Religare Enterprises Limited (IN:RELIGARE)
:RELIGARE
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Religare Enterprises Limited
(RELIGARE)
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Rating:57Neutral
Price Target:
₹230.00
▼(-7.74% Downside)
Action:Reiterated
Date:05/18/26
The score is primarily supported by improving financial health and strong cash generation, but is held back by volatile profitability (including negative operating profit in FY2026). Technicals are mixed with the stock below longer-term averages, and valuation is penalized by a negative P/E and lack of dividend yield data.
Positive Factors
Free Cash Flow Strength
Surging free cash flow in FY2026 indicates durable cash generation capacity. Strong FCF supports debt reduction, working capital and reinvestment without reliance on equity raises, improving long-term financial flexibility and funding optionality for strategic initiatives or capital needs.
Negative Factors
Negative Operating Profit
A swing to negative operating profit in FY2026 signals structural pressure on core operations or cost base misalignment versus revenue. Persistent operating losses would erode cash flow resilience, limit reinvestment capacity and question sustainability of the current business model.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Surging free cash flow in FY2026 indicates durable cash generation capacity. Strong FCF supports debt reduction, working capital and reinvestment without reliance on equity raises, improving long-term financial flexibility and funding optionality for strategic initiatives or capital needs.
Read all positive factors
Religare Enterprises Limited (RELIGARE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹72.70B
Dividend YieldN/A
Average Volume (3M)55.94K
Price to Earnings (P/E)78.0
Beta (1Y)0.49
Revenue Growth13.85%
EPS Growth-31.56%
CountryIN
Employees13,000
SectorFinancial
Sector Strength70
IndustryFinancial - Diversified
Share Statistics
EPS (TTM)3.18
Shares Outstanding332,890,470
10 Day Avg. Volume70,962
30 Day Avg. Volume55,941
Financial Highlights & Ratios
PEG Ratio-2.47
Price to Book (P/B)2.31
Price to Sales (P/S)0.80
P/FCF Ratio2.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Religare Enterprises Limited Business Overview & Revenue Model
Company Description
Religare Enterprises Limited operates as an investment company in India and internationally. The company provides broking services in equities, currencies, and commodities; depository participant services; tax information network and income tax pe...
How the Company Makes Money
null...
Religare Enterprises Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
64
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 60.06B | 84.31B | 73.18B | 61.91B | 43.19B | 31.89B |
| Gross Profit | 55.88B | 67.52B | 48.64B | 40.74B | 36.93B | 24.49B |
| EBITDA | 2.23B | 1.34B | 3.39B | 6.10B | 39.41B | -2.38B |
| Net Income | 1.05B | 859.58M | 1.25B | 2.33B | 869.31M | -15.44B |
Balance Sheet | ||||||
| Total Assets | 125.05B | 145.06B | 112.29B | 95.77B | 80.94B | 93.53B |
| Cash, Cash Equivalents and Short-Term Investments | 10.26B | 17.03B | 10.87B | 10.72B | 7.98B | 25.26B |
| Total Debt | 3.19B | 4.93B | 2.33B | 4.43B | 8.41B | 49.37B |
| Total Liabilities | 85.56B | 106.28B | 77.92B | 64.08B | 54.16B | 98.85B |
| Stockholders Equity | 29.06B | 29.08B | 25.16B | 23.43B | 20.58B | -9.82B |
Cash Flow | ||||||
| Free Cash Flow | 2.47B | 25.80B | 15.47B | 14.78B | 14.66B | 15.56B |
| Operating Cash Flow | 2.55B | 25.93B | 15.72B | 15.00B | 15.06B | 15.96B |
| Investing Cash Flow | -8.46B | -29.04B | -11.85B | -13.48B | -9.39B | -6.89B |
| Financing Cash Flow | 5.11B | 6.45B | -2.85B | -1.56B | -20.79B | 5.59B |
Religare Enterprises Limited Technical Analysis
Positive
249.30
Price Trends
220.46
Positive
229.43
Negative
241.01
Negative
Market Momentum
0.46
Positive
54.88
Neutral
40.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RELIGARE, the sentiment is Positive. The current price of 249.3 is above the 20-day moving average (MA) of 223.64, above the 50-day MA of 220.46, and above the 200-day MA of 241.01, indicating a neutral trend. The MACD of 0.46 indicates Positive momentum. The RSI at 54.88 is Neutral, neither overbought nor oversold. The STOCH value of 40.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:RELIGARE.
