RISHABHIndustrials

Rishabh Instruments Limited

Other Electrical Equipment · ISIN INE0N2P01017 · BSE 543977 · NSE EQ · FV ₹10
Last price
₹778
+2.61%today
What this company does

Rishabh Instruments Limited operates in Other Electrical Equipment, part of the Industrials sector. It booked ₹198 cr of revenue in its latest quarter (Q1 FY27) and kept 9.6% of sales as profit.

aim to address local needs related to health, education, and sustainability, while encouraging participation, feedback, and collaboration.
In the report:
62out of 100
Equitytale Health Score
Mixed

Healthier than 62% of companies in Industrials, on the 5 of 6 measures we could read for it. Each measure is ranked against the 234–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
59

At close. Not part of the score.

Profitability & returns57

How much profit it earns on the money it employs

Balance sheet81

How much it owes, and whether earnings cover the interest

Cash quality52

Whether reported profit actually arrives as cash

Valuation28

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Looks broadly healthyPriced in line with peers
Strengths
Makes a profit
Promoters hold 69%
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in RISHABH?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹778 +2.61%
latest close · 2026-09-17
52-wk low ₹59742 sessions so far52-wk high ₹852
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio39.5High
LowAverageHigh
P/B ratio4.04High
Below bookModerateHigh
EV / EBITDA20.2High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity10.2%Fair
WeakFairStrong ▸15%
Return on capital13.3%Fair
WeakFairStrong
Net margin9.6%Decent
ThinDecentStrong
EBITDA margin18.6%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.10Comfortable
LowModerateHigh ▸1
Interest cover29.7×Strong
RiskyOkayStrong ▸5×
Current ratio3.02Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹3,009 cr
Book value
₹193
EPS
₹4.93
latest quarter
Net debt
₹-22 cr
more cash than debt
Enterprise value
₹2,987 cr
EBITDA
₹148 cr
annualised
EBIT
₹110 cr
annualised
Operating margin
13.9%
Return on assets
7.6%
Earnings yield
2.53%
P/S
3.79
Sales / share
₹205.1
Tax rate
27.1%
Face value
₹10
Shares
3.9 cr
Working capital
₹357 cr
Current assets
₹533 cr
Current liabilities
₹176 cr
Delivery %
44.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹73₹211, midpoint ₹142

