Slide 1: Investor Presentation: Performance Highlights 9M FY 2025-26
REC Limited A Maharatna Company INVESTOR PRESENTATION Performance Highlights 9M FY 2025-26
Slide 2: Table of Contents
Table of Contents 01 Financial Highlights 03 Asset Quality 05 ESG Shareholders 06 Operational 02 04 REC Outlook Overview Performance
Slide 3: REC Overview
5 AMAHARATNA COMPANY ® REC OVERVIEW
Slide 4: REC Journey
2024: Appointed as National programme implementing agency for PM Surya Ghar Muft Bijli REC Journey 2022: Conferred Yojana, Maiden Yen Bond issuance of JPY 61.1 Bn and USD ‘Maharatna’ status, Bond issuance of $500 Mn highest status for a PSU. Forayed into 2019: As Nodal Infrastructure 2024 Agency, ac
Slide 5: Key Strengths
Key Strengths International Nodal Agency Highest Ratings of “Baa3” for major Govt. Domestic & “BBB-” at par of India’s Rating of with Sovereign Power Sector “AAA” Rating Programs Major player in Strategic player Healthy Asset Renewable Energy in the Indian Quality with segment and Power and adequate
Slide 6: Government's Trusted Arm
Government’s Trusted Arm Rooftop Revamped Solar (RTS) Distribution Programme Sector Scheme (RDSS) Consumer Pradhan Mantri Deen Dayal Other Late Payment Services Ratings National Sahaj Bijli Har Upadhyaya Gram Surcharge (LPS) of Discoms Electricity Fund Schemes Ghar Yojana Jyoti Yojana (Operational)
Slide 7: Diversified Portfolio
Diversified Portfolio Conventional Renewable Generation Energy Transmission Infrastructure REC Distribution Logistics
Slide 8: Awards and Accolades in FY26
Awards and Accolades in FY26 Best Infra Compliance Best Legal Best Financial Projects with Innovation and Technology Services Green Financing: Compliance Team Implementation Company Mumbai Metro of the Year 2025 2025 by Dun & by ET Infra in 7th Future of in 7th Future of Bradstreet Leadership Legal
Slide 9: Financial Highlights
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Slide 10: Key Financial Highlights for 9M FY26 vs 9M FY25
Key Financial Highlights for 9M FY26 vs 9M FY25 Highest Ever Total Net 9M Profit Income Interest Income ₹12,920 crore vs ₹44,781 crore vs ₹15,677 crore vs ₹11,477 crore ₹40,805 crore ₹14,191 crore (13% growth) (10% growth) (10% growth) Highest Loan Book Net Credit Net Worth Impaired Assets ₹5.82 lak
Slide 11: Revenue & Profits
Revenue & Profits (₹ in crore) Particulars 9M FY26 9M FY25 Q3 FY26 Q3 FY25 12M FY25 Interest Income on Loan assets (including DIPI) 43,000 39,569 14,314 13,771 54,321 Less: Finance Costs (including fee & comm) 27,323 25,378 9,246 8,841 34,149 Net Interest Income 15,677 14,191 5,068 4,930 20,172 Prof
Slide 12: Key Ratios
Key Ratios Particulars 9M FY26 9M FY25 12M FY25 Yield on Loan Assets (%) 10.03 10.09 10.05 Cost of Funds (%) 7.30 7.15 7.11 Interest Spread (%) 2.73 2.94 2.94 Net Interest Margin (%) 3.52 3.64 3.63 Return on Net Worth (%) 21.02 21.07 21.46 Interest Coverage Ratio (Times) 1.60 1.57 1.58 Debt Equity R
Slide 13: Operational Performance
03 OPERATIONAL PERFORMANCE
Slide 14: Sanctions – Composition
Sanctions – Composition Highest Ever 9M Sanctions 23% growth in Total Sanctions Y-o-Y (₹ in crore) 9M 12M Discipline-wise FY 26 FY 25 FY 25 Conventional Generation 1,21,297 75,673 89,632 Renewable Energy 64,652 79,135 1,05,259 Transmission 23,628 14,786 17,559 Distribution 1,07,243 49,665 67,481 Inf
Slide 15: Disbursements – Composition
Disbursements – Composition Highest Ever 9M 14% growth in Total Disbursements Disbursements Y-o-Y (₹ in crore) 9M 12M Discipline-wise FY 26 FY 25 FY 25 Conventional Generation 17,672 19,994 27,478 Renewable Energy 19,522 17,612 26,186 Transmission 7,261 4,427 6,064 Distribution 1,08,404 78,679 1,01,
Slide 16: Outstanding Loan Assets
Outstanding Loan Assets (₹ in crore) As on Loan Assets December 31, 2025 December 31, 2024 March 31, 2025 Discipline-wise grew from Amount % Amount % Amount % ₹5,65,621 crore to State 4,96,854 85 4,98,444 88 4,94,578 87 ₹5,81,787 crore Y-o-Y Private 84,933 15 67,177 12 72,305 13 Total 5,81,787 100 5
