REC (RECLTD) Q3 25/26 earnings summary

Executive summary

• Achieved highest ever 9M profit of ₹12,920 crore, up 13% year-over-year from ₹11,477 crore; Q3 FY26 standalone net profit was ₹4,043.08 crore and consolidated net profit was ₹4,052.44 crore.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were reviewed and approved by the Board on January 29, 2026.

• Third interim dividend of ₹4.60 per equity share declared for FY26, with payment by February 27, 2026; total dividend for 9M FY26 at ₹13.80 per share.

• Total income for 9M FY26 was ₹44,781 crore (standalone) and ₹45,045 crore (consolidated).

• Net credit impaired assets reduced to 0.20% from 0.74% year-over-year.

Financial highlights

• Standalone net profit for 9M FY26: ₹12,919.96 crore; consolidated: ₹12,933.08 crore.

• Standalone total income for 9M FY26: ₹44,780.92 crore; consolidated: ₹45,044.96 crore.

• Net interest income increased 10% year-over-year to ₹15,677 crore.

• Net worth increased 13% year-over-year to ₹86,262 crore (standalone); consolidated net worth at ₹87,013.69 crore.

• Capital adequacy ratio stood at 24.26% (Tier-1: 22.26%, Tier-II: 2.00%).

Outlook and guidance

• No material impact from the New Labour Codes, 2025, in the current period; company continues to monitor regulatory developments.

• No deviation in utilization of funds raised; all proceeds fully utilized as per stated objectives.

• Book value per share for 9M FY26 is ₹327.60; EPS at ₹49.07 (standalone), ₹49.12 (consolidated).