NSE/RECLTD

RECLTDREC Ltd

Financial Services · NSE

₹373.3+2.50%

52-wk low52-WEEK RANGE52-wk high

₹305.1+22.4% from low ·-15.7% from high₹442.6

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

RECLTD-4.15% · 1Y

Range high ₹448Range low ₹304.05Latest ₹373.3252 bars · daily-close · NSE bhavcopy + 10Y history

Financial ServicesCredit ServicesLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite50/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return -15.7% — underperformer
· Just above 200-DMA (+5.3%)

Valuation

Low

Appears to be fairly valued to cheap vs peers.

· P/E 5.9 vs sector median 18.5 — 68% cheaper
· P/B 1.21 below sector median 2.13

Growth

Low

Lagging the market in growth.

· Revenue YoY +2.3% — slow
· Profit YoY -0.6% — earnings slipping

Profitability

High

Showing good signs of profitability & efficiency.

· ROE 21.5% — high-quality compounder
· Net margin 73.1% — strong pricing power

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeB(71/100)

Durability

56/100

Reasonable financial health; watch the weaker inputs.

Show 3 drivers

Piotroski F-score6/8 (75pt)
Debt/Equity6.66 (0pt)
ROE21.5% (86pt)

Valuation

A+

100/100

Attractively valued vs peers and growth — good margin of safety.

Show 3 drivers

P/E vs sector (5.9 / 18.5)32% (100pt)
P/B1.21 (100pt)
Dividend yield6.21% (100pt)

Momentum

57/100

Constructive setup — momentum building, not extended.

Show 5 drivers

52w change-15.7% (25pt)
DMA-trend alignmentup (75pt)
RSI (14)67.3 (88pt)
Price vs 200-DMA+2.0% (50pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)5.86

UNDERVALUED

CheapestP/E 5.9 at 3th %ile of sector — cheaper than 97% of peers.Most expensive

P/B1.21

UNDERVALUED

CheapestP/B 1.21 at 21th %ile of sector.Most expensive

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Jul +5.80% · Worst: Feb -6.50%

Jan

+1.9%

64% win

Feb

-6.5%

33% win

Mar

+0.2%

58% win

Apr

+5.8%

67% win

May

-1.8%

27% win

Jun

+3.1%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+1.37%

Median

+0.54%

Std dev

10.60%

Best

+23.3%

Worst

-24.7%

% positive

55%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 3

High-quality compounder (ROE 21.5%)
Above 20% ROE consistently flags capital-efficient businesses
Strong net margin (73.1%)
High margin indicates pricing power + operating efficiency
Top quartile ROE in Financial Services
Rank 6 of 58 peers

WEAKNESSES · 1

Leveraged balance sheet (D/E 6.66)
High debt amplifies earnings volatility in downturns

OPPORTUNITIES · 2

18% upside to consensus target (₹450)
13 analysts see fair value materially higher
Attractive income yield (6.21%)
Payout ratio 30% leaves room for dividend growth

THREATS · 1

Net debt is 524% of market cap
Financing costs become material in rising-rate regimes

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+2.5%

+6.7%

+12.6%

+0.5%

-1.1%

-5.7%

+45.2%

+26.9%

10Y

+17.4%

Fundamentals

VALUATION

Market cap

₹1,00,773 Cr

P/E (TTM)

5.9

P/E (fwd)

5.7

next 12m

P/B

1.21

EV/EBITDA

—

Book value

₹317.10

per share

PROFITABILITY · QUALITY

ROE

21.5%

ROCE

—

Net margin

73.1%

Op margin

95.8%

Gross margin

98.8%

D/E

6.66

GROWTH · MARKET

Rev YoY

+2.3%

Profit YoY

-0.6%

Div yield

6.21%

Payout

30.1%

52w change

-15.7%

Beta

0.33

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 5

+Trading at -68.4% vs sector median P/EP/E 5.9 vs Financial Services median 18.5 — relative value on earnings
+High ROE of 21.5%Capital-efficient business — every rupee of equity generates 21.5 paise of earnings
+Strong operating margin (95.8%)Meaningful pricing power or cost discipline — above most Indian companies
+High dividend yield (6.21%)Meaningful income return even before price appreciation
++18% upside to analyst consensus target13 analysts average target of ₹450 vs current ₹383

CONS · 1

−Leveraged balance sheet (D/E 6.66)High debt amplifies earnings volatility and refinancing risk

Sector-relative context

Financial Services · 58 peers

P/E (TTM)

This stock

5.86

Sector median

18.51

Rank 2/58 (98th %ile)

ROE

This stock

21.5%

Sector median

13.6%

Rank 53/58 (10th %ile)

