REC Limited has announced a change in its Board of Directors following the cessation of a nominee director's position. The company informed stock exchanges about this development through an official communication dated May 1, 2026.

Director Cessation Details

Shri Rajiv Ranjan Jha, who served as a Nominee Director on REC's Board, has ceased to be a Director effective May 1, 2026. The cessation follows his superannuation from Power Finance Corporation Limited (PFC) services on April 30, 2026.

Regulatory Compliance

The intimation was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. REC communicated this board change to both the National Stock Exchange of India Limited and BSE Limited simultaneously.

The official communication was signed by Dinesh Garg, Company Secretary and Compliance Officer of REC Limited, on May 1, 2026. The document reference number SEC-1/187(2)/2026/2819 was assigned to this regulatory filing.

Background Context

Jha's position on REC's Board was linked to his role at Power Finance Corporation Limited, which had nominated him as a director. His cessation from REC's Board directly correlates with his superannuation from PFC services, maintaining the alignment between his corporate responsibilities and board positions.

REC Limited has announced its audited financial results for the quarter and financial year ended March 31, 2026, reporting a decline in fourth-quarter profitability alongside annual growth. The Maharatna company's Board of Directors, which met on April 28, 2026, also recommended a final dividend of ₹1.55 per equity share.

Fourth Quarter Performance

For the three months ended March 31, 2026, REC reported standalone total income from operations of ₹14,386.01 crore, compared to ₹15,159.44 crore in the corresponding quarter of the previous year. The standalone net profit after tax for Q4 FY26 stood at ₹3,362.30 crore, representing a decline from ₹4,236.20 crore recorded in Q4 FY25. On a consolidated basis, net profit after tax for the quarter was ₹3,375.08 crore.

Annual Financial Results

For the full financial year ended March 31, 2026, REC achieved standalone total income of ₹59,139.96 crore, an increase from ₹55,911.12 crore in FY25. The annual standalone net profit after tax grew to ₹16,282.26 crore from ₹15,713.21 crore in the previous year. Consolidated net profit for FY26 reached ₹16,308.17 crore compared to ₹15,884.23 crore in FY25.

The company's net worth stood at ₹84,290.41 crore as of March 31, 2026, while outstanding debt capital was ₹5,05,777.41 crore. The debt-equity ratio was reported at 6.00 for the year ended March 31, 2026.

Dividend Declaration

The Board of Directors recommended a final dividend of ₹1.55 per equity share on a face value of ₹10 each, subject to shareholder approval at the upcoming Annual General Meeting. Including the proposed final dividend, the total dividend per share for the financial year 2025-26 amounts to ₹18.55 per equity share.

Regulatory Compliance

The audited financial results were reviewed by the Audit Committee and approved by the Board in their meeting held on April 28, 2026. These results have been audited by the Joint Statutory Auditors of the company. The company has filed newspaper clippings regarding the audited financial results with stock exchanges under Regulation 30 & 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, published in Business Standard (English and Hindi editions) dated April 29, 2026.