On Friday, an India-based infrastructure finance company issued a JPY 61.1 billion bond. The share price of the large-cap company increased by 0.8 percent to an intraday high of Rs 426.30 per share from its previous close of Rs 422.85.
According to the filing, REC Limited issued JPY 61.1 billion (approx INR 34,90,48,04,740 Cr) worth of bonds under its 10 billion USD Global Medium Term Note Programme.
The bonds have tenors of 5 years, 5.25 years, and 10 years and offer yields ranging from 1.76 percent to 2.20 percent. The bonds will be listed on NSE IFSe and India INX.
Looking at their financials, their Net revenue increased by 17 percent year on year, from Rs 9,956 crore in Q2FY23 to Rs 11,688 crore in Q2FY24. Their revenue rose by 5.4 percent sequentially from Rs 11,088 crore in Q1FY24 to the current levels.
In addition, the company’s net profit rose by 38 percent year on year, from Rs 2,732 crores in Q2FY23 to Rs 3,790 crores in Q2FY24. Their profit increased by 27 percent on a quarterly basis from Rs 2,968 crore in Q1FY24 to the current levels.
REC Ltd has a market capitalization of Rs 1,11,187 crores, a dividend yield of 2.9 percent, a return on equity of 9 percent, a return on capital employed of 20 percent, and a net profit margin of 28 percent.
REC Ltd is a multi-bagger; its share price has increased by 149 percent in the last six months and by 250 percent in the last year. For example, if an investor invested Rs 1 lakh, the current value would be Rs 3.5 lakh.
The promoter owns 52 percent of the company, the general public 14 percent, foreign institutional investors 20 percent, and a domestic institutional investor 13 percent.
REC Limited is an infrastructure finance firm based in India. The Company’s products are interest-bearing loans for all segments of power infrastructure to state electricity boards, state power utilities/state power departments, and the private sector.
Written by Sriram KV
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