P/B

This stock

1.21

Sector median

2.13

Rank 12/58 (81th %ile)

Quality score · Piotroski F-score

6 / 8

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✗Positive operating cash flow· Profits are backed by real cash, not accruals
✗Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
—Operating margin expanded YoY· Pricing power or cost discipline
✓

Analyst consensus

13 analysts · STRONG_BUY

Target mean

₹450.00

Target high

₹500.00

Target low

₹380.00

Upside vs today

+17.6%

Street consensus target is +17.6% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Credit Services

Shares out

263.3

Revenue (TTM)

₹23,885 Cr

Total debt

₹5,56,055 Cr

Cash

₹27,817 Cr

Net debt

₹5,28,239 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	5,116	5,356	6,477	5,197	5,446
Interest	8,506	8,837	8,766	8,934	9,243
Depreciation	6	6	6	—	—
PBT	5,097	5,181

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	16,369	14,601	17,241	21,900
Interest	22,051	23,733	29,948	34,131
Depreciation	15	22	23	24
PBT	12,431	13,898	17,960	20,117
Tax %

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
RECLTDTHIS REC Limited	₹373.3	-15.7%	1,00,773	5.9	1.21	21.5%	6.66	+2.3%
HDFCBANK HDFC Bank Limited	₹799.9	-58.5%	12,24,457	17.8	2.17	13.8%	—	-1.8%
SBIN State Bank of India	₹1,080.25	+32.3%	10,22,614	12.1	1.73	14.3%	—	+14.5%
ICICIBANK ICICI Bank Limited	₹1,346.8	-4.5%	9,71,609	18.5	2.78	16.4%	—	+66.9%
BAJFINANCE Bajaj Finance Limited	₹908.25	-90.2%	5,70,505	31.7	5.52	17.4%	3.10	+6.4%
AXISBANK Axis Bank Limited	₹1,359.1	+11.1%	4,21,100	16.1	2.03	13.6%	—	+5.7%
KOTAKBANK Kotak Mahindra Bank Limited	₹383.6	-82.9%	3,77,170	20.1	2.24	11.2%	—	+24.2%
BAJAJFINSV Bajaj Finserv Limited	₹1,838.9	-12.6%	2,92,438	30.5	3.81	12.5%	2.38	+24.8%
SHRIRAMFIN Shriram Finance Limited	₹1,036.95	+47.5%	2,45,891	21.5	3.24	15.1%	2.79	+21.4%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	16.28	15.35	-5.7%
-2q	15.91	16.81	+5.7%
-3q	14.99	16.90	+12.7%
-4q	16.40	15.97	-2.6%

Date	Amount
2026-03-20	₹3.20
2026-02-06	₹4.60
2025-10-27	₹4.60
2025-08-14	₹2.60
2025-08-01	₹4.60
2025-03-26	₹3.60
2025-02-14	₹4.30
2024-11-08	₹4.00
2024-08-09	₹3.50
2024-06-28	₹5.00
2024-03-28	₹4.50
2023-11-13	₹3.50
2023-08-14	₹3.00
2023-07-14	₹4.35
2023-02-09	₹3.25
2022-11-07	₹5.00
2022-07-12	₹3.60
2022-02-15	₹4.50
2021-11-11	₹1.88
2021-09-16	₹1.28

Date	Ratio
2022-08-17	4:3
2016-09-28	2:1

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	1,975	2,633	2,633	2,633
Reserves	7,186	10,314	13,873	16,067
Borrowings	3,33,043	3,80,790	4,45,568	4,96,243
Total liabilities	4,10,860	4,65,503	5,48,191	6,14,502
Fixed assets	638	649	655	702
CWIP	14	10	24	76
Investments	7,701	12,152	17,834	24,106
Total assets	4,10,860	4,65,503	5,48,191	6,14,502

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	-819	-37,360	-57,723	-39,064
CF Investing	-287	-943	-1,831	-1,302
CF Financing	68	38,123	59,588	40,034
Net cash flow	-1,038	-180	34	-333
Free cash flow	-867	-37,377	-57,756	-39,147

Metric	2025-FY	2024-FY	2023-FY	2022-FY
Net margin %	72.5%	82.0%	76.5%	61.3%
ROE %	90.2%	96.1%	101.0%	109.5%
ROCE %	11.1%	11.2%	10.2%	10.1%
Debt / Equity	26.54	26.99	29.41	36.35
Dividend payout %	34%	29%	28%	24%
Interest coverage	1.6×	1.6×	1.6×	1.6×
Revenue growth YoY	+27.0%	+18.1%	-10.8%	—
Profit growth YoY	+12.3%	+26.7%	+11.3%	—

RECLTDREC Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Financial Services

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Stock scorecard

Recent news

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Financial Services