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Swing Capital

Religare Enterprises Ltd

NSE: RELIGARE BSE: 532915Finance

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]

₹219
52W: ₹197 — ₹314
PE 0 · Book ₹74.1 · +196% vs book
Market Cap₹7,277 Cr
Stock P/E—Price to Earnings
ROCE1.28%Return on Capital
ROE1.48%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.

Weaknesses

  • −Stock is trading at 2.88 times its book value
  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -48.2% over past five years.
  • −Promoter holding is low: 30.3%
  • −Company has a low return on equity of -2.10% over last 3 years.
  • −Company's cost of borrowing seems high

Shareholding Pattern

Promoters30.27%
FIIs7.85%
DIIs8.52%
Public53.36%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters0%0%0%25.67%▲25.725.83%▲0.225.83%26.27%▲0.430.27%▲4.0
FIIs8.49%8.01%▼0.58.05%▲0.08.25%▲0.28.1%▼0.27.81%▼0.37.61%▼0.27.85%▲0.2
DIIs10.99%13.43%▲2.413.14%▼0.311.76%▼1.411.62%▼0.110.27%▼1.39.33%▼0.98.52%▼0.8
Public80.51%78.56%▼2.078.82%▲0.354.32%▼24.554.45%▲0.156.11%▲1.756.79%▲0.753.36%▼3.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales4333000112
Expenses24141720169791315
Operating Profit-20-11-14-17-16-8-7-8-12-13
OPM %-554%-328%-501%-497%-39800%-28333%-2762%-881%-853%-770%
Net Profit-26-15-169-13-18-6-4-11-12
EPS ₹-0.78-0.45-0.480.28-0.4-0.54-0.19-0.12-0.34-0.37

AI Insights

Revenue Trend

Mar 2026 revenue at ₹4Cr, down 89.7% YoY. OPM at -931%.

Debt Position

Borrowings at ₹6Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 8.52% (+1.52pp change). FIIs: 7.85% (-11.63pp change). Promoters hold 30.27%.

Margin & Efficiency

ROCE declining from 3% (Mar 2015) to -1% (Mar 2026). Working capital days: -7632.

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