# Rishabh Instruments share price today (Rishabh Instruments Ltd, NSE: RISHABH)

> Rishabh Instruments share price today: ₹640.55 at the NSE close on 4 November 2026, up 71.9% in a year. Rishabh Instruments (NSE: RISHABH) is worth ₹2,484 crore, trades at a P/E of 30.8 and has closed between ₹333.70 and ₹829.60 over the past 52 weeks. > Rishabh Instruments Ltd's results are improving, while its P/E is near the low end of its own history over 3.1 years, higher than only 27% of past readings. RISHABH · Capital Goods - Electric General · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/rishabh-instruments-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹640.55 (+71.9% in a year)
- P/E: 30.8× (lower than 73% of the last 3.1 years)
- Revenue (Jun 2026): ₹198 Cr (+4.2% on a year ago)
- Profit (Jun 2026): ₹19.0 Cr (−5.0% on a year ago)
- Operating margin: 17.0% (+2.0 points on a year ago)
- ROCE: 14%, FY26
- ROIC: 11.6%, against a 12.0% cost of capital: −0.4 points

The main question: yearly earnings per share moved +262.8% while the share price moved +71.9%. ## What is the Rishabh Instruments share price today? Rishabh Instruments Ltd's share price was ₹640.55 at the close on 4 November 2026. It has been rising for 62 weeks. That is 10.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹334 and ₹830, and at that close it sat 62% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 38 weeks in a row. Over the last 3.1 years the share price moved +43% while the NIFTY 500 moved +25%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Rishabh Instruments this quarter? Three changes stood out: profit fell in the June 2026 quarter, indian funds and insurers (DIIs) cut their stake for 3 quarters in a row and revenue up on a year earlier for 8 quarters in a row. 1. Profit fell in the June 2026 quarter Profit was ₹19 crore, -5% on a year earlier (₹20 crore), after 6 quarters of growth. Why: Profit fell because the company recorded higher depreciation, the accounting charge for wear and tear of its assets. Next results: check whether the Alucast unit gets closer to breakeven, since management expects that by the end of FY27. From the earnings call on 17 Aug 2026. 2. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row From 12.6% to 7.4% of the company by the September 2026 quarter. 3. Revenue up on a year earlier for 8 quarters in a row In the June 2026 quarter revenue was ₹198 crore, +4.2% on a year earlier. Why: Revenue rose because the electrical instrumentation business grew strongly. Next results: check whether domestic orders already booked turn into billed sales. From the earnings call on 17 Aug 2026. ## What are Rishabh Instruments' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Rishabh Instruments reported revenue of ₹198 crore, up 4.2% from ₹190 crore a year earlier, and a profit of ₹19.0 crore, down 5.0% from ₹20.0 crore. ### Rishabh Instruments results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹198 crore | ₹190 crore | +4.2% |
| Profit | ₹19.0 crore | ₹20.0 crore | −5.0% |
| Earnings per share | ₹4.92 | ₹5.13 | −4.1% |
| Operating margin | 17.0% | 15.0% | +2.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Rishabh Instruments' management discussed these results on a call held on 17 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Rishabh Instruments share price history? Rishabh Instruments closed at ₹640.55 on 4 November 2026, up 71.9% from ₹372.65 a year earlier (7 November 2025) and up 36.4% over three years. Its highest weekly close since September 2023 was ₹829.60 on 11 September 2026. ### Rishabh Instruments share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹624.55 | +2.6% |
| 1 month ago · 1 Oct 2026 | ₹698.80 | −8.3% |
| 6 months ago · 8 May 2026 | ₹527.15 | +21.5% |
| 1 year ago · 7 Nov 2025 | ₹372.65 | +71.9% |
| 3 years ago · 3 Nov 2023 | ₹469.45 | +36.4% |
| Earliest weekly close in our records · 15 Sep 2023 | ₹447.60 | +43.1% |
| Highest weekly close since September 2023, also the 52-week high · 11 Sep 2026 | ₹829.60 | −22.8% |
| Lowest weekly close since September 2023 · 13 Mar 2025 | ₹206.70 | +209.9% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹333.70 | +92.0% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (172 weekly closes from 15 September 2023 to 4 November 2026.)

