REC Limited Holds 56th Annual General Meeting, Reports Strong Growth in Loan Sanctions and Profits

Gurugram, Aug 27: REC Limited, a public sector financial company under the Ministry of Power, held its 56th Annual General Meeting (AGM) today through video conferencing.

In a statement issued to Kashmir Convener, an official spokesperson said the meeting began at 11:00 a.m. and was chaired by Shri Jitendra Srivastava, Chairman and Managing Director (CMD) of the company. All directors of the Board were present, and a large number of shareholders also joined the proceedings online.

In his address, the CMD highlighted that REC achieved record performance in the financial year under review. Loan sanctions during the year stood at ₹3,37,179 crore, while disbursements amounted to ₹1,91,185 crore. The company’s loan book grew by 11 percent year-on-year to ₹5.67 lakh crore, and its net worth increased by 13 percent to ₹77,638 crore. REC’s total income rose by 19 percent to ₹55,980 crore, while profit after tax grew 12 percent to ₹15,713 crore. According to the CMD, these results reflected efficient capital deployment, risk governance, and expanding operations across the power and infrastructure sectors.

The CMD also said REC’s role goes beyond financing projects. He underlined the company’s commitment to supporting a green, inclusive, and resilient energy system for the country. All key business decisions, he said, are guided by Environmental, Social and Governance (ESG) principles to ensure sustainability remains a central objective.

On the occasion, the CMD and the Board of Directors released REC’s second Sustainability Report. The report, prepared in line with the Global Reporting Initiative (GRI) Universal Standards 2021, provides details of the company’s ESG performance, outlining measures taken to integrate sustainability in its business practices.

The meeting also took note of the participation of shareholders and their queries, which were addressed by the management.