Rishabh Instruments Limited (RISHABH) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Rishabh Instruments Limited ₹267, price ₹699, upside -61.8%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
37‑month range ₹202.56 – ₹829.60 · fair‑value band ₹148.73 – ₹434.69 · the ₹698.80 price screens above the ₹266.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Rishabh Instruments Limited engages in the design, development, and manufacturing of global energy efficiency solutions in electrical automation, measurement, and industrial technology in Asia, the United States, Poland, other European countries, and internationally.
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Rishabh Instruments Limited engages in the design, development, and manufacturing of global energy efficiency solutions in electrical automation, measurement, and industrial technology in Asia, the United States, Poland, other European countries, and internationally. The company offers electrical automation devices, including energy management & SCADA software, transducers, humidity recorders, I/O modules and converters, isolators, and temperature controllers; metering, control, and protection devices, such as analog panel meters, rotary CAM switches, multi-load monitoring meters, power quality meters, current transformers, power quality analyzers, battery chargers, synchronising units, power supply, shunts, power factor controller, digital panel, meters, LV protection relays, multi-function meters, and medium voltage protection relays; portable test & measurement instruments, includes digital multi-meters, digital earth testers, digital clamp meters, digital insulation testers, and submarine cable fault locator; and environmental instruments, such as thickness meter, digital lux meter, non-contact tachometer, db meter, temperature & rh meter, moisture meter, ir meter, and anemometer. It also offers solar string inverters and aluminum die casting. The company serves data centers, pharmaceuticals, fast-moving consumer goods, railways, utilities, petrochemical, and automotive industries. The company was formerly known as Rishabh Instruments Private Limited and changed its name to Rishabh Instruments Limited in September 2022. Rishabh Instruments Limited was incorporated in 1982 and is headquartered in Nashik, India.
Stock analysis
Rishabh Instruments Limited (RISHABH) currently trades at ₹698.80, while our model-based Fair Value estimate is ₹266.71, 61.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹446.22 per share, and 0 of the 25 models we run sit above the ₹698.80 price.
Bear case: the Growth DCF group reads lowest at ₹64.55, and 25 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹148.73 (bear) to ₹434.69 (bull), the price of ₹698.80 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Rishabh Instruments Limited reported revenue of ₹7.8B in FY2026 versus ₹4.7B in FY2022, a compound +13.5%/yr. Reported net income was ₹815M in FY2026, compounding +14.7%/yr from FY2022.
Key figures
Market cap ₹27.0B (≈ $281M) · P/E ratio 33.2 · P/S ratio 3.49 · EPS (TTM) ₹21.06 · Dividend yield 0.0% · Net margin 10.5% · Return on equity 12.1% · Return on assets (EBIT) 11.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 119% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −37% fair-value upside, at −62%, RISHABH screens richer than that median.
Fair Value models
Bear ₹148.73Fair Value ₹266.71Bull ₹434.69
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹10.67 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.9%
Start year 2021 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.6%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+5.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.1%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 12%
2026 sits 99% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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Peer Groupⓘ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.Scientific & Technical Instruments · 149 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Rishabh Instruments Limited (RISHABH) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹266.71 versus a price of ₹698.80, about −62% upside (overvalued).
What is the fair value of RISHABH?
Our model-based fair value for Rishabh Instruments Limited is ₹266.71 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹698.80.
What is the quality score of RISHABH?
Rishabh Instruments Limited has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Rishabh Instruments Limited (RISHABH)?
Our model-based price target is the fair value of ₹266.71 (as of Sep 27, 2026) from 25 valuation models. Cautious scenario ₹148.73, optimistic scenario ₹434.69. It is a calculation from audited fundamentals, not an analyst target.
What is the Rishabh Instruments Limited stock forecast for 2026?
Our models put fair value at ₹266.71, about −62% upside versus a price of ₹698.80 (overvalued). Cautious scenario ₹148.73, optimistic scenario ₹434.69. The calculation is refreshed regularly with new filings.
What is the revenue of Rishabh Instruments Limited (RISHABH)?
Rishabh Instruments Limited reported trailing-twelve-month revenue of about ₹7.8B (latest available figure, as of Sep 27, 2026).
