Guidance ledger · Q2 FY26

REC Ltd RECLTD

3 revisions on record · 0 lowered · 0 raised — the strikethrough is what management used to say

directional guidance only · held across quarters

Holding view → · latest concall · The pulse

↔ widened Loan book growth guidance Q1 FY26 → Q2 FY26

~~12% point guidance (Q1FY26)~~ → 11% to 12% range (Q2FY26)

“we are confident of getting 11% to 12% loan growth in the coming years.”

↔ widened Spread guidance upper band Q1 FY26 → Q2 FY26

~~2.75% to 3% (Q1FY26)~~ → 2.75% to 3.5% (Q2FY26)

“we would be able to maintain our NIM between 3.5% to 3.75% and a spread between 2.75% to 3.5%.”

→ narrowed Net Zero NPA achievement timeline Q1 FY26 → Q2 FY26

~~By FY26 year-end (Q1FY26 generic)~~ → By Q4FY26 specifically (Sinnar/Hiranmaye at advanced stage)

“we are in the process of becoming a net zero company by the Financial Year '26, so we expect that these main assets, that is Sinnar and the Hiranmaye, these will be resolved by the year, by Q4.”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.