MarketFriction

Religare Enterprises Ltd

NSE RELIGARE · BSE 532915 · Investment Company
₹224.59 -1.89%
NSE close2026-10-01
52 week range196.51 - 280.00
Market cap₹8,000 Cr.
P/E161
Microcap 250 Price band 20% Delivery 57.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,5841,5111,8561,7101,9521,6682,0421,8612,0772,0562,4672,353
Expenses1,4831,4551,8331,6531,8761,7301,8051,8462,0102,1512,3252,402
Operating Profit10156235776-612371567-95143-49
OPM %6%3.7%1.2%3.3%3.9%-3.7%12%0.8%3.2%-4.6%6%-2.1%
Other Income1272495192810121265
Interest25241813135671091015
Depreciation181817161514171312111218
Profit before tax59412363367-79222657-103127-77
Tax %32%18%23%18%-2%-20%32%-42%20%-26%25%-39%
Net Profit40341812769-63151846-7796-47
EPS in Rs0.780.593.800.551.55-1.302.980.311.17-1.362.47-0.77
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,8953,7092,6752,3712,3842,5133,2274,6796,2667,3948,4628,954
Expenses3,7101,6592,8413,0052,3412,2353,5924,1965,8987,0378,3068,888
Operating Profit1,1842,050-167-63443278-36448336835615666
OPM %24%55%-6%-27%1.8%11%-11%10%6%4.8%1.8%0.7%
Other Income1,012-3166010-157171373,473263123235
Interest1,8791,8401,271854855733750641112635343
Depreciation363130266159535672624752
Profit before tax282-136-1,407-1,504-1,030-497-1,0313,259448243875
Tax %79%-10%-16%-0%1%-4%49%3%22%25%16%
Net Profit61-124-1,181-1,501-1,038-478-1,5393,1693471837318
EPS in Rs-2.67-9.77-58.56-59.33-36.12-19.60-48.4395.247.063.772.581.51
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth6%27%22%19%
Compounded Profit Growth12%17%71%-58%
Stock Price CAGR-2%5%-1%-8%
Return on Equity%%4%3%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital178178178178217258259319324330331333
Reserves3,7053,6602,5491,658616-157-306-1,3011,7342,0132,1852,575
Borrowings16,49120,24714,9569,9456,7175,3564,9404,878841443233493
Other Liabilities5,0643,3443,3552,0812,0232,6733,8325,4675,1936,6868,43211,104
Total Liabilities25,43927,42921,03813,8629,5738,1308,7259,3628,0929,47211,18014,506
Fixed Assets2,1281,7851038083175117127196161145133
CWIP44121114131225683
Investments4,3632,7001,9831,1971,4382,0233,1903,8365,0946,7188,70011,203
Other Assets18,94422,94118,94012,5748,0385,9195,4065,3972,7972,5872,3273,166
Total Assets25,43927,42921,03813,8629,5738,1308,7259,3628,0929,47211,18014,506
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-706-2,1545,8715,8023,5552,4331,3731,5961,5061,5001,5231,820
Cash from Investing Activity-6124992,149-457-31-436-1,181-689-939-1,348-1,185-2,176
Cash from Financing Activity1,0941,853-7,696-6,455-3,819-1,743-314559-2,079-156-285690
Net Cash Flow-224198324-1,110-295254-1221,466-1,512-453334
Free Cash Flow-732-2,2025,8475,7763,5222,4101,3551,5571,4661,4791,4991,809
CFO/OP-30%-173%287%-3,525%-565%5,635%497%-438%312%407%439%1,183%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days523560425314282114845
Inventory Days
Days Payable
Cash Conversion Cycle523560425314282114845
Working Capital Days-326-257-187-250-224-267-264-387-275-291-331-395
ROCE %11%9%10%-1%-7%-0%4%-6%16%9%8%4%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters0.00%0.00%0.00%0.00%0.00%0.00%25.67%25.83%25.83%26.27%30.27%30.55%
FIIs11.75%9.89%7.91%8.49%8.01%8.05%8.25%8.10%7.81%7.61%7.85%9.64%
DIIs7.84%7.75%8.17%10.99%13.43%13.14%11.76%11.62%10.27%9.33%8.52%9.33%
Public80.41%82.36%83.92%80.51%78.56%78.82%54.32%54.45%56.11%56.79%53.36%50.49%
No. of Shareholders61,53569,31184,52783,05079,94680,23674,21374,05885,87381,95973,41169,935