Religare Enterprises Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹277.29B | 16.16 | ― | 1.88% | -1.82% | -22.50% | |
68 Neutral | ₹107.60B | 16.52 | ― | ― | -4.69% | -21.54% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | ₹123.38B | 11.48 | ― | 2.93% | -8.15% | 225.18% | |
61 Neutral | ₹501.95B | -42.87 | ― | 0.57% | 12.44% | -25.58% | |
57 Neutral | ₹72.70B | 78.05 | ― | ― | 13.85% | -31.56% | |
56 Neutral | ₹104.50B | 17.80 | ― | 1.37% | 14.15% | 43.84% |
* Financial Sector Average
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Religare Enterprises Limited Corporate Events
Religare Enterprises Releases Investor Presentation Ahead of FY2026 Earnings Call
May 12, 2026
Religare Enterprises Limited has released an investor presentation ahead of its earnings call scheduled for May 13, 2026, to discuss the operational and financial performance for the quarter and full year ended March 31, 2026. The presentation has...
Religare Elevates CFO Pankaj Rathi to Executive Director at Housing Finance Arm
May 8, 2026
Religare Housing Development Finance Corporation Limited, a step-down subsidiary of Religare Enterprises, has elevated its Chief Financial Officer, Pankaj Rathi, to the role of Additional Director and Whole-Time Director, designated as Executive D...
Religare’s Care Health Insurance names Ajay Kumar Shah MD & CEO
Apr 26, 2026
Religare Enterprises has announced that its material subsidiary Care Health Insurance Limited has appointed Ajay Kumar Shah as Managing Director and CEO for a five-year term starting April 26, 2026, following board and committee approval and subje...
Religare Elevates Manish Dodeja to Whole-Time Director at Care Health Insurance
Apr 26, 2026
Religare Enterprises has announced that the board of its material subsidiary, Care Health Insurance Limited, has appointed Manish Vishnu Dodeja as Whole-time Director, designated as Executive Director, for a five-year term starting April 26, 2026,...
Religare announces end of Care Health Insurance CEO Anuj Gulati’s tenure
Apr 26, 2026
Religare Enterprises has announced that the tenure of Mr. Anuj Gulati as Managing Director and CEO of its material subsidiary Care Health Insurance Limited ended at the close of business on April 25, 2026. The board formally recorded its appreciat...
Religare Publishes EGM Notices, Confirms May 5 Virtual Meeting
Apr 11, 2026
Religare Enterprises Limited has notified the stock exchanges that it has published newspaper advertisements regarding its upcoming Extra-Ordinary General Meeting to be held on May 5, 2026 at 11:00 a.m. IST. The meeting will be conducted through v...
Religare calls May 5 EGM to seek shareholder nod to shift registered office to Haryana
Apr 11, 2026
Religare Enterprises Limited has called an Extraordinary General Meeting of shareholders for May 5, 2026, to be held via video conferencing and other audio-visual means, with remote e-voting and e-voting facilities provided through KFin Technologi...
Religare Grants 22,692 Stock Options Under ESOP 2019
Mar 30, 2026
Religare Enterprises Limited has granted 22,692 stock options under its Employee Stock Option Plan 2019 to eligible employees, in line with SEBI’s share-based employee benefits regulations. Each option is convertible into one equity share wi...
Religare Subsidiary Faces Rs 140 Crore Tax Demand, Plans Appeal and Rectification
Mar 18, 2026
Religare Enterprises has disclosed that its material subsidiary Care Health Insurance Limited has received two income tax assessment and demand orders from the Mumbai tax authorities for assessment years 2023-24 and 2024-25, raising a cumulative d...
Religare Subsidiary Care Health Insurance Gets IRDAI Show-Cause Notice
Mar 3, 2026
Care Health Insurance Limited, a material subsidiary of Religare Enterprises, has received a show-cause notice from the Insurance Regulatory and Development Authority of India following a thematic onsite inspection conducted in February 2025. The ...
Religare Publishes Q3 and 9M FY26 Earnings Call Transcript
Feb 20, 2026
Religare Enterprises Limited has released the official transcript of its Q3 and nine‑month FY 2026 earnings conference call held on February 16, 2026. The call covered the company’s operational and financial performance for the quarter...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.