NEW DELHI : REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has received an ‘Excellent’ Memorandum of Understanding (MoU) rating for the financial year 2024–25, marking its third consecutive year with the top performance grade, the company said.
The rating was awarded by the Department of Public Enterprises (DPE) under the Ministry of Finance, based on performance parameters prescribed by the Government of India. The MoU for FY25 was signed with the company’s holding firm, Power Finance Corporation Ltd.
In addition, REC secured the fifth position in net profit performance among all Central Public Sector Enterprises (CPSEs), according to the Public Enterprise Survey Report for FY 2024–25 published by the DPE.
The MoU framework is a government-designed performance evaluation mechanism for CPSEs, focusing on measurable economic outcomes rather than effort-based metrics. The assessment benchmarks performance against past results, future projections, sectoral standards and the strategic vision of the administrative ministry.
REC said the evaluation reflected its strong financial performance, high asset quality, operational efficiency, market competitiveness and adherence to ethical corporate governance standards.
The Public Enterprise Survey, conducted annually by the DPE, captures a consolidated view of the financial and operational performance of CPSEs. In the FY25 survey, REC reported strong results across multiple financial indicators, reinforcing its sustained growth trajectory.
REC Limited, a leading non-banking financial company (NBFC) in the power sector, plays a key role in financing India’s power infrastructure. The company said the latest recognition further strengthens its position as a premier lender supporting the country’s energy development and long-term economic growth.
