REC Limited (RECLTD.NS)

457.00 +5.75 (+1.27%) At close: 03:30PM IST

REC Limited

Plot No. I-4, Sector 29
Near IFFCO Chowk Metro Station
Gurugram 122001
India
91 12 4444 1300
https://www.recindia.nic.in

Sector(s): Financial Services
Industry: Credit Services
Full-time employees: 417

Key executives

Name	Title	Pay	Exercised	Year born
Mr. Vivek Kumar Dewangan I.A.S.	Director of Finance, Chairman & MD	2.98M	N/A	1967
Mr. Jyoti Shubhra Amitabh	Executive Director of Law & Company Secretary	8.44M	N/A	1966
Mr. Vijay Kumar Singh	Director of Projects & Director	6.02M	N/A	1965
Mr. Hemant Kumar	Chief Compliance Officer	N/A	N/A	N/A
Mr. Rameswar Prasad Vaishnaw	Executive Director of Finance	2.72M	N/A	N/A
Ms. Taruna Gupta	Executive Director	N/A	N/A	N/A
Mr. Thangarajan Subash Chandra Bosh	Executive Director of Technical	N/A	N/A	N/A
Mr. Fuzail Ahmed	Executive Director of Technical	N/A	N/A	N/A
Mr. Rajesh Kumar	Executive Director of Finance & CEO of RECPDCL	N/A	N/A	N/A
Ms. Malathi Sundararajan	Chief Risk Officer & Executive Director of Finance	N/A	N/A	N/A

Amounts are as of 31 December 2023, and compensation values are for the last fiscal year ending on that date. Pay includes salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in INR.

Description

REC Limited, a public financial institution, provides financing services for power generation, transmission, and distribution projects in India. The company primarily offers long, medium, and short-terms loans; debt refinancing, equity financing, financing of equipment manufacturing (Em) for power sector and coal mines, policy for funding against regulatory assets, and revolving bill payment facility services. It also acts as a nodal agency for the implementation of Pradhan Mantri Sahaj Bijli Har Ghar Yojana, Deen Dayal Upadhyaya Gram Jyoti Yojana, and National Electricity Fund. In addition, the company acts as the bid process coordinator for selection of transmission service provider through tariff based competitive bidding process for independent inter-state and intra-state transmission projects; and provides implementation and consultancy services in power sector. It serves central/state government power utilities, as well as private sector power utilities. The company was formerly known as Rural Electrification Corporation Limited and changed its name to REC Limited in October 2018. REC Limited was incorporated in 1969 and is based in Gurugram, India. REC Limited operates as a subsidiary of Power Finance Corporation Limited.

Corporate governance

REC Limited’s ISS governance QualityScore as of 1 April 2024 is 5. The pillar scores are Audit: 7; Board: 5; Shareholder rights: 9; Compensation: 2.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while 10 indicates higher governance risk.