Does Rishabh Instruments Limited pay a dividend?
Rishabh Instruments Limited currently shows a dividend yield of about 0.01% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of Rishabh Instruments Limited (RISHABH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Rishabh Instruments Limited it is ₹266.71 per share (as of Sep 27, 2026), against a price of ₹698.80. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Rishabh Instruments Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, RISHABH trades above its calculated fair value: price ₹698.80, fair value ₹266.71, a gap of about −62% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of RISHABH?
No. The price is what the market pays today (₹698.80); the fair value is what the company's own numbers justify (₹266.71). For Rishabh Instruments Limited the two are ₹432.09 per share apart. That gap is exactly why we show both numbers side by side.
How much is Rishabh Instruments Limited worth?
The market values Rishabh Instruments Limited at about ₹27.0B (market capitalisation, as of Sep 27, 2026). Per share that is ₹698.80; our models calculate a fair value of ₹266.71 per share.
What do the bullish and bearish scenarios say about RISHABH?
Our models span a range for Rishabh Instruments Limited: cautious scenario ₹148.73, base ₹266.71, optimistic ₹434.69 per share (as of Sep 27, 2026, price ₹698.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RISHABH?
Rishabh Instruments Limited trades at a price-to-earnings ratio of 33.2 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹266.71 is built from several models across several years. Other multiples: P/B 3.6, P/S 3.5, EV/EBITDA 20.1.
How solid is the balance sheet of Rishabh Instruments Limited (RISHABH)?
Balance-sheet figures for Rishabh Instruments Limited (as of Sep 27, 2026): return on equity 12.1%, debt of 0.05 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is RISHABH from its 52-week high?
Rishabh Instruments Limited trades at ₹698.80, about 16% below its 52-week high of ₹829.60 and 119% above the low of ₹318.79 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹266.71 is for.
Which stocks are comparable to Rishabh Instruments Limited?
From the same area (Technology) we also value Keysight Technologies, Inc, Coherent Corp, Garmin Ltd, Chroma ATE Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Rishabh Instruments Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹698.80, calculated fair value ₹266.71 (−62%), Quality Score 59/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of RISHABH calculated?
We run Rishabh Instruments Limited through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹266.71, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Rishabh Instruments Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Rishabh Instruments Limited (RISHABH)?
The closing price on Oct 1, 2026 was ₹698.80. Our model-based fair value is ₹266.71, about −62% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Rishabh Instruments Limited right now?
The price sits above even our optimistic bull case (₹434.69). The favourable scenario is already priced in. The model range is unusually wide (₹148.73 to ₹434.69). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Rishabh Instruments Limited
How large is the market capitalisation of Rishabh Instruments Limited (RISHABH)?
The market capitalisation of Rishabh Instruments Limited is ₹27.0B (≈ $281M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Rishabh Instruments Limited (RISHABH)?
The price-to-sales ratio of Rishabh Instruments Limited is 3.49 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Rishabh Instruments Limited (RISHABH)?
Earnings per share at Rishabh Instruments Limited are ₹21.06 (price ÷ EPS = P/E 33.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Rishabh Instruments Limited (RISHABH)?
The dividend yield of Rishabh Instruments Limited is 0.0% (payout 0.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Rishabh Instruments Limited (RISHABH)?
The net margin of Rishabh Instruments Limited is 10.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Rishabh Instruments Limited (RISHABH)?
The return on equity (ROE) of Rishabh Instruments Limited is 12.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Rishabh Instruments Limited (RISHABH)?
On an EBIT basis the return on assets of Rishabh Instruments Limited is 11.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Rishabh Instruments Limited (RISHABH)?
The operating margin of Rishabh Instruments Limited is 11.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Rishabh Instruments Limited (RISHABH)?
Revenue at Rishabh Instruments Limited is growing +9.3% versus a year earlier (3y avg +10.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Rishabh Instruments Limited (RISHABH)?
Earnings per share at Rishabh Instruments Limited are growing +206% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Rishabh Instruments Limited (RISHABH) generate?
The free cash flow of Rishabh Instruments Limited is ₹23.9M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Rishabh Instruments Limited (RISHABH) hold?
Rishabh Instruments Limited holds more cash than debt, ₹1.2B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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