Rishabh Instruments Ltd
Rishabh Instruments limited, with an experience of nearly three decades is an organization that has built its core competence in manufacturing, design and development of Test and Measuring Instruments and Industrial Control Products on strong fundamentals; in terms of people, infrastructure and financials. The company provides a hands-on, value driven, professional environment considering people its most important asset.[1]
Strengths
- +Company has reduced debt.
- +Company is almost debt free.
Weaknesses
- −Stock is trading at 4.20 times its book value
- −Though the company is reporting repeated profits, it is not paying out dividend
- −Company has a low return on equity of 8.03% over last 3 years.
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 70.16% | 70.16% | 70.16% | 70.15%▼0.0 | 69.81%▼0.3 | 69.81% | 69.67%▼0.1 | 69.55%▼0.1 |
| FIIs | 0.11% | 0.12%▲0.0 | 0.11%▼0.0 | 0.17%▲0.1 | 0.05%▼0.1 | 0.35%▲0.3 | 0.24%▼0.1 | 0.1%▼0.1 |
| DIIs | 13.34% | 13.2%▼0.1 | 13.45%▲0.3 | 13.09%▼0.4 | 12.42%▼0.7 | 12.01%▼0.4 | 12.57%▲0.6 | 11.72%▼0.8 |
| Public | 16.41% | 16.53%▲0.1 | 16.29%▼0.2 | 16.59%▲0.3 | 17.7%▲1.1 | 17.83%▲0.1 | 17.52%▼0.3 | 18.63%▲1.1 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 62.89 | 45.81 | 59.08 | 52.69 | 58.87 | 59.24 | 68.39 | 61.78 | 66.01 | 61.05 |
| Expenses | 48.31 | 40.49 | 46.87 | 46.62 | 49.86 | 53.33 | 54.37 | 47.51 | 48.81 | 48.19 |
| Operating Profit | 14.58 | 5.32 | 12.21 | 6.07 | 9.01 | 5.91 | 14.02 | 14.27 | 17.2 | 12.86 |
| OPM % | 23.18% | 11.61% | 20.67% | 11.52% | 15.3% | 9.98% | 20.5% | 23.1% | 26.06% | 21.06% |
| Net Profit | 10.16 | 8.95 | 4.23 | 3.71 | 6.82 | 3.99 | 8.86 | 9.88 | 12.64 | 8.41 |
| EPS ₹ | 2.68 | 2.35 | 1.11 | 0.97 | 1.78 | 1.04 | 2.31 | 2.57 | 3.29 | 2.19 |
AI Insights
TTM revenue at ₹257Cr, up 7.5% YoY. OPM at 23%.
Borrowings at ₹4Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.
CWIP at ₹24Cr (36% of fixed assets). Significant capex underway — growth runway building.
DIIs: 11.72% (-4.83pp change). FIIs: 0.1% (-1.56pp change). Promoters hold 69.55%.
ROCE improving from 0% (Mar 2020) to 8% (Mar 2025). Working capital days: 169.
PE 45.3x with 8.2% ROCE. Price is 314% above book value of ₹113. Dividend yield: 0%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Change in Management 2m - Board approved Dineshkumar Musalekar’s redesignation as Managing Director from May 18, 2026, subject to AGM approval.
- Corporate Action-Board approves Dividend 37m
- Announcement under Regulation 30 (LODR)-Investor Presentation 50m
- Outcome Of The Board Meeting Held On May 18, 2026 - Regulation 30 And 33, Read With Schedule III Of SEBI (LODR), 2015 56m - Board approved FY26 audited results, Rs.2 final dividend, and auditor appointments on May 18, 2026.
- Board Meeting Outcome for Outcome Of The Board Meeting Held On May 18, 2026 - Regulation 30 And 33, Read With Schedule III Of SEBI (LODR), 2015 1h - Board approved FY26 audited results, Rs.2 final dividend, and auditor appointments on May 18, 2026.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Rating update 2 Mar from crisil