RELIGARE

Religare Enterprises Limited

Holding company for health insurer, broking, MSME lending and housing finance arms

Financial Services›Financial Services›Finance›Investment Company

religare.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-19

Stock price
₹216.42
Market cap
7,385 Cr
Stock P/E
149.0
P/B
2.48
ROE (FY26)
2.2%
ROCE (FY26)
2.9%
Operating margin (FY26)
1.0%
Debt / equity (FY26)
0.14

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Religare Enterprises is a Burman Group-promoted holding company whose main operating business is Care Health Insurance, a health insurer, alongside broking and lending subsidiaries.

Company snapshot

9thBy market cap

Ranked among 41 companies in Investment Company.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 93.3% of revenue

SegmentRevenue shareRevenuePBTAssets
Broking Related Activities
4.9%
259 Cr24 Cr—
E-Governance
0.7%
40 Cr6 Cr—
Insurance
93.3%
4,967 Cr19 Cr—
Investment and Financing Activities
1.7%
89 Cr-40 Cr—
Unallocated
0.3%
15 Cr13 Cr—

What we see

Positives
  • ✓Cash flow from operations is higher than reported profit — earnings quality looks solid.
Concerns
  • ✗Net margin is very thin at 0.9% — little room for error if costs rise.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Net Interest Income120 Cr130 Cr146 Cr151 Cr—487 Cr169 Cr182 Cr193 Cr230 Cr251 Cr230 Cr
Other income1 Cr27 Cr19 Cr5 Cr19 Cr6 Cr13 Cr10 Cr18 Cr12 Cr6 Cr5 Cr
Net operating income121 Cr157 Cr165 Cr156 Cr19 Cr492 Cr182 Cr192 Cr211 Cr241 Cr257 Cr235 Cr
Employee cost264 Cr262 Cr292 Cr268 Cr293 Cr288 Cr256 Cr254 Cr295 Cr307 Cr342 Cr324 Cr
Other expenses970 Cr926 Cr977 Cr1,086 Cr1,194 Cr1,135 Cr1,149 Cr1,317 Cr1,391 Cr1,472 Cr1,442 Cr1,710 Cr
Provisions & contingencies————————————
Depreciation18 Cr18 Cr17 Cr16 Cr15 Cr14 Cr17 Cr13 Cr12 Cr11 Cr12 Cr18 Cr
Profit before tax59 Cr41 Cr236 Cr33 Cr67 Cr-79 Cr222 Cr6 Cr57 Cr-103 Cr127 Cr-77 Cr
Tax %31.6%17.6%23.5%17.9%-1.6%19.8%31.9%-42.6%20.1%25.8%24.8%38.8%
Net profit40 Cr34 Cr181 Cr27 Cr68 Cr-63 Cr151 Cr8 Cr46 Cr-77 Cr96 Cr-47 Cr
EPS (₹)₹0.78₹0.61₹3.80₹0.55₹1.55₹-1.30₹3.00₹0.31₹1.17₹-1.37₹2.47₹-0.78

