āagman

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

Rubicon Research Ltd

NSE: RUBICON
₹1,477.10
−₹47.60 (−3.12%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹25,633 Cr
CMP
₹1,477.10
52-wk High / Low
₹1,899 / 571
P/E
88.9
P/B
19.8
Book Value
₹78.1
Div Yield
0.10%
ROCE
28.0%
ROE
27.0%
Face Value
₹1
D/E
0.24

Price+135.1% over 1Y

āagman read

Computed by āagman
Derived from 7 years and 8 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹162
√(22.5 × EPS × book value per share)
ROIC
17.1%
vs 11.2% sector median
Cash flow to profit
0.83
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+171
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
24.6%
ROE × earnings retention ratio
ROE stability
18.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.10FII −0.02DII −0.59
Latest quarter vs the previous one
Cash-accrual divergence
2.2%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.3x)
Watch-outs

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 8 quarters
As of 30 Jun 2026
Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales296313358352412476514534
Expenses234244286273318367395405
Operating Profit6270727994108119129
OPM %20.9%22.4%20.1%22.4%22.8%22.7%23.2%24.2%
Other Income30011436
Interest7812111110109
Depreciation89101012121215
Profit before tax49535160729199110
Net Profit3438364354737785
EPS (₹)2.272.502.352.813.494.424.655.13

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 7 years + TTM
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2633153143948541,2841,7541,936
Expenses1822233533756991,0201,3541,486
Operating Profit8192−3918155264400450
OPM %30.8%29.2%−12.4%4.6%18.1%20.6%22.8%23.2%
Other Income18101725184813
Interest69101931374241
Depreciation1829343639374551
Profit before tax7463−66−11103195321371
Net Profit4931−67−1791134247288
EPS (₹)97.4660.53−132.39−33.315.988.7214.9517.69

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital5555151517—
Reserves3353693002813705261,272—
Borrowings3093175320425418311—
Other Liabilities607179144300493727—
Total Liabilities4305385607501,1091,4512,327—
Fixed Assets157188193199307327532—
CWIP2632510741—
Investments1914000027—
Other Assets2523303645267931,1181,728—
Total Assets4305385607501,1091,4512,327—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity562−63−7521159205
Cash from Investing Activity−84−46−46−32−68−65−407
Cash from Financing Activity80526312344−40283
Net Cash Flow167−4516−45481

Ratios

As of 31 Mar 2026
7 periods
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—17.0−12.01.019.026.028.0
ROE %——————27.0
EPS (₹)97.4660.53−132.39−33.315.988.7214.95
Book Value (₹)——————78.1
Face Value (₹)——————1
P/E——————88.9
Div Yield %——————0.10
NPM %17.49.5−20.2−4.110.410.414.0
OPM %31.029.0−12.04.718.021.023.0
D/E0.090.250.571.121.100.770.24
P/B——————19.8

Growth

As of 11 Oct 2026
Compounded sales growth
5 years+41.0%
3 years+65.0%
TTM+47.0%
Compounded profit growth
5 years+52.0%
3 years+155.0%
TTM+89.0%
Return on equity
5 years16.0%
3 years27.0%
Last year27.0%

Shareholding pattern

As of 31 Mar 2026
Dec 2025Mar 2026
Promoters59.86%59.76%
FIIs7.54%7.52%
DIIs10.02%9.43%
Government——
Public22.57%23.29%
No. of shareholders33,73843,254
Change since Dec 2025 (pp)
Promoters −0.10FIIs −0.02DIIs −0.59Public +0.72

Documents

As of 11 Oct 2026
Announcements
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 -US FDA Inspection Of The Company''s Manufacturing Facility In Satara, Maharashtra, India.Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSClosure of Trading WindowDisclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Annual reports
Annual Report 2026
Credit ratings
Rating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026TranscriptJun 2026PPTJun 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPT

Corporate actions

As of 7 Aug 2026
7 Aug 2026DIVIDENDDividend - Rs 1.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman