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Religare Enterprises Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹260.84Undervalued by 18.56%vs CMP ₹220.00

P/E (71.1) × ROE (5.2%) × BV (₹87.30) × DY (2.00%)

₹223.23Fairly Valued by 1.47%vs CMP ₹220.00
MoS: +1.4% (Thin)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹576.1024%Under (+161.9%)
Graham NumberEarnings₹78.2814%Over (-64.4%)
Earnings PowerEarnings₹188.5812%Over (-14.3%)
DCFCash Flow₹85.6712%Over (-61.1%)
Net Asset ValueAssets₹87.488%Over (-60.2%)
EV/EBITDAEnterprise₹141.4010%Over (-35.7%)
Earnings YieldEarnings₹31.208%Over (-85.8%)
ROCE CapitalReturns₹81.398%Over (-63%)
Revenue MultipleRevenue₹222.326%Fair (+1.1%)
Consensus (9 models)₹223.23100%Fairly Valued
Key Drivers: EPS CAGR 120.9% lifts DCF — verify sustainability. | Wide model spread (₹31–₹576) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 120.9%

*Investments are subject to market risks

Analyst Summary

Religare Enterprises Ltd operates in the Finance & Investments segment, current market price is ₹220.00, market cap is 7,308 Cr.. At a glance, stock P/E is 71.1, ROE is 5.15 %, ROCE is 8.39 %, book value is 87.3, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹223.23, which is broadly in line with the current market price. On operating trend, latest reported sales are about ₹7,385 Cr versus the prior period change of 17.9%, while latest net profit is about ₹183 Cr with a prior-period change of -47.3%. The 52-week range shown on this page is 314/197, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisReligare Enterprises Ltd. is a Public Limited Listed company incorporated on 30/01/1984 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L7…

This summary is generated from the stock page data available for Religare Enterprises Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

55
Religare Enterprises Ltd scores 55/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health55/100 · Moderate
ROCE 8.4% AverageROE 5.2% WeakD/E -103.85 Low debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money40/100 · Moderate
FII holding stable No changeDII holding down 2.43% MF sellingPromoter holding at 26.3% Stable
Earnings Quality75/100 · Strong
OPM expanding (-1% → 6%) ImprovingWorking capital: -334 days (improving) Efficient
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +12% YoY GrowingProfit (4Q): -40% YoY Declining
Industry Rank40/100 · Moderate
P/E 71.1 vs industry 98.5 In-lineROCE 8.4% vs industry 21.7% Below peersROE 5.2% vs industry 14.2% Below peers3Y sales CAGR: 32% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:34 am

Market Cap 7,308 Cr.
Current Price 220
Intrinsic Value₹223.23
High / Low 314/197
Stock P/E71.1
Book Value 87.3
Dividend Yield0.00 %
ROCE8.39 %
ROE5.15 %
Face Value 10.0
PEG Ratio0.59

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Religare Enterprises Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Religare Enterprises Ltd 7,308 Cr. 220 314/19771.1 87.30.00 %8.39 %5.15 % 10.0
MAS Financial Services Ltd 5,321 Cr. 293 355/22615.0 1550.58 %11.3 %14.1 % 10.0
Edelweiss Financial Services Ltd 10,052 Cr. 106 131/73.517.0 46.71.41 %13.3 %8.68 % 1.00
Dhani Services Ltd 3,317 Cr. 51.1 76.5/49.897.8 47.00.00 %1.39 %1.81 % 2.00
Indo Thai Securities Ltd 3,235 Cr. 295 470/14486.5 16.90.03 %8.66 %6.54 % 1.00
Industry Average6,725.79 Cr1,029.6498.514,364.490.43%21.71%14.20%7.23

All Competitor Stocks of Religare Enterprises Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,1651,3961,2851,5841,5111,8561,7101,9521,6682,0281,8612,0772,056
Expenses 1,0201,1491,1471,4831,4551,8331,6531,8761,7301,7961,8462,0102,151
Operating Profit 14524713810156235776-612321567-95
OPM % 12%18%11%6%4%1%3%4%-4%11%1%3%-5%
Other Income 33,35418127249519213101212
Interest 21329262524181313567109
Depreciation 14141918181716151417131211
Profit before tax -793,55711259412363367-79222657-103
Tax % 22%1%17%32%18%23%18%-2%-20%32%-42%20%-26%
Net Profit -963,5179340341812769-63151846-77
EPS in Rs -3.62107.611.940.780.593.800.551.55-1.303.000.311.17-1.36

