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Dossier · RELIC TECHNOLOGIES LTD. · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Listed on BSE under the Financial Services classification, Relic Technologies Limited is currently a holding-company structure with two subsidiaries — Relic Pharma Limited and Truhealthy Wellness Private Limited — operating in the pharma and wellness space. On a standalone basis, revenue from operations is nil: filings state the planned shift to pharma and wellness products has not yet started because the company is waiting for regulatory permissions. The operational activity sits in the consolidated books, where revenue from operations reached Rs. 220.07 lakhs in the first nine months of FY26, up about 46% year-on-year. The two subsidiaries together posted a pre-tax loss of Rs. 414.32 lakhs in 9M FY26, and the standalone entity swung to a full-year FY26 net loss of Rs. 694.49 lakhs against a profit of Rs. 54.20 lakhs in FY25, partly due to exceptional items of Rs. 232.12 lakhs. To fund the build-out, the company raised Rs. 1,692.48 lakhs via a preferential issue (equity plus convertible warrants) in FY26, of which Rs. 558 lakhs had been cumulatively utilised by March 2026 for working capital, investments, acquisitions and general corporate purposes. A related-party proposal seeks shareholder approval for transactions with Truhealthy Wellness of up to Rs. 10 crore in purchases/sales and Rs. 25 crore in loans. Employee cost is the dominant expense at 160.7% of standalone revenue, reflecting staff being on board while revenue-generating activity is still pending. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharma (via subsidiary Relic Pharma Limited), Wellness (via subsidiary Truhealthy Wellness Private Limited), Standalone operations. Loss-making, transition-stage holding company pivoting from a financial-services classification into pharma and wellness.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
2
1
2
2
3
EBITDA (ex other income)
1
0
(1)
(1)
(7)
margin %
31.9
24.1
(51.9)
(59.3)
(270.7)
Owners' profit
0
0
(1)
(1)
(5)
EPS, as reported (₹)
1.39
0.53
(2.42)
(4.13)
(13.19)
ROE % · ROCE %
7.5 · 9.8
3.8 · 5.6
(17.6) · (15.9)
(17.0) · (14.5)
(55.5) · (51.4)
Debt / equity (x)
0.00
0.00
0.07
0.17
0.12
Cash from operations
0
0
0
(0)
(17)
Capex
(0)
(0)
(1)
(0)
(0)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · RELIC TECHNOLOGIES LTD. · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Revenue
0
1
0
0
1
1
0
0
Profit before tax
(0)
0
(1)
(1)
(4)
(1)
(2)
(1)
Net profit
(0)
0
(1)
(1)
(4)
0
(0)
(3)
EPS (₹)
(0.29)
0.40
(2.77)
(1.46)
(7.25)
0.30
0.92
5.58
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: 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
33,999
38.5
10.39
—
13.7
16.1
—
30.6
ONEMI TECHNOLOGY SOL LTD
5,509
19.5
4.10
9.4
21.0
18.8
—
32.0
GYFTR LIMITED
1,234
—
2.54
37.9
4.5
5.3
32.8
4.3
CENTRUM CAPITAL LIMITED
969
—
0.74
9.7
(21.4)
(2.5)
49.7
29.7
PRIME SECURITIES LIMITED
968
172.9
3.78
—
5.1
—
25.7
19.0
WEALTH FRST PORT. MG. LTD
881
26.7
5.18
16.9
22.5
30.3
—
97.5
REGENCY FINCORP LIMITED
571
52.3
3.56
—
8.4
—
—
84.3
STELLANT SECURITIES (INDIA) LT
529
—
1687.57
—
18.2
18.2
—
56.7
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/B
3.2
1.0
86 of 105
18%
ROCE
(52.1)
1.8
80 of 83
4%
ROE
(55.5)
1.3
108 of 111
3%
Debt / Equity
0.1
0.0
52 of 77
33%
EBITDA margin
(164.4)
25.6
87 of 91
4%
Revenue growth
0.5
(4.1)
40 of 85
54%
Profit growth
(457.7)
(0.2)
103 of 109
6%
Market cap
40
26
45 of 113
61%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · RELIC TECHNOLOGIES LTD. · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
28 Oct 2026 · Relic Technologies board to approve September quarter results
results
low
—
—
17 Oct 2026 · Quarterly compliance certificate for share dematerialization filed for Q2 FY27
13 Aug 2026 · Proceedings of 35th Annual General Meeting held on 13th August 2026
board shareholder meetings
low
—
—
13 Aug 2026 · No deviation in use of preferential issue funds for Q1FY27
compliance
minimal
—
—
13 Aug 2026 · Relic Tech Q1 FY27: Standalone profit up, consolidated loss narrows
results
high
—
—
13 Aug 2026 · Relic Technologies Q1 FY27 Results: Standalone Profit Up, Group Posts Loss
results
high
—
—
6 Aug 2026 · Board meeting on Aug 13, 2026 to consider Q1 FY27 results
results
low
—
—
28 Jul 2026 · Reg 74(5) certificate filing for quarter ended June 30, 2026
compliance
minimal
—
—
23 Jul 2026 · Newspaper Publication of 35th AGM Notice
compliance
minimal
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
