Religare Enterprises Limited (532915) Fair Value & Analysis
Financial · IN · Market cap ₹12.6B
Fair value as of: Aug 13, 2026
From 13 valuation models · updated yesterday
Share price −12.5% over the past month.
A solid business, but screening 70% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹78.57). The favourable scenario is already priced in.
- Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
- The models converge in a tight band (₹69.27 to ₹78.57), unusually little disagreement for a valuation.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ₹83.10 – ₹308.45 · fair‑value band ₹69.27 – ₹78.57 · the ₹234.60 price screens above the ₹69.27 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Religare Enterprises Limited (532915) currently trades at ₹234.60, while our model-based Fair Value estimate is ₹69.27, implying the stock looks roughly 70.5% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Financial sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Religare Enterprises Limited generated revenue of ₹23.8B at a net margin of -39.8%. Revenue declined 5.1% year over year. Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹69.27 (bear case) to ₹78.57 (bull case); at ₹234.60, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 18% below its 52-week high and 19% above its 52-week low. For context, the median of 10 Financial peers we cover trades at -28% fair-value upside, at -70%, 532915 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 13 models by family
Widest divergence: Growth DCF (₹461.34) versus Dividend Discount (₹23.44). Highest evidence: Growth DCF (80).
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Key figures & financial health
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 47
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Religare Enterprises Limited operates as a core investment company in India and internationally. The company offers broking services in equities, commodities, and currencies; depository participant services; and TIN and PAN facilities, as well as operates as an NSDL-appointed enrolment agency for Aadhaar unique identification number and an AMFI-registered …
Full company description
Religare Enterprises Limited operates as a core investment company in India and internationally. The company offers broking services in equities, commodities, and currencies; depository participant services; and TIN and PAN facilities, as well as operates as an NSDL-appointed enrolment agency for Aadhaar unique identification number and an AMFI-registered mutual fund distributor. It also provides finance for small and medium enterprises and housings, as well as health insurance products and services. In addition, the company operates an online investment portal; and provides e-governance and financial advisory services. Religare Enterprises Limited was incorporated in 1984 and is based in Noida, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Religare Enterprises Limited reported revenue of ₹73.5B in FY2025 versus ₹24.9B in FY2021, a compound +31.1%/yr. Reported net income was ₹1.3B in FY2025.
532915 screens 70% overvalued. Compare with Arihant Capital Markets Limited →
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Investment Brokerage - National stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Arihant Capital Markets Limited 511605 | ₹74.59 | ₹149.18 | +100% |
| IndiaNivesh Limited 501700 | ₹7.12 | ₹5.72 | -20% |
| Garnet International Limited 512493 | ₹61.69 | ₹31.45 | -49% |
| Yash Management & Satellite Ltd 511601 | ₹9.13 | ₹6.53 | -28% |
| Wallfort Financial Services Limited 532053 | ₹79.71 | ₹8.60 | -89% |
| Gemstone Investments Limited 531137 | ₹1.51 | ₹0.7000 | -54% |
| Chartered Capital and Investment Limited 511696 | ₹278.00 | ₹116.97 | -58% |
| SKP Securities Limited 531169 | ₹103.99 | ₹196.47 | +89% |
| Pro Fin Capital Services Ltd 511557 | ₹2.83 | ₹5.66 | +100% |
| Morarka Finance Limited 511549 | ₹60.50 | ₹41.30 | -32% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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