Religare Enterprises Limited RELIGARE NSEFINANCIAL

Financial Services · Insurance - Life · India

https://www.religare.com

Religare Enterprises Limited, through its subsidiaries, provides various financial services in India and internationally. It operates through Investment and Financing Activities; Broking Related Activities; E-Governance; and Insurance segments. The company provides small and medium enterprise financing; and housing finance products comprising home-purchase, home construction, and home improvement loans. It also offers broking services in equity, currency, and commodity; and depository participant services, as well as operates as a NSDL-appointed enrolment agency for Aadhaar Unique Identification Number, and a mutual fund distributor. In addition, the company provides health, critical illness, personal accident, top-up coverage, international travel, and maternity insurance products, as well as group health and personal accident insurance for corporates. Further, the company engages in the permanent account number issuance; tax deduction and collection account number and e-TDS returns; acting as a business correspondent for banking services; bharat bill payment systems and recharges; ticketing for airlines, railways, buses, and tourism through online and offline platforms; digital signature certificate and token services; and operating as a central record keeping agency facilitation center. The company was incorporated in 1984 and is headquartered in New Delhi, India.

Market & Price

Market Cap

₹7,914.89 Cr

Current Price

₹237.55

High / Low (52W)

₹289.81 / ₹201.11

Beta

Valuation

Stock P/E

91.72

Industry PE

19.12

Forward P/E

PEG Ratio

Book Value

₹87.55

Price to Book

2.71

P/S

0.93

EV/EBITDA

45.06

Dividend Yield

Profitability & Returns

ROCE

1.01%

ROE

2.00%

ROA

0.60%

Profit Margin

1.01%

Op Margin

5.54%

EPS (Latest Qtr)

₹2.47

EPS (TTM)

₹2.59

Balance Sheet & Liquidity

Debt/Equity

0.13

Quick Ratio

0.84

Current Ratio

0.84

Debt

₹493.23 Cr

Total Assets

₹14,505.55 Cr

Current Assets

₹2,381.24 Cr

Working Capital

₹86.57 Cr

Ownership

Promoter Holding

47.91%

Chg in Prom Hold

FII / Inst Holding

7.54%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹7,666.19 Cr

Total Revenue (TTM)

₹8,493.84 Cr

EBITDA

₹170.14 Cr

Free Cash Flow

₹-1,050.22 Cr

Operating Cash Flow

₹1,819.96 Cr

Shares Outstanding

₹33.29 Cr

Gross Margin

83.05%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

31.56%

Profit 5Y

-0.37%

Revenue (YoY)

22.10%

Earnings (YoY)

-16.90%

PROS

Compounding revenue at 31.6% over 5 years.

CONS

Trading at a high P/E of 91.7.
Earnings shrank at -0.4% CAGR over 5 years.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Financial Services).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	RELIGARE Religare Enterprises Limited NSEFINANCIAL	237.55	91.72	₹7,914.89 Cr	-	1.01%	2.00%	31.56%	-0.37%
2	HDFCBANK HDFC Bank Limited NIFTY50NSEAIFINANCIAL	744.55	16.61	₹11.46 L Cr	1.75%	-	13.82%	32.50%	20.39%
3	ICICIBANK ICICI Bank Limited NIFTY50NSEAIFINANCIAL	1,256.40	16.81	₹9.01 L Cr	0.88%	-	16.36%	19.65%	16.78%
4	SBIN State Bank of India NIFTY50NSEAIFINANCIALPSU	964.40	10.58	₹8.90 L Cr	1.80%	-	15.48%	12.19%	14.39%
5	KOTAKBANK Kotak Mahindra Bank Limited NIFTY50NSEAIFINANCIAL	384.20	19.80	₹3.82 L Cr	0.13%	-	11.39%	14.58%	8.92%
6	LICI Life Insurance Corporation of India NIFTY_MIDNSEFINANCIALPSU	411.35	9.06	₹2.60 L Cr	2.43%	-	42.36%	7.61%	16.86%
7	SHRIRAMFIN Shriram Finance Limited NIFTY50NSEFINANCIAL	947.15	17.79	₹2.23 L Cr	1.46%	-	16.38%	15.48%	18.59%
8	SBILIFE SBI Life Insurance Company Limited NIFTY50NSEFINANCIAL	1,830.10	74.06	₹1.84 L Cr	0.15%	-	13.70%	11.67%	12.81%
9	ICICIAMC ICICI PRUDENTIAL AMC LTD NIFTY_MIDNSEFINANCIAL	3,538.50	53.19	₹1.75 L Cr	0.70%	98.30%	85.80%	28.94%	29.58%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	2,022.11 Cr	1,570.12 Cr	2,045.67 Cr	2,042.28 Cr	2,459.49 Cr
Cost of Revenue	-	600.00 Cr	668.02 Cr	-	662.57 Cr	688.43 Cr	848.68 Cr
Gross Profit	-	1,063.61 Cr	1,354.09 Cr	-	1,383.10 Cr	1,353.85 Cr	1,610.81 Cr
Operating Expenses	-	-	1,134.15 Cr	1,583.73 Cr	1,334.36 Cr	1,459.51 Cr	1,479.78 Cr
Operating Income	-	-75.56 Cr	219.94 Cr	-	48.73 Cr	-105.66 Cr	131.03 Cr
EBITDA	-	-	245.25 Cr	25.61 Cr	79.35 Cr	-83.32 Cr	148.49 Cr
Interest Expense	-	-	5.79 Cr	7.33 Cr	9.76 Cr	8.98 Cr	9.74 Cr
Pretax Income	-	-	222.11 Cr	5.73 Cr	57.45 Cr	-103.09 Cr	127.17 Cr
Tax Provision	-	-	71.39 Cr	-2.44 Cr	11.52 Cr	-26.55 Cr	31.52 Cr
Net Income	-	-	98.48 Cr	10.27 Cr	38.83 Cr	-45.31 Cr	82.21 Cr
Diluted EPS	-	-	2.98	0.31	1.15	-1.37	2.47

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	3,692.88 Cr	837.73 Cr	7,329.10 Cr	8,408.89 Cr
Cost of Revenue	-	-	2,117.32 Cr	2,540.60 Cr	2,748.27 Cr
Gross Profit	-	-	-1,279.59 Cr	4,788.50 Cr	5,660.62 Cr
Operating Expenses	-	3,824.05 Cr	-1,420.98 Cr	4,535.37 Cr	5,572.03 Cr
Operating Income	-	-	141.39 Cr	253.12 Cr	88.59 Cr
EBITDA	-	3,941.23 Cr	610.50 Cr	342.44 Cr	170.14 Cr
Interest Expense	-	626.45 Cr	91.11 Cr	37.14 Cr	35.81 Cr
Pretax Income	-	3,258.63 Cr	447.69 Cr	243.30 Cr	87.26 Cr
Tax Provision	-	90.02 Cr	100.27 Cr	60.55 Cr	14.10 Cr
Net Income	-	86.93 Cr	232.91 Cr	124.62 Cr	85.96 Cr
Diluted EPS	-	94.67	7.07	3.78	2.59

Compounded Sales Growth

5 Years:	31.56%
1 Year:	22.10%

Compounded Profit Growth

5 Years:	-0.37%
1 Year:	-16.90%

Stock Price Performance

1 Year:	+2.05%
6 Months:	-5.75%
3 Months:	+11.36%
1 Month:	+5.35%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	8,093.89 Cr	9,473.61 Cr	11,228.84 Cr	14,505.55 Cr
Current Assets	-	-	5,736.27 Cr	2,665.27 Cr	2,381.24 Cr
Cash & Equivalents	-	343.72 Cr	200.95 Cr	302.67 Cr	588.07 Cr
Inventory	-	-	2.62 Cr	2.82 Cr	2.35 Cr
Receivables	-	-	141.66 Cr	84.90 Cr	118.86 Cr
Total Liabilities	-	5,416.44 Cr	6,298.99 Cr	7,792.09 Cr	10,628.03 Cr
Current Liabilities	-	-	6,145.83 Cr	7,583.79 Cr	2,294.68 Cr
Long Term Debt	-	-	0	41.30 L	400.59 Cr
Total Debt	-	757.95 Cr	442.60 Cr	233.43 Cr	493.23 Cr
Total Equity	-	2,057.69 Cr	2,343.14 Cr	2,515.82 Cr	2,908.29 Cr
Shares Outstanding	-	32.36 Cr	32.97 Cr	33.07 Cr	33.29 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	1,505.96 Cr	1,499.62 Cr	1,523.47 Cr	1,819.96 Cr
Investing Cash Flow	-	-938.79 Cr	-1,348.03 Cr	-1,184.71 Cr	-2,175.88 Cr
Financing Cash Flow	-	-2,078.83 Cr	-155.85 Cr	-285.48 Cr	689.77 Cr
Capital Expenditure	-	-40.40 Cr	-21.41 Cr	-24.89 Cr	-12.52 Cr
Free Cash Flow	-	1,465.56 Cr	1,478.22 Cr	1,498.58 Cr	1,807.44 Cr
Net Change in Cash	-	-1,511.66 Cr	-4.26 Cr	53.27 Cr	333.85 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	-	-152.7%	65.3%	67.3%
Operating Margin %	-	-	16.9%	3.5%	1.1%
Net Margin %	-	2.4%	27.8%	1.7%	1.0%
ROE %	-	4.2%	9.9%	5.0%	3.0%
ROCE %	-	-	4.2%	6.9%	0.7%

Shareholding Pattern

Insiders

47.91%

Institutions

7.54%

Public Float

14.47%

Analyst View

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