While the rest of the NBFC world fights over fintech crumbs, REC walks in with a ₹8,877 crore half-year profit — and not a hair out of place. It’s like watching a monk count money in a monastery — serene, methodical, unstoppable. The company’s CMD sounds more like a macroeconomist than a bureaucrat, forecasting ₹10 lakh crore loan book by 2030 with the calm of someone holding a government guarantee in one hand and a dividend cheque in the other.
As the Bhagavad Gita says: “He who does his duty without attachment attains the Supreme.” REC seems to be doing just that — funding half the nation’s electrons without breaking a sweat. Read on — the numbers get electric ⚡.
2. At a Glance
Total Income ₹29,828 Cr (+12%) – Money flows like current through copper wires.
PAT ₹8,877 Cr (+19%) – Profits so large, they deserve a transformer.
Loan Book ₹5.82 Lakh Cr (+7%) – Because apparently, everyone needs power.
Gross NPA 1.06%, Net 0.24% – Cleaner than your conscience after Diwali puja.
Disbursements ₹1.15 Lakh Cr (+27%) – “Highest ever” — they said it thrice.
Dividend ₹9.2/share (Half-Year) – Shareholders now glowing brighter than streetlights.
3. Management’s Key Commentary
CMD Jitendra Srivastava: “Our Stage-2 assets reduced by 52%, thanks to Kaleshwaram repayment.” (Translation: We didn’t lose money — they actually paid us back. Miracles happen! 😏)
Harsh Baweja (CFO): “Cost of funds up slightly due to risk mitigation on foreign borrowings.” (Translation: We paid extra for insurance — RBI can sleep peacefully.)
Srivastava: “By 2030, we’ll have ₹10 lakh crore loan book; 30% from renewables.” (Translation: We’re going green, but in rupees.)
Baweja: “99% of our foreign loans are hedged.” (Translation: The rupee can fall, dance, or faint — we’re fine.)
Srivastava: “Privatization of DISCOMs? Bring it on.” (Translation: Dear Tata, yes, we’ll lend to you too. 😂)
Baweja: “We’re hedged beyond ₹100/USD.” (Translation: If the rupee collapses, we’ll still show up smiling in the concall.)
Srivastava: “We fund good projects, not just governments.” (Translation: We love profit more than bureaucracy now.)
