REC has fairly spread its loan exposure to avoid concentration of risks to a few borrowers. Some 10 state-owned utilities account for nearly 37 per cent of total loan amount owed to the company as at the end of June. Moreover, no single borrower accounts for more than 7 per cent of REC’s loan book.
Maharashtra utilities are REC’s biggest borrowers, with Maharashtra State Power Distribution Company and Maharashtra State Electricity Distribution Company between them owing Rs 23, 441 crore, or 11.28 per cent of loan book, to the state-owned non-banking finance company.
Rajasthan Rajya Utpadan Nigam owes Rs 8,725 crore (4.2 per cent) to REC, Tangedco Rs 7,453 crore (3.59 per cent) and Uttar Pradesh Power Transmission Corporation Rs 7,149 crore (3.44 per cent).
REC’s outstanding loan to Nabinagar power Generating Company amounts to Rs 7,038 crore (3.39 per cent).
Tamil Nadu Transmission Corporation, Uttar Pradesh Rajya Vidyut Utpadan Nigam and APSPDCL owe Rs 6,443 crore (3.1 per cent), Rs 5,758 crore (2.77 per cent) and Rs 5,587 crore (2.69 per cent) respectively.
Outstanding loan amount due from NTPC Tamil Nadu Energy Company to REC is Rs 5,318 crore (2.56 per cent).