Rishabh Instruments Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,535 Cr
- P/E
- 31.36
- ROE
- 12.02%
- PEG
- 1.50
- Price to sales
- 3.23
- Debt to equity
- 0.11
- 52W high / low
- ₹830 / ₹320
- Sales growth (5Y)
- 14.73%
- EBITDA margin
- 16.78%
- Net profit margin
- 10.61%
- Promoter holding
- 69.28%
- Sales (last year)
- ₹783 Cr
Guidance scorecard · Q1 FY27 call
What Rishabh Instrum.'s management guided
RevenueQ1 FY27 call
20–40%- EEI business growth guidance remains at 20% top-line and 20-22% EBITDA; possible slight upside of 2-3% but no major upgrade planned.
- Strong Q1 performance driven by multiple markets and products supports sustainable growth throughout the year.
- Lumel S.A. expects continued growth with ongoing large orders and energy grid upgrades in Europe, with potential multi-year projects.
- U.S. market aims to scale from INR30 crores to INR100 crores within 2-3 years through organic growth and possible acquisitions.
- Solar inverter business is gearing up, targeting substantial growth next year (INR250-300 crores), currently less than 5% of revenue.
2 more points from Rishabh Instrum.'s call on revenue
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MarginsQ1 FY27 call
FlatSee what Rishabh Instrum. said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Current capex includes expanding current transformer (CT) production capacity from 5,000-6,000 units/day to 8,000-10,000 units/day, nearly doubling capacity.
- Additional machinery ordered for this CT capacity expansion; work in progress.
- Upgrading one of the existing SMT PCB assembly lines to handle more complex projects; currently operate 3 SMT lines including a high-end one for PCBA manufacturing.
- Planning to add more SMT lines once existing lines are fully utilized and shifted to 3 shifts.
- Indirect involvement in battery energy storage systems through hybrid inverters but no direct battery manufacturing.
2 more points from Rishabh Instrum.'s call on capex
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FundraisingQ1 FY27 call
See what Rishabh Instrum. said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Order bookings in the domestic market have shown a 20% increase in Q1 FY27 compared to the previous year.
- Lumel S.A. has ongoing deliveries from a EUR3 million follow-up order, lasting until the end of the financial year, accounting for approximately 20-25% of sales.
- The company has a strong pipeline of RFQs and offers submitted across divisions like Alucast, with several at various qualification stages.
2 more points from Rishabh Instrum.'s call on the order book
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Ranges 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
This quarter's potential multibaggers
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.
Financials of Rishabh Instrum.
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Rishabh Instrum.
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 + | 174 | 172 | 180 | 159 | 178 | 169 | 182 | 181 | 187 | 190 | 196 | 184 | 205 |
| Expenses + | 150 | 156 | 148 | 155 | 160 | 162 | 172 | 167 | 171 | 162 | 163 | 152 | 172 |
| Operating Profit | 25 | 17 | 32 | 5 | 18 | 8 | 10 | 14 | 16 | 28 | 33 | 31 | 33 |
| OPM % | 14% | 10% | 18% | 3% | 10% | 4% | 6% | 8% | 9% | 15% | 17% | 17% | 16% |
| Other Income + | 3 | 4 | 2 | 4 | 2 | 4 | 3 | 5 | 3 | 4 | 5 | 6 | 6 |
| Interest | 1 | 2 | 1 | 1 | 0 | 1 | 2 | 1 | 2 | 1 | 1 | 1 | 2 |
| Depreciation | 7 | 7 | 7 | 5 | 9 | 6 | 6 | 7 | 8 | 8 | 9 | 10 | 10 |
| Profit before tax | 19 | 11 | 25 | 3 | 11 | 5 | 6 | 11 | 9 | 24 | 29 | 26 | 28 |
| Tax % | 22% | 29% | 12% | -128% | 79% | 30% | 29% | 28% | 32% | 18% | 23% | 21% | 27% |
| Net Profit + | 15 | 8 | 22 | 7 | 2 | 3 | 4 | 8 | 6 | 20 | 22 | 21 | 20 |
| EPS in Rs | 5.09 | 2.72 | 5.72 | 2.00 | 0.63 | 0.95 | 1.08 | 2.19 | 1.64 | 5.13 | 5.77 | 5.19 | 5.11 |
Financials of Rishabh Instrum.
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 401 | 390 | 470 | 570 | 690 | 720 | 775 |
| Expenses + | 341 | 332 | 397 | 493 | 618 | 671 | 649 |
| Operating Profit | 60 | 58 | 73 | 77 | 72 | 49 | 126 |
| OPM % | 15% | 15% | 16% | 13% | 10% | 7% | 16% |
| Other Income + | 9 | 13 | 10 | 10 | 12 | 14 | 21 |
| Interest | 4 | 4 | 4 | 6 | 5 | 6 | 6 |
| Depreciation | 24 | 21 | 20 | 20 | 28 | 27 | 36 |
| Profit before tax | 40 | 46 | 59 | 61 | 51 | 30 | 106 |
| Tax % | 22% | 22% | 16% | 18% | 22% | 30% | 22% |
| Net Profit + | 32 | 36 | 50 | 50 | 40 | 21 | 82 |
| EPS in Rs | 20.78 | 23.75 | 32.18 | 16.01 | 10.38 | 5.89 | 21.15 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 9% |
Financials of Rishabh Instrum.
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 29 | 38 | 38 | 39 |
| Reserves | 269 | 285 | 326 | 372 | 521 | 573 | 706 |
| Borrowings + | 104 | 106 | 103 | 106 | 58 | 98 | 81 |
| Other Liabilities + | 101 | 105 | 118 | 140 | 162 | 177 | 177 |
| Total Liabilities | 488 | 510 | 562 | 647 | 779 | 886 | 1,003 |
| Fixed Assets + | 181 | 224 | 220 | 219 | 265 | 311 | 382 |
| CWIP | 32 | 2 | 5 | 8 | 17 | 32 | 41 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 276 | 284 | 337 | 420 | 496 | 544 | 580 |
| Total Assets | 488 | 510 | 562 | 647 | 779 | 886 | 1,003 |
Financials of Rishabh Instrum.
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 72 | 53 | 13 | 28 | 76 | 65 | 108 |
| Cash from Investing Activity + | -63 | -18 | -14 | -3 | -115 | -63 | -117 |
| Cash from Financing Activity + | 21 | -23 | -7 | -4 | 23 | 37 | -28 |
| Net Cash Flow | 29 | 11 | -8 | 20 | -16 | 39 | -37 |
| Free Cash Flow | 25 | 18 | -2 | -1 | 7 | -11 | 7 |
| CFO/OP | 135% | 104% | 33% | 53% | 122% | 159% | 105% |
Financials of Rishabh Instrum.
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 56 | 64 | 62 | 77 | 68 | 68 | 62 |
| Inventory Days | 163 | 185 | 237 | 218 | 219 | 195 | 214 |
| Days Payable | 115 | 145 | 125 | 117 | 99 | 98 | 92 |
| Cash Conversion Cycle | 104 | 104 | 174 | 178 | 189 | 165 | 184 |
| Working Capital Days | 8 | 16 | 44 | 66 | 79 | 76 | 73 |
| ROCE % | 12% | 15% | 14% | 10% | 5% | 14% |
Guidance history
How Rishabh Instrum.'s guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
42 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +58.0% | 87% |
| Last 6 months | +38.8% | 85% |
| Last 3 months | +7.3% | 76% |
The price is 21% below its all-time high of ₹829.6 (11 Sept 2026). Stocks more than 20% below their peak have their score halved, so 84 became 42.
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 Rishabh Instrum.: 0.4 × 87 + 0.4 × 85 + 0.2 × 76 = 84, halved to 42 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.