Ravindra Energy share price & results
- Jun 2026
- Sept 2026
Makes 55-tonne e-tractors with battery-swapping (EIM) and runs solar power plants in Maharashtra & Karnataka.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 92.0 | −36.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 11.0 | −6.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 14.0 | −41.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 15.94 | +7.8 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -50.00 | −12.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 28.23 | −18.2 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −7.6% 1Y
1Y: ₹142.03 on 24 Oct 2025 → ₹131.26. High ₹183.08 (7 Jul 2026), low ₹119.75 (30 Mar 2026).
- Previous close
- ₹126.34
- Market cap
- ₹2.5k Cr
- 52-week range
- ₹119.75 – ₹183.08
- One year
- −13.04%
- Price to earnings (TTM to Jun 2026)
- 42.03×
- Return on equity (TTM to Jun 2026)
- 15.94%
Overview
- Symbol
- NSE:RELTD
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Ravindra Energy Limited does
Based on the company's own presentations, annual report and earnings calls.
Ravindra Energy Limited operates two distinct businesses run through group entities: electric mobility, via its 49.5%-owned subsidiary Energy in Motion Limited (EIM), which supplies 55-tonne heavy-duty electric tractors to port, cement, steel and mining logistics operators and monetizes them through a subscription-based Battery-as-a-Service (BaaS) model built on a network of battery-swapping stations; and distributed solar power generation, developing rural feeder solarization projects under the government's PM KUSUM scheme, open-access (commercial & industrial) solar, and rooftop solar plants across Maharashtra and Karnataka. EIM's e-tractor supply is backed by a multi-year OEM licensing arrangement to assemble, market and distribute commercial vehicles above 18-tonne capacity in India, a battery-sourcing relationship with China's CATL, and a charging/swapping infrastructure joint venture with Golden Green Innovations Private Limited (a J M Baxi group company). The solar business sells power generated from its plants to state utilities and industrial off-takers under long-term power purchase/land agreements.
Segments
- Electric Mobility (Energy in Motion Ltd - EIM)
- Power Generation - Distributed Solar Energy
- Solar power operational capacity
- 187 MWp (Dec 2025), across rural feeder solarization + open access/rooftop
- Solar plant geographic presence
- Maharashtra and Karnataka
- Market position in e-tractors
- Among top 3 e-tractor OEMs in India, ~15% market share
- E-tractors sold (cumulative)
- 125 units (as of Dec 2025)
- E-tractor order book
- 263 units
- Battery-swapping stations operational
- 2 (Nhava Sheva/JNPT Mumbai and Sonipat)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −42% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4 | 39 | 142 | 144 | 102 | 102 | 97 | 92 |
| Expenses | 5 | 34 | 121 | 119 | 72 | 87 | 90 | 82 |
| Operating profit | -1 | 5 | 20 | 24 | 30 | 15 | 7 | 10 |
| Operating margin | −20.0% | 14.0% | 14.0% | 17.0% | 29.0% | 15.0% | 7.0% | 11.0% |
| Other income | 2 | 2 | -10 | 1 | 3 | 5 | 10 | 5 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 0 | 7 | 9 | 24 | 32 | 19 | 16 | 14 |
| Tax rate | −569.0% | 14.0% | −12.0% | 0.0% | 0.0% | −1.0% | 0.0% | 0.0% |
| Net profit | 2 | 6 | 10 | 24 | 32 | 19 | 16 | 14 |
| EPS (₹ per share) | 0.12 | 0.30 | 0.53 | 1.23 | 1.60 | 0.97 | 0.81 | 0.69 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 435 | 57 | 189 | 445 |
| Expenses | 421 | 52 | 164 | 368 |
| Operating profit | 14 | 5 | 23 | 76 |
| Other income | 33 | 8 | 4 | 19 |
| Interest | 15 | 1 | 0 | 0 |
| Depreciation | 12 | 0 | 2 | 4 |
| Profit before tax | 21 | 11 | 24 | 91 |
| Net profit | 15 | 11 | 24 | 91 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 134 | 138 | 154 | 179 | 179 | 179 |
| Reserves | 80 | 53 | -7 | 172 | 215 | 265 |
| Borrowings | 12 | 5 | 19 | 6 | 386 | 9 |
| Other liabilities | 7 | 32 | 7 | 31 | 137 | 77 |
| Total liabilities | 233 | 227 | 174 | 388 | 916 | 530 |
| Fixed assets | 7 | 12 | 11 | 14 | 653 | 17 |
| Capital work in progress | 0 | 0 | 0 | 0 | 47 | 4 |
| Investments | 88 | 109 | 102 | 188 | 51 | 277 |
| Other assets | 138 | 106 | 62 | 186 | 165 | 233 |
| Total assets | 233 | 227 | 174 | 388 | 916 | 530 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 29 | -28 | 45 | -26 | -24 | 148 |
| Cash from investing | -2 | 23 | 5 | 4 | -117 | -143 |
| Cash from financing | -34 | 1 | -39 | 21 | 162 | -1 |
| Net cash flow | -8 | -3 | 11 | 0 | 22 | 3 |
| Free cash flow | 28 | -21 | 38 | -26 | -29 | 141 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 175 | 146 | 137 | 59 | 87 | 13 |
| Inventory days | 12 | 7 | 18 | 33 | 12 | 19 |
| Days payable | 61 | 24 | 155 | 35 | 23 | 10 |
| Cash conversion cycle | 126 | 129 | 0 | 56 | 76 | 22 |
| Working capital days | 440 | 576 | 716 | 110 | 213 | 94 |
| Return on capital employed | 1.0% | −55.0% | 2.0% | 7.0% | 12.0% | 24.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Solar contributes 96.1% of reported segment revenue.
Year ended 31 Mar 2026 · Consolidated
- Solar 96.1%
₹541.76 crore
- Trading 3.9%
₹21.97 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Solar | 541.76 | 96.1% |
| Trading | 21.97 | 3.9% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹563.74 crore
- Intersegment adjustment
- ₹0.00 crore
- Net segment revenue
- ₹563.74 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Trading shrank from 30% to 3% of revenue over the last two years.
| Segment | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Solar | 70% | 52% | 88% | 97% | 96% | 94% | 97% | 97% | -11.8% |
| Trading | 30% | 48% | 12% | 3% | 4% | 6% | 3% | 3% | -13.7% |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
Ownership
Who owns it
Promoters hold 58.25% as of Sept 2026; institutions cut 0.08 pts since Jun 2026.
- Promoters 58.25%
- Foreign institutions 3.18%
- Domestic institutions 3.00%
- Public 35.59%
Who is on the register
Named in the Sep 2026 filing
Every holder of Ravindra Energy Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 30.49% | unchanged | |
| 20.92% | unchanged | |
| 5.60% | unchanged | |
| Mutual fund | 2.97% | unchanged |
| 2.59% | unchanged | |
| 2.47% | unchanged | |
| 2.17% | −0.35 pp | |
| 2.16% | unchanged | |
| 1.22% | unchanged | |
| FPI fund | 1.01% | unchanged |
| 0.23% | unchanged | |
| 0.14% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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