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹198 cr
Other Income₹4 cr
Total Income₹202 cr
Cost of Materials₹78 cr
Purchases of Stock-in-Trade₹8 cr
Inventory Change (±)₹-12 cr
Employee Benefit Expense₹59 cr
Finance Costs₹92.7 L
Depreciation & Amortisation₹9 cr
Other Expenses₹31 cr
Total Expenses₹175 cr
Exceptional Items₹0.5 L
Profit before Tax₹27 cr
Tax Expense₹7 cr
Net Profit₹19 cr
Net margin on total income9.6%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹75 cr36.9%
Employee benefit expense₹59 cr29.4%
Finance costs₹92.7 L0.5%
Depreciation & amortisation₹9 cr4.7%
Other expenses₹31 cr15.4%
Tax expense₹7 cr3.6%
Profit for the period₹19 cr9.6%
Total income ₹202 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue184 cr205 cr198 cr
Total income189 cr211 cr202 cr
Expenses163 cr183 cr175 cr
Profit before tax26 cr28 cr27 cr
Tax5 cr8 cr7 cr
Net profit (owners' share)20 cr20 cr19 cr
Net margin (owners' share, on revenue)10.9%9.6%9.6%
EPS (₹)5.195.124.93
YoY (latest quarter): total income +3.8% · net profit -3.4%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1,003 cr
Shareholder equity
₹745 cr
parent shareholders
Total debt
₹74 cr
Cash
₹96 cr
Cash flow · H1 FY25
Operating
₹42 cr
Investing
₹-47 cr
Financing
₹65 cr
Peer comparison
Other Electrical Equipment · by market value
CompanyPriceMarket capP/E
Apar Industries Limited₹17,801₹71,507 cr38.2
Waaree Energies Limited₹2,473₹71,136 cr20.9
Premier Energies Limited₹880₹39,948 cr21.1
Emmvee Photovoltaic Power Limited₹326₹22,536 cr14.8
Mtar Technologies Limited₹7,060₹21,716 cr108.1
Diamond Power Infrastructure Limited₹376₹19,817 cr84.7
Avalon Technologies Limited₹2,230₹14,899 cr106.8
Fujiyama Power Systems Limited₹409₹12,551 cr54.4
Waaree Renewable Technologies Limited₹811₹8,463 cr18.3
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.26%
trailing 12 months
Dividend / share (TTM)
₹2
Last dividend
₹2
ex 24 Jul 2026
ActionDetailEx-date
Dividend₹2 / share24 Jul 2026
Who owns it · 2026-06-30
No pledge
Promoter
69.4%
FII / Foreign
1.2%
DII / Domestic
11.2%
Retail / others
18.2%
Promoter stake down 1.3% over the last 12 quarters.
Smart-money activity
Insider trades
SoldMr. Sandeep Keshav Wani · Employee2,009 · ₹16.1 L7 Sep 26
SoldMr. Dineshkumar Musalekar · KMP30,001 · ₹2.4 cr7 Sep 26
SoldNarendra Joharimal Goliya · Promoters5,00018 Nov 25
Bulk / block deals
SoldJUNOMONETA FINSOL PRIVATE LIMITED · NSE2.15 L @ ₹398.5218 Aug 25
BoughtJUNOMONETA FINSOL PRIVATE LIMITED · NSE2.15 L @ ₹398.0518 Aug 25
SoldGRAVITON RESEARCH CAPITAL LLP · NSE1.98 L @ ₹391.0618 Aug 25
What shareholders were asked to approve
3 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 30 Jul 2025
See the official result
1
a. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025, and the reports of the Board of Directors and Auditors thereon b.To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Report of the Auditors thereon
⚑ Passed only because promoters voted yes
Backed by 33% of shareholders other than promotersneeded 50%
16.11 L votes for, 32.70 L against · 71% of mutual funds and other big investors said no
2
Mr. P. K. Ramakrishnan (DIN: 00304272), Director, liable to retire by rotation, who does not seek re-election at this Annual General Meeting and the vacancy caused by his retirement is not proposed to be filled up in this meeting
Backed by 100% of shareholders other than promotersneeded 50%
48.81 L votes for, 200 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Mr. Dinesh Kumar Musalekar (DIN: 02039938) who retires by rotation at this Annual General Meeting and being eligible offers himself for re-appointment and that on re-appointment there will not be any break in his service as a Whole-Time Director
Backed by 100% of shareholders other than promotersneeded 50%
48.81 L votes for, 200 against · 0% of mutual funds and other big investors said no
4
To approve Amendment in ESOP Plan 2022 Scheme A
⚑ Passed only because promoters voted yes
Backed by 6% of shareholders other than promotersneeded 75%
2.73 L votes for, 46.08 L against · 100% of mutual funds and other big investors said no
5
Appointment of M/s. KANJ & Co. LLP, Company Secretaries (Firm Registration Number: P2000MH005900) as the Secretarial Auditors of the Company for a term of 5 consecutive years
⚑ Passed only because promoters voted yes
Backed by 33% of shareholders other than promotersneeded 50%
16.09 L votes for, 32.72 L against · 71% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 7 named members
owning 61.6% between them · as of 2026-06-30
NARENDRA JOHARIMAL GOLIYA JOINTLY WITH ASHA NARENDRA GOLIYA42.09%
ANUSHREE FAMILY TRUST-NARENDRA GOLIYA (TRUSTEE), ASHA GOLIYA (TRUSTEE)9.32%
RISHABH FAMILY TRUST-NARENDRA GOLIYA (TRUSTEE), ASHA GOLIYA (TRUSTEE)9.32%
RISHABH NARENDRA GOLIYA JOINTLY WITH NARENDRA JOHARIMAL GOLIYA0.91%
ANUSHREE NARENDRA GOLIYA JOINTLY WITH NARENDRA JOHARIMAL GOLIYAno shares
Ivaan Foundationno shares
MOHINI RISHABH GOLIYAno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it
1 fundraise spent differently than promised

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹8 cr raised in Sep 2023 by selling shares to the public
⚑ company reported a change of plan

As of Jun 2026, the company says it has spent 88% of what it set aside, leaving ₹86.7 L still to be spent.

As mentioned belowthe company’s own explanation, as filed · shareholders approved the change
Expansion of Nashik Manufacturing Facility I
originally ₹6 cr
budget changed
84%
₹3 cr of ₹3 cr
NA
now filed as: Expansion of Nashik Manufacturing Facility II
originally ₹0 cr
budget changed
89%
₹3 cr of ₹3 cr
General Corporate Purposes
97%
₹77.2 L of ₹79.2 L

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.