Rishabh Instruments Limited (IN:RISHABH)
:RISHABH
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Rishabh Instruments Limited
(RISHABH)
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Rating:70Outperform
Price Target:
₹637.00
▲(63.94% Upside)
Action:Upgraded
Date:05/21/26
The score is driven primarily by improving financial performance (stronger FY2026 profitability and a solid balance sheet) but held back by inconsistent free cash flow generation. Technicals add support via a clear uptrend and constructive momentum, while valuation appears moderate based on the provided P/E.
Positive Factors
Conservative Balance Sheet
Low leverage (debt-to-equity ~0.11) and expanding equity/assets provide durable financial flexibility. This conservatism supports capex, working-capital needs, and weathering demand cycles without urgent refinancing, enabling steady investment in product and market expansion over months to years.
Negative Factors
Inconsistent Free Cash Flow
Free cash flow has been erratic, with multiple years negative and FCF only modestly positive in FY2026. Low cash conversion (FCF ~2% of net income) constrains shareholder returns, reduces buffer for unforeseen costs, and limits optionality for M&A or accelerated capex.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Low leverage (debt-to-equity ~0.11) and expanding equity/assets provide durable financial flexibility. This conservatism supports capex, working-capital needs, and weathering demand cycles without urgent refinancing, enabling steady investment in product and market expansion over months to years.
Read all positive factors
Rishabh Instruments Limited (RISHABH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹22.36B
Dividend YieldN/A
Average Volume (3M)6.50K
Price to Earnings (P/E)27.1
Beta (1Y)1.86
Revenue Growth7.61%
EPS Growth258.14%
CountryIN
Employees1,418
SectorIndustrials
Sector Strength72
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)9.96
Shares Outstanding38,623,455
10 Day Avg. Volume4,766
30 Day Avg. Volume6,498
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)1.80
Price to Sales (P/S)1.73
P/FCF Ratio562.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Rishabh Instruments Limited Business Overview & Revenue Model
Company Description
Headquartered in Nashik, India, and established in 1982, Rishabh Instruments Limited is a global entity involved in the conception, development, manufacturing, and distribution of electrical measurement and process optimization solutions. The comp...
How the Company Makes Money
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Rishabh Instruments Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
80
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.41B | 7.75B | 7.20B | 6.90B | 5.70B | 4.68B |
| Gross Profit | 3.84B | 2.21B | 1.75B | 4.00B | 3.02B | 2.59B |
| EBITDA | 841.38M | 1.26B | 629.59M | 826.35M | 849.54M | 825.74M |
| Net Income | 386.92M | 815.33M | 226.35M | 396.61M | 468.17M | 470.64M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 10.03B | 8.86B | 7.80B | 6.49B | 5.64B |
| Cash, Cash Equivalents and Short-Term Investments | 1.98B | 2.02B | 1.98B | 1.55B | 1.06B | 1.05B |
| Total Debt | 0.00 | 805.44M | 980.33M | 576.45M | 1.06B | 1.03B |
| Total Liabilities | -6.14B | 2.54B | 2.72B | 2.17B | 2.40B | 2.18B |
| Stockholders Equity | 6.14B | 7.45B | 6.11B | 5.59B | 4.01B | 3.40B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 23.86M | -106.04M | 70.39M | -27.48M | -25.64M |
| Operating Cash Flow | 0.00 | 1.13B | 655.88M | 760.35M | 275.08M | 132.82M |
| Investing Cash Flow | 0.00 | -1.26B | -875.91M | -1.32B | -27.16M | -107.60M |
| Financing Cash Flow | 0.00 | -231.52M | 428.52M | 226.44M | -45.00M | -70.68M |
Rishabh Instruments Limited Technical Analysis
Positive
388.55
Price Trends
505.40
Positive
452.31
Positive
427.83
Positive
Market Momentum
19.61
Negative
66.37
Neutral
88.73
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RISHABH, the sentiment is Positive. The current price of 388.55 is below the 20-day moving average (MA) of 536.43, below the 50-day MA of 505.40, and below the 200-day MA of 427.83, indicating a bullish trend. The MACD of 19.61 indicates Negative momentum. The RSI at 66.37 is Neutral, neither overbought nor oversold. The STOCH value of 88.73 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:RISHABH.
Rishabh Instruments Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹1.64T | 163.79 | ― | 0.03% | 27.61% | 150.52% | |
70 Outperform | ₹22.36B | 27.10 | ― | ― | 7.61% | 258.14% | |
69 Neutral | ₹257.02B | 81.07 | ― | 0.20% | 27.28% | 76.63% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | ₹116.10B | 103.82 | ― | ― | 45.99% | 76.41% | |
57 Neutral | ₹37.62B | 50.76 | ― | ― | -16.99% | 7.58% | |
53 Neutral | ₹52.24B | -33.24 | ― | 0.25% | 6.93% | -2481.56% |
* Industrials Sector Average
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Rishabh Instruments Limited Corporate Events
Rishabh Instruments Files Q4 FY26 Earnings Call Transcript with Exchanges
May 24, 2026
Rishabh Instruments Limited has released the transcript of its earnings conference call for the fourth quarter and full fiscal year ended March 31, 2026, held on May 18, 2026. The document, shared with both the National Stock Exchange of India and...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.