REC Ltd (REC), a subsidiary of Power Finance Corp Ltd, is a financial company. It provides financial assistance to state power utilities for generation, transmission or distribution. The company also offers financial products such as short term loans, medium term loans, debt refinancing, equity financing and long term loans for the development of various segments of power infrastructure, transmission and power distribution. It provides both conventional and renewable energy for the power sector. The company caters its services to private sector project developers, state power utilities, central power sector utilities and state governments. REC is headquartered in Gurgaon, Haryana, India.
Headquarters
India
Address
Core- 4, Scope Complex, 7, Lodhi Road, Gurgaon, Haryana, 122001
Website
www.recindia.nic.in/home
Telephone
91 124 4441300
No of Employees
419
Industry
Financial Services
Ticker Symbol & Exchange
RECLTD (NSE)
Revenue (2022)
$5.0B
1.4%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
11.3%
(2022 vs 2021)
Market Cap*
$13.5B
Net Profit Margin (2022)
XYZ
9.7%
(2022 vs 2021)
* As of and is in US$
REC Ltd premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Long Term Loans | Debt Refinancing Services |
| Medium Term Loans | Equity Financing Services |
| Short Term Loans | Financial Assistance and Services for Power Projects, Private Sector Project Developers, Central Power Sector Utilities and State Governments |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | New Products/Services | In March, the company introduced the Alpha Pure-2 Series. |
| 2024 | Contracts/Agreements | In March, the company signed a memorandum of understanding with the Government of Rajasthan to fund the projects across power and non-power infrastructure sectors. |
| 2024 | Contracts/Agreements | In January, the company and the National Investment and Infrastructure Fund signed a memorandum of understanding to cooperate on a suite of funding solutions for Renewable Energy Projects. |
Competitor Comparison
| Key Parameters | REC Ltd | Bajaj Finance Ltd | Shriram Finance Ltd | Housing and Urban Development Corporation Ltd | SREI Infrastructure Finance Ltd |
|---|---|---|---|---|---|
| Headquarters | India | India | India | India | India |
| City | Gurgaon | Pune | Mumbai | New Delhi | Kolkata |
| State/Province | Haryana | Maharashtra | Maharashtra | Delhi | West Bengal |
| No. of Employees | 419 | 43,147 | 64,052 | 673 | 20 |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Vivek Kumar Dewangan | Managing Director; Director - Finance; Chairman | Executive Board | 2022 | - |
| Vijay Kumar Singh | Director - Technical | Executive Board | 2022 | 58 |
| Swati Gupta | Director | Executive Board | 2023 | - |
| Vijay Kumar | Chief Risk Officer | Senior Management | - | - |
| Hitesh L. Marthak | Secretary; Compliance Officer | Senior Management | 2023 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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