Fundamentals

Market Cap₹ 8,000 Cr.
Current Price₹ 232
Stock P/E161
Book Value₹ 87.4
ROCE3.50 %
ROE3.18 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)19%
Compounded Profit Growth (TTM)-58%
Consolidated figures.
Valuation
Market capRs 7,476 Cr
Enterprise valueRs 6,267 Cr
P/E (TTM)150.89x
Price to book2.57x
Price to sales0.83x
EV / EBITDA62.36x
EV / EBIT129.78x
EV / sales0.70x
Price to cash flow4.11x
Earnings yield0.66%
P/E, 3-year average56.75x
P/B, 3-year average2.78x
P/E, 5-year average42.95x
P/B, 5-year average1.28x
Profitability
Operating margin (excl. other income)1.84%
Operating margin (incl. other income)2.21%
EBITDA margin1.12%
Pre-tax margin0.05%
Net profit margin0.55%
Net margin, latest quarter-1.11%
ROE3.17%
ROCE4.56%
ROA0.67%
ROE, 3-year average6.29%
ROCE, 3-year average11.77%
ROA, 3-year average1.51%
ROE, 5-year average178.39%
ROCE, 5-year average28.74%
ROA, 5-year average4.55%
ROIC (approx.)2.38%
Tax rate16.16%
Other income / net worth1.09%
Growth
Sales growth (latest year)14.44%
Profit growth (latest year)-31.02%
Sales CAGR, 3 years21.83%
Sales CAGR, 5 years27.48%
Profit CAGR, 3 years-69.67%
Sales growth QoQ-4.62%
Profit growth QoQ-131.85%
Sales growth YoY (latest quarter)26.43%
Profit growth YoY (latest quarter)-356.16%
Per share
EPS (TTM)Rs 1.49
EPS (latest year)Rs 2.58
EPS (latest quarter)Rs -0.79
EPS, 3-year averageRs 4.47
EPS, 5-year averageRs 12.05
Book value per shareRs 87.36
Sales per shareRs 268.97
Cash flow per shareRs 54.67
Free cash flow per shareRs 54.34
Efficiency
Asset turnover0.58x
Fixed asset turnover63.81x
Inventory turnover727.99x
Inventory days1 days
Debtor days5 days
Debtors turnover71.19x
Cash conversion cycle5 days
Working capital days-395 days
Leverage
Total debtRs 493 Cr
Cash and bankRs 1,703 Cr
Net debtRs -1,209 Cr
Debt to equity0.17x
Net debt / EBITDA-12.03x
Interest coverage1.11x
Owners' fund to total sources20.05%
Debt to assets3.40%
Cash flow
Cash from Operating Activity (latest year)Rs 1,820 Cr
Cash from Investing Activity (latest year)Rs -2,176 Cr
Cash from Financing Activity (latest year)Rs 690 Cr
Net Cash Flow (latest year)Rs 334 Cr
Free cash flow (latest year)Rs 1,809 Cr
FCFE (approx.: FCF + change in debt)Rs 2,069 Cr
Cash from ops / profit, 5 years3.56x
Sales to cash flow4.65x
Statement figures
Net sales (TTM)Rs 8,954 Cr
Net sales (latest year)Rs 8,462 Cr
Sales (latest quarter)Rs 2,353 Cr
Operating profit excl. other income (latest year)Rs 156 Cr
Operating profit (latest quarter)Rs -49 Cr
Other income (TTM)Rs 35 Cr
EBITDA (TTM)Rs 100 Cr
PBDT (TTM)Rs 57 Cr
Profit before tax (TTM)Rs 5 Cr
Tax (latest year)Rs 14 Cr
Net profit (TTM)Rs 50 Cr
Net profit (latest year)Rs 86 Cr
Net profit (latest quarter)Rs -26 Cr
Depreciation (TTM)Rs 52 Cr
Depreciation (latest quarter)Rs 18 Cr
Interest (TTM)Rs 43 Cr
Cost of goods sold (latest year)Rs 1,711 Cr
Total expenditure (latest year)Rs 8,306 Cr
Total income (latest year)Rs 8,493 Cr
Share capitalRs 333 Cr
ReservesRs 2,575 Cr
Shareholders' fundsRs 2,908 Cr
Total assetsRs 14,506 Cr
Net blockRs 133 Cr
Capital work in progressRs 3 Cr
InvestmentsRs 11,203 Cr
ReceivablesRs 119 Cr
InventoryRs 2 Cr
Other liabilitiesRs 11,104 Cr
Shares outstanding (crore)33.29
Ownership
Promoter holding30.55% (+4.72 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 150.9 is at the 93th percentile of its own 3.4-year range (median 46.5, low 1.9, high 163.1).
P/B 2.57 is at the 40th percentile (median 2.93).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodRELIGARENifty 50Difference
1 week-6.5%-2.8% -3.8 pts
1 month-10.1%-6.8% -3.3 pts
3 months-14.6%-7.6% -6.9 pts
6 months+11.1%+0.4% +10.7 pts
1 year-13.4%-9.9% -3.4 pts
2 years-19.5%-13.6% -6.0 pts
3 years-7.1%+14.2% -21.3 pts
5 years+26.5%+27.9% -1.4 pts
14 mutual fund schemes hold about ₹366 Cr. Over three months 1 bought more and 6 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Motilal Oswal Large & Midcap Fund0.66%134 -47%
Motilal Oswal Large & Midcap Fund0.66%122 -47%
Samco Active Momentum Fund4.92%37 -9%
Motilal Oswal ELSS Tax Saver Fund0.66%34 -69%
Samco Dynamic Asset Allocation Fund8.67%15 +11%
Motilal Oswal Nifty Microcap 250 Index Fund0.57%14 -2%
Samco Special Opportunities Fund6.65%8 -7%
Motilal Oswal Services Fund1.07%1 -5%
Groww Nifty Total Market Index Fund0.03%0 +1%
Angel One Nifty Total Market Index Fund0.03%0 +1%
Motilal Oswal BSE 1000 Index Fund0.03%0 +2%
Mirae Asset Nifty Total Market Index Fund0.03%0 +1%
Bandhan Nifty Total Market Index Fund0.03%0 +1%
Samco Multi Asset Allocation Fund0.00%0 -100%

Red flags

F-score 4 of 8
explainDebt up, profit down Borrowings up 111% while net profit fell in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹2,353 Cr +26.4% vs Jun 2025. Net loss ₹47 Cr.

Activity

Compare
CompanyMcap (Cr)P/EROCE
Jio Financial Services Ltd143,65869.51.86 %
Aditya Birla Capital Ltd103,48925.78.72 %
Tata Investment Corporation Ltd31,64573.41.57 %
Cholamandalam Financial Holdings Ltd25,7599.659.75 %
TVS Holdings Ltd24,88112.517.0 %
Maharashtra Scooters Ltd14,10450.61.06 %
JSW Holdings Ltd12,21097.60.53 %
Tsf Investments Ltd9,36119.23.38 %
Pilani Investment & Industries Corporation Ltd4,4301.41 %
Nalwa Sons Investments Ltd2,75549.70.48 %
Kalyani Investment Company Ltd2,08151.20.49 %
Elcid Investments Ltd2,05321.51.43 %
Shipping Corporation of India Land & Assets Ltd1,70960.01.31 %
Summit Securities Ltd1,43212.01.52 %
PNB Gilts Ltd1,30212.96.15 %
No bulk or block deals on record.
Ex-dateActionFactor
2024-12-24Annual General Meeting
2023-09-20Annual General Meeting
2022-09-15Annual General Meeting
2021-09-21 Annual General Meeting
2020-12-09 Annual General Meeting
2019-09-18 Annual General Meeting
2018-09-11 Annual General Meeting
2017-09-12 Annual General Meeting
2016-08-25 Annual General Meeting
2015-09-03 Annual General Meeting
2014-09-03Annual General Meeting
2013-09-05Annual General Meeting
2012-08-23Annual General Meeting
2011-08-30Annual General Meeting
2010-08-05Annual General Meeting
2010-03-30Int Div-Rs.2/- Per Share
2010-01-15Rights 2:3@Prem Rs.345/-
2009-09-17Annual General Meeting
2008-09-12Agm/Dividend - 11%
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-07-28NCLTReligare Comtrade Ltd and Religare Enterprises Ltd Vs
2021-03-24NCLTReligare Enterprises Ltd Vs Malvinder Mohan Singh & ors.
2021-03-12NCLTReligare Comtrade Ltd and Religare Enterprises Ltd Vs
2021-01-14NCLTReligare Enterprises Ltd Vs Malvinder Mohan Singh & ors.
2017-11-09CESTATRELIGARE ENTERPRISES LTD ---VS.--- SERVICE TAX - DELHI
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Religare Enterprises Ltd?

Religare Enterprises Ltd (RELIGARE) has a market capitalisation of Rs 8,000 Cr. at the 2026-10-01 close.

What is the P/E ratio of Religare Enterprises Ltd?

Religare Enterprises Ltd trades at a P/E of 161 on trailing twelve-month profit, at the 2026-10-01 close.

What were Religare Enterprises Ltd's latest quarterly results?

In the Jun 2026 quarter, Religare Enterprises Ltd sales was Rs 2,353 Cr (+26.4% vs Jun 2025) with a net loss of Rs 47 Cr.

What is the 52-week high and low of Religare Enterprises Ltd?

The 52-week high is Rs 280.00 and the 52-week low is Rs 196.51.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03