REC Limited

NSE:RECLTD India Credit Services
Market Cap
$10.08 Billion
₹872.91 Billion INR
Market Cap Rank
#2950 Global
#81 in India
Share Price
₹331.50
Change (1 day)
-3.49%
52-Week Range
₹324.40 - ₹442.60
All Time High
₹637.07
Categories
Companies in India Credit Services Banking & Financial
About

REC Limited, together with its subsidiaries, engages in the provision of financing services for power generation, transmission, and distribution projects in India. The company primarily offers long, medium, and short-terms loans; debt refinancing, equity financing, financing of equipment manufacturing for power sector and coal mines; policy for funding against regulatory assets, and revolving bil… Read more

REC Limited (RECLTD) - Net Assets

Latest net assets as of September 2025: ₹829.22 Billion INR

Based on the latest financial reports, REC Limited (RECLTD) has net assets worth ₹829.22 Billion INR as of September 2025.

Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹6.40 Trillion) and total liabilities (₹5.57 Trillion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.

Key Net Assets Metrics

Metric Value
Current Net Assets ₹829.22 Billion
% of Total Assets 12.95%
Annual Growth Rate 16.37%
5-Year Change 79.09%
10-Year Change 171.26%
Growth Volatility 17.42

REC Limited - Net Assets Trend (2005–2025)

This chart illustrates how REC Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for REC Limited (2005–2025)

The table below shows the annual net assets of REC Limited from 2005 to 2025.

Year Net Assets Change
2025-03-31 ₹783.76 Billion +13.01%
2024-03-31 ₹693.50 Billion +19.32%
2023-03-31 ₹581.21 Billion +13.26%
2022-03-31 ₹513.14 Billion +17.25%
2021-03-31 ₹437.64 Billion +23.64%
2020-03-31 ₹353.96 Billion +2.46%
2019-03-31 ₹345.46 Billion -3.70%
2018-03-31 ₹358.72 Billion +6.54%
2017-03-31 ₹336.71 Billion +16.53%
2016-03-31 ₹288.93 Billion +15.24%
2015-03-31 ₹250.73 Billion +20.52%
2014-03-31 ₹208.03 Billion +18.67%
2013-03-31 ₹175.30 Billion +18.40%
2012-03-31 ₹148.06 Billion +15.42%
2011-03-31 ₹128.27 Billion +15.52%
2010-03-31 ₹111.04 Billion +79.30%
2009-03-31 ₹61.93 Billion +15.34%
2008-03-31 ₹53.69 Billion +38.09%
2007-03-31 ₹38.88 Billion +18.01%
2006-03-31 ₹32.95 Billion -12.81%
2005-03-31 ₹37.79 Billion --

Equity Component Analysis

This analysis shows how different components contribute to REC Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

  • Retained earnings have grown by 16067340000000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2025)

Component Amount Percentage
Retained Earnings ₹160.67 Billion 20.50%
Common Stock ₹26.33 Billion 3.36%
Other Comprehensive Income ₹575.40 Billion 73.41%
Other Components ₹21.36 Billion 2.73%
Total Equity ₹783.76 Billion 100.00%

REC Limited Competitors by Market Cap

The table below lists competitors of REC Limited ranked by their market capitalization.

Company Market Cap
Flughafen Zürich AG
PINK:UZAPF
 		$4.59 Billion
Hannon Armstrong Sustainable Infrastructure Capital Inc
NYSE:HASI
 		$4.59 Billion
HIMS+HERS HERS A DL-0001
F:82W
 		$4.59 Billion
Kanzhun Limited
F:8JN0
 		$4.60 Billion
Arkema S.A
PINK:ARKAF
 		$4.59 Billion
SHHGF
PINK:SHHGF
 		$4.58 Billion
Knife River Corporation
NYSE:KNF
 		$4.58 Billion
Warehouses De Pauw NV
PINK:WDPSF
 		$4.57 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in REC Limited's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2024 to 2025, total equity changed from 693,502,400,000 to 783,760,600,000, a change of 90,258,200,000 (13.0%).
  • Net income of 158,842,300,000 contributed positively to equity growth.
  • Dividend payments of 56,087,700,000 reduced retained earnings.
  • Other comprehensive income increased equity by 188,674,100,000.
  • Other factors decreased equity by 201,170,500,000.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income ₹158.84 Billion +20.27%
Dividends Paid ₹56.09 Billion -7.16%
Other Comprehensive Income ₹188.67 Billion +24.07%
Other Changes ₹-201.17 Billion -25.67%
Total Change ₹- 13.01%

Book Value vs Market Value Analysis

This analysis compares REC Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

  • Current price-to-book ratio: 1.12x
  • The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
  • The price-to-book ratio has decreased from 18.26x to 1.12x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2005-03-31 ₹18.15 ₹331.50 x
2006-03-31 ₹15.83 ₹331.50 x
2007-03-31 ₹18.68 ₹331.50 x
2008-03-31 ₹25.61 ₹331.50 x
2009-03-31 ₹27.05 ₹331.50 x
2010-03-31 ₹47.98 ₹331.50 x
2011-03-31 ₹48.71 ₹331.50 x
2012-03-31 ₹56.23 ₹331.50 x
2013-03-31 ₹66.57 ₹331.50 x
2014-03-31 ₹79.00 ₹331.50 x
2015-03-31 ₹95.22 ₹331.50 x
2016-03-31 ₹109.73 ₹331.50 x
2017-03-31 ₹127.87 ₹331.50 x
2018-03-31 ₹136.23 ₹331.50 x
2019-03-31 ₹131.19 ₹331.50 x
2020-03-31 ₹134.42 ₹331.50 x
2021-03-31 ₹166.20 ₹331.50 x
2022-03-31 ₹194.87 ₹331.50 x
2023-03-31 ₹220.72 ₹331.50 x
2024-03-31 ₹263.37 ₹331.50 x
2025-03-31 ₹297.04 ₹331.50 x

Capital Efficiency Dashboard

This dashboard shows how efficiently REC Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

  • Current Return on Equity (ROE): 20.27%
  • The company demonstrates strong efficiency in generating profits from shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 28.35%
  • • Asset Turnover: 0.09x
  • • Equity Multiplier: 7.84x
  • Recent ROE (20.27%) is above the historical average (19.30%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2005 20.68% 33.95% 0.09x 6.54x ₹4.04 Billion
2006 24.52% 39.25% 0.07x 9.02x ₹4.78 Billion
2007 19.93% 29.23% 0.07x 9.28x ₹3.86 Billion
2008 16.05% 25.51% 0.08x 7.99x ₹3.25 Billion
2009 20.56% 26.77% 0.09x 9.04x ₹6.54 Billion
2010 18.21% 30.88% 0.09x 6.27x ₹9.12 Billion
2011 20.15% 53.28% 0.06x 6.75x ₹13.02 Billion
2012 19.17% 27.46% 0.10x 7.35x ₹13.58 Billion
2013 21.86% 28.29% 0.10x 7.45x ₹20.80 Billion
2014 22.79% 28.06% 0.11x 7.35x ₹26.61 Billion
2015 21.32% 26.35% 0.11x 7.32x ₹28.37 Billion
2016 19.70% 24.30% 0.11x 7.16x ₹28.02 Billion
2017 18.75% 26.17% 0.11x 6.24x ₹29.46 Billion
2018 12.41% 20.30% 0.09x 6.93x ₹8.63 Billion
2019 16.62% 23.49% 0.08x 8.64x ₹22.87 Billion
2020 14.05% 18.06% 0.08x 9.80x ₹14.33 Billion
2021 19.14% 23.84% 0.09x 9.16x ₹40.02 Billion
2022 19.56% 26.12% 0.09x 8.01x ₹49.04 Billion
2023 19.21% 29.13% 0.08x 8.01x ₹53.55 Billion
2024 20.40% 29.98% 0.09x 7.90x ₹72.10 Billion
2025 20.27% 28.35% 0.09x 7.84x ₹80.47 Billion

Industry Comparison

This section compares REC Limited's net assets metrics with peer companies in the Credit Services industry.

Industry Context

  • Industry: Credit Services
  • Average net assets among peers: $3,621,595,776
  • Average return on equity (ROE) among peers: 14.36%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
REC Limited (RECLTD) ₹829.22 Billion 20.68% 6.72x $4.59 Billion
Akme Fintrade India Ltd (AFIL) $3.82 Billion 8.69% 0.77x $14.54 Million
Arman Financial Services Limited (ARMANFIN) $196.82 Million 15.55% 2.31x $97.80 Million
Baid Finserv Limited (BAIDFIN) $1.30 Billion 5.85% 1.62x $4.85 Million
Capital Trust Limited (CAPTRUST) $93.80 Million 16.46% 2.19x $586.90K
Capri Global Capital Limited (CGCL) $1.53 Billion 67.12% 0.54x $555.03 Million
Cholamandalam Financial Holdings Limited (CHOLAHLDNG) $8.02 Billion 8.68% 3.62x $1.74 Billion
Capital India Finance Limited (CIFL) $6.56 Billion -6.33% 1.73x $2.98K
CP Capital Limited (CPCAP) $5.46 Billion 6.99% 0.14x $4.60 Million
CREDITACCESS GRAMEEN LIMITED (CREDITACC) $6.91 Billion 10.89% 4.16x $724.43 Million
CSL Finance Limited (CSLFINANCE) $2.33 Billion 9.66% 0.43x $19.61 Million