Religare Enterprises Ltd.

•

religare.comBSE: 532915NSE: RELIGARE

Market Cap₹ 8,858 Cr.

Current Price

High / Low₹ 280 / 197

Stock P/E161.2

Book Value₹ 81

Price to Book2.64

Dividend Yield0.00 %

ROCE4.7 %

ROE2.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Life Insurance JV: 93.8% • Broking Related Activity: 3.6% • Investment and Finance Activities: 1.8%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Promoters have been increasing their shareholding - up 30.6pp over 2 years
Company has delivered good sales growth of 27.7% CAGR over last 5 years
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
A large part of profit comes from other income (230.0% of PBT)
Recent results are weak - TTM profit is down 94.3% versus prior year
Company has a low return on equity of 8.7% over last 3 years
Valuation is stretched - P/E of 161.2 is well above its own 5-year median (62.3)
Operating margins have contracted to -0.2% from 14.3%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - Investment

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	BAJAJFINSV	1917.30	30.28	307163.22	0.08	62966.70	1081.55	420369.00	1091.26	11.88	40.79
2.	AIIL	546.65	22.13	46422.91	0.00	11082.20	1075.19	14695.40	1109.37	13.85	88.91
3.	CHOLAHLDNG	1525.75	10.74	28650.15	0.09	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13000.05	13.35	26301.84	0.66	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	266.10	22.71	25602.92	0.08	353.38	102.04	1576.47	62.12	11.68	68.54
6.	MAHSCOOTER	13002.55	53.35	14860.05	1.69	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JSWHL	11435.95	92.40	12693.48	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
8.	JMFINANCIL	124.75	11.48	11938.08	2.61	368.57	-19.66	1200.53	9.69	11.91	58.30
9.	TSFINV	437.25	19.95	9711.49	2.55	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	256.95	161.25	8857.93	0.00	-46.98	-674.86	2353.40	1051.76	4.71	-2.08
11.	KAMAHOLD	2282.95	7.87	7326.12	1.82	584.02	10.80	4657.56	7.07	20.86	22.01
12.	PILANIINVS	4196.35	140.83	4646.30	0.21	-47.26	-17.55	14.44	-70.70	1.41	-9.33

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	136	146	157	167	168	177	188	196	204	205	244	265	2,353
	1,147	1,483	1,455	1,833	1,653	1,876	1,730	1,805	1,846	2,003	2,151	2,325	2,435
Operating Profit	138	101	56	484	57	76	-61	237	15	61	-95	143	-49
OPM %	101.18%	69.22%	35.56%	289.58%	33.96%	42.83%	-32.72%	120.85%	7.49%	29.68%	-38.85%	53.73%	-2.08%
Other Income	18	1	27	19	5	19	2	8	10	18	12	6	5
Interest	26	25	24	18	13	13	5	6	7	10	9	10	15
Depreciation	19	18	18	17	16	15	14	17	13	12	11	12	18
	112	59	41	236	33	67	-79	222	6	57	-103	127	-77
Tax %	17.08%	31.56%	17.55%	23.46%	17.91%	-1.75%	19.89%	32.14%	-42.58%	20.05%	25.75%	24.79%	38.77%
Net Profit	0	0	0	0	27	68	-63	151	8	46	-77	96	-47
	2	1	1	4	1	2	-1	3	0	1	-1	2	-0

