Ravindra Energy Limited (RELTD)

Loading page…

Ravindra Energy Limited (RELTD) · mywealthgrid

About

Ravindra Energy Limited manufactures electrical equipment components in India's Industrials sector with market cap ₹3,269 crore. Operates through standalone and consolidated entities. Recent quarters show significant revenue and margin volatility, typical of equipment makers serving cyclical industrial demand.

Face value: ₹10

Market cap

₹2,918 Cr

P/E

50.2×

P/B

6.4×

Dividend yield

ROE

19%

ROCE

13.6%

Debt / equity

1.22

OPM

22.9%

EPS (TTM)

₹3.3

Book value

₹23.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE of 40.44 leaves limited cushion for earnings shortfalls against current price.
Margin volatility: 7.25% to 30.95% across recent quarters; verify drivers (project mix, input costs, pricing, execution) and persistence.
Moderate leverage (D/E 1.19); verify debt maturity, covenant headroom, refinancing needs if rates rise.
Weak institutional ownership (FII 3.27%, DII 2.99%) vs. promoter 58.26%; verify if valuation skepticism or sector concerns.

Generated analysis · source review pending

Growth drivers

Rights issuance in June 2026 signals capital raise; verify deployment (capacity expansion, debt reduction, new markets).
Peak quarterly profit 31.72 Cr (Sep 2025, consolidated) demonstrates earnings capability; verify if order-cycle-driven or sustained.
ROE of 21.23% exceeds typical cost of capital; verify consistency across business cycles and operational drivers.
52-week range ₹119.75–₹183.08 with 1y return 14.15% reflects investor interest; verify if fundamentals or multiple re-rating.

Generated analysis · source review pending

2,228 historical price candles were omitted because the exchange source has not been verified.

₹147.0-1.4%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 22.9%
+Profit CAGR of 65.2% over the last 5 years

Cons

−Low return on equity of -2.6% (3-yr avg)
−Revenue shrank over the last 5 years (-4.8% a year)
−Promoter holding fell 6.5 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

40/100

Business quality: 40
Growth: 50
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Apar Industries LimitedAPARINDSAPARINDS	₹70,945 Cr	₹71,785 Cr	₹24,389 Cr	₹2,159 Cr	8.2%	₹1,182 Cr	4.3%	32.6%	19.7%	30
Waaree Energies LimitedWAAREEENERWAAREEENER	₹67,322 Cr	₹69,813 Cr	₹30,043 Cr	₹6,351 Cr	22.3%	₹2,763 Cr	14.6%	39.7%	30.9%	95
Premier Energies LimitedPREMIERENEPREMIERENE	₹39,863 Cr	₹43,480 Cr	₹8,466 Cr	₹2,543 Cr	30.4%	₹1,665 Cr	19.3%	36.3%	42.4%	115
Mtar Technologies LimitedMTARTECHMTARTECH	₹24,015 Cr	₹24,384 Cr	₹1,080 Cr	₹228 Cr	19.5%	₹133 Cr	10.7%	17.2%	12.1%	419
Emmvee Photovoltaic Power LimitedEMMVEEEMMVEE	₹21,177 Cr	₹21,355 Cr	₹5,578 Cr	₹1,932 Cr	34.3%	₹1,274 Cr	21.4%	43.6%	51.1%	159
Diamond Power Infrastructure LimitedDIACABSDIACABS	₹18,182 Cr	₹20,711 Cr	₹2,298 Cr	₹270 Cr	11.7%	₹197 Cr	8.3%	12.4%	—	93
Avalon Technologies LimitedAVALONAVALON	₹15,232 Cr	₹15,415 Cr	₹1,764 Cr	₹201 Cr	10.8%	₹134 Cr	7.1%	23.4%	16.9%	160
Fujiyama Power Systems LimitedUTLSOLARUTLSOLAR	₹12,327 Cr	₹12,788 Cr	₹3,403 Cr	₹639 Cr	18.5%	₹294 Cr	11.5%	29.6%	23.9%	123
Genus Power Infrastructures LimitedGENUSPOWERGENUSPOWER	₹8,518 Cr	₹10,817 Cr	₹5,173 Cr	₹973 Cr	19.2%	₹652 Cr	12.5%	31%	29%	188
Waaree Renewable Technologies LimitedWAAREERTLWAAREERTL	₹8,436 Cr	₹8,517 Cr	₹3,652 Cr	₹697 Cr	19.2%	₹511 Cr	14.4%	84.1%	68.9%	37
Ram Ratna Wires LimitedRAMRATRAMRAT	₹5,752 Cr	₹6,407 Cr	₹6,047 Cr	₹310 Cr	5.1%	₹127 Cr	2.1%	30.4%	20.1%	33
Vikram Solar LimitedVIKRAMSOLRVIKRAMSOLR	₹5,594 Cr	₹5,694 Cr	₹5,232 Cr	₹800 Cr	19.1%	₹357 Cr	9.8%	31.4%	21.3%	11

