Religare Enterprises Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹7,467 Cr
- P/E
- 150.70
- ROE
- 3.18%
- PEG
- 2.14
- Price to sales
- 0.84
- Debt to equity
- 0.17
- 52W high / low
- ₹278 / ₹201
- Sales growth (5Y)
- 27.48%
- EBITDA margin
- 0.73%
- Net profit margin
- 0.87%
- Promoter holding
- 30.55%
- Sales (last year)
- ₹8,954 Cr
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]
Guidance scorecard · Q1 FY27 call
What Religare Enterprises Ltd's management guided
and where it ranks in Finance
Finance
RevenueQ1 FY27 call
20–40%- Care Health Insurance expects strong growth, with a 37% overall GWP increase in Q1 FY27 and retail new business growing over 50%.
- Care aims to beat the industry growth rate, which is 32% for retail health, indicating continued market share gains.
- Financial services NBFC businesses (Religare Finvest and Housing Finance) plan to grow their loan book significantly, targeting an AUM of INR10,000-15,000 crores with adequate capital (INR1,500 to 2,000 crores) earmarked for growth.
- Broking business is in a repair and investment phase with intentions to build a new growth model; Q1 FY27 revenue increased 7% YoY with a 53% increase in PBT.
2 more points from Religare Enterprises Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Religare Enterprises Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Care Health Insurance raised INR150 crores equity through rights issue in Q1 FY27 and INR200 crores sub-debt in August 2026 to support business growth as per IRDAI norms.
- Additional capital infusion planned to maintain solvency ratio at 1.7x; promoters, including Religare Enterprises Limited (REL) and Kedaara, committed to funding as needed.
- REL subscribed fully and beyond its quota in rights issues, marginally increasing its stake in Care.
- Care aims to deploy raised capital primarily for business growth and profitability enhancement.
- Financial services business (NBFC and HFC) is sufficiently capitalized with about INR1,500-2,000 crores of capital earmarked, targeting a book size of INR10,000-15,000 crores.
2 more points from Religare Enterprises Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Religare Enterprises Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Religare Enterprises Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Finance
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Finance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹2,742 Cr | 71.8 | |
| 2 | 40%+ | Up 2%+ | ₹464 Cr | 23.9 | |
| 3 | 40%+ | Up 0–2% | ₹961 Cr | 32.7 | |
| 4 | 40%+ | Flat | ₹23,820 Cr | 21.1 | |
| 5 | 40%+ | Flat | ₹16,498 Cr | 72.4 | |
| 6 | 40%+ | Flat | ₹15,549 Cr | — |
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Pro shows every company guiding 40%+ revenue growth →Full Finance rankingFinancials of Religare Enterprises Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Religare Enterprises Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,396 | 1,285 | 1,584 | 1,511 | 1,856 | 1,710 | 1,952 | 1,668 | 2,042 | 1,861 | 2,077 | 2,056 | 2,467 |
| Expenses + | 1,149 | 1,147 | 1,483 | 1,455 | 1,833 | 1,653 | 1,876 | 1,730 | 1,805 | 1,846 | 2,010 | 2,151 | 2,325 |
| Operating Profit | 247 | 138 | 101 | 56 | 23 | 57 | 76 | -61 | 237 | 15 | 67 | -95 | 143 |
| OPM % | 18% | 11% | 6% | 4% | 1% | 3% | 4% | -4% | 12% | 1% | 3% | -5% | 6% |
| Other Income + | 3,354 | 18 | 1 | 27 | 249 | 5 | 19 | 2 | 8 | 10 | 12 | 12 | 6 |
| Interest | 29 | 26 | 25 | 24 | 18 | 13 | 13 | 5 | 6 | 7 | 10 | 9 | 10 |
| Depreciation | 14 | 19 | 18 | 18 | 17 | 16 | 15 | 14 | 17 | 13 | 12 | 11 | 12 |
| Profit before tax | 3,557 | 112 | 59 | 41 | 236 | 33 | 67 | -79 | 222 | 6 | 57 | -103 | 127 |
| Tax % | 1% | 17% | 32% | 18% | 23% | 18% | -2% | -20% | 32% | -42% | 20% | -26% | 25% |
| Net Profit + | 3,517 | 93 | 40 | 34 | 181 | 27 | 69 | -63 | 151 | 8 | 46 | -77 | 96 |
| EPS in Rs | 107.61 | 1.94 | 0.78 | 0.59 | 3.80 | 0.55 | 1.55 | -1.30 | 2.98 | 0.31 | 1.17 | -1.36 | 2.47 |
Financials of Religare Enterprises Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 4,128 | 4,895 | 3,709 | 2,675 | 2,371 | 2,384 | 2,513 | 3,227 | 4,679 | 6,266 | 7,385 | 8,459 |
| Expenses + | 2,006 | 3,710 | 1,659 | 2,841 | 3,005 | 2,341 | 2,235 | 3,592 | 4,196 | 5,898 | 7,029 | 8,324 |
| Operating Profit | 2,122 | 1,184 | 2,050 | -167 | -634 | 43 | 278 | -364 | 483 | 368 | 356 | 136 |
| OPM % | 51% | 24% | 55% | -6% | -27% | 2% | 11% | -11% | 10% | 6% | 5% | 2% |
| Other Income + | 58 | 1,012 | -316 | 60 | 10 | -157 | 17 | 137 | 3,473 | 263 | 12 | 34 |
| Interest | 1,658 | 1,879 | 1,840 | 1,271 | 854 | 855 | 733 | 750 | 641 | 112 | 63 | 36 |
| Depreciation | 37 | 36 | 31 | 30 | 26 | 61 | 59 | 53 | 56 | 72 | 62 | 47 |
| Profit before tax | 485 | 282 | -136 | -1,407 | -1,504 | -1,030 | -497 | -1,031 | 3,259 | 448 | 243 | 87 |
| 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 |
| EPS in Rs | 8.62 | -2.67 | -9.77 | -58.56 | -59.33 | -36.12 | -19.60 | -48.43 | 95.24 | 7.06 | 3.79 | 2.58 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Religare Enterprises Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 8,480 | 11,104 |
| Total Liabilities | 25,439 | 27,429 | 21,038 | 13,862 | 9,573 | 8,130 | 8,725 | 9,362 | 8,092 | 9,472 | 11,229 | 14,506 |
| Fixed Assets + | 2,128 | 1,785 | 103 | 80 | 83 | 175 | 117 | 127 | 196 | 161 | 145 | 136 |
| CWIP | 4 | 4 | 12 | 11 | 14 | 13 | 12 | 2 | 5 | 6 | 8 | 0 |
| 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 | 2,376 | 3,166 |
| Total Assets | 25,439 | 27,429 | 21,038 | 13,862 | 9,573 | 8,130 | 8,725 | 9,362 | 8,092 | 9,472 | 11,229 | 14,506 |
Financials of Religare Enterprises Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -706 | -2,154 | 5,871 | 5,802 | 3,555 | 2,433 | 1,373 | 1,596 | 1,506 | 1,500 | 1,572 | 1,820 |
| Cash from Investing Activity + | -612 | 499 | 2,149 | -457 | -31 | -436 | -1,181 | -689 | -939 | -1,348 | -1,185 | -2,176 |
| Cash from Financing Activity + | 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 | 102 | 334 |
| Free Cash Flow | -732 | -2,202 | 5,847 | 5,776 | 3,522 | 2,410 | 1,355 | 1,557 | 1,466 | 1,479 | 1,547 | 1,809 |
| CFO/OP | -30% | -173% | 287% | -3,525% | -565% | 5,635% | 497% | -438% | 312% | 407% | 441% | 1,342% |
Financials of Religare Enterprises Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 52 | 35 | 60 | 42 | 53 | 14 | 28 | 21 | 14 | 8 | 4 | 5 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| 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 | -334 | -289 |
| ROCE % | 11% | 9% | 10% | -1% | -7% | -0% | 4% | -6% | 16% | 9% | 8% | 3% |
Guidance history
How Religare Enterprises Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | Planned | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q2 FY26 call → | 20–40% | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
21 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −18.2% | 39% |
| Last 6 months | −2.5% | 50% |
| Last 3 months | −14.4% | 30% |
The price is 67.3% below its all-time high of ₹661.3 (4 Jan 2008). Stocks more than 20% below their peak have their score halved, so 41 became 21.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Religare Enterprises Ltd: 0.4 × 39 + 0.4 × 50 + 0.2 × 30 = 41, halved to 21 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Religare Enterprises Ltd's management said in earlier quarters
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