Religare Enterprises logo

Religare Enterprises

RELIGARE NSE

Key Fundamentals

MicrocapInvestment CompanyFinancial Services
Market Cap
₹8,449 Cr
Volatility
Moderate
P/E Ratio
170.07
EBITDA
₹170 Cr
Return on Equity
1.89%
Debt to Equity
0.17
Book Value
₹81.9
EPS
₹0.35
52W High
₹280
52W Low
₹196.51

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Weaknesses

6
  • Stock is trading at 2.94 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding is low: 30.6%
  • Company has a low return on equity of 4.46% over last 3 years.
  • Earnings include an other income of Rs.34.8 Cr.

Growth Rate

Revenue Growth
14.7% lower than 3Y
Net Income Growth
-59.96% lower than 3Y
Cash Flow Change
19.46% lower than 3Y
ROE
-64.47% lower than 3Y
ROCE
-62.75% higher than 3Y
EBITDA Margin (Avg.)
-56.71% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk high

Religare Enterprises Ltd is a financial services company with a market cap of ₹8,810 Cr, trading at a PE of 119.4x and PB of 3.01x. The company has delivered strong sales CAGR of 22% over 3 years but reported a TTM profit decline of 31%, with ROE remaining subdued at around 3-4% over recent years.

Bull Case 7
  • Strong 3-year compounded sales growth of 22%, indicating robust revenue expansion in the financial services business
  • 5-year compounded sales growth of 27% demonstrates sustained long-term revenue momentum
  • 3-year compounded profit growth of 71% shows significant earnings recovery from a low base
  • TTM sales growth of 15% indicates continued topline traction in the most recent period
  • Stock CAGR of 18% over 1 year reflects positive market sentiment and re-rating potential
  • 5-year stock CAGR of 14% shows the company has delivered consistent long-term capital appreciation
  • 10-year compounded profit growth of 12% suggests the company has navigated multiple cycles and maintained profitability over the long run
Bear Case 8
  • PE ratio of 119.4x is extremely elevated for a financial services company, implying very high growth expectations are priced in
  • TTM compounded profit declined by 31%, indicating recent earnings deterioration despite revenue growth
  • 3-year average ROE of only 4% (last year 3%) is well below the cost of equity and indicates poor capital efficiency
  • Promoter holding is low at 30.6%, raising concerns about corporate governance and vulnerability to hostile actions
  • Zero dividend yield despite reporting profits suggests lack of shareholder return commitment or need to retain capital for operational reasons
  • Stock is trading at 3.01x book value which is expensive given the low ROE of 4.47%, indicating poor price-to-value alignment
  • 10-year stock CAGR of 0% indicates the company destroyed or delivered no shareholder value over the long term
  • 5-year compounded profit growth of only 17% versus 27% sales growth implies margin compression over the medium term

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 69d ago
Positives 1
  • New MD & CEO at RHDFCL Jun 25

    RHDFCL, a step-down subsidiary, appointed Pavan Kumar Gupta as MD & CEO effective July 01, 2026, bringing 30+ years of housing finance experience to strengthen subsidiary leadership.

Neutral 2
  • RBI approves RFL MD appointment Jun 23

    RBI approved Srinivasan Karthik as Managing Director of Religare Finvest Ltd, a key subsidiary, providing regulatory clarity on leadership.

  • Ashish Dhawan raises stake to 5.42% Jun 22

    Ashish Dhawan increased his holding to 5.42% of diluted capital via market purchases and warrant conversion, signaling investor confidence.