Last Updated: March 3, 2026, 3:06 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 2:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 3,3614,1284,8953,7092,6752,3712,3842,5133,2274,6796,2667,3858,023
Expenses 1,5852,0063,7101,6592,8413,0052,3412,2353,5924,1965,8987,0297,803
Operating Profit 1,7752,1221,1842,050-167-63443278-364483368356220
OPM % 53%51%24%55%-6%-27%2%11%-11%10%6%5%3%
Other Income 25581,012-3166010-157171373,4732631247
Interest 1,5841,6581,8791,8401,2718548557337506411126332
Depreciation 34373631302661595356726253
Profit before tax 182485282-136-1,407-1,504-1,030-497-1,0313,259448243182
Tax % 85%34%79%-10%-16%-0%1%-4%49%3%22%25%
Net Profit 2732161-124-1,181-1,501-1,038-478-1,5393,169347183129
EPS in Rs -4.638.62-2.67-9.77-58.56-59.33-36.12-19.60-48.4395.247.063.793.12
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)1088.89%-81.00%-303.28%-852.42%-27.10%30.85%53.95%-221.97%305.91%-89.05%-47.26%
Change in YoY Net Profit Growth (%)0.00%-1169.89%-222.28%-549.14%825.32%57.94%23.10%-275.92%527.88%-394.96%41.79%

Religare Enterprises Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:25%
3 Years:32%
TTM:13%
Compounded Profit Growth
10 Years:-2%
5 Years:17%
3 Years:28%
TTM:78%
Stock Price CAGR
10 Years:-1%
5 Years:46%
3 Years:21%
1 Year:-6%
Return on Equity
10 Years:%
5 Years:%
3 Years:4%
Last Year:5%

Last Updated: September 5, 2025, 1:05 pm

Balance Sheet

Last Updated: December 4, 2025, 1:53 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 150178178178178217258259319324330331331
Reserves 2,9823,7053,6602,5491,658616-157-306-1,3011,7342,0132,1852,575
Borrowings 14,07316,49120,24714,9569,9456,7175,3564,9404,878841443233319
Other Liabilities 3,9205,0643,3443,3552,0812,0232,6733,8325,4675,1936,6868,4809,280
Total Liabilities 21,12525,43927,42921,03813,8629,5738,1308,7259,3628,0929,47211,22912,505
Fixed Assets 1,9812,1281,7851038083175117127196161145137
CWIP 1244121114131225680
Investments 3,3444,3632,7001,9831,1971,4382,0233,1903,8365,0946,7188,7009,924
Other Assets 15,78818,94422,94118,94012,5748,0385,9195,4065,3972,7972,5872,3762,444
Total Assets 21,12525,43927,42921,03813,8629,5738,1308,7259,3628,0929,47211,22912,505

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1,634-706-2,1545,8715,8023,5552,4331,3731,5961,5061,5001,572
Cash from Investing Activity + -403-6124992,149-457-31-436-1,181-689-939-1,348-1,185
Cash from Financing Activity + -1,4001,0941,853-7,696-6,455-3,819-1,743-314559-2,079-156-285
Net Cash Flow -169-224198324-1,110-295254-1221,466-1,512-4102
Free Cash Flow 1,601-732-2,2025,8475,7763,5222,4101,3551,5571,4661,4791,547
CFO/OP 93%-30%-173%287%-3,525%-565%5,635%497%-438%312%407%441%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-13.00-14.00-19.00-12.00-176.00-640.0038.00274.00-368.00-358.00-75.00123.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 5252356042531428211484
Inventory Days
Days Payable
Cash Conversion Cycle 5252356042531428211484
Working Capital Days -303-326-257-187-250-224-352-264-387-275-291-334
ROCE %11%11%9%10%-1%-7%-0%4%-6%16%9%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%25.67%25.83%25.83%26.27%
FIIs 18.30%19.48%11.75%9.89%7.91%8.49%8.01%8.05%8.25%8.10%7.81%7.61%
DIIs 7.42%7.00%7.84%7.75%8.17%10.99%13.43%13.14%11.76%11.62%10.27%9.33%
Public 74.27%73.52%80.41%82.36%83.92%80.51%78.56%78.82%54.32%54.45%56.11%56.79%
No. of Shareholders 59,29257,93961,53569,31184,52783,05079,94680,23674,21374,05885,87381,959

Shareholding Pattern Chart

No. of Shareholders

Religare Enterprises Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Large and Midcap Fund 9,900,000 1.61 235.7511,434,6262025-12-15 07:59:16-13.42%
Motilal Oswal ELSS Tax Saver Fund 4,488,708 2.55 106.894,488,8082025-12-15 04:04:44-0%
Motilal Oswal Focused Fund 2,169,340 3.57 51.662,125,2552026-02-23 01:01:172.07%
Samco Active Momentum Fund 1,800,000 6.47 42.86N/AN/AN/A
Samco Dynamic Asset Allocation Fund 1,000,000 10.21 23.81N/AN/AN/A
Samco Special Opportunities Fund 510,000 9.06 12.14N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 3.797.1396.06-51.33-19.65
Diluted EPS (Rs.) 3.787.0794.67-51.33-19.65
Cash EPS (Rs.) 7.4212.7199.67-46.58-16.15
Book Value[Excl.RevalReserv]/Share (Rs.) 76.0970.9663.59-16.6911.48
Book Value[Incl.RevalReserv]/Share (Rs.) 76.0970.9663.59-16.6911.48
Revenue From Operations / Share (Rs.) 222.41189.09144.53101.1195.86
PBDIT / Share (Rs.) 10.3611.6020.20-7.4611.04
PBIT / Share (Rs.) 8.489.4318.46-9.148.77
PBT / Share (Rs.) 7.3613.58100.71-32.34-19.17
Net Profit / Share (Rs.) 5.5410.5497.93-48.26-18.41
NP After MI And SOA / Share (Rs.) 3.797.0695.24-48.43-19.60
PBDIT Margin (%) 4.656.1313.97-7.3811.51
PBIT Margin (%) 3.814.9812.77-9.039.15
PBT Margin (%) 3.307.1869.68-31.98-20.00
Net Profit Margin (%) 2.495.5767.75-47.72-19.21
NP After MI And SOA Margin (%) 1.703.7365.89-47.89-20.44
Return on Networth / Equity (%) 4.979.95149.760.000.00
Return on Capital Employeed (%) 3.364.5610.92-19.5410.06
Return On Assets (%) 1.112.4338.07-16.50-5.82
Long Term Debt / Equity (X) 0.000.000.000.00-11.92
Total Debt / Equity (X) 0.080.180.35-4.92-103.85
Asset Turnover Ratio (%) 0.700.700.530.000.00
Current Ratio (X) 3.683.252.811.111.16
Quick Ratio (X) 3.683.252.811.111.16
Inventory Turnover Ratio (X) 2704.860.000.000.000.00
Interest Coverage Ratio (X) 9.224.091.04-0.320.39
Interest Coverage Ratio (Post Tax) (X) 5.942.250.80-1.080.34
Enterprise Value (Cr.) 7823.517089.945230.887032.765988.22
EV / Net Operating Revenue (X) 1.061.141.122.182.41
EV / EBITDA (X) 22.8518.538.01-29.5520.91
MarketCap / Net Operating Revenue (X) 1.061.111.001.290.91
Price / BV (X) 3.092.952.28-4.22-48.26
Price / Net Operating Revenue (X) 1.061.111.001.290.91
EarningsYield 0.010.030.65-0.37-0.22

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Religare Enterprises Ltd. is a Public Limited Listed company incorporated on 30/01/1984 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1984PLC146935 and registration number is 146935. Currently Company is involved in the business activities of Human resources provision and management of human resources functions. Company's Total Operating Revenue is Rs. 6.26 Cr. and Equity Capital is Rs. 330.65 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Finance & Investments1407, 14th Floor, Chiranjiv Tower, New Delhi Delhi 110019Contact not found
Management
NamePosition Held
Mr. Malay Kumar SinhaChairperson (NonExe.&Ind.Director)
Mr. Ranjan DwivediInd. Non-Executive Director
Mr. Praveen Kumar TripathiInd. Non-Executive Director
Ms. Preeti MadanInd. Non-Executive Director
Mr. Rajender Mohan MallaInd. Non-Executive Director
Mr. Gurumurthy RamanathanInd. Non-Executive Director
Mr. Shrikant Shreeniwas SomaniInd. Non-Executive Director
Mr. Suresh MahalingamNon Exe.Non Ind.Director
Mr. Arjun LambaNon Exe.Non Ind.Director

FAQ

What is the intrinsic value of Religare Enterprises Ltd and is it undervalued?

As of 23 April 2026, Religare Enterprises Ltd's intrinsic value is ₹223.23, which is 1.47% higher than the current market price of ₹220.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (5.15 %), book value (₹87.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Religare Enterprises Ltd?

Religare Enterprises Ltd is trading at ₹220.00 as of 23 April 2026, with a FY2026-2027 high of ₹314 and low of ₹197. The stock is currently near its 52-week low. Market cap stands at ₹7,308 Cr..

How does Religare Enterprises Ltd's P/E ratio compare to its industry?

Religare Enterprises Ltd has a P/E ratio of 71.1, which is below the industry average of 98.51. This is broadly in line with or below the industry average.

Is Religare Enterprises Ltd financially healthy?

Key indicators for Religare Enterprises Ltd: ROCE of 8.39 % is on the lower side compared to the industry average of 21.71%; ROE of 5.15 % is below ideal levels (industry average: 14.20%). Dividend yield is 0.00 %.

Is Religare Enterprises Ltd profitable and how is the profit trend?

Religare Enterprises Ltd reported a net profit of ₹183 Cr in Mar 2025 on revenue of ₹7,385 Cr. Compared to ₹-1,539 Cr in Mar 2022, the net profit shows an improving trend.

Does Religare Enterprises Ltd pay dividends?

Religare Enterprises Ltd has a dividend yield of 0.00 % at the current price of ₹220.00. The company is currently not paying meaningful dividends.

Last Updated: April 2, 2026, 3:34 am
Author: Getaka|Social: XLinkedIn
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Religare Enterprises Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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