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4,181	2,524	2,307	2,366	2,493	3,224	4,676	6,235	7,378	8,459	3,068
	2,074	2,842	3,025	2,352	2,256	3,616	4,514	6,551	7,202	8,473	8,915
Operating Profit	2,107	-318	-718	14	236	-392	162	-317	176	-13	-5,846
OPM %	50.39%	-12.59%	-31.10%	0.59%	9.48%	-12.17%	3.47%	-5.08%	2.39%	-0.16%	-190.56%
	-373	211	94	-128	58	165	3,794	948	192	201	41
Interest	1,840	1,271	854	855	733	750	641	112	63	53	43
Depreciation	31	30	26	61	59	53	56	72	62	47	52
Profit before Tax	-136	-1,407	-1,504	-1,030	-497	-1,031	3,259	448	243	87	5
Tax %	9.56%	16.12%	0.17%	-0.76%	3.95%	-49.22%	2.76%	22.40%	24.89%	16.16%	-276.19%
Net Profit	-123	-1,181	-1,501	-1,038	-478	-1,539	3,169	347	183	73	18
EPS	-9.79	-58.56	-63.32	-39.62	-19.69	-51.33	94.67	7.06	3.77	2.58	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: 28%
3 Years:: 22%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -70%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 11%
3 Years:: 2%
1 Year:: 1%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 124%
3 Years:: 9%
Last Year:: 3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	178	178	217	258	259	319	324	330	331	333
Minority Interest	494	418	219	93	345	450	620	831	921	969
	2,547	1,658	508	-190	-328	-1,305	1,732	2,008	2,184	2,211
	14,788	9,954	7,518	6,329	4,972	5,067	1,119	485	331	589
Trade Payables	314	379	425	457	460	583	628	988	1,437	2,079
	3,700	2,006	706	664	2,459	4,194	3,613	4,780	5,923	8,276
Total Liabilities	22,022	14,594	9,594	7,611	8,168	9,308	8,036	9,423	11,127	14,457
	103	80	83	175	117	127	196	161	145	133
Capital Work in Progress	0	0	1	0	0	0	0	0	2	0
	1,983	1,197	1,438	2,023	3,190	3,836	5,094	6,718	8,700	11,203
	1	0	0	0	0	1	0	3	3	2
	0	0	0	0	0	0	0	142	85	119
Cash & Bank	2,022	1,745	1,293	1,461	727	2,415	812	1,053	1,038	1,698
	17,914	11,573	6,779	3,951	4,133	2,930	1,934	1,346	1,155	1,302
Total Assets	22,022	14,594	9,594	7,611	8,168	9,308	8,036	9,423	11,127	14,457

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5,736	5,882	3,580	2,391	1,380	1,554	1,573	1,500	1,523	1,820
Cash from Investing	2,318	-457	-31	-436	-1,181	-689	-939	-1,348	-1,185	-2,176
Cash from Financing	-7,696	-6,455	-3,819	-1,743	-314	559	-2,079	-156	-285	690
	492	-1,110	-295	254	-122	1,466	-1,512	-4	53	334

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	0.00	0.00	0.00	25.67	25.83	25.83	26.27	30.27	30.56
	8.49	8.01	8.05	8.25	8.10	7.81	7.61	7.85	9.64
	10.99	13.43	13.13	11.75	11.61	10.26	9.32	8.52	8.60
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	80.52	78.56	78.83	54.33	54.46	56.11	56.80	53.37	51.21

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Religare Enterprises Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

Updates

2026-09-02 - Religare Enterprises Limited has informed the Exchange regarding 'BRSR for FY 2025-26'.

2026-09-02

Shareholders meeting

2026-09-02 - Religare Enterprises Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026

2026-09-01

Updates

2026-09-01 - Religare Enterprises Limited has informed the Exchange regarding 'General Updates'.

2026-09-01

General Updates

2026-09-01 - Religare Enterprises Limited has informed the Exchange about General Updates

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Religare Enterprises Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

General Updates

2026-08-31 - Religare Enterprises Limited has informed the Exchange about General intimation about AGM

2026-08-25

General Updates

2026-08-25 - Religare Enterprises Limited has informed the Exchange about General Updates

2026-08-19

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - Religare Enterprises Limited has informed the Exchange about Transcript

News

Recent coverage and analyst commentary for RELIGARE

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Religare Enterprises Ltd.

