Rishab Instruments Jumps After Delivering 293% Profit Jump to ₹82 Cr in Q4 FY26

Synopsis:- Backed by a sharp operational recovery and improved margin performance across both domestic and international geographies, Rishabh Instruments Limited reported consolidated profit after tax of Rs. 82.26 crore for FY2026, a 293 percent jump over the Rs. 20.97 crore reported in FY2025, alongside a final dividend recommendation of Rs. 2 per share.

A Nashik-based manufacturer of test and measuring instruments came sharply back into focus on May 18, 2026, after its board approved audited financial results showing a near-fourfold recovery in annual profitability. The consolidated numbers for FY2026 reflect a broad-based earnings turnaround after two years of compressing margins had weighed on the stock.

With a market capitalization of Rs. 1,886.36 crore, the shares of Rishabh Instruments Limited were trading at Rs. 487.95 per share, up 1.89 percent from its previous closing price of Rs.478.9. It is trading at a P/E of 20.97.

Consolidated revenue from operations for FY2026 stood at Rs. 775.15 crore, up approximately 7.6 percent from Rs. 720.04 crore in FY2025. The more significant shift came at the profitability level: profit before tax expanded to Rs. 105.97 crore from Rs. 29.84 crore in the prior year, and PAT came in at Rs. 82.26 crore against Rs. 20.97 crore, a 293 percent year-on-year recovery. Operating margins, which had deteriorated to a low single-digit range through much of FY2025, recovered materially through the second half of FY2026, reaching 15 to 17 percent in Q2 and Q3 FY2026 on a consolidated quarterly basis.

On a standalone basis, the picture is similarly strong. Standalone revenue from operations for FY2026 was Rs. 267.62 crore, up from Rs. 239.19 crore, while standalone PAT came in at Rs. 41.67 crore compared to Rs. 23.75 crore, a 75 percent increase. The standalone margin recovery is notable given that the holding company was already generating the bulk of operating cash: standalone net cash from operations reached Rs. 58.10 crore for the year.

The Q4 FY2026 performance on a consolidated basis was also ahead of the prior-year quarter. Revenue for the March quarter reached Rs. 204.86 crore, against Rs. 174.50 crore in Q4 FY2025, with PAT of Rs. 20.03 crore against Rs. 6.11 crore.

The Board recommended a final dividend of Rs. 2 per equity share of face value Rs. 10 each for FY2026. The recommendation is subject to shareholder approval at the upcoming AGM, and the record date will be communicated separately. This would be the first dividend payout the company has made in several years  Screener data shows a zero dividend payout ratio across FY2020 through FY2025  making the declaration a notable governance signal alongside the earnings recovery.

Geographic Revenue Mix

The group operates through a single business segment  test, measuring, and industrial control products  but reports revenue across three geographies. For FY2026, Europe contributed Rs. 526.84 crore (approximately 68 percent of consolidated revenue), Asia contributed Rs. 192.29 crore, and the remaining Rs. 56.01 crore came from other geographies including the US. The European revenue base, driven largely by the Poland-headquartered Lumel group of subsidiaries, has become the dominant revenue contributor and introduces meaningful currency translation sensitivity into the consolidated P&L.

Business Overview

Rishabh Instruments Limited, incorporated in 1982, manufactures test and measuring instruments and industrial control products. The group’s subsidiary portfolio spans Cyprus, the US, China, Poland, and the UK, with Lumel S.A. in Poland and Sifam Tinsley in the US and UK among the larger international entities.

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