Rites Ltd. share price target

BUY with a target price of Rs 271/share, implying an upside of ~10% from the CMP.

RITES Ltd delivered a resilient performance in Q2FY26, reflecting strong execution across its consultancy and export segments, robust profitability, and a solid order pipeline that reinforces long-term growth visibility. The company reported standalone revenue of Rs5.1bn, up 0.7% YoY and 12% QoQ, while PAT stood at Rs1bn, marking a healthy 25% YoY growth and 20% sequential rise. Consolidated performance was equally encouraging, with revenue at Rs5.7bn, EBITDA at Rs1.3bn, up 27.6% YoY, and PAT at Rs1.1bn up 32.2% YoY, translating into superior EBITDA and PAT margins of 24.4% and 18.8%, respectively. The...

RITES reported a largely flat operating performance in Q12026 with consolidated revenue and profit metrics showing marginal YoY increases with consolidated operating revenue of Rs48bn and consolidated PAT of Rs0.9bn for the quarter. Standalone operating revenue was Rs45bn and PAT Rs0.6bn. The company continues to emphasize execution of a large, young order book Rs87bn as Q12026. With a strong order book, cash-rich balance sheet, steady dividends, and a delayed but visible revenue ramp, RITES remains a HOLD rating with a TP of 281. Stable fundamentals limit downside, but near-term upside is capped by...

We maintain our BUY recommendation for the stock.

We maintain our recommendation of BUY on the stock.

We roll over our estimates to FY27 and upgrade our recommendation from HOLD to BUY on the stock.

We maintain our HOLD recommendation on the stock.

We maintain our HOLD recommendation on the stock. We await for better entry point.

We maintain our HOLD recommendation on the stock as recent sharp appreciation in the stock price leaves us with no upside. We await for better entry point.

We maintain our HOLD recommendation on the stock and revise our estimates downward for FY24 and FY25 respectively.

we expect the company to post healthy Revenues/EBITDA/APAT growth of 12%/11%/11%CAGR respectively over FY23-25E. However,the recent appreciation in stock price leaves us with little upside and we maintain our HOLD rating on the stock with a TP of Rs 500/share, implying an upside of 2% from the CMP.

We change our recommendation on the stock from a BUY to HOLD as recent appreciation in the stock price leaves no upside potential. We await a better entry point to re-enter the stock.

We maintain our BUY recommendation on the stock with a TP of Rs 450/Share, (Rs 410/Share earlier) implying an upside of 13% from the CMP. We value the company at 16x FY25E EPS (15x earlier).

Company Outlook & Guidance: The management refrained from giving any revenue guidance but expects to maintain their core EBITDA margin and profitability at a healthy growth rate moving ahead. The company expect good export orders in FY24.

Recommendation: We maintain our BUY recommendation on the stock.