Overview

Detailed Summary

Religare Enterprises Limited is a listed holding company and core investment company operating a diversified financial-services platform in India through majority stakes in Care Health Insurance (standalone health insurer), Religare Broking (retail broking and e‑governance), Religare Finvest (SME NBFC) and Religare Housing Development Finance Corporation (affordable housing finance).
The board has approved a strategic demerger to transfer the financial services businesses (lending, broking, ancillary services) into Religare Finvest Limited (RFL), with a 1:1 share swap and planned separate listing of RFL; the scheme targets regulatory approvals and a listing timeline of roughly 15–18 months, aiming to unlock value and simplify capital allocation.
Care Health Insurance is the group growth engine: GWP growth accelerated to Rs.7,906 crore for 9M FY26 (full premium basis), Care holds ~22% market share in SAHI, AUM of ~Rs.10,246 crore and solvency ratio of 1.70, while underwriting and operating leverage improved despite a one‑time labor code charge and transition to 1/n premium accounting.
Religare Broking posted resilient revenue and operating recovery with Q3 total income ~Rs.91 crore and improving PBT, assets under custody ~Rs.42,642 crore, while Religare Finvest reports a debt‑free balance sheet, CRAR at 228.2% and ~Rs.500+ crore cash, positioning the lending platform to re‑enter growth once leadership and operational plans are finalised.
Key near‑term risks include legacy litigation (LVB fixed deposit matter) and the accounting transition to 1/n reporting for insurance which depresses reported earned premium and ratios; simultaneously, material opportunities exist from capital infusions, demerger-driven clarity, underpenetrated lending and broking market expansion across digital and e‑governance channels.

Sector: Finance
Industry: NBFC-Holding Companies
Market Cap: 6,726 Cr
Volatility: Moderate Risk
P/E Ratio: 66.6
Industry P/E: 22.9
PEG Ratio: —
P/B Ratio: 2.3
52W High: 314.15
52W Low: 200.50

Sales CAGR

1Y: 17.86%
3Y: -29.39%
5Y: 18.08%
10Y: -28.33%

Profit CAGR

1Y: -47.23%
3Y: —
5Y: —
10Y: —

ROE

TTM: 3.62%
3Y: 37.03%
5Y: 15.32%
10Y: -10.57%

ROCE

TTM: 4.60%
3Y: 45.63%
5Y: 24.90%
10Y: 10.46%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
EDELWEISS	107.95	10,217 Cr	15.60	2.31	1.35	9.62	11.96	1.68
KAMAHOLD	2537.00	8,155 Cr	9.03	1.07	1.33	10.75	19.94	7.68
BENGALASM	6025.00	6,892 Cr	8.17	0.67	0.83	8.05	4.77	2.75
RELIGARE	202.75	6,726 Cr	66.64	2.28	0.00	3.62	4.60	1.03
PILANIINVS	4365.00	4,875 Cr	4004.59	0.29	0.34	0.17	1.38	0.40
RTNINDIA	25.71	3,554 Cr	-8.63	3.44	0.00	-40.63	-16.68	-12.64
NSIL	5610.00	2,899 Cr	116.49	0.18	0.00	0.15	0.23	0.13

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	1,584	1,511	1,856	1,710	1,952	1,664	2,028	1,861	2,064	2,056
Expenses	1,483	1,455	1,833	1,653	1,876	1,730	1,796	1,846	2,003	2,151
Interest	25	24	18	13	13	5.12	5.79	7.33	9.76	8.98
Financing Profit	76	32	4.51	44	63	-71	227	7.97	51	-104
Financing Margin %	4.80	2.09	0.24	2.55	3.23	-4.24	11.17	0.43	2.48	-5.05
Other Income	1.19	27	249	4.88	19	5.81	13	10	18	12
Depreciation	18	18	17	16	15	14	17	13	12	11
Profit Before Tax	59	41	236	33	67	-79	222	5.73	57	-103
Tax %	31.56	17.55	23.46	17.91	-1.57	19.80	31.88	-42.58	20.05	25.75
Net Profit	40	34	181	27	68	-63	151	8.17	46	-77
EPS in Rs	0.75	0.57	3.73	0.54	1.53	-1.29	2.96	0.31	1.14	-1.37
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	3,772	2,524	2,287	2,355	2,492	3,224	4,676	6,235	7,354	7,506
Expenses	1,668	2,845	3,009	2,347	2,244	3,610	4,210	5,917	7,054	7,248
Interest	1,836	1,268	850	849	725	740	628	94	37	31
Financing Profit	267	-1,588	-1,572	-841	-477	-1,126	-161	225	263	227
Financing Margin %	7.08	-62.91	-68.72	-35.72	-19.12	-34.94	-3.45	3.60	3.57	3.02
Other Income	69	211	94	42	38	149	187	64	43	48
Depreciation	31	30	26	61	59	53	56	72	62	59
Profit Before Tax	306	-1,407	-1,504	-860	-497	-1,031	-31	217	243	216
Tax %	-4.27	16.12	0.17	-0.91	3.95	-49.22	-292.47	46.14	24.65	23.89
Net Profit	-123	-1,181	-1,501	-1,038	-478	-1,539	3,169	347	183	165
EPS in Rs	—	—	-49.56	-28.63	-15.32	-48.48	90.90	6.95	3.73	3.04
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	178	178	178	217	258	259	319	324	330	331
Reserves	3,660	2,549	1,658	616	-157	-307	-1,301	1,734	2,013	2,185
Borrowings	15,872	11,075	9,945	6,717	5,356	4,890	4,836	729	344	138
Other Liabilities	7,719	7,236	2,081	2,023	2,673	3,883	5,510	5,307	6,890	8,575
Total Liabilities	27,429	21,038	13,862	9,573	8,130	8,726	9,364	8,094	9,577	11,229
Fixed Assets	1,785	103	80	83	175	117	127	196	161	145
CWIP	4.11	12	11	14	13	12	2.22	5.34	5.56	8.06
Investments	0.00	0.00	1,197	1,438	2,023	3,190	3,836	5,094	6,718	8,700
Other Assets	25,640	20,923	12,574	8,038	5,919	5,407	5,399	2,799	2,693	2,376
Total Assets	27,429	21,038	13,862	9,573	8,130	8,726	9,364	8,094	9,577	11,229

