AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 22 Sep - Independent Directors Anil Kumar Gupta and Kanchiappan Ghayatbri Devi ceased on Sept 22, 2026 after three-month tenure.
Source: Bse
REC Limited (RECLTD)
Large CapFinancial Services stocks · Large cap · NSE
REC Limited operates in NBFC / Capital Markets, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 22 Oct, 05:50 pm ISTDetails
Quote22 Oct, 05:50 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result24 Jul, 11:11 pm IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
35Bearishfull bear SMA stack · SMA20 -4.1% / mo · MACD + · near 52W low
Stock trend: 26
Sector RS: 49
Sector 3M: -5.1% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
RECLTDD candles · FIT view-19.9%Latest close ₹301.10 on 2026-10-22
Bar
+0.0%
RSI
44
MACD hist
1.32
52W pos
15%
2026-10-22O ₹301.00H ₹302.80L ₹295.50C ₹301.10Vol 40.8L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
RECLTDNifty Financial ServicesNifty 500
- RECLTD
- -16.5%
- Nifty 500
- -6.2%
- Nifty Financial Services
- -5.8%
- Vs Nifty 500
- -10.3 pp
Chart stats
22 Oct 2026- From 52W high
- -22.5%
- 52W range position
- 15%
- ATR (14)
- 2.4%
- Volume vs 20D
- 0.50x
- Avg traded value
- ₹243 Cr
- 20D price channel
- ₹286.2 - ₹315
₹388.3
₹286.2 - ₹388.3
₹7.2
Latest completed session
20-session average
31.1% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · UNDERVALUED60
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -2.0% · PAT -6.1% YoY
Technical
Bearish35
Price trend and sector-relative-strength timing.
Valuation
Legacy model+80.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence58
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -2% YoY · PAT -6% YoY
Filed 24 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹14,435 Cr | -2.0% | -0.9% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹4,193 Cr | -6.1% | +24.2% |
| PAT margin | 29.1% | -125 bps | +588 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 5.11
- P/B
- 0.97
- EV/EBITDA
- 22122.15
- Market Cap
- 82014.00Cr
Profitability
- ROE
- 20.10%
- ROCE
- 9.71%
- ROA
- 2.50%
- Dividend Y
- 5.97%
Growth (CAGR)
- Revenue 5Y
- 11.00%
- EPS 5Y
- 14.00%
- Revenue 3Y
- 15.00%
- EPS 3Y
- 14.00%
Balance Sheet
- Debt/Equity
- 6.10
- Interest Coverage
- —
- Altman Z
- 0.32
- Book Value
- 321.00
Cash Flow
- FCF Yield
- 3.25%
- FCF Positive Y
- 2/5
- OCF
- 5972.00 Cr
- EPS TTM
- 60.90
Shareholding
- Promoter Hold
- 52.63%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 25%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 3.0-78.6% vs prev
Net Profit
₹ CrLatest: 16.3k+2.7% vs prev
Return on Equity
%Latest: 19.9-5.7% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 44.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~4.3% over last month) — short-term momentum negative.
- RSI(14) at 44 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 22% off 52W high · 5% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
24
RS percentile
Stage 4 Downtrend
1M return
-2.5%
3M return
-16.4%
6M return
-19.6%
1Y return
-21.5%
RS 1D
-1
RS 20D
+5
Sector rank
#10
Industry rank
#15
Stage evidence
- Price is 10.9% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.4%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 84.67+0.98%
RS vs Nifty 50085
Valuation & peers
U-Score 60 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 60 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · UNDERVALUEDValuation29/30
Growth15/25
Quality10/20
Balance Sheet1/15
Cash Flow4/10
Piotroski
4/9 (+1)
Penalties
0
Raw sum
60
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
60/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 3.3%.
- Fair-value margin of safety is positive at 80.6%.
- Valuation contributes 29/30 to the score.
Main drags
- Altman Z is 0.3, in distress territory.
- Balance sheet is weaker at 1/15; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
NBFC valuation: P/B, ROA, borrowing cost, and asset quality
Lenders can look optically cheap before credit losses emerge, so valuation is tied to book quality.
Primary lens
P/B adjusted for ROA/ROE and leverage quality.
Secondary checks
AUM growth, spreads, credit cost, liquidity and ALM risk.
Main risk check
Fast growth with weak asset quality deserves a discount.
PE
5.1
PB
1.0
EV/EBITDA
22122.2
ROE
20.1%
ROCE
9.7%
FCF Yield
3.3%
Debt/Equity
6.1
MoS
+80.6%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 22 Oct 2026
v4.3-runtime-valuation
Final score
60
Previous: 60
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+80.6%
Previous: +80.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
61
61
61
60
60
60
60
60
60
60
60
60
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹663.21
+54.6% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹1,552.95
+80.6% MoS
PEG
0.37
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
NIACL
Large
The New India Assurance Company Limited
NBFC / Capital Markets / Insurance
match 154
16
39.8
4.9%
-514%
OVERVALUED
SUNDARMFIN
Large
Sundaram Finance Limited
NBFC / Capital Markets / Insurance
match 129
29
20.8
15.0%
+33%
OVERVALUED
HDFCAMC
Large
HDFC Asset Management Company Limited
NBFC / Capital Markets / Insurance
match 129
55
34.6
32.9%
-38%
FAIR VALUE
CHOLAFIN
Large
Cholamandalam Investment and Finance Company Limited
NBFC / Capital Markets / Insurance
match 127
33
23.2
19.4%
+12%
WATCHLIST
LTF
Mid
L&T Finance Limited
NBFC / Capital Markets / Insurance
match 126
35
18.4
11.2%
+30%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
REC Limited operates in NBFC / Capital Markets, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
58Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 22nd percentile of the scored universe and 38th percentile within Financial Services. Main check: balance sheet trust is weak at 22/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 22 Oct 2026
management-trust-v1
46 docs text-extracted · 33 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
22nd percentile
overall median 67 · Financial Services: 38th pctile, median 62 · Large: 13th pctile, median 73
Evidence depth
Financial-only
46 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
65
acceptable · profit to cash conversion
Balance sheet
22
weak · leverage and solvency
Discipline
76
strong · capital discipline
Results
41
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 3.3%.
Trust risks
- ▸Debt/equity is 6.10.
- ▸Altman Z is 0.32.
- ▸1/4 latest quarters had positive YoY PAT growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching REC Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s 8 Sep - C&AG appoints G. S. Mathur & Co. and S. K. Mehta & Co. as FY27 statutory auditors.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 31 Jul - Newspaper Publication in respect of Notice of 57th Annual General Meeting & e-voting information.
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.