Religare Enterprises Ltd

Religare Enterprises Ltd

₹ 225 1.65%
24 Apr 2:58 p.m.
About

Religare Enterprise Ltd, incorporated in 1984, is a diversified financial services company with presence all over India, operating through its subsidiaries. The Co. provides loans to SMEs, Affordable Housing Finance, Health Insurance and Retail Broking. REL’s subsidiaries service over 11 lakh clients from over 1,275 locations having presence in more than 400 cities.[1][2]

Key Points

Services
A)Lending (15% of the revenue in FY21) Lending and Investments, Financial Advisory Services, Distribution of Third-Party Financial Products. The Co. provides SME Finance through Religare Finvest Ltd.(RFL) and Affordable Housing Finance through Religare Housing Development Finance Corporation Ltd.(RHDFCL)
B)Health Insurance (74.5% of the revenue) Offers products in the retail segment for Health Insurance, Critical Illness, Personal Accident, Top-up Coverage, International Travel Insurance and Maternity along with Group Health Insurance and Group Personal Accident Insurance for corporates through Care Health Insurance Limited (formerly known as Religare Health Insurance Co. Ltd.)[1]
C)Retail Broking (8.5% of the revenue)Broking in Securities and Commodities, Custodial and Depository Operations, PMS, Institutional Equities and Investment Banking Services through Religare Broking Ltd.[2] [3]

  • Market Cap 7,429 Cr.
  • Current Price 225
  • High / Low 281 / 154
  • Stock P/E 20.1
  • Book Value 66.8
  • Dividend Yield 0.00 %
  • ROCE 15.5 %
  • ROE -5.39 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter

Cons

  • Stock is trading at 3.34 times its book value
  • Earnings include an other income of Rs.3,399 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
613 753 643 795 827 953 951 1,164 1,165 1,396 1,285 1,584 1,511
541 644 807 1,058 921 824 923 1,117 1,020 1,149 1,147 1,483 1,455
Operating Profit 72 109 -164 -263 -94 128 28 47 145 247 138 101 56
OPM % 12% 14% -25% -33% -11% 13% 3% 4% 12% 18% 11% 6% 4%
8 8 4 93 54 3 101 19 3 3,354 18 1 27
Interest 180 191 172 190 197 181 189 197 213 29 26 25 24
Depreciation 14 14 13 13 14 14 14 13 14 14 19 18 18
Profit before tax -114 -87 -345 -373 -250 -63 -75 -144 -79 3,557 112 59 41
Tax % 2% 23% 14% -8% -0% -826% -1% -22% -22% 1% 17% 32% 18%
-112 -67 -296 -404 -251 -588 -76 -177 -96 3,517 93 40 34
EPS in Rs -4.38 -3.46 -9.74 -13.49 -7.84 -19.20 -2.38 -6.49 -3.62 107.61 1.94 0.78 0.59
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3,873 3,762 3,361 4,128 4,895 3,709 2,675 2,371 2,384 2,513 3,227 4,679 5,776
1,820 1,460 1,585 2,006 3,710 1,659 2,841 3,005 2,341 2,235 3,592 4,196 5,234
Operating Profit 2,053 2,302 1,775 2,122 1,184 2,050 -167 -634 43 278 -364 483 542
OPM % 53% 61% 53% 51% 24% 55% -6% -27% 2% 11% -11% 10% 9%
-606 -777 25 58 1,012 -316 60 10 -157 17 137 3,473 3,399
Interest 1,460 1,722 1,584 1,658 1,879 1,840 1,271 854 855 733 750 641 104
Depreciation 84 60 34 37 36 31 30 26 61 59 53 56 69
Profit before tax -96 -258 182 485 282 -136 -1,407 -1,504 -1,030 -497 -1,031 3,259 3,768
Tax % -54% -87% 85% 34% 79% 10% 16% 0% -1% 4% -49% 3%
-148 -481 27 321 61 -124 -1,181 -1,501 -1,038 -478 -1,539 3,169 3,684
EPS in Rs -14.25 -37.09 -4.63 8.62 -2.67 -9.77 -58.56 -59.33 -36.12 -19.60 -48.43 95.24 110.92
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 2%
5 Years: 12%
3 Years: 25%
TTM: 36%
Compounded Profit Growth
10 Years: 7%
5 Years: 15%
3 Years: 25%
TTM: 139%
Stock Price CAGR
10 Years: -3%
5 Years: 47%
3 Years: 35%
1 Year: 39%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: -5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 149 149 150 178 178 178 178 217 258 259 319 324 328
Reserves 3,489 2,970 2,982 3,705 3,660 2,549 1,658 521 -157 -306 -1,301 1,734 1,873
Preference Capital 56 56 56 25 25 26 0 0 0 0 0 0
13,984 13,365 14,017 16,466 20,222 14,929 9,945 6,717 5,356 4,940 4,878 841 648
2,722 3,811 3,976 5,089 3,369 3,382 2,081 2,119 2,673 3,832 5,467 5,193 6,262
Total Liabilities 20,343 20,295 21,125 25,439 27,429 21,038 13,862 9,573 8,130 8,725 9,362 8,092 9,111
1,576 1,822 1,981 2,128 1,785 103 80 83 175 117 127 196 185
CWIP 123 4 12 4 4 12 11 14 13 12 2 5 0
Investments 1,415 2,419 3,344 4,363 2,700 1,983 1,197 1,438 2,023 3,190 3,836 5,094 5,829
17,229 16,049 15,788 18,944 22,941 18,940 12,574 8,038 5,919 5,406 5,397 2,797 3,097
Total Assets 20,343 20,295 21,125 25,439 27,429 21,038 13,862 9,573 8,130 8,725 9,362 8,092 9,111

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-1,032 2,936 1,634 -706 -2,154 5,871 5,802 3,555 2,433 1,373 1,596 1,506
-1,754 -730 -403 -612 499 2,149 -457 -31 -436 -1,181 -689 -939
3,187 -2,326 -1,400 1,094 1,853 -7,696 -6,455 -3,819 -1,743 -314 559 -2,079
Net Cash Flow 401 -120 -169 -224 198 324 -1,110 -295 254 -122 1,466 -1,512

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 46 47 52 52 35 60 42 53 14 28 21 14
Inventory Days
Days Payable
Cash Conversion Cycle 46 47 52 52 35 60 42 53 14 28 21 14
Working Capital Days 308 265 104 56 42 26 -118 -98 -267 -264 -387 -275
ROCE % 12% 11% 11% 11% 9% 10% -1% -7% -0% 4% -6% 16%

Shareholding Pattern

Numbers in percentages

25 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
17.29% 18.75% 19.31% 19.59% 18.99% 19.60% 18.79% 18.30% 19.48% 11.75% 9.89% 7.91%
5.24% 1.42% 1.47% 2.38% 3.82% 5.63% 7.18% 7.42% 7.00% 7.84% 7.75% 8.17%
77.47% 79.83% 79.22% 78.03% 77.19% 74.77% 74.02% 74.27% 73.52% 80.41% 82.36% 83.92%
No. of Shareholders 63,12648,97152,70057,18955,61355,22259,75259,29257,93961,53569,31184,527

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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