REC Limited conducted its 56th Annual General Meeting (AGM) today through video conferencing, chaired by Jitendra Srivastava, Chairman & Managing Director. The meeting highlighted the company’s record operational and financial performance during the year, along with its strong focus on sustainability and ESG-led initiatives.

Jitendra Srivastava, Chairman & Managing Director, in his address noted that REC achieved significant milestones during the year, strengthening its position as a performance-driven public financial institution. Loan sanctions stood at Rs 3.37 trillion, with disbursements of Rs 1.91 trillion, showcasing effective capital deployment in power and infrastructure. The loan book registered an 11 per cent year-on-year growth to Rs 5.67 trillion, while net worth rose 13 per cent to Rs 776.38 billion. Total income increased 19 per cent to Rs 559.80 billion, and net profit after tax grew 12 per cent to Rs 157.13 billion.

He emphasised that REC’s commitment extends beyond financing projects to building a green, inclusive, and resilient energy ecosystem for India. He added that ESG principles are embedded into REC’s decision-making, ensuring sustainability is a core element of its strategy and operations.

The AGM was attended by shareholders through video conferencing. With the requisite quorum in place, the Chairman called the meeting to order and delivered his speech. On this occasion, the Chairman and Board of Directors also released REC’s second Sustainability Report, aligned with the Global Reporting Initiative (GRI) Universal Standards 2021, which outlines the company’s Environmental, Social, and Governance (ESG) performance.