āagman

Not investment advice. Data and computed figures, for information only.

Religare Enterprises Ltd

NSE: RELIGARE
₹220.21
−₹2.80 (−1.26%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹7,502 Cr
CMP
₹220.21
52-wk High / Low
₹280 / 197
P/E
151.0
P/B
2.5
Book Value
₹87.4
Div Yield
0.00%
ROCE
4.0%
ROE
3.2%
Face Value
₹10
D/E
0.17

Price−16.8% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
3
/ 9
3 of 9 F-score tests passed
Graham Number
₹71
√(22.5 × EPS × book value per share)
ROIC
2.7%
vs 10.0% sector median
Cash flow to profit
24.93
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−289
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
3.2%
ROE × earnings retention ratio
ROE stability
63.3
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.28FII +1.79DII +0.81
Latest quarter vs the previous one
Cash-accrual divergence
−13.6%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 97.6% since FY2016 (20247 to 493)
+Promoter holding rose by 30.6pp over the last year
Watch-outs
−Latest ROCE of 4% trails the sector median of 9.4%
−Price trades below its 200-day moving average (0.9x)
−Piotroski F-Score of 3/9 is in the weak band (≤3)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,2851,5841,5111,8561,7101,9521,6682,0421,8612,0772,0562,4672,353
Expenses1,1471,4831,4551,8331,6531,8761,7301,8051,8462,0102,1512,3252,402
Operating Profit13810156235776−612371567−95143−49
OPM %10.7%6.4%3.7%1.2%3.3%3.9%−3.7%11.6%0.8%3.2%−4.6%5.8%−2.1%
Other Income181272495192810121265
Interest2625241813135671091015
Depreciation19181817161514171312111218
Profit before tax11259412363367−79222657−103127−77
Net Profit9340341812769−63151846−7796−47
EPS (₹)1.940.780.593.800.551.55−1.302.980.311.17−1.362.47−0.77

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,1284,8953,7092,6752,3712,3842,5133,2274,6796,2667,3948,4628,954
Expenses2,0063,7101,6592,8413,0052,3412,2353,5924,1965,8987,0378,3068,888
Operating Profit2,1221,1842,050−167−63443278−36448336835615666
OPM %51.4%24.2%55.3%−6.2%−26.7%1.8%11.1%−11.3%10.3%5.9%4.8%1.8%0.7%
Other Income581,012−3166010−157171373,473263123235
Interest1,6581,8791,8401,271854855733750641112635343
Depreciation37363130266159535672624752
Profit before tax485282−136−1,407−1,504−1,030−497−1,0313,259448243875
Net Profit32161−124−1,181−1,501−1,038−478−1,5393,1693471837318
EPS (₹)8.62−2.67−9.77−58.56−59.33−36.12−19.60−48.4395.247.063.772.581.51

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 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—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
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

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.09.010.0−1.0−7.00.04.0−6.016.09.08.04.0
ROE %———————————3.2
EPS (₹)8.62−2.67−9.77−58.56−59.33−36.12−19.60−48.4395.247.063.772.58
Book Value (₹)———————————87.4
Face Value (₹)———————————10
P/E———————————151.0
Div Yield %———————————0.00
NPM %7.71.0−3.7−43.2−63.0−46.6−18.9−45.738.95.32.50.9
OPM %51.024.055.0−6.0−27.01.811.0−11.010.06.04.81.8
D/E4.255.285.485.428.0653.03——0.410.190.090.17
P/B———————————2.5

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+6.0%
5 years+27.0%
3 years+22.0%
TTM+19.0%
Compounded profit growth
10 years+12.0%
5 years+17.0%
3 years+71.0%
TTM−58.0%
Stock price CAGR
10 years−2.0%
5 years+4.0%
3 years−3.0%
Last year−18.0%
Return on equity
3 years4.0%
Last year3.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters50.93%50.93%3.08%1.04%0.88%0.31%0.00%0.00%0.00%25.67%30.27%30.55%
FIIs12.35%12.35%23.61%21.44%18.27%16.46%19.59%18.30%7.91%8.25%7.85%9.64%
DIIs8.22%8.22%17.05%14.69%5.47%6.13%2.38%7.42%8.17%11.76%8.52%9.33%
Government————————————
Public28.51%28.51%56.26%62.82%75.38%77.11%78.03%74.27%83.92%54.32%53.36%50.49%
No. of shareholders23,67023,67049,27845,08741,10542,81357,18959,29284,52774,21373,41169,935
Change since Jun 2023 (pp)
Promoters −20.38FIIs −2.71DIIs +1.11Public +21.98

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-AllotmentUpdate About Appointment In SubsidiaryClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Change in Management
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTAug 2023PPT

Corporate actions

As of 15 Jan 2010
15 Jan 2010RIGHTSRights 2:3@Prem Rs.345/-—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman