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Religare Enterprises Limited Q3 FY26 earnings call summary

NSE: RELIGARE · BSE: 532915

Earnings call of 16 Feb 2026, summarised by AI from the filing.

Religare approved demerger of financial services into RFL with 1:1 share issuance, targeting listing in Q1 FY28, as Q3 consolidated income rose to ₹2,067.9 cr.

Key takeaways

  1. Demerger Financial services demerged into RFL with 1:1 share issuance; process expected to take 15 to 18 months, listing in Q1 FY28.
  2. CARE growth CARE top line ₹7,906 cr on full premium basis with 21.5% growth; retail proprietary channel grew 41%.

Original filing on BSE

Religare Enterprises Limited Q1 FY27 results

As filed: Revenue ₹2,353 cr (+26% year on year), EBITDA −₹49.1 cr (−300% year on year), PAT −₹47.0 cr (−300% year on year), EBITDA margin -2.1% (−294 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹2,467 cr (+22% year on year), EBITDA ₹143 cr (−39% year on year), PAT ₹95.7 cr (−37% year on year), EBITDA margin 5.8% (−566 bps). Score 47 of 100, In line with trend. Revenue and EBITDA growth were in line with the company's own trend; profit growth was below it. EBITDA margin fell 566 bps year on year. Share price after the results: +4.0% in 30 days (Nifty 500: −0.8%).
  • Q3 FY26: Revenue ₹2,056 cr (+24% year on year), EBITDA −₹94.9 cr, PAT −₹76.5 cr, EBITDA margin -4.6% (−65 bps). Score 15 of 100, Below trend. Revenue growth was above the company's own trend. EBITDA margin fell 65 bps year on year. Profit fell 266% from last quarter. Revenue rose ₹392 cr on a year ago, more than the ₹153 cr it added the year before. Share price after the results: −9.5% in 30 days (Nifty 500: −7.8%).
  • Q2 FY26: Revenue ₹2,064 cr (+6% year on year), EBITDA ₹61.0 cr (−20% year on year), PAT ₹46.0 cr (−32% year on year), EBITDA margin 3.0% (−94 bps). Score 31 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA and profit growth were in line with it. EBITDA margin fell 94 bps year on year. Other income 32% of PBT. Share price after the results: −10.2% in 29 days (Nifty 500: −0.4%).
  • Q1 FY26: Revenue ₹1,861 cr (+9% year on year), EBITDA ₹16.0 cr (−72% year on year), PAT ₹8.0 cr (−70% year on year), EBITDA margin 0.9% (−247 bps). Score 23 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA and profit growth were below it. EBITDA margin fell 247 bps year on year. Other income 167% of PBT. Tax rate -33%. Revenue fell 8% from last quarter. Revenue rose ₹151 cr on a year ago, against ₹425 cr the year before. Share price after the results: +1.3% in 30 days (Nifty 500: +2.4%).
  • Q4 FY25: Revenue ₹2,028 cr (+9% year on year), EBITDA ₹232 cr (+300% year on year), PAT ₹151 cr (−17% year on year), EBITDA margin 11.4% (+1,000 bps). Score 59 of 100, In line with trend. Revenue growth was well below the company's own trend; EBITDA growth was well above it; profit growth was in line with it. EBITDA margin rose 1000 bps year on year. Revenue rose ₹172 cr on a year ago, against ₹460 cr the year before. Share price after the results: +3.4% in 30 days (Nifty 500: +0.8%).
  • Q3 FY25: Revenue ₹1,664 cr (+10% year on year), EBITDA −₹66.0 cr (−218% year on year), PAT −₹63.0 cr (−285% year on year), EBITDA margin -4.0% (−767 bps). Score 20 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend. EBITDA margin fell 767 bps year on year. Revenue fell 15% from last quarter. Revenue rose ₹153 cr on a year ago, against ₹346 cr the year before.
  • Q2 FY25: Revenue ₹1,952 cr (+23% year on year), EBITDA ₹76.0 cr (−25% year on year), PAT ₹68.0 cr (+70% year on year), EBITDA margin 3.9% (−248 bps). Score 44 of 100, In line with trend. EBITDA margin fell 248 bps year on year. Other income 28% of PBT. Tax rate -1%. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Religare Enterprises Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.