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Free 5nance Account

Name

BAJAJFINSV

1917.30

30.28

307163.22

0.08

62966.70

1081.55

420369.00

1091.26

11.88

40.79

AIIL

546.65

22.13

46422.91

0.00

11082.20

1075.19

14695.40

1109.37

13.85

88.91

CHOLAHLDNG

1525.75

10.74

28650.15

0.09

1788.99

42.04

11113.57

42.92

10.52

57.53

TVSHLTD

13000.05

13.35

26301.84

0.66

1173.58

73.77

17076.18

40.01

19.39

16.25

CGCL

266.10

22.71

25602.92

0.08

353.38

102.04

1576.47

62.12

11.68

68.54

MAHSCOOTER

13002.55

53.35

14860.05

1.69

3.32

-90.61

5.41

-81.52

1.06

84.10

JSWHL

11435.95

92.40

12693.48

0.00

24.54

-92.74

34.58

14.97

0.58

92.45

JMFINANCIL

124.75

11.48

11938.08

2.61

368.57

-19.66

1200.53

9.69

11.91

58.30

TSFINV

437.25

19.95

9711.49

2.55

124.95

-92.11

305.57

102.23

3.47

53.35

RELIGARE

256.95

161.25

8857.93

0.00

-46.98

-674.86

2353.40

1051.76

4.71

-2.08

KAMAHOLD

2282.95

7.87

7326.12

1.82

584.02

10.80

4657.56

7.07

20.86

22.01

PILANIINVS

4196.35

140.83

4646.30

0.21

-47.26

-17.55

14.44

-70.70

1.41

-9.33

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

136

146

157

167

168

177

188

196

204

205

244

265

2,353

1,147

1,483

1,455

1,833

1,653

1,876

1,730

1,805

1,846

2,003

2,151

2,325

2,435

Operating Profit

138

101

484

-61

237

-95

143

-49

OPM %

101.18%

69.22%

35.56%

289.58%

33.96%

42.83%

-32.72%

120.85%

7.49%

29.68%

-38.85%

53.73%

-2.08%

Other Income

Interest

Depreciation

112

236

-79

222

-103

127

-77

Tax %

17.08%

31.56%

17.55%

23.46%

17.91%

-1.75%

19.89%

32.14%

-42.58%

20.05%

25.75%

24.79%

38.77%

Net Profit

-63

151

-77

-47

-1

-0

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

4,181

2,524

2,307

2,366

2,493

3,224

4,676

6,235

7,378

8,459

3,068

2,074

2,842

3,025

2,352

2,256

3,616

4,514

6,551

7,202

8,473

8,915

Operating Profit

2,107

-318

-718

236

-392

162

-317

176

-13

-5,846

OPM %

50.39%

-12.59%

-31.10%

0.59%

9.48%

-12.17%

3.47%

-5.08%

2.39%

-0.16%

-190.56%

-373

211

-128

165

3,794

948

192

201

Interest

1,840

1,271

854

855

733

750

641

112

Depreciation

Profit before Tax

-136

-1,407

-1,504

-1,030

-497

-1,031

3,259

448

243

Tax %

9.56%

16.12%

0.17%

-0.76%

3.95%

-49.22%

2.76%

22.40%

24.89%

16.16%

-276.19%

Net Profit

-123

-1,181

-1,501

-1,038

-478

-1,539

3,169

347

183

EPS

-9.79

-58.56

-63.32

-39.62

-19.69

-51.33

94.67

7.06

3.77

2.58

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

178

217

258

259

319

324

330

331

333

Minority Interest

494

418

219

345

450

620

831

921

969

2,547

1,658

508

-190

-328

-1,305

1,732

2,008

2,184

2,211

14,788

9,954

7,518

6,329

4,972

5,067

1,119

485

331

589

Trade Payables

314

379

425

457

460

583

628

988

1,437

2,079

3,700

2,006

706

664

2,459

4,194

3,613

4,780

5,923

8,276

Total Liabilities

22,022

14,594

9,594

7,611

8,168

9,308

8,036

9,423

11,127

14,457

103

175

117

127

196

161

145

133

Capital Work in Progress

1,983

1,197

1,438

2,023

3,190

3,836

5,094

6,718

8,700

11,203

142

119

Cash & Bank

2,022

1,745

1,293

1,461

727

2,415

812

1,053

1,038

1,698

17,914

11,573

6,779

3,951

4,133

2,930

1,934

1,346

1,155

1,302

Total Assets

22,022

14,594

9,594

7,611

8,168

9,308

8,036

9,423

11,127

14,457

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

5,736

5,882

3,580

2,391

1,380

1,554

1,573

1,500

1,523

1,820

Cash from Investing

2,318

-457

-31

-436

-1,181

-689

-939

-1,348

-1,185

-2,176

Cash from Financing

-7,696

-6,455

-3,819

-1,743

-314

559

-2,079

-156

-285

690

492

-1,110

-295

254

-122

1,466

-1,512

-4

334

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

0.00

25.67

25.83

26.27

30.27

30.56

8.49

8.01

8.05

8.25

8.10

7.81

7.61

7.85

9.64

10.99

13.43

13.13

11.75

11.61

10.26

9.32

8.52

8.60

Government

0.00

80.52

78.56

78.83

54.33

54.46

56.11

56.80

53.37

51.21

Religare Enterprises Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Religare Enterprises Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI