The 56th Annual General Meeting (AGM) of REC Limited, a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power, Government of India, was convened today at 11:00 A.M. through video conferencing. The meeting was chaired by Shri Jitendra Srivastava, Chairman & Managing Director (CMD), and attended by all Directors on the Board of the company. Shareholders from across the country joined the session virtually, reflecting both the inclusive nature of the event and the strong engagement between REC’s leadership and its stakeholders.
In his opening remarks, Shri Jitendra Srivastava extended a warm welcome to the shareholders and highlighted REC’s continued journey of growth and resilience. He noted that the year under review was marked by significant operational and financial achievements, positioning REC as a performance-driven public financial institution with a critical role in India’s energy transition.
Presenting the financial performance, the CMD reported that REC achieved record loan sanctions of ₹3,37,179 crore and disbursements of ₹1,91,185 crore, reflecting effective capital deployment in power and infrastructure projects. The company’s loan book registered an 11% year-on-year growth to ₹5.67 lakh crore, underscoring its expanding support to both traditional and emerging segments of the energy sector. Net worth increased by 13% to ₹77,638 crore, highlighting REC’s robust capital base and financial strength.
The financial year also recorded a 19% increase in total income to ₹55,980 crore, while net profit after tax rose by 12% to ₹15,713 crore. Shri Srivastava underlined that these results demonstrated REC’s ability to combine growth with strong risk governance and strategic engagement across power and infrastructure sectors. He emphasized that the company’s performance not only reinforced shareholder confidence but also showcased REC’s resilience in navigating a complex and evolving economic environment.
Highlighting REC’s vision, the CMD remarked, “At REC, our commitment goes beyond merely financing projects; we are dedicated to enabling the creation of a green, inclusive, and resilient energy ecosystem for India. ESG principles guide every decision we make, ensuring that sustainability is not an isolated objective but a core element of how we lead, invest, and impact the nation.”
In line with this commitment, the Board of Directors, along with the CMD, released REC’s second Sustainability Report during the AGM. This report, aligned with the Global Reporting Initiative (GRI) Universal Standards 2021, reflects REC’s Environmental, Social, and Governance (ESG) performance. It provides a transparent account of the company’s sustainability practices, from financing renewable energy projects to advancing inclusive growth and reducing carbon footprint.
The AGM also reflected REC’s growing role in supporting India’s clean energy transition. The CMD noted that REC is increasingly focusing on financing renewable energy projects, green corridors, smart metering, and energy efficiency initiatives. This aligns with the Government of India’s ambitious targets of achieving 500 GW of renewable energy capacity by 2030 and reaching net-zero emissions by 2070. REC’s financing is therefore not limited to conventional power projects but extends to emerging areas such as green hydrogen, battery storage, and cross-border power infrastructure.
Beyond its financial role, REC continues to contribute to nation-building through its Corporate Social Responsibility (CSR) initiatives. The company has been supporting rural electrification, healthcare, education, and skill development, thereby empowering communities across the country. Shri Srivastava emphasized that REC’s philosophy of inclusive growth extends beyond balance sheets and is rooted in a long-term vision of improving lives and livelihoods.
The shareholders actively participated in the proceedings, with several questions raised regarding REC’s financial strategy, diversification plans, and ESG initiatives. The management responded comprehensively, reiterating its focus on maintaining financial prudence while aligning with sustainability goals. Shareholders appreciated the company’s performance and conveyed their confidence in REC’s leadership and future roadmap.
Concluding the meeting, Shri Jitendra Srivastava expressed gratitude to the shareholders, employees, government authorities, and stakeholders for their trust and support. He reaffirmed REC’s commitment to delivering value while driving sustainable growth and contributing to India’s clean energy transformation.
The 56th AGM of REC Limited thus marked a significant milestone in the company’s journey, showcasing strong financial performance, strategic resilience, and an enhanced focus on sustainability. With a robust foundation and clear vision, REC is poised to play an even greater role in financing India’s power sector transformation and advancing the nation’s green energy goals.