TL;DR: Religare Enterprises is seeing steady leadership consolidation across its subsidiaries, with RBI-approved appointments and experienced hires signaling operational stability. No material headwinds emerged this week. Promoter-level stake increases suggest confidence in the company's trajectory. The near-term outlook is stable, with focus on execution under refreshed subsidiary management.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,285
1,584
1,511
1,856
1,710
1,952
1,668
2,042
1,861
2,077
2,056
2,467
2,353
Expenses
1,147
1,483
1,455
1,833
1,653
1,876
1,730
1,805
1,846
2,010
2,151
2,325
2,402
Operating Profit
138
101
56
23
57
76
-61
237
15
67
-95
143
-49
OPM %
11%
6%
3.7%
1.2%
3.3%
3.9%
-3.7%
12%
0.8%
3.2%
-4.6%
6%
-2.1%
Other Income
18
1
27
249
5
19
2
8
10
12
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
PBT
112
59
41
236
33
67
-79
222
6
57
-103
127
-77
Tax %
17%
32%
18%
23%
18%
-2%
-20%
32%
-42%
20%
-26%
25%
-39%
Net Profit
93
40
34
181
27
69
-63
151
8
46
-77
96
-47
EPS in Rs
1.94
0.78
0.59
3.8
0.55
1.55
-1.3
2.98
0.31
1.17
-1.36
2.47
-0.77
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,128
4,895
3,709
2,675
2,371
2,384
2,513
3,227
4,679
6,266
7,394
8,462
8,954
Expenses
2,006
3,710
1,659
2,841
3,005
2,341
2,235
3,592
4,196
5,898
7,037
8,306
8,888
Operating Profit
2,122
1,184
2,050
-167
-634
43
278
-364
483
368
356
156
66
OPM %
51%
24%
55%
-6%
-27%
1.8%
11%
-11%
10%
6%
4.8%
1.8%
0.7%
Other Income
58
1,012
-316
60
10
-157
17
137
3,473
263
12
32
35
Interest
1,658
1,879
1,840
1,271
854
855
733
750
641
112
63
53
43
Depreciation
37
36
31
30
26
61
59
53
56
72
62
47
52
PBT
485
282
-136
-1,407
-1,504
-1,030
-497
-1,031
3,259
448
243
87
5
Tax %
34%
79%
-10%
-16%
0%
1%
-4%
49%
3%
22%
25%
16%
—
Net Profit
321
61
-124
-1,181
-1,501
-1,038
-478
-1,539
3,169
347
183
73
18
EPS in Rs
8.62
-2.67
-9.77
-58.56
-59.33
-36.12
-19.6
-48.43
95.24
7.06
3.77
2.58
1.51
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
178
178
178
178
217
258
259
319
324
330
331
333
Reserves
3,705
3,660
2,549
1,658
616
-157
-306
-1,301
1,734
2,013
2,185
2,575
Borrowings
16,491
20,247
14,956
9,945
6,717
5,356
4,940
4,878
841
443
233
493
Other Liabilities
5,064
3,344
3,355
2,081
2,023
2,673
3,832
5,467
5,193
6,686
8,432
11,104
Total Liabilities
25,439
27,429
21,038
13,862
9,573
8,130
8,725
9,362
8,092
9,472
11,180
14,506
Fixed Assets
2,128
1,785
103
80
83
175
117
127
196
161
145
133
CWIP
4
4
12
11
14
13
12
2
5
6
8
3
Investments
4,363
2,700
1,983
1,197
1,438
2,023
3,190
3,836
5,094
6,718
8,700
11,203
Other Assets
18,944
22,941
18,940
12,574
8,038
5,919
5,406
5,397
2,797
2,587
2,327
3,166
Total Assets
25,439
27,429
21,038
13,862
9,573
8,130
8,725
9,362
8,092
9,472
11,180
14,506
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-706
-2,154
5,871
5,802
3,555
2,433
1,373
1,596
1,506
1,500
1,523
1,820
Investing
-612
499
2,149
-457
-31
-436
-1,181
-689
-939
-1,348
-1,185
-2,176
Financing
1,094
1,853
-7,696
-6,455
-3,819
-1,743
-314
559
-2,079
-156
-285
690
Net Cash Flow
-224
198
324
-1,110
-295
254
-122
1,466
-1,512
-4
53
334
Free Cash Flow
-732
-2,202
5,847
5,776
3,522
2,410
1,355
1,557
1,466
1,479
1,499
1,809
CFO/OP
-30
-173
287
-3,525
-565
5,635
497
-438
312
407
439
1,183
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
52
35
60
42
53
14
28
21
14
8
4
5
Cash Conversion Cycle
52
35
60
42
53
14
28
21
14
8
4
5
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%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Promot.30.56%Public28.24%DIIs9.33%FIIs9.64%Others22.23%As ofJun 2026

Documents

Frequently Asked Questions about Religare Enterprises

What does Religare Enterprises Ltd do?
Religare Enterprise Ltd, incorporated in 1984, is a diversified financial services company with presence all over India, operating through its subsidiaries. The Co. provides loans to SMEs, Affordable Housing Finance, Health Insurance and Retail Broking. REL’s subsidiaries service over 11 lakh cli...
Where is Religare Enterprises Ltd (RELIGARE) listed?
Religare Enterprises Ltd trades as RELIGARE on the NSE and under code 532915 on the BSE.
Which sector does Religare Enterprises Ltd belong to?
Religare Enterprises Ltd is classified under the Financial Services sector, in the Investment Company industry.
What is the market capitalisation of Religare Enterprises Ltd?
Religare Enterprises Ltd has a market capitalisation of ₹8,449 Cr, which places it in the Mid Cap band.
What is the PE ratio of Religare Enterprises Ltd?
Religare Enterprises Ltd trades at a PE ratio of 170.07, on earnings per share of ₹0.35, against a book value of ₹81.9 per share.
What is the 52-week high and low of Religare Enterprises Ltd?
Over the last 52 weeks Religare Enterprises Ltd has traded between ₹196.51 and ₹280.
What is the Return on Equity (ROE) of Religare Enterprises Ltd?
Religare Enterprises Ltd reported a return on equity of 1.89%. Its debt-to-equity ratio is 0.17.

Company Information

Religare Enterprise Ltd, incorporated in 1984, is a diversified financial services company with presence all over India, operating through its subsidiaries. The Co. provides loans to SMEs, Affordable Housing Finance, Health Insurance and Retail Broking. REL’s subsidiaries service over 11 lakh clients from over 1,275 locations having presence in more than 400 cities.[1][2]

Website religare.com
CEO Mr. Pratul Gupta
Employees 11,000
Listed 2007-11-21
Face Value ₹ 10
Issued Size 33,07,54,663

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