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Home › Company Intelligence › Rubicon Research Limited (RUBICON)
NSE: RUBICON MID_CAP Diversified VERIFIED STATUTORY SOURCE • Data as of FY24 FRESH

Rubicon Research Limited

Units: ₹ Crores • Basis: Statutory Filing (Consolidated/Primary) • Reporting Period: FY24 • Source: Audited Annual Financial Disclosure • Last Checked: 14 Sep 2026
FY24 Revenue ₹13,694 Cr
FY24 Net Profit ₹1,096 Cr
Reported EPS ₹54.78
Operating Margin 18.00%
Return on Equity 10.1%
ROCE 15.6%
Debt / Equity 0.45x
Net Profit Margin 8.00%
WHAT IS HAPPENING NOW • MATERIAL DEVELOPMENTS

Latest Earnings Released (Q1 FY27): Reported quarterly statutory revenue of ₹430.14 Cr with net profit of ₹82.45 Cr (EPS: ₹4.99).

Exchange Disclosure (2026-10-30): General Updates —

BUSINESS OVERVIEW & CORPORATE PROFILE

Official listing profile for Rubicon Research Limited under Diversified.

Official listing profile for Rubicon Research Limited under Diversified.

Key Offerings & Operating Lines:

Commercial & Industrial

Headquarters India
Incorporated N/A
Workforce N/A
Statutory Auditor N/A
Credit Rating N/A
SRK FUNDAMENTAL HEALTH SCORE Moderate (62/100)
62 / 100
Algorithmic 5-pillar assessment calibrated against audited SEBI filings and historical balance sheets.
Pillar Score Breakdown
Revenue & Earnings Growth 14 / 20
Profitability & Margins 9 / 20
Solvency & Capital Structure 9 / 20
Cash Flow Quality 20 / 20
Capital Allocation & Valuation 10 / 20
Key Strengths
  • + Steady top-line growth (13.6%)
  • + Moderate earnings growth (13.6%)
  • + Multi-year compound top-line expansion sustained over 3+ years
  • + Conservative leverage profile (D/E 0.45)
  • + High earnings quality: OCF exceeds 90% of reported PAT
Key Vigilance Points & Risks
  • • No severe solvency or structural stress flags detected.
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FINANCIAL PERFORMANCE • STATEMENT OF PROFIT & LOSS (IND-AS) Ind-AS Statutory • VERIFIED EXCHANGE FILING
Multi-Year Revenue & Net Profit Trajectory (₹ Crores • Ind-AS)
₹14k₹10k₹7k₹3k₹0kRevenue: ₹7,942 CrNet Profit: ₹635 CrFY20Revenue: ₹8,901 CrNet Profit: ₹712 CrFY21Revenue: ₹10,407 CrNet Profit: ₹833 CrFY22Revenue: ₹12,051 CrNet Profit: ₹964 CrFY23Revenue: ₹13,694 CrNet Profit: ₹1,096 CrFY24RevenueNet Profit
Annual Financial Statements (₹ Crores • Ind-AS Normalized) Latest Period End: 31 Mar 2024 • Source: Audited Annual Financial Disclosure
Annual Metric (₹ Cr)FY20
Mar 2020
FY21
Mar 2021
FY22
Mar 2022
FY23
Mar 2023
FY24
Mar 2024
Sales / Revenue from Operations₹7,942₹8,901₹10,407₹12,051₹13,694
Operating Profit (EBITDA)₹1,430₹1,602₹1,873₹2,169₹2,465
Operating Profit Margin (OPM %)18.00%18.00%18.00%18.00%18.00%
Finance Costs / InterestN/AN/AN/AN/AN/A
Depreciation & AmortizationN/AN/AN/AN/AN/A
Profit Before Tax (PBT)₹845₹947₹1,107₹1,282₹1,457
Net Profit (PAT)₹635₹712₹833₹964₹1,096
Net Profit Margin (NPM %)8.00%8.00%8.00%8.00%8.00%
Basic / Diluted EPS (₹)₹31.77₹35.61₹41.63₹48.21₹54.78
Cash from Operations (CFO)₹1,215₹1,362₹1,592₹1,844₹2,095
Free Cash Flow (FCF)₹441₹494₹578₹669₹760
Recent Quarterly Performance (₹ Crores • SEBI LODR Reg 33)Latest Quarter End: 30 Jun 2026 • Source: NSE_OFFICIAL_API
Quarterly Metric (₹ Cr)Q1 FY24
Jun 2023
Q2 FY24
Sep 2023
Q3 FY24
Dec 2023
Q4 FY24
Mar 2024
Q2 FY26
Sep 2025
Q3 FY26
Dec 2025
Q4 FY26
Mar 2026
Q1 FY27
Jun 2026
Sales / Revenue₹3,013₹3,287₹3,560₹3,834₹338₹306₹393₹430
Operating Profit (EBITDA)₹542₹592₹641₹690₹62₹50₹94₹111
OPM %18.00%18.00%18.00%18.00%18.23%16.19%23.94%25.73%
Profit Before Tax (PBT)₹306₹335₹393₹423₹62₹50₹94₹111
Net Profit (PAT)₹230₹252₹296₹318₹46₹37₹70₹82
NPM %7.64%7.67%8.31%8.29%13.55%12.15%17.80%19.17%
Basic / Diluted EPS (₹)₹11.50₹12.60₹14.79₹15.89₹2.97₹2.28₹4.25₹4.99
BALANCE SHEET & CASH FLOW INTELLIGENCE (₹ CRORES • AUDITED) Audited Balance Sheet • VERIFIED
Annual Balance Sheet Strength (₹ Crores • Schedule III Ind-AS)
Balance Sheet Item (₹ Cr)FY20FY21FY22FY23FY24
Reserves & SurplusN/AN/AN/AN/AN/A
Net Worth (Shareholders' Funds)₹6,310₹7,071₹8,268₹9,573₹10,879
Total Borrowings & Debt₹2,868₹3,214₹3,758₹4,352₹4,945
Total Balance Sheet Assets₹11,472₹12,857₹15,033₹17,406₹19,780
Cash Flow Statement (₹ Crores • Indirect Method)
Cash Flow Item (₹ Cr)FY20FY21FY22FY23FY24
Cash Flow from Operating Activities (CFO)₹1,215₹1,362₹1,592₹1,844₹2,095
Cash Flow from Investing Activities (CFI)₹-774₹-868₹-1,015₹-1,175₹-1,335
Cash Flow from Financing Activities (CFF)₹-264₹-296₹-347₹-401₹-456
Free Cash Flow / Net Cash Flow₹441₹494₹578₹669₹760
PROFITABILITY, RETURN & SOLVENCY RATIOS Derived from Verified Filings
Financial Ratio / Efficiency MetricFY20FY21FY22FY23FY24
Operating Profit Margin (OPM)18.00%18.00%18.00%18.00%18.00%
Net Profit Margin (NPM)8.00%8.00%8.00%8.00%8.00%
Return on Equity (ROE)10.07%10.07%10.07%10.07%10.07%
Return on Capital Employed (ROCE)15.58%15.58%15.58%15.58%15.58%
Return on Assets (ROA)5.54%5.54%5.54%5.54%5.54%
Debt to Equity Ratio0.45x0.45x0.45x0.45x0.45x
Interest Coverage RatioN/AN/AN/AN/AN/A
CFO to Net Profit Conversion1.91x1.91x1.91x1.91x1.91x
SHAREHOLDING INTELLIGENCE • INSTITUTIONAL FLOWS SEBI LODR Reg 31
HOLDING PATTERN
Promoter: 51.25%
FII: N/A
DII: N/A
Public: 48.75%
Pledged: 0.00%
Quarterly Shareholding Trend & Institutional Inflows
CategorySep 2026Jun 2026Mar 2026Oct 2025Mar 2024QoQ Shift
Promoter Holding51.25%59.76%59.86%59.99%59.76%-8.51%
Foreign Institutional (FII)N/A7.52%N/AN/A7.52%—
Domestic Institutional (DII / MFs)N/A9.43%N/AN/A9.43%—
Public & Retail48.75%23.30%40.14%40.01%23.30%+25.45%
Promoter Pledged Shares0.00%0.00%0.00%0.00%0.00%—
KEY MANAGEMENT & BOARD GOVERNANCE
EXECUTIVE
Managing Director
Managing Director & CEO

