RELTD
Ravindra Energy share price & financials
- Price
- ₹170.75
- Market cap
- ₹3.1k Cr
- Sector
- Capital Goods
What Ravindra Energy Limited does
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)
Quarterly results
Q1 FY27: revenue down 26.2%, net profit down 92.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 16 | 53 | 159 | 163 | 120 +672% | 127 +139% | 133 −16% | 120 −26% |
| EBITDA | 1 | 7 | 27 | 28 | 37 +6214% | 32 +352% | 34 +23% | 38 +37% |
| Net profit | 1 | 2 | 13 | 23 | 31 +2577% | 15 +572% | 13 −2% | 2 −93% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +3.8% 1Y
1Y: ₹149.99 on 10 Sept 2025 → ₹155.64. High ₹183.08 (7 Jul 2026), low ₹119.75 (30 Mar 2026).
Financials, as filed
Revenue grew 7.7% a year over 3 years, FY23 to FY26. Operating margin widened to 24.1%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹435 Cr | ₹131 Cr | ₹250 Cr | ₹543 Cr |
| Operating profit | ₹14 Cr | ₹33 Cr | ₹42 Cr | ₹131 Cr |
| Operating margin | 3.2% | 25.2% | 16.9% | 24.1% |
| Interest | ₹15 Cr | ₹16 Cr | ₹10 Cr | ₹35 Cr |
| Depreciation | ₹12 Cr | ₹13 Cr | ₹11 Cr | ₹28 Cr |
| Net profit | ₹15 Cr | ₹-51 Cr | ₹22 Cr | ₹81 Cr |
| Net margin | 3.4% | -38.9% | 8.7% | 14.9% |
| Cash from operations | ₹122 Cr | ₹61 Cr | ₹71 Cr | ₹172 Cr |
| Free cash flow | ₹84 Cr | ₹-15 Cr | ₹-106 Cr | ₹-284 Cr |
| ROCE | 10.0% | 11.0% | 10.0% | 16.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹120 Cr | ₹134 Cr | ₹138 Cr | ₹154 Cr | ₹179 Cr | ₹179 Cr |
| Reserves | ₹43 Cr | ₹69 Cr | ₹55 Cr | ₹-7 Cr | ₹215 Cr | ₹244 Cr |
| Borrowings | ₹177 Cr | ₹164 Cr | ₹117 Cr | ₹148 Cr | ₹386 Cr | ₹502 Cr |
| Other liabilities | ₹60 Cr | ₹85 Cr | ₹145 Cr | ₹108 Cr | ₹137 Cr | ₹206 Cr |
| Total liabilities | ₹400 Cr | ₹453 Cr | ₹455 Cr | ₹404 Cr | ₹916 Cr | ₹1.1k Cr |
| Fixed assets | ₹174 Cr | ₹190 Cr | ₹187 Cr | ₹257 Cr | ₹653 Cr | ₹870 Cr |
| Capital work in progress | ₹1 Cr | ₹3 Cr | ₹31 Cr | ₹24 Cr | ₹47 Cr | ₹22 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹51 Cr | ₹41 Cr |
| Other assets | ₹225 Cr | ₹260 Cr | ₹237 Cr | ₹123 Cr | ₹165 Cr | ₹198 Cr |
| Total assets | ₹400 Cr | ₹453 Cr | ₹455 Cr | ₹404 Cr | ₹916 Cr | ₹1.1k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −6.51 pp while the public added +5.14 pp.
- Promoters
- 58.3%
- FIIs
- 3.3%
- DIIs
- 3.0%
- Public
- 35.5%
Since Jun 2025
- Promoters −6.51 pp
- Public +5.14 pp
- DIIs +1.08 pp
How it drifted, 12 quarters
Over this window promoters fell from 75.0% to 58.3% — −16.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, Public 25.0%.Dec '23: Promoters 75.0%, FIIs 0.1%, Public 24.9%.Mar '24: Promoters 75.0%, FIIs 0.1%, Public 24.9%.Jun '24: Promoters 75.0%, FIIs 0.1%, Public 24.9%.Sep '24: Promoters 75.0%, FIIs 0.0%, DIIs 0.1%, Public 24.9%.Dec '24: Promoters 64.8%, FIIs 3.2%, DIIs 1.4%, Public 30.7%.Mar '25: Promoters 64.8%, FIIs 3.2%, DIIs 1.4%, Public 30.6%.Jun '25: Promoters 64.8%, FIIs 3.0%, DIIs 1.9%, Public 30.4%.Sep '25: Promoters 64.8%, FIIs 2.6%, DIIs 1.9%, Public 30.7%.Dec '25: Promoters 64.8%, FIIs 2.1%, DIIs 1.9%, Public 31.2%.Mar '26: Promoters 63.7%, FIIs 2.0%, DIIs 2.8%, Public 31.6%.Jun '26: Promoters 58.3%, FIIs 3.3%, DIIs 3.0%, Public 35.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Golden Green Innovations Private Limited newly disclosed 2.52% held
- New Vernon India Limited FPI fund newly disclosed 1.01% held
- Quant Mutual Fund A/C Quant Infrastructure Fund Mutual fund +0.16 pp 2.97% held
The same filing shows 5 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Ravindra Energy Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Khandepar Investments Private Limited | 30.49% | −3.05 pp |
| Narendra Madhusudan Murkumbi | 20.92% | −2.33 pp |
| Apoorva Narendra Murkumbi | 5.60% | unchanged |
| Quant Mutual Fund A/C Quant Infrastructure Fund Mutual fund | 2.97% | +0.16 pp |
| Shailesh Nandkishor Rojekar | 2.59% | −0.16 pp |
| Golden Green Innovations Private Limited | 2.52% | newly disclosed |
| Romarsol Limited | 2.47% | −0.28 pp |
| Shree Renuka Sugars Development Foundation | 2.16% | −0.16 pp |
| Mukul Mahavir Agrawal | 1.22% | unchanged |
| New Vernon India Limited FPI fund | 1.01% | newly disclosed |
| Vidya Murkumbi | 0.23% | unchanged |
| Supriya Shailesh Rojekar | 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.
Learn to analyse Ravindra Energy Limited
Guides on how to read this kind of business and the numbers that matter.