Rishabh Instruments Limited (RISHABH)

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Rishabh Instruments Limited (RISHABH) · mywealthgrid

About

Rishabh Instruments Limited manufactures electrical equipment in India's Industrials sector, operating in Other Electrical Equipment category. With market cap ₹2,503.79 Cr and recent quarterly consolidated revenue around ₹200 Cr, it is mid-cap operation. Company maintains operating margins 16–17% consolidated recent quarters, minimal leverage (D/E 0.1), and consistent quarterly net profit ₹19–20 Cr.

Face value: ₹10

Market cap

₹2,697 Cr

P/E

34.4×

P/B

3.6×

Dividend yield

0.3%

ROE

12%

ROCE

14.5%

Debt / equity

0.1

OPM

16.3%

EPS (TTM)

₹20.3

Book value

₹193.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation stretched: PE 31.93 reflects 126% 12-month return; verify what fundamentals justified rerating and whether momentum sustains
Growth stalled: Jun 2026 consolidated revenue ₹198.28 Cr grew only 4.2% YoY (vs ₹190.33 Cr Jun 2025); verify if market demand, competition, or supply constraints limit expansion
Margin volatility: consolidated OPM ranges 14.92%–17.09% across recent quarters while standalone swings 16.25%–23.11%; verify whether divergence reflects cyclical order timing or structural portfolio differences
Institutional adoption thin: FII holdings 1.18% (Jun 2026) negligible; verify reasons for weak external capital interest

Generated analysis · source review pending

Growth drivers

Operating margin expanded 188 basis points YoY to 16.8% consolidated (Jun 2026 from 14.92% Jun 2025): if sustained through operational efficiency, could amplify earnings even as revenue growth stays modest
Standalone operating margins peak 23.11% while consolidated recent runs 16.8%: verify if gap reflects temporary product/geographic mix or structural underperformance in consolidated entities that could normalize upward
Quarterly revenue stable ₹183–205 Cr consolidated (Dec 2025–Jun 2026): verify whether recent corporate events (dividend 2026-07-24, results 2026-08-14) reflect new contract wins or order intake signaling volume inflection
Low leverage (D/E 0.1) provides balance-sheet capacity for strategic capex or acquisitions if product-line or market-consolidation opportunities emerge in electrical equipment

Generated analysis · source review pending

750 historical price candles were omitted because the exchange source has not been verified.

₹698.8-3.5%1Y

Quick read

rule-based

Pros

+Profit CAGR of 17.9% over the last 3 years
+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 20.2×
+High promoter holding of 69.4% with no pledge

Cons

−Low return on equity of 8.1% (3-yr avg)
−Low dividend payout of 9.8% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

55/100

Business quality: 59
Growth: 60
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

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	570	690	720	775
COGS	256	290	301	294
Gross profit	313	400	419	481
	237	329	371	355
	76	71	48	126
OPM %	13.4%	10.3%	6.7%	16.3%
Depreciation	20	28	27	36
Interest	5	4	6	6
	10	12	15	21
Profit before tax	61	51	30	106
Tax	11	11	9	24
Tax %	18.2%	21.9%	29.6%	22.4%
	50	40	21	82
PAT margin %	8.7%	5.8%	2.9%	10.6%
EPS (₹)	—	10.7	5.9	21.2
EPS adjusted (₹)	17	10.4	5.9	21.1
	—	0%	0%	9.4%
Annual report	—	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	15	29	38	38	39
Reserves	—	372	521	573	706
Minority interest	—	8	5	3	4
	—	103	55	96	74
	—	137	162	176	179
Total equity & liabilities	—	649	780	886	1,003
	220	219	265	311	371
CWIP	—	8	12	24	41
Investments	—	0	0	0	0
	—	422	503	552	591
Total assets	—	649	780	886	1,003

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	28	76	65	108
	-3	-132	-82	-117
	-5	23	37	-28
Net cash flow	20	-33	21	-37
Free cash flow	-3	7	-11	-2
CFO / Operating profit %	36.2%	106.9%	134.1%	85.8%

Compounded sales growth

7 years: —
5 years: —
3 years: 11%
1 year: 8%

Compounded profit growth

7 years: —
5 years: —
3 years: 18%
1 year: 288%

Return on equity

7 years: —
5 years: —
3 years: 7%
Last year: 11%

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 %
Europe	526.84	0	321.31	0	321.31	0
Asia	192.3	0	141.88

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	55%	58%	58.2%	62.1%
EBITDA margin %	13.4%	10.3%	6.7%	16.3%
EBIT margin %	9.8%	6.3%	2.9%	11.7%
PAT margin %	8.7%	5.8%	2.9%	10.6%
Working capital
Receivable days	77	68	68	62
Inventory days	219	220	196	214
Payable days	118	99	99	92
NWC days	178	189	166	184
Leverage
Current ratio	2.04	2.66	2.94	3.02
Debt to EBITDA	1.35	0.77	1.98	0.59
Debt to equity	0.26	0.1	0.16	0.1
Interest coverage	12.8	13.5	6.5	20.2
Asset turnover	0.88	0.88	0.81	0.77
Return ratios
Return on assets %	7.7%	5.1%	2.4%	8.2%
Return on capital employed %	14.7%	10.6%	5.5%	14.5%
Return on equity %	12.4%	7.1%	3.5%	11%

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.

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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
	70.68%	70.68%	70.25%	70.16%	70.16%	70.16%	70.15%	69.81%	69.81%	69.67%	69.55%	69.4%
	1.66%	2.1%	0.3%	0.11%	0.12%	0.11%	0.17%	0.05%	0.35%	0.24%	0.1%	1.18%
	16.56%	14.71%	14.52%	13.34%	13.2%	13.45%	13.09%	12.42%	12.01%	12.57%	11.73%	11.21%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	11.1%	12.51%	14.93%	16.39%	16.52%	16.28%	16.59%	17.72%	17.83%	17.52%	18.62%	18.21%
No. of shareholders	—	—	—	—	—	—	—	—	35,765	33,805	32,231	30,707

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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.

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Fund holders

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

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

3.49%

of the company's equity

All mutual funds

8.4%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	13.47 L	95	0.12%	3.489%	-0

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Documents

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

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPTREC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

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

1

Final dividend24 Jul 2026 · ex-date₹2

1

Board meeting to consider results14 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

22 announcementsExport CSV

14 Aug 2026, 5:05 pmCompany Update

Statement On Deviation Or Variation Of Funds Under Regulation 32 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

Reg. 32 (1), (3) - Statement of Deviation & Variation PDF

14 Aug 2026, 4:56 pmResult

Outcome Of The Board Meeting Held On August 14, 2026 - Regulation 30 And 33, Read With Schedule III Of SEBI (Listing Obligations And Disclosure Requirements), 2015

Financial Results PDF

14 Aug 2026, 4:41 pmBoard Meeting

Board Meeting Outcome for Outcome Of The Board Meeting Held On August 14, 2026 - Regulation 30 And 33, Read With Schedule III Of SEBI (Listing Obligations And Disclosure Requirements), 2015

Outcome of Board Meeting PDF

11 Aug 2026, 5:34 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

11 Aug 2026, 5:20 pmBoard Meeting

Board Meeting Intimation for Intimation Of Board Meeting Of Rishabh Instruments Limited ('Company') Under Regulation 29 & 33 Of SEBI (Listing Obligations And Disclosure Requirements), Regulations, 2015

Exchange filing PDF

31 Jul 2026, 1:40 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

10 Jul 2026, 10:15 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

9 Jul 2026, 6:53 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

Date	Category	Subject	Filing
14 Aug 2026, 5:05 pm	Company Update Reg. 32 (1), (3) - Statement of Deviation & Variation	Statement On Deviation Or Variation Of Funds Under Regulation 32 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
14 Aug 2026, 4:56 pm	Result Financial Results	Outcome Of The Board Meeting Held On August 14, 2026 - Regulation 30 And 33, Read With Schedule III Of SEBI (Listing Obligations And Disclosure Requirements), 2015

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Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	55%	58%	58.2%	62.1%
EBITDA margin %	13.4%	10.3%	6.7%	16.3%
EBIT margin %	9.8%	6.3%	2.9%	11.7%
PAT margin %	8.7%	5.8%	2.9%	10.6%
Working capital
Receivable days	77	68	68	62
Inventory days	219	220	196	214
Payable days	118	99	99	92
NWC days	178	189	166	184
Leverage
Current ratio	2.04	2.66	2.94	3.02
Debt to EBITDA	1.35	0.77	1.98	0.59
Debt to equity	0.26	0.1	0.16	0.1
Interest coverage	12.8	13.5	6.5	20.2
Asset turnover	0.88	0.88	0.81	0.77
Return ratios
Return on assets %	7.7%	5.1%	2.4%	8.2%
Return on capital employed %	14.7%	10.6%	5.5%	14.5%
Return on equity %	12.4%	7.1%	3.5%	11%

2 disclosures

Person	Deal	Shares	Value	Holding	Filed
Hemlata BhavsarEmployees/Designated Employees	SellMarket Sale	4,600	₹19.1 L	0.03% → 0.02%	21 Aug 20257(2)
Mr. Dineshkumar MusalekarDirector	SellMarket Sale	1,00,000	₹3.85 cr	0.48% → 0.22%	18 Aug 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.

17 deals · 11 Sept 2023 – 18 Aug 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
18 Aug 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	2,15,252	₹398.52	₹8.58 Cr
18 Aug 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	2,15,252	₹398.05	₹8.57 Cr
18 Aug 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,98,298	₹391.06	₹7.75 Cr
18 Aug 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,98,298	₹390.27	₹7.74 Cr
26 Mar 2024	YADUKA FINANCIAL SERVICES LIMITED	Bulk	NSE	Sell	2,16,000	₹420.07	₹9.07 Cr
26 Mar 2024	ASHIKA GLOBAL SECURITIES PRIVATE LIMITED	Bulk	NSE	Buy	2,16,000	₹420.08	₹9.07 Cr
21 Mar 2024	YADUKA FINANCIAL SERVICES LIMITED	Bulk	NSE	Buy	2,20,500	₹428.90	₹9.46 Cr
21 Mar 2024	ASHIKA GLOBAL SECURITIES PRIVATE LIMITED	Bulk	NSE	Sell	2,16,000	₹428.85	₹9.26 Cr
11 Sept 2023	NIPPON INDIA MUTUAL FUND	Bulk	NSE	Buy	10,00,000	₹457.09	₹45.71 Cr
11 Sept 2023	QUANT MUTUAL FUND	Bulk	NSE	Buy	4,00,000	₹462.23	₹18.49 Cr

1–10 of 17

1 / 2

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.

Rishabh Instruments Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends1

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Dividends1

Board meetings1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Asia · revenue

1

1

1

1