Slide 17: Outstanding Borrowings
Outstanding Borrowings (₹ in crore) December December March 31, Particulars 31, 2025 31, 2024 2025 (A) Domestic Borrowings Term Loans Bonds 2,77,096 2,60,079 2,65,670 15% Others 1% Term Loans 74,906 70,457 56,550 Commercial Papers 3,000 - - Bonds Borrowing 55% Profile External Sub Total (A) 3,55,002
Slide 18: Asset Quality
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Slide 19: Asset Quality and provisioning coverage
Asset Quality and provisioning coverage Continuously Improving Asset Quality Increasing Provision Coverage Ratio 76.96% 75% 8.00% 7.24% 70.64% 71.73% 7.00% 6.59% 68.45% 67.40% 6.00% 65% 4.84% 64.59% 5.00% 4.45% 3.79% 4.00% 3.32% 3.42% 3.00% 2.71% 55% 1.71% 2.00% 1.45% 1.35% 1.01% 0.86% 0.88% 49.64%
Slide 20: Loan Portfolio and ECL provisioning
Loan Portfolio and ECL provisioning (as on Dec 31, 2025) (₹ in crore) Outstanding Loan Assets Stage I Stage II Stage III Total State Sector 4,85,304 11,550* - 496854 Private Sector 75,415 4,395 5123 84933 Total Outstanding 5,60,719 15,945 5123 581787 % of Total Loan Assets 96.38% 2.74% 0.88% 100% Pr
Slide 21: Credit Impaired Assets – Resolution Status
Credit Impaired Assets – Resolution Status Two stressed assets having outstanding loan of ₹2,497 crore have been resolved during 9M FY26 8 projects worth ₹5110 crore in Under NCLT NCLT Resolution status 77% provision of Credit Impaired Assets 2 projects worth ₹13 crore outside Outside NCLT NCLT 27%
Slide 22: Shareholders Outlook
05 SHAREHOLDERS OUTLOOK
Slide 23: Dividend History
Dividend History Dividend Payout History 200% 180.00% Consistently 175% High Dividend 160.00% paying 150% company 126.00% 125% 114.75% 100% 95.33% 82.50% 82.50% Third Interim 75% dividend for Q3 FY26 of 50% ₹4.60 (46%) FY19 FY20 FY21 FY22 FY23 FY24 FY25 per share ▪ Dividend adjusted for Bonus in the
Slide 24: Shareholders Outlook
Shareholders Outlook Earnings per Promoter – Foreign MFs/ AIFs/ Share (EPS) - PFC Limited Institutions VCFs/ PFs 52.63% 16.46% 10.97% ₹49.07 for 9M FY26 Banks/ FIs/ Govt/ Non- Book Value per Insurance Govt PSUs Institutional Share (BVPS) - Cos 5.26% 0.05% 14.63% ₹327.60 for 9M FY26
Slide 25: ESG at REC
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Slide 26: ESG at REC Limited
ESG at REC Limited ESG Gap Top ESG Ratings REC ESG Policy Assessment in the Country Green Power for Formalized ESG GHG emission REC Net Zero Plan operations REC has secured the assessment across implementation by REC committed to Net 100% Green Power highest score (80/100) REC adopting board approve
Slide 27: REC's Contribution for Clean Energy Projects
REC’s Contribution for Clean Energy Projects Renewable Loan Book Renewable Loan Book ₹70,429 Grows >3.7x in 5 Years Crore as on 31.12.25 ₹ In Crore ₹ In Crore 90,000 70,429 80,000 Wind 11,366 57,994 70,000 60,000 38,971 50,000 27,095 Solar 40,000 Hybrid 28,835 18,824 5,530 30,000 20,000 E-Mobility S
Slide 28: ESG at REC Limited: REC's ESG Rating
ESG at REC REC’s ESG Rating Limited S. No. Rating Agency ESG Score of REC ESG Score Grading 80 (Leadership) 1 NSE Top amongst 505 Companies of 0 -100 || 100 being maximum India Negligible Risk: 0-10 || Low Risk: 10-20 || Morningstar 2 15.7 (Low Risk) Medium: 20-30 || High Risk: 30-40 || Severe Risk:
Slide 29: Highlights of ESG Performance
Highlights of ESG Performance Environmental Social Governance ~64 GW Total RE Capacity Zero Complaints on Human Rights & 100% Training on NGRBC and ESG to Sanctioned by REC POSH BoD & KMP 10,047 Training man days to Borrowers Zero Instances of Data Breaches as part of capacity building ₹70,429 Cr. R
Slide 30: 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 Annual Report: Investor Announcements: Recent reports relevant to power sector : https://recindia.nic.in/annual-r
Slide 31: REC
a REC ais al, area Endless energy infinite possiblties. AMAHARATNA COMPANY C6U,~_ (€)@) x) in) @RECLindia | & www.recindia.nic.in