Religare Enterprises Limited (RELIGARE) Fair Value & Analysis
Financial Services · IN · Market cap ₹79.8B
Strengths
Risks
Fair value as of: Aug 23, 2026
From 6 valuation models · updated today
Share price −11.5% over the past month.
Below-average quality, and screening another 84% overvalued on our models.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹46.76). The favourable scenario is already priced in.
- Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
- 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 23, 2026.
How to read this chart
60‑month range ₹83.10 – ₹308.45 · fair‑value band ₹28.05 – ₹46.76 · the ₹231.45 price screens above the ₹37.41 fair value. Dashed = 300-day average. As of Aug 23, 2026.
Analysis
Religare Enterprises Limited (RELIGARE) currently trades at ₹231.45, while our model-based Fair Value estimate is ₹37.41, implying the stock looks roughly 83.8% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Financial Services 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: medium).
Over the trailing twelve months, Religare Enterprises Limited generated revenue of ₹89.8B at a net margin of 0.6%. Revenue grew 26.0% year over year. It earns a return on equity of 2.0%. Net debt stands at ₹1.4B. Fundamentals as of Aug 23, 2026
Our scenario range runs from ₹28.05 (bear case) to ₹46.76 (bull case); at ₹231.45, 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 19% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -5% fair-value upside, at -84%, RELIGARE 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 6 models by family
Widest divergence: Economic Profit (₹59.53) versus Dividend Discount (₹17.60). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 50
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 an investment company in India. The company provides broking services in equities, currencies, and commodities; depository participant services; tax information network (TIN) and income tax permanent account number (PAN) facilities; and tax deduction and collection account number (TAN) and tax deduction at source …
Full company description
Religare Enterprises Limited operates as an investment company in India. The company provides broking services in equities, currencies, and commodities; depository participant services; tax information network (TIN) and income tax permanent account number (PAN) facilities; and tax deduction and collection account number (TAN) and tax deduction at source (TDS)/tax collection at source (TCS) filing services, as well as operates as a National Securities Depository Limited (NSDL)-appointed enrolment agency for Aadhaar unique identification number and an AMFI-registered mutual fund distributor. It also offers finance for small and medium enterprises; and housing finance services, including home-purchase, home construction, and home improvement loans. In addition, the company provides e-governance and financial inclusion services; issues digital signature certificates and USB tokens; and citizen e-services, other ancillary, and allied services. Further, it offers health insurance services to employees of corporates, and individual customers. Additionally, the company provides critical illness, personal accident, top-up coverage, international travel, and maternity insurance products, as well as group health and personal accident insurance for corporates. Religare Enterprises Limited was incorporated in 1984 and is headquartered in New Delhi, 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 ₹84.1B in FY2025 versus ₹32.2B in FY2021, a compound +27.1%/yr. Reported net income was ₹860M in FY2025.
RELIGARE screens 84% overvalued. Compare with China Life Insurance Company →
Peer Group
Insurance - Life · 96 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Life median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Life Insurance Company 601628 | ¥37.33 | ¥49.98 | +34% |
| Ping An Insurance (Group) Company 601318 | ¥52.08 | ¥84.72 | +63% |
| AIA Group 1299 | HK$73.00 | HK$33.57 | -54% |
| Manulife Financial Corporation 0945 | HK$343.40 | HK$143.17 | -58% |
| Life Insurance Corporation LICI | ₹412.15 | ₹392.93 | -5% |
| China Pacific Insurance (Group) Co 601601 | ¥30.20 | ¥57.51 | +90% |
| Samsung Life Insurance Co 032830 | 301,000 KRW | 191,293 KRW | -36% |
| Prudential plc PUKN | 545.00 MXN | 362.09 MXN | -34% |
| New China Life Insurance Company 601336 | ¥58.79 | ¥99.92 | +70% |
| SBI Life Insurance Company SBILIFE | ₹1,793 | ₹293.11 | -84% |
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Frequently asked questions
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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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