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Net Interest Income135 Cr-215 Cr—-278 Cr-120 Cr504 Cr656 Cr878 CrSign in free for the trailing twelve months
Other income55 Cr42 Cr44 Cr149 Cr187 Cr64 Cr43 Cr34 CrSign in free for the trailing twelve months
Net operating income190 Cr-173 Cr44 Cr-129 Cr67 Cr569 Cr698 Cr912 CrSign in free for the trailing twelve months
Employee cost518 Cr546 Cr586 Cr805 Cr929 Cr1,047 Cr1,105 Cr1,199 CrSign in free for the trailing twelve months
Other expenses1,182 Cr1,380 Cr1,475 Cr2,232 Cr2,840 Cr3,578 Cr4,564 Cr5,621 CrSign in free for the trailing twelve months
Provisions & contingencies————————Sign in free for the trailing twelve months
Depreciation26 Cr61 Cr59 Cr53 Cr56 Cr72 Cr62 Cr47 CrSign in free for the trailing twelve months
Profit before tax-1,504 Cr-1,030 Cr-497 Cr-1,031 Cr3,259 Cr448 Cr243 Cr87 CrSign in free for the trailing twelve months
Tax %0.2%-0.8%3.9%-49.2%2.8%22.4%24.7%16.2%Sign in free for the trailing twelve months
Net profit-1,501 Cr-1,038 Cr-478 Cr-1,539 Cr3,169 Cr347 Cr183 Cr73 CrSign in free for the trailing twelve months
EPS (₹)₹-63.32₹-39.55₹-19.65₹-51.33₹96.06₹7.13₹3.79₹2.59Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital217 Cr258 Cr259 Cr319 Cr324 Cr330 Cr331 Cr333 Cr
Reserves616 Cr-157 Cr38 Cr-1,301 Cr1,734 Cr2,013 Cr2,185 Cr2,575 Cr
Borrowings6,721 Cr5,356 Cr4,890 Cr4,836 Cr729 Cr344 Cr138 Cr401 Cr
Other liabilities1,804 Cr2,580 Cr3,538 Cr5,049 Cr4,687 Cr6,059 Cr7,654 Cr10,227 Cr
Total liabilities9,578 Cr8,130 Cr8,726 Cr9,353 Cr8,094 Cr9,577 Cr11,229 Cr14,506 Cr
Fixed assets (net)29 Cr125 Cr70 Cr77 Cr151 Cr121 Cr114 Cr107 Cr
CWIP0.68 Cr13 Cr0 Cr2 Cr0 Cr0 Cr2 Cr0.0048 Cr
Investments1,438 Cr2,023 Cr3,190 Cr3,836 Cr5,094 Cr6,718 Cr8,700 Cr11,203 Cr
Loans & advances5,056 Cr3,105 Cr2,452 Cr1,276 Cr881 Cr607 Cr431 Cr444 Cr
Inventories0.10 Cr0.47 Cr0.50 Cr0.54 Cr0.33 Cr3 Cr3 Cr2 Cr
Trade receivables346 Cr94 Cr192 Cr230 Cr175 Cr245 Cr85 Cr119 Cr
Cash & bank173 Cr372 Cr251 Cr1,717 Cr205 Cr201 Cr303 Cr588 Cr
Other assets2,536 Cr2,397 Cr2,570 Cr2,215 Cr1,587 Cr1,683 Cr1,592 Cr2,042 Cr
Total assets9,578 Cr8,130 Cr8,726 Cr9,353 Cr8,094 Cr9,577 Cr11,229 Cr14,506 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity3,554 Cr2,433 Cr1,394 Cr1,596 Cr1,506 Cr1,500 Cr1,572 Cr1,820 Cr
Cash from investing-62 Cr-436 Cr-1,187 Cr-689 Cr-939 Cr-1,348 Cr-1,185 Cr-2,176 Cr
Cash from financing-3,786 Cr-1,743 Cr-329 Cr559 Cr-2,079 Cr-156 Cr-285 Cr690 Cr
Net cash flow-294 Cr254 Cr-122 Cr1,466 Cr-1,512 Cr-4 Cr102 Cr334 Cr
Free cash flow (OCF − Capex)3,520 Cr2,408 Cr1,374 Cr1,556 Cr1,466 Cr1,478 Cr1,547 Cr1,807 Cr

Ratios

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %-8.4%-3.3%4.4%-11.8%114.1%15.4%7.8%2.9%
ROE %-122.3%-479.9%-170.7%—115.1%7.3%3.6%2.2%
Debtor days54152826141445
Inventory days00000000
Days payable————————
Cash conversion cycle54152826141545
Debt / equity8.0753.0216.42—0.350.150.050.14
Current ratio————————
Net debt / EBITDA—622.8619.12—1.120.45-0.55-1.38