## What is the latest news on Rishabh Instruments? 4 Nov 2026: Rishabh Instruments closed at ₹640.55, up 2.6% on the week and down 8.3% on the month. 17 Aug 2026: Rishabh Instruments held its results call for April to June 2026. Management guided: FY27 EI topline growth 20-25% and operating profit growth 20-22%; framework held despite Q1 outperformance. ### Earlier

- 24 Jul 2026: ex-date for a dividend of ₹2 a share. - Results for April to June 2026: Revenue up 4.2% and profit down 5.0% on a year earlier. ## What dividend does Rishabh Instruments pay? Rishabh Instruments paid ₹2 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.31% at the ₹640.55 close on 4 November 2026. The last was a dividend of ₹2 a share, ex-date 24 July 2026. ### Rishabh Instruments dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 24 Jul 2026 | ₹2 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 0 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Rishabh Instruments Ltd paid out 9% of its profit as dividends in FY26, and it paid a dividend in 1 of its last 7 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Rishabh Instruments management say on the latest results call? On the call for April to June 2026, held on 17 August 2026, Rishabh Instruments' management guided: FY27 EI topline growth 20-25% and operating profit growth 20-22%; framework held despite Q1 outperformance. > “We do not want to increase our guidance, but of course, we are doing better than what we promised, and we will try to continue doing that.”
> Dinesh Muslekar, MD & CEO, on the call for April to June 2026

### What management guided

- Lumel Alucast adjusted operating profit to reach breakeven by FY27-end. - Lumel Alucast adjusted operating margin to reach double-digit levels approximately 2 years after breakeven. - US revenue goal above ₹45 crore in FY27 and approximately ₹100 crore in 2-3 years through organic growth. - Solar inverter revenue goal ₹24-25 crore in FY27; iNeo range up to 50 kilowatts, hybrid additions and Mumbai/Delhi T&I centers planned by year-end. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/52579/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 17 August 2026.)

## What is the future of Rishabh Instruments? What is changing in the business? What is changing at Rishabh Instruments, from the latest results and calls: operating leverage inflection, product-mix shift toward high-margin eei and nashik capacity doubling. - Operating Leverage Inflection. Consolidated operating profit +119.5% on a year earlier in October to December 2025 on revenue +1.3%, profit is inflecting on near-flat revenue via cost optimisation, better sourcing and automation. ⚠ estimate
- Product-Mix Shift toward high-margin EEI. EEI (electrical & electronic instrumentation) grew 17.7% on a year earlier in October to December 2025 at 26.6% adjusted operating margin while loss-making HPDC die-casting is deliberately shrunk. ⚠ estimate
- Nashik Capacity Doubling. Two new multi-storied buildings at Nashik that double production capacity, over 50% complete, civil works expected to finish Mar/Apr 2026, operational benefits in H2 FY27. ⚠ estimate
- Geographical Diversification + Trade-deal Tailwind. Push into Africa, Middle East and South America plus India-EU FTA and India-US trade arrangements expected to enhance export competitiveness. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 17 May 2026.)

## What could change the Rishabh Instruments story? What are the risks? October to December 2025 consolidated revenue grew only 1.3% on a year earlier; the entire profit story rests on mix and cost, which has a finite runway without volume. ### The main risks

- Revenue growth remains anaemic, margin gain is mix-driven, not demand-driven: October to December 2025 consolidated revenue grew only 1.3% on a year earlier; the entire profit story rests on mix and cost, which has a finite runway without volume. ✓ fact
- US 18% import tariff + subdued European demand: An 18% duty on India-origin exports to the US, plus a subdued European industrial-automation and power-infrastructure market, both pressure the export-heavy book. ✓ fact
- HPDC die-casting shrink costs ~₹50-60 Cr of FY27 revenue: The deliberate exit from legacy automotive die-casting contracts removes ₹50-60 Cr of revenue in FY27 before higher-margin contracts ramp. ✓ fact

(Our read after the latest results, written 17 May 2026.)

## What to watch in Rishabh Instruments' next results? When Rishabh Instruments reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: EI growth and margins to remain broad-based through seasonal periods as domestic bookings and data-center wins convert into billed revenue. - What to check (from the call)
- EI growth and margins to remain broad-based through seasonal periods as domestic bookings and data-center wins convert into billed revenue. - Alucast RFQs to clear approvals and enter production programs, moving adjusted operating profit toward full-year breakeven. - Nashik commissioning and CT capacity ramp to show improved utilization, quality and lead times. - Solar inverter channel traction and iNeo/hybrid rollout to demonstrate scaling beyond initial market acceptance. ## Which stock lists is Rishabh Instruments on? Rishabh Instruments is on one of our India lists: Undervalued stocks. [Undervalued stocks Profit growth x: 2.1578947368421053](https://www.sectoralpha.in/markets/in/deep-value-stocks)

## Is Rishabh Instruments profitable? Rishabh Instruments Ltd earned ₹19.0 Cr of net profit in the Jun 2026 quarter, −5.0% on the same quarter a year earlier. Full-year FY26 profit was ₹82.0 Cr. Over 6 years profit has grown 17.0% a year on average. That is 9.6% of the quarter's revenue. The same quarter a year earlier earned ₹20.0 Cr. For the full year, FY26 profit was ₹82.0 Cr (+290.5% on the year before). Why profit moved: revenue changed +4.2% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +210.2% and revenue +5.8%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY26-Q4. revenue ₹205 Cr and profit ₹20 Cr as reported. FY27-Q1. revenue ₹198 Cr and profit ₹19 Cr as reported. Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters. ## How much revenue does Rishabh Instruments make, and is it growing? Rishabh Instruments Ltd reported ₹198 Cr of revenue in the Jun 2026 quarter, +4.2% on the same quarter a year earlier. That is the 8th quarter in a row with growth on the year before. Over 6 years it has grown 11.6% a year on average. The last full year, FY26, came in at ₹775 Cr. Why this happened. The volume option. The Nashik expansion is designed to double capacity and support export demand. As of the Q2 FY26 call it was over 50% complete with completion expected by Mar/Apr 2026 and operational benefit accruing into FY27. If volume re-accelerates this is what converts the margin story into a revenue story; until commissioning it is an option, not a delivered driver. The last four reported quarters add to ₹783 Cr. FY26 revenue was ₹775 Cr, +7.6% on the year before. Recent pace: the last four quarters grew +5.8% on average, against 11.6% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +5.8%, against +6.8% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +115.8%, against +55.3% a year (accelerating). FY26-Q4. revenue ₹205 Cr and profit ₹20 Cr as reported. FY27-Q1. revenue ₹198 Cr and profit ₹19 Cr as reported. Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Rishabh Instruments keep? Rishabh Instruments Ltd's operating margin was 17.0% in the Jun 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 7 years it has been between 7.0% and 16.0%. The latest quarter is above every full year in that period. Why this happened. The core of the thesis. Consolidated OPM went from 9% (Mar 2025) to 15-17% across Q1-Q3 FY26 while revenue barely moved. Management attributes the gain to improved raw-material sourcing, operational efficiency and a richer product mix, and states the improvement is sustainable. The company beat its initial ₹100.9 Cr FY26 adjusted-EBITDA guidance within nine months. Operating leverage on a turnaround base is genuine, but with revenue still near-flat the durability depends on volume eventually re-accelerating. Why the margin moved: operating margin changed +1.9 percentage points on the year while gross margin changed −1.4 points. So the gain came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. FY26-Q4. revenue ₹205 Cr and profit ₹20 Cr as reported. FY27-Q1. revenue ₹198 Cr and profit ₹19 Cr as reported. Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters. ## Is Rishabh Instruments' profit turning into cash? Over the last 3 years, 174% of Rishabh Instruments Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹108 Cr of operating cash against ₹82.0 Cr of profit. After ₹116 Cr of spending on assets, free cash was −₹8.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 174% of profit came in as cash: the cash cycle got 80 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 3.1× depreciation over three years. The next section checks what that spending is building. ## Where does Rishabh Instruments' cash go? Rishabh Instruments Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 184 days in FY26, up from 104 days in FY21. It spent ₹288 Cr on assets over the last 3 years. Customers take 62 days to pay, and stock sits for 213 days on average. At FY26 sales of ₹775 Cr, each day of that cycle ties up about ₹2.1 Cr, so roughly ₹391 Cr is tied up in the business at any time. FY26: customers took 62 days to pay and stock sat for 213 days, about 7.0 months of sales sitting as stock, for a full cycle of 184 days, longer than FY21's 104. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 213 days. Customers pay about 62 days after that. Suppliers are paid at 91 days. Together that makes the 184-day cycle. Spending on assets: ₹288 Cr over the last 3 years, against ₹92.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹52.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Rishabh Instruments' P/E ratio, and how does it compare with its own history? Rishabh Instruments Ltd's P/E is 30.8×, near the low end of its own history: it has been lower only 27% of the time. Its usual P/E (the middle reading) is 36.6×, over 3.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +262.8% while the price moved +71.9%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +10.9% a year; about +19.2% a year came from earnings growth and about −8.3 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Rishabh Instruments business getting better or worse? Rishabh Instruments Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +295.2% at its peak to +115.8%, but the business is still expanding, with ROCE falling at 5.7%. This is based on 8 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Rishabh Instruments story, and has it been checked? Rishabh Instruments Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: EXPANSION STARTED. Still open: Q3 FY26 consolidated revenue grew only 1.3% YoY; the entire profit story rests on mix and cost, which has a finite runway without volume. From the numbers. From the price. Price stage 2, week 62, above its 200-day line, relative strength falling. What is not proven yet. Q3 FY26 consolidated revenue grew only 1.3% YoY; the entire profit story rests on mix and cost, which has a finite runway without volume. The test written in advance. Revenue growth remains anaemic, margin gain is mix-driven, not demand-driven. Measured by: Revenue growth remains anaemic, margin gain is mix-driven, not demand-driven Q4 FY26 / Q1 FY27 consolidated revenue YoY > 8% by the next result. The test written in advance. US 18% import tariff + subdued European demand. Measured by: US 18% import tariff + subdued European demand Lumel SA YoY growth and management commentary on European order inflow by the next result. The test written in advance. HPDC die-casting shrink costs ~₹50-60 Cr of FY27 revenue. Measured by: HPDC die-casting shrink costs ~₹50-60 Cr of FY27 revenue HPDC new non-automotive contract wins and segment EBITDA margin trajectory by the next result. Lever 1 · Operating leverage: building. Consolidated EBITDA +119.5% YoY in Q3 FY26 on revenue +1.3%, profit is inflecting on near-flat revenue via cost optimisation, better sourcing and automation. What proves it keeps working: Operating Leverage Inflection. It stops working if Q4 FY26 / Q1 FY27 consolidated revenue YoY > 8%. Lever 2 · Value-added mix: building. EEI (electrical & electronic instrumentation) grew 17.7% YoY in Q3 FY26 at 26.6% adjusted EBITDA margin while loss-making HPDC die-casting is deliberately shrunk. What proves it keeps working: Product-Mix Shift toward high-margin EEI. It stops working if Q4 FY26 / Q1 FY27 consolidated revenue YoY > 8%. Lever 6 · Order-book wins: building. Two new multi-storied buildings at Nashik that double production capacity, over 50% complete, civil works expected to finish Mar/Apr 2026, operational benefits in H2 FY27. What proves it keeps working: Nashik Capacity Doubling. It stops working if Q4 FY26 / Q1 FY27 consolidated revenue YoY > 8%. Lever 10 · New geographies: building. Push into Africa, Middle