New Delhi, 6th February 2025 — REC Limited’s Board of Directors, in a crucial meeting held on February 6, 2025, announced a series of major decisions that signal new growth opportunities for the company and its investors. From interim dividends to a new joint venture in the renewable energy sector, the announcements have set the stage for REC’s next phase of expansion.
Here are the key takeaways from the meeting:
1. Strong Financial Results
REC approved its standalone and consolidated unaudited financial results for the quarter ended December 31, 2024. The results were reviewed by the Audit Committee and audited by Kailash Chand Jain & Co. and SCV & Co. LLP, reflecting the company’s stable financial performance.
2. ₹4.30 Interim Dividend Declared
In great news for shareholders, the Board declared a third interim dividend of ₹4.30 per equity share for FY 2024-25. The record date is February 14, 2025, and the dividend will be paid by March 6, 2025.
3. Game-Changing Joint Venture
REC Power Development and Consultancy Limited, a wholly owned subsidiary of REC, will form a 50:50 joint venture with Mahagenco Renewable Energy Limited. This partnership aims to develop renewable energy and power projects, marking REC’s strategic entry into a high-growth sector.
With these bold steps, REC Limited is strengthening its position in the energy sector and creating exciting possibilities for investors.
Will REC’s latest moves lead to its next big growth chapter?