Religare Enterprises Reports Q3 FY26 Results with Net Loss of Rs 1,131.19 Lakhs
Religare Enterprises announced Q3 FY26 financial results showing mixed performance with standalone revenue declining 55.35% to Rs 238.61 lakhs and net loss of Rs 1,131.19 lakhs. Consolidated operations showed 24% revenue growth to Rs 2,05,638.66 lakhs but reported higher net loss of Rs 7,654.02 lakhs, primarily driven by insurance segment challenges.
*this image is generated using AI for illustrative purposes only.
Religare Enterprises Limited announced its unaudited financial results for Q3 FY26 ended December 31, 2025, with the Board of Directors approving the results during their meeting held on February 14, 2026. The meeting commenced at 12:05 P.M. and concluded at 01:42 P.M.
Standalone Financial Performance
The company reported challenging standalone financial results for the quarter, reflecting operational difficulties across key metrics.
| Financial Metric: | Q3 FY26 | Q3 FY25 | Change |
|---|---|---|---|
| Total Revenue from Operations: | Rs 238.61 lakhs | Rs 534.37 lakhs | -55.35% |
| Interest Income: | Rs 69.05 lakhs | Rs 3.76 lakhs | +1,736.17% |
| Net Gain on Fair Value Changes: | Rs 28.62 lakhs | Rs 88.67 lakhs | -67.74% |
| Total Income: | Rs 238.61 lakhs | Rs 534.37 lakhs | -55.35% |
| Net Loss After Tax: | Rs (1,131.19) lakhs | Rs (1,337.22) lakhs | Reduced Loss |
Consolidated Financial Results
The consolidated results showed significantly higher revenue but substantial losses, primarily driven by insurance operations.
| Consolidated Metric: | Q3 FY26 | Q3 FY25 | Change |
|---|---|---|---|
| Total Revenue from Operations: | Rs 2,05,638.66 lakhs | Rs 1,65,846.16 lakhs | +24.00% |
| Income from Insurance Premium (Net): | Rs 1,74,359.56 lakhs | Rs 1,42,285.41 lakhs | +22.55% |
| Interest Income: | Rs 23,865.34 lakhs | Rs 18,158.31 lakhs | +31.43% |
| Net Loss After Tax: | Rs (7,654.02) lakhs | Rs (6,321.89) lakhs | Increased Loss |
Capital Structure Updates
During Q3 FY26, the company made significant equity share allotments that impacted its capital structure:
ESOP Allotments:
- Allotted 1,01,000 equity shares under "Religare Enterprises Limited Employees Stock Option Plan 2019"
- Exercise price ranged from Rs 39.55 per share to Rs 159.25 per share
- Face value of Rs 10 per share
Warrant Conversion:
- Allotted 19,85,816 shares at Rs 235 per share
- Conversion from share warrants during the quarter
- Shares allotted on December 05, 2025
| Capital Structure Details: | Amount |
|---|---|
| Paid-up Equity Capital: | Rs 33,274.05 lakhs |
| Total Equity Shares: | 33,27,40,479 shares |
| Face Value per Share: | Rs 10 |
Segment Performance Analysis
The company restructured its segment reporting during the period, bifurcating Investment & Financial Activities into lending, broking, insurance, and other investment activities.
| Segment Revenue (Q3 FY26): | Standalone | Consolidated |
|---|---|---|
| Lending Activities: | Rs 69.19 lakhs | Rs 4,992.28 lakhs |
| Broking Activities: | Rs 57.23 lakhs | Rs 8,080.41 lakhs |
| Insurance Activities: | Rs 5.56 lakhs | Rs 1,93,192.24 lakhs |
| Investment-Others: | Rs 71.43 lakhs | - |
Regulatory and Operational Updates
The company continues to operate under certain regulatory constraints:
Dividend Restrictions:
- Company remains barred from declaring dividends as per RBI letter issued in December 2019
Governance Review:
- Ongoing governance review of the company and subsidiaries Religare Finvest Limited (RFL) and Religare Housing Development Finance Corporation Limited (RHDFCL)
- External law firm engaged for conducting the review
- Objective to review past operating practices and suggest improvements
Labour Code Impact:
- Government of India notified four Labour Codes effective November 21, 2025
- Incremental impact on gratuity of Rs 27.62 lakh and leave encashment of Rs 12.93 lakh
- Impact charged to profit and loss account for the quarter
Auditor Review and Compliance
The unaudited financial results were subjected to limited review by M/s J C Bhalla & Co., Statutory Auditors of the Company, in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The results demonstrate Religare Enterprises' continued focus on regulatory compliance and corporate governance improvements while managing operational challenges across its diversified business segments.
Historical Stock Returns for Religare Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.41% | -0.99% | -18.06% | -18.03% | -17.13% | +134.47% |
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