East and South America plus India-EU FTA and India-US trade arrangements expected to enhance export competitiveness. What proves it keeps working: Geographical Diversification + Trade-deal Tailwind. It stops working if Q4 FY26 / Q1 FY27 consolidated revenue YoY > 8%. Sources: our stock research file (17 May 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Rishabh Instruments management deliver what it promised? What Rishabh Instruments Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Lumel Alucast FY27 Profitability Outlook Lowered · 17 August 2026. In Nov 2025, management indicated that Lumel Alucast could achieve 10%-11% EBITDA in FY27, while in Feb 2026 it guided to approximately 5% EBITDA during the transition. In Aug 2026, management instead guided to only break-even adjusted EBITDA for the full year FY27, a material further reduction in the expected profitability trajectory that was not explained. Alucast Margin Recovery Goal Delayed · 18 May 2026. Management stated in the Nov 2025 call that the high-pressure die casting segment was expected to reach 10-11% EBITDA margins in FY27. However, the May 2026 call indicates that the segment will only goal break-even levels for FY27, pushing the expectation for double-digit margins out to FY28. Alucast FY27 Profitability Guidance Lowered · 18 May 2026. During the Feb 2026 call, management provided specific guidance of approximately 5% EBITDA for the Alucast business for FY27. By the May 2026 call, this goal was reduced to simply avoiding losses or maintaining the previous year's break-even performance, citing a focus on building new project volumes. EEI Segment Margin Ceiling Reduction · 18 May 2026. In the Feb 2026 call, management guided for 20-25% EBITDA margins for the core Electrical and Electronics Instrumentation segment. In the May 2026 call, the upper end of this guidance was narrowed to 22%, representing a reduction in the identified profitability potential for the group's most critical business unit. Every quote above is taken word for word from the company’s own earnings calls. ## How much does Rishabh Instruments earn on its capital? Rishabh Instruments Ltd earned a ROCE of 14% in FY26. That is up from a low of 5% in FY25. Its return on capital used (ROIC) is 0.4 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 10.6% net margin and 0.77× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 10.6% net margin × 0.77× asset turnover × 1.34× leverage (assets divided by equity) ≈ 10.9% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 11.6% − 12.0% = −0.4 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 11.6% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 12.7%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Rishabh Instruments have too much debt? Rishabh Instruments Ltd has total debt of ₹81.0 Cr against shareholder equity of ₹749 Cr as of Jun 2026, so its debt is 0.11× its equity, which is very little. Year by year, that ratio went from 0.26 in FY23 to 0.11 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Rishabh Instruments shareholding pattern? Domestic institutions cut their stake in Rishabh Instruments Ltd by 5.8 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 7.4% of the company. Foreign institutions moved +2.2 points over the same period, to 2.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −5.8 points over 8 quarters, to 7.4%; Foreign institutions: +2.2 points over 8 quarters, to 2.3%; Promoters: −0.9 points over 8 quarters, to 69.3%. Why the owners changed: foreign institutions moved +2.2 points and domestic institutions −5.8 points over 8 quarters, while promoters moved −0.9 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Rishabh Instruments from balance-sheet trouble? For Rishabh Instruments Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Rishabh Instruments rank in its industry? 68.8 out of 100, rank 2 of 19 in Capital Goods - Electric General, with 96% of the evidence available. Rishabh Instruments Ltd scores 68.8 out of 100 against the 19 companies it is compared with in Capital Goods - Electric General, ranking 2. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 24.8 + 16.9 + 10.8 + 16.3 = 68.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Rishabh Instruments compared with? Rishabh Instruments ranks 2 of 19 Capital Goods - Electric General companies on the 4-Factor Sector Score, with 68.8 out of 100. 