This is a numbers-first look at Rural Electrification Corporation Ltd. (RECLTD), covering income trends, margins, valuation, and shareholding.
Rural Electrification Corp (REC) Revenue Trend
Rural Electrification Corporation Ltd. clocked ₹47,505 Cr in revenue for FY2024, up 20.3% from FY2023.
Over the past 10 years, revenue has grown at a healthy 10.7% CAGR, from ₹17,229 Cr to ₹47,505 Cr. That's solid, above-average growth.
With a top line of ₹47,505 Cr, Rural Electrification Corporation Ltd. operates at a major scale within the financial institution sector.
It's been 6 years of continuous revenue growth for Rural Electrification Corporation Ltd. — a pattern worth noting.
| Year | Revenue | YoY % |
|---|---|---|
| FY2024 | ₹47,505 Cr | +20.3% |
| FY2023 | ₹39,478 Cr | +0.5% |
| FY2022 | ₹39,269 Cr | +10.5% |
| FY2021 | ₹35,553 Cr | +18.8% |
| FY2020 | ₹29,930 Cr | — |
View Rural Electrification Corporation Ltd.'s full 10-year revenue trend with CAGR analysis →
Rural Electrification Corp (REC) Profitability
On the profitability front, Rural Electrification Corporation Ltd. did well — net income rose 26.7% to ₹14,145 Cr from ₹11,167 Cr a year earlier.
Net margin expanded to 29.8% in FY2024, up from 28.3% a year prior.
Earnings per share (diluted) were ₹53.59 in FY2024, up from ₹42.28.
Is Rural Electrification Corp (REC) Undervalued
Running the numbers through the P/E Ratio model gives a fair value of ₹346 for Rural Electrification Corporation Ltd..
Rural Electrification Corporation Ltd. shares are currently trading at ₹325.65.
Craytheon also calculates intrinsic value using the EPS Growth, P/B Ratio, and DDM models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | Upgrade | Upgrade |
| EPS Growth | Upgrade | Upgrade |
| P/B Ratio | ₹346 | 6.3% upside to fair value |
| DDM | Upgrade | Upgrade |
See all valuation models for Rural Electrification Corporation Ltd. with detailed assumptions →
Rural Electrification Corp (REC) Shareholding Pattern
Promoters continue to hold 52.6% of the company, unchanged over recent quarters.
FII ownership stands at 15.8%, down from the 19.2% recorded a year ago.
DII holding is at 16.4%, up from 15.5% in the year-ago quarter.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 52.6% | 15.8% | 16.4% | 15.2% |
| Dec 2025 | 52.6% | 16.5% | 16.2% | 14.6% |
| Sep 2025 | 52.6% | 18.0% | 15.9% | 13.5% |
| Jun 2025 | 52.6% | 19.2% | 15.5% | 12.7% |
Track quarterly shareholding changes for Rural Electrification Corporation Ltd. →
Rural Electrification Corp (REC) Balance Sheet
Proportional view as of 3 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2024 total assets: ₹5,481.91B (up 17.8% YoY from ₹4,655.03B).
Top categories: Other Assets (98.3%), Cash & ST Investments (1.5%), Property, Plant & Equipment (0.1%).
Of the ₹5,481.91B in liabilities and equity, 12.7% is shareholder equity, 79.9% is interest-bearing debt, and 7.4% is operating liabilities. Over the year, debt is up 17.1% and equity is up 19.3%.
Balance sheet composition — FY 2024
| Category | Value |
|---|---|
| Cash & ST Investments | 83.15B |
| Receivables | 1.54B |
| Property, Plant & Equipment | 6.55B |
| Investments | 202.00M |
| Intangibles & Goodwill | 5.20M |
| Other Assets | 5,390.47B |
| Category | Value |
|---|---|
| Equity | 693.50B |
| Short-term Debt | 4,381.55B |
| Trade Payables | 75.03B |
| Other Liabilities | 331.83B |
Rural Electrification Corp (REC) — The Bottom Line
To sum up Rural Electrification Corporation Ltd.'s financial position: the data paints a clear picture for investors evaluating this financial institution stock.
Revenue of ₹47,505 Cr in FY2024, up 20.3% year-over-year.
Long-term revenue has been compounding at 10.7% annually over 10 years.
The company is profitable, with a net margin of 29.8% and net income of ₹14,145 Cr.
The P/B Ratio model implies 6.3% upside to fair value from the current price. The remaining three models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
See the full picture — Craytheon tracks 10 years of financial data with interactive charts, growth trends, and four valuation models for Rural Electrification Corporation Ltd..