Finance - Investment · Founded 2010 · www.rattanindia.com · BSE 534597 · NSE RTNINDIA · ISIN INE834M01019
No Notes Added Yet
Business
RattanIndia Enterprises Ltd. (RTNINDIA) is an Indian investment company primarily focused on investing in new-age, high-growth businesses and disruptive technologies. Its core business model involves identifying, incubating, and scaling ventures in emerging sectors. It acts as a holding company, deploying capital into its portfolio companies with a long-term value creation perspective. The company aims to make money through the appreciation in value of its strategic investments, potential dividends from profitable subsidiaries, and eventually through strategic exits or initial public offerings (IPOs) of its investee companies.
Revenue Mix
RattanIndia Enterprises' "segments" are its key strategic investment platforms. The company has significant investments across:
Electric Vehicles (EVs): Through Revolt Motors, which designs and manufactures AI-enabled electric motorcycles.
Drones: Through NeoSky India, which focuses on drone technology, manufacturing, and services for various applications.
E-commerce: Through Cocoblu Retail, which operates as a seller on major e-commerce platforms like Amazon India.
Fintech & Others: Potentially exploring or investing in other sunrise sectors.
Specific revenue contribution numbers from these individual segments are not typically disclosed as direct operational revenue for the parent investment company, but rather represent the underlying value and growth drivers of its investments.
Industry
RattanIndia Enterprises operates within the broader Finance - Investment industry, specifically positioning itself as a diversified holding company with a focus on high-growth, technology-driven sectors in India. The industry is highly competitive, including venture capital funds, private equity firms, and other corporate holding companies looking to capitalize on India's growth story. RattanIndia positions itself as an early-stage investor and strategic partner, aiming to leverage the Promoter Group's experience and capital access to build significant businesses in relatively nascent but promising markets (like EVs and drones) within India.
MOAT
RattanIndia Enterprises does not possess traditional "moats" like proprietary technology or strong consumer brands directly at the parent company level. Its competitive advantages are more indirect:
First-mover/Early-mover Advantage: Strategic entry into emerging sectors like electric two-wheelers and drones could provide a head start in market development.
Capital Access & Deployment: The ability of the promoter group to raise and deploy significant capital into these ventures.
Strategic Vision: The promoter group's perceived ability to identify and back potentially disruptive businesses in sunrise sectors.
Synergies: Potential for cross-pollination and synergistic benefits between its diverse portfolio companies (e.g., leveraging e-commerce for EV sales).
However, these are subject to strong execution and intense competition.
Growth Drivers
Growth of Underlying Sectors: Rapid adoption of electric vehicles, increasing commercial and defense applications for drones, and continued expansion of India's e-commerce market provide significant tailwinds for its portfolio companies.
Success of Portfolio Companies: The successful scaling, market penetration, and profitability of Revolt Motors, NeoSky India, and Cocoblu Retail will directly drive value for RTNINDIA.
New Investments: Ability to identify and invest in additional high-potential, disruptive businesses that align with its strategic focus.
Favorable Government Policies: Supportive government initiatives for Make in India, EV adoption (e.g., FAME II subsidy), and drone regulations are crucial catalysts.
Risks
Investment & Execution Risk: High failure rate associated with early-stage, growth-oriented businesses. The success of RTNINDIA is heavily dependent on the operational execution and market acceptance of its relatively new portfolio companies.
Competition: Intense competition from established players and other well-funded startups in the EV, drone, and e-commerce sectors.
Regulatory & Policy Changes: Changes in government policies, subsidies (e.g., EV subsidies), or regulations (e.g., drone policies) could significantly impact the viability and profitability of its investments.
Funding Risk: Early-stage businesses often require continuous capital infusion. The ability to secure future funding for its portfolio companies without significant dilution is a risk.
Valuation Uncertainty: The valuation of its underlying unlisted investments can be subjective and may not always reflect in its market capitalization.
Management & Ownership
RattanIndia Enterprises Ltd. is part of the RattanIndia Group, promoted by Mr. Rajiv Rattan. The management team focuses on strategic investments and nurturing new-age businesses. Mr. Rajiv Rattan plays a key role in setting the strategic direction for the company's diversified investments. The promoter group holds a significant stake in the company, aligning their interests with long-term value creation.
Outlook
RattanIndia Enterprises presents a compelling, albeit high-risk, investment proposition. The company is strategically positioned in India's high-growth "sunrise" sectors (EVs, drones, e-commerce) which are expected to benefit from favorable demographic trends, increasing disposable incomes, and supportive government policies. If its key portfolio companies, such as Revolt Motors and NeoSky India, successfully scale their operations, achieve significant market share, and move towards profitability, the company could see substantial value unlocking. However, the outlook is balanced by significant execution risks inherent in early-stage ventures, intense competition, potential regulatory shifts, and the high capital expenditure required for these businesses. The success hinges on the management's ability to navigate these challenges and transform its strategic investments into established, profitable enterprises.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1298 | 2494 | 1801 | 1921 | 1505 | 2313 | 2124 | 2006 | 1697 | 1870 |
| Other Income | 2 | 4 | 0 | 0 | 5 | 4 | 4 | 1 | 1 | 1 |
| Total Income | 1301 | 2498 | 1801 | 1922 | 1510 | 2317 | 2127 | 2007 | 1698 | 1871 |
| Total Expenditure | 1349 | 1463 | 2038 | 2086 | 1882 | 1704 | 2560 | 2162 | 1799 | 1830 |
| Operating Profit | -49 | 1035 | -237 | -164 | -372 | 612 | -433 | -154 | -101 | 41 |
| Interest | 29 | 26 | 30 | 23 | 15 | 17 | 19 | 18 | 19 | 19 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 3 | 4 | 4 | 3 | 3 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -81 | 1005 | -270 | -192 | -391 | 592 | -456 | -176 | -124 | 19 |
| Provision for Tax | 0 | 154 | -29 | -21 | -33 | 90 | -59 | -14 | -13 | 13 |
| Profit After Tax | -82 | 851 | -242 | -170 | -359 | 502 | -397 | -162 | -112 | 6 |
| Adjustments | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 1 | 1 | 10 |
| Profit After Adjustments | -81 | 852 | -241 | -170 | -356 | 503 | -397 | -161 | -110 | 15 |
| Adjusted Earnings Per Share | -0.6 | 6.2 | -1.7 | -1.2 | -2.6 | 3.6 | -2.9 | -1.2 | -0.8 | 0.1 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 14 | 4124 | 6185 | 6866 | 7531 | 7697 |
| Other Income | 7 | 0 | 0 | 0 | 2 | 2 | 579 | 14 | 7 | 10 | 6 | 7 |
| Total Income | 7 | 0 | 0 | 0 | 2 | 2 | 593 | 4138 | 6192 | 6876 | 7537 | 7703 |
| Total Expenditure | 6 | 5 | 2 | 1 | 1 | 2 | 22 | 4340 | 5558 | 6614 | 7613 | 8351 |
| Operating Profit | 1 | -5 | -2 | -1 | 1 | 0 | 570 | -202 | 633 | 262 | -76 | -647 |
| Interest | 0 | 0 | 0 | 0 | 1 | 0 | 2 | 49 | 114 | 94 | 74 | 75 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 10 | 17 | 16 | 14 | 14 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -50 | 0 | 0 | 0 |
| Profit Before Tax | -161 | -278 | -663 | -1308 | -153 | 0 | 554 | -273 | 453 | 152 | -163 | -737 |
| Provision for Tax | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 13 | 28 | 71 | 4 | -73 |
| Profit After Tax | -161 | -278 | -663 | -1308 | -153 | 0 | 554 | -286 | 424 | 81 | -166 | -665 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 4 | 1 | 12 |
| Profit After Adjustments | -161 | -278 | -663 | -1308 | -153 | 0 | 554 | -285 | 426 | 84 | -165 | -653 |
| Adjusted Earnings Per Share | -1.2 | -2 | -4.8 | -9.5 | -1.1 | 0 | 4 | -2.1 | 3.1 | 0.6 | -1.2 | -4.8 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 10% | 22% | 0% | 0% |
| Operating Profit CAGR | -129% | 0% | 0% | NAN% |
| PAT CAGR | -305% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -52% | -23% | -10% | 22% |
| ROE Average | -20% | 19% | 29% | -13% |
| ROCE Average | -5% | 14% | 29% | -14% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 2498 | 2220 | 1548 | 238 | 85 | 85 | 699 | 409 | 839 | 922 | 768 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 6 | 2 | 1 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1 | 0 | 0 | -0 | -0 | -0 | 35 | 44 | 26 | 64 | 34 |
| Total Current Liabilities | 1 | 0 | 0 | 0 | 0 | 1 | 175 | 1729 | 1817 | 1641 | 1954 |
| Total Liabilities | 2499 | 2221 | 1549 | 238 | 85 | 85 | 908 | 2190 | 2689 | 2630 | 2757 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 40 | 273 | 251 | 262 | 256 |
| Other Non-Current Assets | 2497 | 2221 | 1548 | 222 | 69 | 1 | 659 | 369 | 925 | 1090 | 889 |
| Total Current Assets | 2 | 0 | 0 | 15 | 16 | 84 | 209 | 1548 | 1513 | 1278 | 1612 |
| Total Assets | 2499 | 2221 | 1549 | 238 | 85 | 85 | 908 | 2190 | 2689 | 2630 | 2757 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 60 | 2 | 0 | 0 | 0 | 0 | 0 | 2 | 32 | 66 | 30 |
| Cash Flow from Operating Activities | -96 | -2 | 0 | 14 | -17 | 67 | -14 | -678 | -37 | 306 | -56 |
| Cash Flow from Investing Activities | 7 | 0 | -0 | -15 | 18 | -67 | -102 | -25 | -26 | 30 | -7 |
| Cash Flow from Financing Activities | 32 | 0 | 0 | 0 | -1 | -0 | 117 | 734 | 97 | -373 | 105 |
| Net Cash Inflow / Outflow | -58 | -2 | -0 | -0 | 0 | -0 | 2 | 30 | 34 | -36 | 43 |
| Closing Cash & Cash Equivalent | 2 | 0 | 0 | 0 | 0 | 0 | 2 | 32 | 66 | 30 | 73 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -1.17 | -2.01 | -4.8 | -9.46 | -1.11 | 0 | 4.01 | -2.06 | 3.08 | 0.61 | -1.2 |
| CEPS(Rs) | -1.17 | -2.01 | -4.8 | -9.46 | -1.11 | 0 | 4.02 | -2 | 3.2 | 0.7 | -1.1 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 17.94 | 15.93 | 11.2 | 1.72 | 0.61 | 0.61 | 5.06 | 2.96 | 6.05 | 6.67 | 5.49 |
| Core EBITDA Margin(%) | 0 | 0 | 0 | 0 | 0 | -1674.3 | -60.76 | -5.24 | 10.13 | 3.68 | -1.1 |
| EBIT Margin(%) | 0 | 0 | 0 | 0 | 0 | 44.2 | 3972.62 | -5.44 | 9.15 | 3.59 | -1.18 |
| Pre Tax Margin(%) | 0 | 0 | 0 | 0 | 0 | 7 | 3959.6 | -6.63 | 7.32 | 2.21 | -2.16 |
| PAT Margin (%) | 0 | 0 | 0 | 0 | 0 | 7 | 3958.15 | -6.94 | 6.86 | 1.18 | -2.21 |
| Cash Profit Margin (%) | 0 | 0 | 0 | 0 | 0 | 8.7 | 3967.21 | -6.7 | 7.14 | 1.41 | -2.02 |
| ROA(%) | -6.45 | -11.77 | -35.19 | -146.47 | -95 | 0.01 | 111.5 | -18.47 | 17.4 | 3.04 | -6.18 |
| ROE(%) | -6.5 | -11.87 | -35.36 | -146.46 | -94.84 | 0.01 | 141.37 | -51.65 | 68.15 | 9.18 | -19.8 |
| ROCE(%) | -6.46 | -11.78 | -35.19 | -146.5 | -94.11 | 0.05 | 123.06 | -20.67 | 33.84 | 12.96 | -4.87 |
| Receivable days | 0 | 0 | 0 | 0 | 0 | 0 | 47.73 | 2.22 | 2.74 | 2.53 | 2.84 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 1001.02 | 49.13 | 58.73 | 46.32 | 44.27 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 1927.85 | 37.77 | 47.61 | 40.22 | 44.06 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 11.51 | 0 | 22.43 | 67.32 | 0 |
| Price/Book(x) | 0.2 | 0.25 | 0.5 | 1.58 | 3.42 | 8.4 | 9.12 | 11.89 | 11.43 | 6.17 | 4.67 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0 | 0 | 0 | 0 | 7118.26 | 463.83 | 1.38 | 1.7 | 0.94 | 0.59 |
| EV/Core EBITDA(x) | 912.51 | -104.7 | -407.03 | -473.97 | 269.45 | 0 | 11.38 | -28.13 | 16.6 | 24.54 | -58.26 |
| Net Sales Growth(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 49.99 | 11.01 | 9.67 |
| EBIT Growth(%) | 0 | -72.19 | -138.71 | -97.25 | 88.41 | 100.03 | 0 | -140.32 | 352.54 | -56.5 | -135.96 |
| PAT Growth(%) | 0 | -72.25 | -138.75 | -97.26 | 88.3 | 100 | 0 | -151.66 | 248.34 | -80.98 | -306.09 |
| EPS Growth(%) | 0 | -72.26 | -138.75 | -97.26 | 88.3 | 100.01 | 0 | -151.39 | 249.73 | -80.19 | -295.92 |
| Debt/Equity(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.17 | 2.3 | 1.38 | 0.96 | 1.4 |
| Current Ratio(x) | 2.85 | 0.95 | 1.83 | 77.09 | 137.62 | 155.51 | 1.2 | 0.9 | 0.83 | 0.78 | 0.83 |
| Quick Ratio(x) | 2.85 | 0.95 | 1.83 | 77.09 | 137.62 | 155.51 | 0.98 | 0.28 | 0.33 | 0.28 | 0.31 |
| Interest Cover(x) | 0 | 0 | 0 | 0 | -108.54 | 1.19 | 305.1 | -4.55 | 4.99 | 2.61 | -1.19 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.02 | 0.19 | 0.12 | 0.16 | 0.3 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.86 | 74.86 | 74.86 | 74.86 | 74.86 | 74.86 | 74.86 | 74.86 | 74.87 | 74.87 |
| FII | 8.33 | 8.42 | 4.83 | 6 | 6.1 | 5.95 | 6.16 | 6.18 | 5.55 | 5.39 |
| DII | 0.06 | 0.07 | 0.1 | 0.1 | 0.12 | 0.13 | 0.09 | 0.09 | 0.08 | 0.07 |
| Public | 16.76 | 16.66 | 20.21 | 19.04 | 18.92 | 19.07 | 18.89 | 18.87 | 19.5 | 19.67 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 103.47 | 103.47 | 103.47 | 103.47 | 103.47 | 103.47 | 103.47 | 103.47 | 103.48 | 103.48 |
| FII | 11.51 | 11.63 | 6.68 | 8.29 | 8.43 | 8.22 | 8.51 | 8.54 | 7.68 | 7.46 |
| DII | 0.08 | 0.1 | 0.14 | 0.14 | 0.17 | 0.18 | 0.13 | 0.13 | 0.11 | 0.1 |
| Public | 23.16 | 23.02 | 27.94 | 26.32 | 26.16 | 26.36 | 26.11 | 26.08 | 26.95 | 27.18 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +10% | +22% | — | — |
| Operating Profit CAGR | -129% | — | — | 0% |
| PAT CAGR | -305% | — | — | — |
| Share Price CAGR | -52% | -23% | -10% | +22% |
| ROE Average | -20% | +19% | +29% | -13% |
| ROCE Average | -5% | +14% | +29% | -14% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.86 | 74.86 | 74.86 | 74.86 | 74.86 | 74.86 | 74.86 | 74.86 | 74.87 | 74.87 |
| FII | 8.33 | 8.42 | 4.83 | 6 | 6.1 | 5.95 | 6.16 | 6.18 | 5.55 | 5.39 |
| DII | 0.06 | 0.07 | 0.1 | 0.1 | 0.12 | 0.13 | 0.09 | 0.09 | 0.08 | 0.07 |
| Public | 16.76 | 16.66 | 20.21 | 19.04 | 18.92 | 19.07 | 18.89 | 18.87 | 19.5 | 19.67 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 103.47 | 103.47 | 103.47 | 103.47 | 103.47 | 103.47 | 103.47 | 103.47 | 103.48 | 103.48 |
| FII | 11.51 | 11.63 | 6.68 | 8.29 | 8.43 | 8.22 | 8.51 | 8.54 | 7.68 | 7.46 |
| DII | 0.08 | 0.1 | 0.14 | 0.14 | 0.17 | 0.18 | 0.13 | 0.13 | 0.11 | 0.1 |
| Public | 23.16 | 23.02 | 27.94 | 26.32 | 26.16 | 26.36 | 26.11 | 26.08 | 26.95 | 27.18 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 | 138.23 |
* The pros and cons are machine generated.
Our experts help you choose the right stocks based on performance, risk, and growth potential.
Looking to buy unlisted shares or need guidance on the investment process? Our expert Private Equity Advisors are here to assist you with accurate information, real-time pricing, and seamless execution.
Want to sell unlisted shares, liquidate your ESOPs, or understand the step-by-step process of liquidation? Connect with our Buying Team for smooth coordination, quick evaluations, and end-to-end support.
Planning to build or grow your portfolio? For Mutual Fund investments, PMS solutions, tailored portfolio creation, and overall wealth management, our dedicated Wealth Team is ready to guide you.
Your relationship manager will connect with you shortly.