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	493	621	518	719	765	253	131	250	564
COGS	413	560	459	624	710	195	59	154	281
Gross profit	80	61	59	95	55	58	72	96	283
	102	88	259	71	62	44	39	55	162
	-21	-27	-200	24	-7	13	33	41	121
OPM %	-4.3%	-4.3%	-38.7%	3.4%	-0.9%	5.3%	25.2%	16.4%	21.5%
Depreciation	1	1	7	7	9	11	13	11	29
Interest	—	—	33	43	18	13	16	10	35
	15	28	39	63	66	33	-49	6	13
Profit before tax	-8	1	-202	9	32	22	-46	26	70
Tax	1	3	12	4	-5	5	5	4	-2
Tax %	15.5%	300%	5.8%	38.6%	-16.1%	23.3%	10.9%	15.9%	-2.2%
	-9	-2	-213	6	37	17	-51	22	71
PAT margin %	-1.8%	-0.3%	-41.2%	0.8%	4.8%	6.6%	-38.9%	8.7%	12.7%
EPS (₹)	-0.8	-0.2	-17.9	0.5	2.9	1.2	—	1.3	4
EPS adjusted (₹)	—	-0.2	-17.8	0.5	2.4	1.1	-3.3	1.2	4
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	118	118	120	120	120	134	138	154	179	179
Reserves	119	-33	-141	-133	-82	19	—	-7	160	233
Minority interest	—	—	—	—	—	—	—	17	15	17
	292	312	351	365	168	164	—	148	190	502
	283	243	235	150	194	135	—	91	107	188
Total equity & liabilities	812	641	564	501	400	453	—	404	651	1,119
	196	162	176	178	174	190	187	257	318	858
CWIP	0	4	1	1	1	3	—	24	129	8
Investments	121	4	25	0	0	0	—	0	48	41
	494	471	362	323	225	260	—	123	156	212
Total assets	812	641	564	501	400	453	—	404	651	1,119

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Solar	541.76	121.84	1,110.67	686.89	423.78	28.75
Trading	21.97	-5

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2017	Mar 2019	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	9.8%	11.3%	13.2%	7.2%	22.9%	55%	38.5%	50.2%
EBITDA margin %	-4.3%	-38.7%	3.4%	-0.9%	5.3%	25.2%	16.9%	22.9%
EBIT margin %	-4.4%	-40%	2.4%	-2.1%	0.8%	15%	12.4%	17.7%
PAT margin %	-0.3%	-41.2%	0.8%	4.8%	6.6%	-38.9%	8.7%	12.7%
Working capital
Receivable days	175	192	108	66	—	176	25	26
Inventory days	1	4	5	1	—	18	10	20
Payable days	99	42	55	18	—	253	65	16
NWC days	76	154	58	48	—	-59	-30	30
Leverage
Current ratio	—	—	—	—	—	1.21	2.53	3.18
Debt to EBITDA	—	—	14.99	—	—	4.48	4.47	3.89
Debt to equity	1.23	-16.25	-27.63	1.07	—	1	0.56	1.22
Interest coverage	—	-5	1.9	3	2.6	2.1	4.3	3.2
Asset turnover	0.76	0.92	1.44	1.69	—	0.32	0.38	0.5
Return ratios
Return on assets %	-0.3%	-37.8%	1.2%	8.1%	—	-12.6%	3.3%	6.4%
Return on capital employed %	—	—	—	—	—	11.2%	9.4%	13.6%
Return on equity %	-0.9%	988.5%	-44.1%	23.8%	—	-34.5%	6.4%	17.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.99%	74.99%	74.99%	74.99%	64.77%	64.77%	64.77%	64.77%	64.77%	64.77%	63.66%	58.26%
	0%	0.07%	0.08%	0.08%	3.21%	3.19%	3.21%	2.97%	2.59%	2.08%	1.98%	3.27%
	0%	0%	0%	0%	0%	1.36%	1.36%	1.91%	1.91%	1.91%	2.81%	2.99%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.01%	24.94%	24.93%	24.93%	32.02%	30.68%	30.66%	30.35%	30.73%	31.24%	31.55%	35.48%
No. of shareholders	—	—	—	—	—	—	—	—	82,575	81,909	80,815	82,798

Promoter holding down 16.73 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
MISS. ARYAA ROJEKARImmediate relative	SellGift	2,50,000	₹3.99 cr	0.28% → 0.14%	2 Oct 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