1. [Modison Ltd](https://www.sectoralpha.in/stocks/modison-ltd) MODISONLTD · leader · Most evidence points up · 100% evidence 78.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.1/35 · Revenue 84.9% · Profit 100% · Operating margin change -2 points · 100% evidence Capital efficiency 17.1/25 · ROCE 31% · Operating margin 11% · 100% evidence Valuation 15.1/20 · P/E 9.6× · PEG 0.46 · 100% evidence Relative strength 18.7/20 · Lead over its industry 47.3% · Lead over NIFTY 500 46.8% · 1 year 128.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 27.1 + 17.1 + 15.1 + 18.7 = 78 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. Rishabh Instruments Ltd this page RISHABH · leader · Most evidence points up · 96% evidence 68.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.8/35 · Revenue 5.8% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 16.9/25 · ROCE 14.5% · Operating margin 17% · 100% evidence Valuation 10.8/20 · P/E 30× · PEG 1.24 · 100% evidence Relative strength 16.3/20 · Lead over its industry 22.8% · Lead over NIFTY 500 25.5% · 1 year 52.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.8 + 16.9 + 10.8 + 16.3 = 68.8 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Spectrum Electrical Industries Ltd](https://www.sectoralpha.in/stocks/spectrum-electrical-industries-ltd) SPECTRUM · leader · Most evidence points up · 89% evidence 68.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Revenue 40.8% · Profit 92.3% · Operating margin change 1 points · 88% evidence Capital efficiency 17.2/25 · ROCE 17.8% · Operating margin 15% · 100% evidence Valuation 6.7/20 · P/E 135× · PEG 1.9 · 65% evidence Relative strength 20.0/20 · Lead over its industry 119.7% · Lead over NIFTY 500 122.5% · 1 year 158.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.3 + 17.2 + 6.7 + 20 = 68.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Modern Insulators Ltd](https://www.sectoralpha.in/stocks/modern-insulators-ltd) MODINSULAT · turning · Most evidence points up · 78% evidence 68.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.5/35 · Revenue 41.6% · Profit 100% · Operating margin change 8 points · 83% evidence Capital efficiency 18.3/25 · ROCE 19.3% · Operating margin 17% · 76% evidence Valuation 7.7/20 · P/E 22.4× · PEG n/a · 50% evidence Relative strength 12.6/20 · Lead over its industry 35.3% · Lead over NIFTY 500 36.4% · 1 year 195.4% · 100% evidence · 4 of 12 weeks ahead Exact sum: 29.5 + 18.3 + 7.7 + 12.6 = 68.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [V-Guard Industries Ltd](https://www.sectoralpha.in/stocks/v-guard-industries-ltd) VGUARD · quiet · Evidence leans up · 100% evidence 62.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.7/35 · Revenue 21.5% · Profit 41.7% · Operating margin change 1 points · 100% evidence Capital efficiency 16.1/25 · ROCE 18.4% · Operating margin 9% · 100% evidence Valuation 14.7/20 · P/E 28.7× · PEG 1.12 · 100% evidence Relative strength 7.3/20 · Lead over its industry -12.4% · Lead over NIFTY 500 -7.7% · 1 year -22.7% · 100% evidence · 5 of 12 weeks ahead Exact sum: 24.7 + 16.1 + 14.7 + 7.3 = 62.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Insolation Energy Ltd](https://www.sectoralpha.in/stocks/insolation-energy-ltd) INA · quiet · Evidence leans up · 81% evidence 59.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.3/35 · Revenue 81.7% · Profit 45.2% · Operating margin change -6 points · 88% evidence Capital efficiency 16.5/25 · ROCE 22.4% · Operating margin 10% · 100% evidence Valuation 19.5/20 · P/E 7.8× · PEG 0.23 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -36.5% · 1 year -61.5% · 25% evidence · 0 of 12 weeks ahead Exact sum: 16.3 + 16.5 + 19.5 + 7.5 = 59.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Alpex Solar Ltd](https://www.sectoralpha.in/stocks/alpex-solar-ltd) ALPEXSOLAR · quiet · Evidence leans up · 64% evidence 57.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.7/35 · Revenue 100% · Profit 61.3% · Operating margin change -1 points · 88% evidence Capital efficiency 19.7/25 · ROCE 44.8% · Operating margin 15% · 100% evidence Valuation 11.3/20 · P/E 8.4× · PEG n/a · 15% evidence Relative strength 7.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -21.8% · 1 year -45% · 25% evidence · 1 of 12 weeks ahead Exact sum: 18.7 + 19.7 + 11.3 + 7.9 = 57.