Religare promoters declare no encumbrance on shares in FY26

1 min read Updated on 27 May 2026, 11:32 PM

Reviewed by

Suketu GScanX News Team

AI Summary

Religare Enterprises Ltd promoters, including Persons Acting in Concert, declared no encumbrance on 10,07,75,486 equity shares held as of March 31, 2026. The disclosure was filed on April 7, 2026, under Regulation 31(4) of SEBI SAST Regulations. Major shareholders include Puran Associates Pvt Ltd and V I C Enterprises Pvt Ltd.

*this image is generated using AI for illustrative purposes only.

Promoters of Religare Enterprises Ltd , including Persons Acting in Concert (PAC), have declared that they have not created any encumbrance on their equity shares during the financial year ended March 31, 2026. The disclosure, submitted to the National Stock Exchange of India Ltd and BSE Limited, confirms that the total holding of 10,07,75,486 equity shares of ₹10 each remains free from charges. This declaration is mandatory under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, ensuring transparency regarding the holding status of promoter shares.

The filing was made on April 7, 2026, by Puran Associates Private Limited on behalf of all promoters and PACs. The detailed shareholding pattern attached to the disclosure lists six entities and individuals. The largest shareholder among the promoters is Puran Associates Pvt Ltd, holding 3,54,77,752 shares. Other significant entities include V I C Enterprises Pvt Ltd with 2,57,55,533 shares and M.B. Finmart Pvt. Ltd. with 1,87,90,473 shares.

The complete list of promoter shareholdings as of March 31, 2026, is outlined below:

S No.	Names of Promoters including Persons acting in Concert (PAC)	Number of shares of Rs.10/- each
1	M.B. Finmart Pvt. Ltd.	1,87,90,473
2	Milky Investment and Trading Co.	1,00,27,159
3	Puran Associates Pvt Ltd.	3,54,77,752
4	V I C Enterprises Pvt Ltd.	2,57,55,533
5	Mrs. Shivani Burman	9,397,569
6	Gyan Enterprises Pvt Ltd.	1,327,000
TOTAL		10,07,75,486

The declaration was addressed to the exchanges and the company's Audit & Governance Committee. The confirmation of no encumbrance provides assurance to the market regarding the unencumbered status of the promoter's holding for the specified period.

Historical Stock Returns for Religare Enterprises

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.02%	+3.95%	+6.52%	-3.69%	+2.00%	+130.74%

Will the unencumbered status of promoter shares encourage them to increase their stake or pledge shares for future fundraising?

How might this transparency impact investor confidence and Religare Enterprises' stock performance in the upcoming quarter?

Are there any strategic acquisitions or business expansions planned that could utilize this clean shareholding status?

Consolidated Financial Performance

For the quarter ended March 31, 2026, Religare Enterprises reported consolidated revenue from operations of Rs. 2,467.42 Cr, compared to Rs. 2,041.86 Cr in the year-ago period. The consolidated net profit for Q4 FY26 stood at Rs. 87.26 Cr, against Rs. 243.30 Cr in the corresponding quarter of the previous year. For the full year FY26, consolidated total income was Rs. 8,459.36 Cr against total expenses of Rs. 8,372.10 Cr, resulting in a full-year consolidated net profit of Rs. 87.26 Cr.

On a standalone basis, the company reported a Net Loss of Rs. 12.36 Cr for Q4 FY26 and a Net Loss of Rs. 33.92 Cr for FY26.

The following table summarises the key consolidated and standalone financial metrics:

Metric:	Q4 FY26	FY26 (Rs. Cr)
Revenue (Consolidated)	Rs. 2,467.42 Cr	8,459.36
Total Expenses (Consolidated)	—	8,372.10
Net Profit / (Loss) (Consolidated)	Rs. 87.26 Cr	87.26
Total Income (Standalone)	Rs. 3.36 Cr	16.44
Total Expenses (Standalone)	Rs. 15.72 Cr	50.36
Net Profit / (Loss) (Standalone)	Rs. (12.36) Cr	(33.92)

Subsidiary Highlights

Care Health Insurance reported a Gross Written Premium (GWP) of Rs. 11,417 Cr for FY26, up 24% y-o-y, with a Profit Before Tax of Rs. 539 Cr. Religare Finvest Limited (RFL) reported a PAT of Rs. 138.8 Cr in FY26, a significant increase from Rs. 24 Cr in FY25, driven by improved recoveries and a CRAR of 261.9%. Religare Broking Limited (RBL) reported a total income of Rs. 373.4 Cr and a PAT of Rs. 23.1 Cr for FY26.

Key Corporate Developments

During FY26, the company allotted 19,85,816 shares at Rs. 235 per share on conversion of share warrants into equity shares, and also allotted 2,51,000 equity shares pursuant to exercise of stock options under the REL ESOP Scheme 2019. The Board approved a Scheme of Arrangement for the demerger of the financial services business of REL to Religare Finvest Limited (RFL), subject to regulatory approvals. The Reserve Bank of India withdrew all restrictions imposed under the Corrective Action Plan (CAP) on RFL with immediate effect in July 2025.

Regulatory Disclosure

In compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Religare Enterprises published its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 in the May 13, 2026 editions of Financial Express (English Daily) and Jansatta (Hindi Daily). The filing was signed by Anuj Jain, Company Secretary & Compliance Officer.

Historical Stock Returns for Religare Enterprises

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.02%	+3.95%	+6.52%	-3.69%	+2.00%	+130.74%

How will the proposed demerger of REL's financial services business into Religare Finvest Limited impact the consolidated revenue structure and investor valuation once regulatory approvals are secured?

Given Care Health Insurance's 24% GWP growth, what competitive pressures or regulatory changes in the health insurance sector could challenge its ability to sustain this growth trajectory in FY27?

With RFL's CRAR standing at an exceptionally high 261.9% following RBI's removal of CAP restrictions, how aggressively is management likely to redeploy capital to scale the lending business?