Religare Enterprises Q2 Net Loss ₹1,344 Crore

Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year Ended September 30, 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Approval of Financial Results and Governance Review Update

Audit Opinion:

Limited Review Report with Emphasis of Matter - Ongoing income tax litigations and related tax demands. The conclusion on the Statement is not modified in respect of this matter.

Key Financial Highlights [Amount in ₹ Lakhs]:

Standalone Results:

Quarter Ended September 30, 2026:

Revenue from Operations: ₹178.67 lakhs (Q2 FY26: ₹88.67 lakhs)
Total Income: ₹318.47 lakhs (Q2 FY26: ₹759.58 lakhs)
Net Profit/(Loss): (₹1,343.68) lakhs (Q2 FY26: (₹397.38) lakhs)
EPS Basic: (₹0.39) (Q2 FY26: (₹0.12))
EPS Diluted: (₹0.39) (Q2 FY26: (₹0.12))

Half Year Ended September 30, 2026:

Revenue from Operations: ₹430.35 lakhs (H1 FY26: ₹112.68 lakhs)
Total Income: ₹756.64 lakhs (H1 FY26: ₹1,069.90 lakhs)
Net Profit/(Loss): (₹2,305.65) lakhs (H1 FY26: (₹1,012.19) lakhs)
EPS Basic: (₹0.68) (H1 FY26: (₹0.31))
EPS Diluted: (₹0.68) (H1 FY26: (₹0.31))

Key Balance Sheet Items (Standalone as at September 30, 2026):

Cash and cash equivalents: ₹229.17 lakhs (March 31, 2026: ₹209.96 lakhs)
Loans: ₹2,738.83 lakhs (March 31, 2026: ₹6,121.78 lakhs)
Investments: ₹2,70,609.54 lakhs (March 31, 2026: ₹2,48,525.80 lakhs)
Total Assets: ₹2,76,223.22 lakhs (March 31, 2026: ₹2,57,285.16 lakhs)
Other Equity: ₹2,30,802.63 lakhs (March 31, 2026: ₹2,13,402.74 lakhs)
Debt: Not specifically disclosed

Consolidated Results:

Quarter Ended September 30, 2026:

Total Income: ₹2,38,975.43 lakhs (Q2 FY26: ₹2,08,891.75 lakhs)
Net Profit/(Loss) After Tax: (₹9,769.17) lakhs (Q2 FY26: ₹4,592.88 lakhs)
EPS Basic: (₹1.45) (Q2 FY26: ₹1.17)
EPS Diluted: (₹1.45) (Q2 FY26: ₹1.15)
Total Comprehensive Income/(Loss): (₹22,554.09) lakhs (Q2 FY26: ₹1,892.59 lakhs)

Half Year Ended September 30, 2026:

Total Income: ₹4,71,652.52 lakhs (H1 FY26: ₹3,96,516.38 lakhs)
Net Profit/(Loss) After Tax: (₹14,467.42) lakhs (H1 FY26: ₹5,405.23 lakhs)
EPS Basic: (₹2.24) (H1 FY26: ₹1.48)
EPS Diluted: (₹2.24) (H1 FY26: ₹1.47)
Total Comprehensive Income/(Loss): (₹18,824.11) lakhs (H1 FY26: ₹7,174.58 lakhs)

Key Balance Sheet Items (Consolidated as at September 30, 2026):

Cash and Cash Equivalents: ₹16,779.69 lakhs (March 31, 2026: ₹58,806.66 lakhs)
Total Assets: ₹16,26,750.42 lakhs (March 31, 2026: ₹14,50,555.20 lakhs)
Total Liabilities: ₹12,33,169.64 lakhs (March 31, 2026: ₹10,62,802.56 lakhs)
Total Equity: ₹3,93,580.78 lakhs (March 31, 2026: ₹3,87,752.64 lakhs)

Segment-wise Performance:

Standalone Segment Revenue (Q2 FY27):

Investment & Financing Activities: ₹318.31 lakhs
Unallocated: ₹0.16 lakhs
Total: ₹318.47 lakhs

Consolidated Segment Revenue (Q2 FY27):

Insurance: ₹2,24,093.72 lakhs
Broking Related Activities: ₹8,378.66 lakhs
Investment and Financing Activities: ₹5,546.70 lakhs
E-Governance: ₹1,502.99 lakhs
Total Segment Revenue: ₹2,39,522.07 lakhs
Less: Inter-Segment Revenue: (₹547.41) lakhs
Total Net Segment Revenue: ₹2,38,974.66 lakhs

Consolidated Segment Results (Q2 FY27):

Insurance: (₹15,818.67) lakhs
Investment and Financing Activities: ₹3,631.69 lakhs
Broking Related Activities: ₹29.56 lakhs
E-Governance: ₹67.50 lakhs
Total Segment Results: (₹12,089.92) lakhs
Unallocated: (₹688.92) lakhs
Profit/(Loss) Before Tax: (₹12,778.84) lakhs

Corporate Actions:

Dividend: The Company continues to be barred from declaring dividends as per RBI letter issued in December 2019.
Share Issuance: The Company allotted 83,43,263 shares in quarter ended June 30, 2026 and 35,00,000 shares during quarter ended September 30, 2026 at a price of ₹235 per share on conversion of share warrants into equity shares.
Paid-up equity share capital increased to ₹34,473.37 lakhs divided into 34,47,33,742 equity shares of ₹10/- each as at September 30, 2026.

Other Significant Information:

Subsidiary Investments: The Company subscribed to rights issue amounting to ₹11,968.52 lakhs in Care Health Insurance Ltd (CHIL) and ₹10,000 lakhs in Religare Broking Limited during quarter ended June 30, 2026 and quarter ended September 30, 2026 respectively.
RFL OTS: RFL entered into One Time Settlement agreements with lenders (except ICICI Bank) and settled all dues by March 8, 2023. RFL also entered into upside-sharing agreement for sharing recoveries from ongoing litigations.
RFL Legal Proceedings: RFL initiated legal proceedings to recover ₹79,145 lakhs related to misappropriated fixed deposits with erstwhile LVB (now DBS Bank). Matter is sub-judice before Delhi High Court.
New Directors: RBI approved appointment of Dr. Anand Burman, Mr. Mohit Burman, Mr. Aditya Burman and Mr. Jimeet Modi to the REL Board on November 3, 2026.
Business Operations: RFL has resumed lending as a multi-line retail NBFC with branches in Lucknow, Kanpur and Noida. First loan (LAP) disbursed from Noida.
Media Release Highlights:
Care Health Insurance GWP grew 35% YoY to ₹6,897 crore in H1 FY27
Religare Finvest H1 FY27 PAT up 33% YoY to ₹64.5 crore
Broking business H1 FY27 PBT up 29% YoY to ₹13.0 crore
RHDFCL GNPA improved to 3.5% in Q2FY27 from 4.4% in Q1 FY27

Entities Included in Consolidation:

The consolidated financial results include:

Wholly Owned Subsidiaries: Religare Broking Limited, Religare Finvest Limited, MIC Insurance Web Aggregator Private Limited
Subsidiaries: Religare Credit Advisor Private Limited, Religare Care Foundation, Care Health Insurance Limited
Step Down Subsidiaries: Religare Commodities Limited, Religare Digital Solutions Limited, Religare Housing Development Finance Corporation Limited
Joint Venture: IBOF Investment Management Private Limited (investment fully impaired)
Excluded: Religare Capital Markets Limited (not consolidated due to lack of control, investment fully impaired)

Exceptional Items:

No exceptional items specifically identified in the financial results.

Change in Accounting Policy:

No change in accounting policy disclosed.

Forward-looking Guidance:

No specific forward-looking guidance or management outlook provided in the document.