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Ravindra Energy Ltd](https://www.sectoralpha.in/stocks/ravindra-energy-ltd) RELTD · quiet · Evidence leans up · 79% evidence 54.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.3/35 · Revenue 28.2% · Profit 53% · Operating margin change 14.6 points · 88% evidence Capital efficiency 15.3/25 · ROCE 14.4% · Operating margin 31.8% · 100% evidence Valuation 9.4/20 · P/E 44.7× · PEG n/a · 15% evidence Relative strength 4.1/20 · Lead over its industry -8.7% · Lead over NIFTY 500 -4.4% · 1 year -16.4% · 100% evidence · 5 of 12 weeks ahead Exact sum: 25.3 + 15.3 + 9.4 + 4.1 = 54.1 · What this means: Earnings are strong; relative strength in its sector is -8.7% and the one-year return is -16.4%. 9. [IKIO Technologies Ltd](https://www.sectoralpha.in/stocks/ikio-technologies-ltd) IKIO · quiet · Evidence leans up · 78% evidence 53.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.2/35 · Revenue 34.5% · Profit 100% · Operating margin change 4 points · 83% evidence Capital efficiency 9.5/25 · ROCE 9.5% · Operating margin 13% · 76% evidence Valuation 13.1/20 · P/E 26.8× · PEG n/a · 50% evidence Relative strength 5.5/20 · Lead over its industry -5.4% · Lead over NIFTY 500 -1.9% · 1 year -22.8% · 100% evidence · 7 of 12 weeks ahead Exact sum: 25.2 + 9.5 + 13.1 + 5.5 = 53.3 · What this means: Earnings are strong; relative strength in its sector is -5.4% and the one-year return is -22.8%. 10. [Siemens Ltd](https://www.sectoralpha.in/stocks/siemens-ltd) SIEMENS · losing its lead · Evidence leans up · 78% evidence 50.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.3/35 · Revenue 13.2% · Profit 33.7% · Operating margin change -4 points · 83% evidence Capital efficiency 17.2/25 · ROCE 21.4% · Operating margin 9% · 76% evidence Valuation 5.5/20 · P/E 78.2× · PEG n/a · 50% evidence Relative strength 8.8/20 · Lead over its industry -4.2% · Lead over NIFTY 500 -0.3% · 1 year 6.7% · 100% evidence · 7 of 12 weeks ahead Exact sum: 19.3 + 17.2 + 5.5 + 8.8 = 50.8 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 11. [Swelect Energy Systems Ltd](https://www.sectoralpha.in/stocks/swelect-energy-systems-ltd) SWELECTES · turning · Evidence leans down · 89% evidence 48.9 out of 100 Growth Capital Valuation Relative
12. [HPL Electric & Power Ltd](https://www.sectoralpha.in/stocks/hpl-electric-power-ltd) HPL · quiet · Evidence leans down · 81% evidence 48.3 out of 100 Growth Capital Valuation Relative
13. [Kirloskar Electric Company Ltd](https://www.sectoralpha.in/stocks/kirloskar-electric-company-ltd) KECL · quiet · Evidence leans down · 79% evidence 43.3 out of 100 Growth Capital Valuation Relative
14. [Salzer Electronics Ltd](https://www.sectoralpha.in/stocks/salzer-electronics-ltd) SALZERELEC · quiet · Evidence leans down · 81% evidence 41.4 out of 100 Growth Capital Valuation Relative
15. [Servotech Renewable Power System Ltd](https://www.sectoralpha.in/stocks/servotech-renewable-power-system-ltd) SERVOTECH · basing · Evidence leans down · 78% evidence 39.7 out of 100 Growth Capital Valuation Relative
16. [Honda India Power Products Ltd](https://www.sectoralpha.in/stocks/honda-india-power-products-ltd) HONDAPOWER · quiet · Evidence leans down · 81% evidence 39.4 out of 100 Growth Capital Valuation Relative
17. [Exicom Tele-Systems Ltd](https://www.sectoralpha.in/stocks/exicom-tele-systems-ltd) EXICOM · quiet · Evidence leans down · 68% evidence 38.9 out of 100 Growth Capital Valuation Relative
18. [Focus Lighting & Fixtures Ltd](https://www.sectoralpha.in/stocks/focus-lighting-fixtures-ltd) FOCUS · Most evidence points down · 69% evidence 24.4 out of 100 Growth Capital Valuation Relative
19. [Igarashi Motors India Ltd](https://www.sectoralpha.in/stocks/igarashi-motors-india-ltd) IGARASHI · quiet · Most evidence points down · 89% evidence 23.4 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Capital Goods - Electric General](https://www.sectoralpha.in/sectors/capital-goods-electric-general), all 19 compared on one page. ## Which companies are close to Rishabh Instruments in size? Rishabh Instruments is the 5th largest of 19 Capital Goods - Electric General companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: V-Guard Industries, Spectrum Electrical Industries and Ravindra Energy. Just below it: Honda India Power Products, Exicom Tele-Systems and Alpex Solar. ### Capital Goods - Electric General companies close in size