3 deals · 21 Feb 2024 – 1 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
1 Jun 2026	KHANDEPAR INVESTMENTS PRIVATE LIMITED	Bulk	NSE	Sell	22,00,000	₹118.92	₹26.16 Cr
27 Mar 2026	KHANDEPAR INVESTMENTS PRIVATE LIMITED	Bulk	NSE	Sell	11,05,193	₹125.03	₹13.82 Cr
21 Feb 2024	ROMARSOL LIMITED	Bulk	BSE	Sell	10,00,000	₹85.81	₹8.58 Cr

1–3 of 3

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mrs. Vidya MurkumbiExecutive Director-Chairperson related to Promoter
Mr. Shantanu LathExecutive Director-CEO
Mr. Narendra MurkumbiNon-Executive - Non Independent Director
Mr. Sidram KalutiNon-Executive - Non Independent Director
Mr. Ramesh AbhishekNon-Executive - Independent Director
Mr. Vinay NamjoshiNon-Executive - Independent Director
Mrs. Poonam LahotyNon-Executive - Independent Director
Mr. Apurva ChandraNon-Executive - Independent Director
Shantanu LathChief Executive Officer
Mr. Vikas PawarChief Financial Officer
Mr. Madhukar ShipurkarCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

2.97%

of the company's equity

All mutual funds

2.97%

shareholding pattern, Jun 2026

Portfolios as of

July 2026

compared with June 2026

3 schemes

		Shares
Manufacturing Fund	quant Mutual Fund	28.65 L	48.12	6.46%	1.443%	-0
Small Cap Fund	quant Mutual Fund	27.09 L	45.5	0.13%	1.365%	-0
Infrastructure Fund	quant Mutual Fund	3.3 L	5.54	0.18%	0.166%	-0

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

1

Final dividend6 Sept 2012 · ex-date₹1

1

Board meeting to consider results14 Aug 2026

1

Right Issue of Equity Shares8 Jun 2026 · ex-date

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

39 announcementsExport CSV

29 Sept 2026, 11:59 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 10:49 pmCompany Update

Announcement under Regulation 30 (LODR)-Investor Presentation

Investor Presentation PDF

29 Sept 2026, 8:17 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Directorate

Change in Directorate PDF

29 Sept 2026, 8:11 pmCompany Update

Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association

Amendments to Memorandum & Articles of Association PDF

29 Sept 2026, 8:05 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

28 Sept 2026, 9:11 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

28 Sept 2026, 7:32 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

11 Sept 2026, 6:46 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
29 Sept 2026, 11:59 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
29 Sept 2026, 10:49 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation

Loading announcements…

Ratio	Mar 2017	Mar 2019	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	9.8%	11.3%	13.2%	7.2%	22.9%	55%	38.5%	50.2%
EBITDA margin %	-4.3%	-38.7%	3.4%	-0.9%	5.3%	25.2%	16.9%	22.9%
EBIT margin %	-4.4%	-40%	2.4%	-2.1%	0.8%	15%	12.4%	17.7%
PAT margin %	-0.3%	-41.2%	0.8%	4.8%	6.6%	-38.9%	8.7%	12.7%
Working capital
Receivable days	175	192	108	66	—	176	25	26
Inventory days	1	4	5	1	—	18	10	20
Payable days	99	42	55	18	—	253	65	16
NWC days	76	154	58	48	—	-59	-30	30
Leverage
Current ratio	—	—	—	—	—	1.21	2.53	3.18
Debt to EBITDA	—	—	14.99	—	—	4.48	4.47	3.89
Debt to equity	1.23	-16.25	-27.63	1.07	—	1	0.56	1.22
Interest coverage	—	-5	1.9	3	2.6	2.1	4.3	3.2
Asset turnover	0.76	0.92	1.44	1.69	—	0.32	0.38	0.5
Return ratios
Return on assets %	-0.3%	-37.8%	1.2%	8.1%	—	-12.6%	3.3%	6.4%
Return on capital employed %	—	—	—	—	—	11.2%	9.4%	13.6%
Return on equity %	-0.9%	988.5%	-44.1%	23.8%	—	-34.5%	6.4%	17.3%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-47	60	55	16	-29	53	19	122	61	72	166
	9	32	-116	-70	57	1	-23	-30	-81	-160	-437
	16	-75	55	66	-27	-58	-13	-85	22	210	278
Net cash flow	-22	17	-7	12	2	-4	-17	7	2	122	7
Free cash flow	—	—	—	—	—	—	—	85	-15	-105	-281
CFO / Operating profit %	—	—	—	—	-118.3%	—	—	902.7%	184.2%	169.6%	128.9%

Ravindra Energy Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

1

1

Announcements

Not in the F&O segment

1

1

1

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Solar · revenue

Ravindra Energy Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends1

Board meetings1

Rights issues1

Announcements

Ratio timeline

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Not in the F&O segment

Dividends1

Board meetings1

Rights issues1

Announcements

Annual reports

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Solar · revenue

1

1

1

1

1

1