Rishabh Instruments Limited, with nearly three decades of experience, is an organization that has built its core competence in manufacturing, design, and development of Test and Measuring Instruments and Industrial Control Products. The company was originally incorporated as Rishabh Instruments Private Limited on October 6, 1982, and was converted to a public limited company on September 8, 2022.
Rishabh Instruments is a global energy efficiency solution company focused on electrical automation, metering and measurement, and precision engineered products, with diverse applications across industries including power, automotive, and industrial sectors. The company is engaged in manufacturing, design, and development of test and measuring instruments and industrial control products, offering products including protector relays, multifunction meters, paperless recorders, digital multimeter, energy management system, current transformers, battery charger, temperature controller, shunts, insulation testers, genset controllers, CAM switches, and digital panel meters.
Rishabh Instruments operates through five segments: electrical automation devices, metering, control, and protection devices, portable test and measuring instruments, solar string inverters, and aluminium HPDC products. The majority of its revenue is generated from metering, control, and protection devices.
The company has 3 manufacturing units and more than 270 dealers across the globe, reaching 70+ countries and 150+ dealers across India covering every state. It engages in the design, development, manufacture, and sale of electrical measurement and process optimization equipment in Asia, the United States, Poland, other European countries, and internationally.
The product portfolio includes analog panel meters, shunts, multifunction meters, isolators, paperless recorders, digital multimeters, energy management systems, power factor controllers, synchronizing units, protector relays, CAM switches, battery chargers, power quality analysers and meters, temperature controllers, clamp meters, genset controllers, and accessories. The company also provides energy management software, temperature and humidity recorders, data loggers, multi-load monitoring meters, synchronizing units, submarine cable fault locators, aluminium high-pressure die-casting products, and solar inverters, serving data centers, pharmaceuticals, fast-moving consumer goods, railways, utilities, petrochemical, and automotive industries.
As of May 14, 2025, Rishabh Instruments Ltd (RISHABH) has a market capitalization of ₹1,051.98 crores.
The 52-week high for Rishabh Instruments Ltd (RISHABH) is ₹513, and the 52-week low is ₹201.50.
* Q3 FY2024-25: Net profit rose 11.30% to ₹8.47 crore (vs. ₹7.61 crore in Q3 FY2023-24). Sales rose 13.73% to ₹181.19 crore (vs. ₹159.31 crore in Q3 FY2023-24).
* Q2 FY2024-25: Net profit declined 80.97% to ₹4.13 crore (vs. ₹21.70 crore in Q2 FY2023-24). Sales rose 1.27% to ₹182.36 crore (vs. ₹180.07 crore in Q2 FY2023-24).
* In Q2 FY2024-25, the company reported a consolidated revenue of INR 1,824 million, reflecting a 7.7% quarter-on-quarter increase, driven by growth in the electronics and instrumentation segment, particularly Lumel S.A. in Poland.
* Market Capitalization: ₹1,051.98 crore (as of May 14, 2025)
* P/E Ratio: 26.51
* Return on Equity (last 3 years): 7.48% (low)
* Trailing Twelve Months (TTM) Profit After Tax: ₹19 crore
* Promoter Holding: 70.2%
* Promoter Pledging: 0% (no pledging)
Rishabh Instruments provides EMI-EMC Testing, Type testing, Environmental testing, Life Cycle testing, Electro-technical Calibration, Mechanical Testing, and other services, all under one roof at its lab. In 2011, Rishabh Instruments acquired Lumel Alucast, a non-ferrous pressure casting company in Europe, which helped the company establish a strong foothold in manufacturing and supply of low-voltage current transformers.
Despite facing challenges such as a decline in export sales and pressures in the automotive sector in Q2 FY25, management remains optimistic about future growth opportunities, particularly in non-automotive markets and the U.S.
Chairman and Managing Director: Narendra Johrimal Goliya
The company has a strong corporate governance structure with no promoter pledging.
The company's strategic focus on R&D and product development aims to enhance operational efficiency and introduce innovative solutions, while ongoing cost management initiatives are expected to stabilize margins. With a commitment to diversifying its client base and expanding into emerging markets, Rishabh Instruments is poised to navigate current economic challenges effectively.
Rishabh Instruments is a vertically integrated player involved in designing, developing, manufacturing, and supplying electrical automation devices; metering, control, and protection devices; portable test and measuring instruments; and solar string inverters. The company continues to focus on innovation and global expansion while maintaining its position as a key player in the electrical instruments and automation sector, with a strong emphasis on energy efficiency solutions and precision engineering products.
