NSE: RELIABLE · BSE: 544207
RELIABLE DATA SERVICE LTD
Operates in two reportable segments — Non-BFSI and BFSI — providing services to clients in each, with the Non-BFSI segment contributing 77.6% of segment revenue and the BFSI segment 22.4% for the period ended 31 March 2026. The cost structure is dominated by people, with employee costs making up 86.6% of revenue per F_COST_SHAPE, consistent with a staffing or outsourced services business rather than a capital-intensive one. The company has announced a new business line of supplying government agencies and contractors, with an agreement to supply white goods to Bihar Medical Services and Infrastructure Corporation Limited, a Government of Bihar entity. Despite being classified under 'Other Financial Services' by the exchange, the segment labels and the new government supply business suggest it functions as a services and distribution company rather than a financial intermediary. Standalone revenue grew from Rs 7,982.90 lakhs in FY25 to Rs 12,453.77 lakhs in FY26 (approximately 56% YoY), while consolidated revenue reached Rs 17,779.42 lakhs in FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Non-BFSI segment (78%), BFSI segment (22%). People-intensive services business expanding into government supply
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 131 | 185 |
| EBITDA (ex other income) | 17 | 17 |
| margin % | 12.9 | 9.4 |
| Owners' profit | 0 | 0 |
| EPS, as reported (₹) | 10.03 | 6.67 |
| ROE % · ROCE % | 14.6 · 19.2 | 8.0 · 13.1 |
| Debt / equity (x) | 0.66 | 0.29 |
| Cash from operations | (24) | 27 |
| Capex | (6) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 24 | 33 | 53 | 39 | 69 | 23 | 55 | 58 |
| Profit before tax | 2 | 5 | 5 | 2 | 3 | 4 | 2 | 3 |
| Net profit | 1 | 4 | 4 | 2 | 2 | 3 | 1 | 2 |
| EPS (₹) | 1.32 | 3.99 | 3.75 | 1.63 | 2.17 | 3.05 | 1.24 | 2.32 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| BFSI SEGMENT | 101 | 54.0 |
| NON BFSI SEGMENT | 86 | 46.0 |
| Total, before eliminations | 187 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 32,429 | 36.7 | 9.91 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 6,241 | 22.1 | 4.65 | 10.5 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,292 | — | 2.66 | 39.7 | 4.5 | 5.3 | 32.8 | 4.3 |
| PRIME SECURITIES LIMITED | 1,005 | 179.4 | 3.92 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 966 | 29.3 | 5.68 | 18.5 | 22.5 | 30.3 | — | 97.5 |
| CENTRUM CAPITAL LIMITED | 955 | — | 0.72 | 9.6 | (21.4) | (2.5) | 49.7 | 29.7 |
| THE INVEST TRUST OF IND L | 470 | 14.1 | 0.64 | 6.5 | 4.7 | 3.9 | (2.4) | 23.4 |
| REGENCY FINCORP LIMITED | 458 | 41.9 | 2.85 | — | 8.4 | — | — | 84.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.9 | 20.6 | 31 of 75 | 60% |
| P/B | 1.7 | 1.1 | 68 of 104 | 35% |
| ROCE | 9.6 | 1.8 | 16 of 83 | 82% |
| ROE | 8.1 | 1.3 | 23 of 111 | 80% |
| Debt / Equity | 0.3 | 0.0 | 56 of 77 | 28% |
| EBITDA margin | 7.8 | 25.6 | 58 of 91 | 37% |
| Revenue growth | 45.9 | (4.1) | 22 of 85 | 75% |
| Profit growth | 42.1 | (0.2) | 42 of 109 | 62% |
| Market cap | 144 | 27 | 21 of 112 | 82% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · RTA confirms no physical share certificates received for demat in Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · AGM results: all 4 resolutions passed, final dividend of Rs 0.05 per share approved | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Reliable Data Services 25th AGM: 4 resolutions passed, final dividend declared | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Trading window closure for Q2 results, starts October 1, 2026 | compliance | minimal | — | — |
| 21 Sept 2026 · Board approves proposal to raise up to Rs 200 Crores | fund raising | high | — | — |
| 11 Sept 2026 · Board meet on 21 Sep to consider raising funds up to 200 crores | fund raising | high | — | — |
| 7 Sept 2026 · Submission of newspaper publication for AGM notice and annual report | compliance | minimal | — | — |
| 5 Sept 2026 · Final dividend of 5 paise per share, record date Sept 18 2026 | corporate actions | high | — | — |
| 5 Sept 2026 · Reliable Data Services 25th AGM on Sept 29, 2026 with Rs 0.05 dividend | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.