Asset Quality and provisioning coverage Improving Asset Quality Provision Coverage Ratio 77.05% 75% 2.78% 3.00% 2.71% 71.73% 2.61% 2.53% 70.41% 68.45% 68.48% 1.95% 65.12% 2.00% 65% 61.88% 1.35% 1.05% 0.82% 0.86% 0.82% 0.88% 1.00% 0.74% 55% 0.38% 0.24% 0.00% Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25
Slide 18: Loan Portfolio and ECL provisioning
Loan Portfolio and ECL provisioning (₹ in crore) Loan Credit Impaired Assets (Stage – III) Standard Assets (Stage – I & II) Provision Provision Total ECL Particulars O/s O/s ECL coverage O/s ECL coverage ratio # ratio (%) (%) @ State Sector -Generation 1,35,670 - - - 1,35,670 1,555 1.15% 1,555 -Rene
Slide 19: Credit Impaired Assets – Resolution Status
Credit Impaired Assets – Resolution Status All credit • ₹6,147 crore in NCLT Resolution impaired • 11 projects status of assets under • 77.05% provision Credit Impaired NCLT Assets One stressed asset having outstanding loan of ₹1,504 crore has been resolved during Q1 FY26
Slide 20: Borrowing Profile
04 BORROWING PROFILE • Credit ratings for long term borrowings • Outstanding borrowings
Slide 21: Credit Ratings for Long Term Borrowings
Credit Ratings for Long Term Borrowings Long-term International Ratings Japan Credit Rating Agency Baa3 (Stable)–Key Highlights BBB- (Stable)–Key Highlights BBB+ (Stable)–Key Highlights REC plays a very important role in the implementation of the REC Limited (REC) remains strategically important t
Slide 22: Outstanding Borrowings
Outstanding Borrowings (₹ in crore) FCNR June 30, June 30, March 31, Particulars (B) 2025 2024 2025 Loans 6% (A) Domestic Borrowings Institutional including Subordinated Bonds 2,31,440 1,93,011 2,10,039 External Commercial Loans from Banks, FIs, NSSF, etc. 66,085 75,043 56,550 Borrowings 54EC Capita
Slide 23: Financial Highlights
05 FINANCIAL HIGHLIGHTS • Key Financial Highlights • Key Ratios • Standalone Statement of Profit & Loss • Standalone Statement of Assets and Liabilities
Slide 24: Key Financial Highlights for Q1 FY26 vs Q1 FY25
Key Financial Highlights for Q1 FY26 vs Q1 FY25 Net Profit Total Net Income Interest Income ₹4,451 crore vs ₹3,442 crore ₹14,734 crore vs ₹5,247 crore vs (29% growth) ₹13,037 crore ₹4,474 crore (13% growth) (17% growth) Highest Highest Loan Book Net Credit Net Worth Impaired Assets ₹5.85 lakh crore
Slide 25: Key Ratios
Key Ratios Q1 12 M Particulars FY 26 FY 25 FY 25 Yield on Loan Assets (%) 10.08 9.99 10.05 Cost of Funds (%) 7.12 7.05 7.11 Interest Spread (%) 2.96 2.94 2.94 Net Interest Margin (%) 3.74 3.64 3.63 Return on Net Worth (%) 22.63 19.51 21.46 Interest Coverage Ratio (Times) 1.63 1.54 1.58 Debt Equity R
Slide 26: Standalone Statement of Profit & Loss
Standalone Statement of Profit & Loss (₹ in crore) Q1 12 Months Particulars FY 26 FY 25 FY 25 Interest Income on Loan assets 14,192 12,500 54,026 Less: Finance Costs1 8,945 8,026 34,148 Net Interest Income 5,247 4,474 19,878 Other Operating Income 454 237 1,536 Net gain/ (loss) on fair value changes
Slide 27: Standalone Statement of Assets and Liabilities
Standalone Statement of Assets and Liabilities (₹ in crore) Particulars As at 30.06.2025 As at 30.06.2024 As at 31.03.2025 Assets (1) Financial Assets Cash and bank balances 783 6,260 1,750 Derivative financial instruments 18,033 12,973 17,432 Loans (Ind-AS) 5,77,798 5,20,243 5,59,088 Investments 8,
Slide 28: ESG
06 ESG • ESG at REC Limited • REC’s Contribution for clean energy projects
Slide 29: ESG at REC Limited
ESG at REC ESG at REC Limited Limited ESG Gap Assessment ESG Report Stakeholders ESG New ESG related policies Assessment Published 1st ever ESG REC ESG Policy introduced, More human ESG Assessment of report referenced to REC adopted board rights and well being trainings Private Borrowers and GRI for
Slide 30: REC's Contribution for Clean Energy Projects
REC’s Contribution for Clean Energy Projects (₹ in crore) Wind Solar 10,031 REC being the stepping stone for India’s energy transition, our lending strategies 28,843 are tailored to align with India’s commitment to harnessing clean and green H Large Hydro energy sources. 9,699 Large Hydro 10,145 MW
Slide 31: Investor Resources
Investor Resources Join us: @reclindia https://recindia.nic.in/ Annual Report: Investor Announcements: Recent reports relevant to power sector : https://recindia.nic.in/annual-reports https://recindia.nic.in/notice https://powermin.gov.in/en/content/ Financial Results: annual-reports-year-wise-minis
Slide 32: Contact Information
Contact Information Join us: @reclindia https://recindia.nic.in/ Investor Relations/ 54EC & Other Equity Share Queries: Bond Queries : Complianceofficer@recindia.com Investorcell@recl.in
Slide 33: REC
a REC ais al, area Endless energy infinite possiblties. AMAHARATNA COMPANY C6U,~_ (€)@) x) in) @RECLindia | & www.recindia.nic.in