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-2,154	5,871	5,802	3,555	2,433	1,373	1,596	1,506	1,500	1,572
Cash from Investing Activity	494	2,154	-457	-31	-436	-1,181	-689	-939	-1,348	-1,185
Cash from Financing Activity	1,853	-7,696	-6,455	-3,819	-1,743	-314	559	-2,079	-156	-285
Net Cash Flow	193	328	-1,110	-295	254	-122	1,466	-1,512	-4.20	102

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 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%	19.47%	11.75%	9.89%	7.91%	8.49%	8.01%	8.04%	8.25%	8.10%	7.80%	7.61%
DIIs	7.54%	7.12%	7.94%	7.86%	8.20%	10.99%	13.43%	13.14%	11.76%	11.62%	10.27%	9.32%
Public	74.16%	73.40%	80.31%	82.25%	83.89%	80.52%	78.56%	78.82%	54.32%	54.45%	56.10%	56.79%
Total Shareholders	59,292	57,939	61,535	69,311	84,527	83,050	79,946	80,236	74,213	74,058	85,873	81,959

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Actions

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Announcements

Last 7 days

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Sentiment

Regulatory Notice

1 day ago

IRDAI Show‑Cause Notice to Care Health (Religare subsidiary)

Religare Enterprises reports its material subsidiary Care Health Insurance Ltd received an IRDAI show‑cause notice dated 02‑Mar‑2026 alleging breaches of multiple 2024 IRDAI circulars/regulations; CHIL is preparing a reply and taking remedial steps, and states no material impact on REL.

Regulatory Filing

1 day ago

IRDAI Show‑Cause Notice to Care Health Insurance (Religare subsidiary)

Religare Enterprises reports its material subsidiary Care Health Insurance Ltd received an IRDAI show‑cause notice (dated Mar 2, 2026) from a Feb 2025 onsite inspection alleging violations of IRDAI master circulars; CHIL is preparing a reply and taking remedial steps and there is no material impact on REL.

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Frequently Asked Questions about Religare Enterprises Ltd

Religare Enterprises Ltd (RELIGARE) is currently trading at 202.30 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Religare Enterprises Limited is a listed holding company and core investment company operating a diversified financial-services platform in India through majority stakes in Care Health Insurance (standalone health insurer), Religare Broking (retail broking and e‑governance), Religare Finvest (SME NBFC) and Religare Housing Development Finance Corporation (affordable housing finance). The board has approved a strategic demerger to transfer the financial services businesses (lending, broking, ancillary services) into Religare Finvest Limited (RFL), with a 1:1 share swap and planned separate listing of RFL; the scheme targets regulatory approvals and a listing timeline of roughly 15–18 months, aiming to unlock value and simplify capital allocation. Care Health Insurance is the group growth engine: GWP growth accelerated to Rs.7,906 crore for 9M FY26 (full premium basis), Care holds ~22% market share in SAHI, AUM of ~Rs.10,246 crore and solvency ratio of 1.70, while underwriting and operating leverage improved despite a one‑time labor code charge and transition to 1/n premium accounting. Religare Broking posted resilient revenue and operating recovery with Q3 total income ~Rs.91 crore and improving PBT, assets under custody ~Rs.42,642 crore, while Religare Finvest reports a debt‑free balance sheet, CRAR at 228.2% and ~Rs.500+ crore cash, positioning the lending platform to re‑enter growth once leadership and operational plans are finalised. Key near‑term risks include legacy litigation (LVB fixed deposit matter) and the accounting transition to 1/n reporting for insurance which depresses reported earned premium and ratios; simultaneously, material opportunities exist from capital infusions, demerger-driven clarity, underpenetrated lending and broking market expansion across digital and e‑governance channels.

Over the past 52 weeks, Religare Enterprises Ltd has traded between a low of ₹200.50 and a high of ₹314.15. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Religare Enterprises Ltd has a market capitalization of approximately 6,726.05. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Religare Enterprises Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 66.64 and operates in the Finance sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 6,726.05 Cr, Religare Enterprises Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Religare Enterprises Ltd operates in the Finance sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Religare Enterprises Ltd is 66.64. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Religare Enterprises Ltd

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