1. [V-Guard Industries Ltd](https://www.sectoralpha.in/stocks/v-guard-industries-ltd) ₹12,247 crore
2. [Spectrum Electrical Industries Ltd](https://www.sectoralpha.in/stocks/spectrum-electrical-industries-ltd) ₹6,757 crore
3. [Ravindra Energy Ltd](https://www.sectoralpha.in/stocks/ravindra-energy-ltd) ₹2,671 crore
4. Rishabh Instruments Ltd ₹2,424 crore
5. [Honda India Power Products Ltd](https://www.sectoralpha.in/stocks/honda-india-power-products-ltd) ₹1,777 crore
6. [Exicom Tele-Systems Ltd](https://www.sectoralpha.in/stocks/exicom-tele-systems-ltd) ₹1,740 crore
7. [Alpex Solar Ltd](https://www.sectoralpha.in/stocks/alpex-solar-ltd) ₹1,687 crore

[All 19 Capital Goods - Electric General companies, largest first](https://www.sectoralpha.in/sectors/capital-goods-electric-general#all-companies)

### Companies close in size in other industries

1. [Flair Writing Industries Ltd](https://www.sectoralpha.in/stocks/flair-writing-industries-ltd) ₹2,430 crore · Printing & Stationery
2. [Crizac Ltd](https://www.sectoralpha.in/stocks/crizac-ltd) ₹2,425 crore · Platform - Education
3. Rishabh Instruments Ltd ₹2,424 crore
4. [KMC Speciality Hospitals (India) Ltd](https://www.sectoralpha.in/stocks/kmc-speciality-hospitals-indialtd) ₹2,420 crore · Hospitals
5. [Imagicaaworld Entertainment Ltd](https://www.sectoralpha.in/stocks/imagicaaworld-entertainment-ltd) ₹2,419 crore · Amusement Parks

## What else do people ask about Rishabh Instruments? ### What is Rishabh Instruments's share price today? Rishabh Instruments Ltd's share price is ₹640.55, +71.9% over the past year. The whole company is worth ₹2,484 Cr on the market. In the last 52 weeks it traded between ₹334 to ₹830; today it is 62% of the way up from the low, 10.2% above its 200-day average (as of 4 November 2026). ### What were Rishabh Instruments's latest quarterly results? Rishabh Instruments Ltd reported revenue of ₹198 Cr and net profit of ₹19.0 Cr for the Jun 2026 quarter. Revenue rose 4.2% and profit fell 5.0% compared with a year earlier. Earnings per share were ₹4.92. The operating margin was 17.0%, 2.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Rishabh Instruments's market cap? Rishabh Instruments Ltd's market capitalisation is ₹2,484 Cr at a share price of ₹640.55. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Rishabh Instruments performing? Rishabh Instruments Ltd's share price has been rising for 62 weeks. In its latest quarter, revenue rose 4.2% and profit fell 5.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 38 weeks running (as of 4 November 2026). ### Will Rishabh Instruments's share price go up? This page does not forecast Rishabh Instruments Ltd's share price. What it shows instead: the share price is ₹640.55, and it has been rising for 62 weeks. Its P/E of 30.8× is higher than 27% of its own last 3 years (as of 4 November 2026). ### Who owns Rishabh Instruments? Promoters own 69.3% of Rishabh Instruments Ltd, foreign institutions 2.3%, domestic institutions 7.4% and the public 21.0% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 5.8 percentage points over 8 quarters (as of 4 November 2026). ### Does Rishabh Instruments have too much debt? No, Rishabh Instruments Ltd has little debt: its debt is 0.11× its equity, and its operating profit is 21 times its interest bill. FY26 borrowings were ₹81.0 Cr against equity of ₹745 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is Rishabh Instruments in its business cycle? Rishabh Instruments Ltd's FY26 operating margin was 16.0%, against a 7-year range of 7.0% to 16.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 17.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Rishabh Instruments story? The main question: yearly earnings per share moved +262.8% while the share price moved +71.9%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Rishabh Instruments a stock worth studying right now? What the numbers show: Rishabh Instruments Ltd's results are improving, while its P/E is near the low end of its own history over 3.1 years, higher than only 27% of past readings. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Rishabh Instruments share price forecast for 2026? What management itself guided: FY27 EI topline growth 20-25% and operating profit growth 20-22%; framework held despite Q1 outperformance. What is changing at Rishabh Instruments, from the latest results and calls: operating leverage inflection, product-mix shift toward high-margin eei and nashik capacity doubling. What would change the story: October to December 2025 consolidated revenue grew only 1.3% on a year earlier; the entire profit story rests on mix and cost, which has a finite runway without volume. ## Lists

- Undervalued stocks: https://www.sectoralpha.in/markets/in/deep-value-stocks

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