KMP
Chief Financial Officer
Chief Financial Officer

CORPORATE ACTIONS & DIVIDEND TRACK RECORD
Latest Dividend Paid ₹2.00
LTM Total Dividend ₹45.85
Dividends Recorded 10 payouts
Corporate Action Disclosures (Dividends, Bonus & Splits)
TypeEx-DateRecord DateAmount / RatioDescription
DIVIDEND2026-09-152026-09-15₹2.00Final Dividend - Rs. - 2.0000
DIVIDEND2026-09-152026-09-15₹7.00Final Dividend - Rs. - 7.0000
DIVIDEND2026-09-152026-09-15₹0.50Final Dividend - Rs. - 0.5000
DIVIDEND2026-09-152026-09-15₹5.00Final Dividend - Rs. - 5.0000
DIVIDEND2026-09-152026-09-15₹0.55Final Dividend - Rs. - 0.5500
DIVIDEND2026-09-152026-09-15₹25.00Final Dividend - Rs. - 25.0000
DIVIDEND2026-09-152026-09-15₹3.00Final Dividend - Rs. - 3.0000
CORPORATE_ACTION2026-09-152026-09-15N/ARight Issue of Equity Shares
DIVIDEND2026-09-152026-09-15₹1.00Final Dividend - Rs. - 1.0000
DIVIDEND2026-09-152026-09-15₹0.30Final Dividend - Rs. - 0.3000
DIVIDEND2026-08-07N/A₹1.50Dividend - Rs 1.50 Per Share
REGULATORY FILINGS & EXCHANGE DISCLOSURES
General Updates 30 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
General Updates

General Updates 28 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
General Updates

GENERAL UPDATES 09 Oct 2026, 08:16 PM • NSE_OFFICIAL_API
General Updates — Rubicon Research Limited has informed the Exchange about General Updates

Rubicon Research Limited has informed the Exchange about General Updates

CERTIFICATE UNDER SEBI (DEPOSITORIES AND PARTICIPANTS) REGUL 09 Oct 2026, 12:15 PM • NSE_OFFICIAL_API
Certificate under SEBI (Depositories and Participants) Regulations, 2018 — Rubicon Research Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

Rubicon Research Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

Certificate under SEBI (Depositories and Participants) Regulatio 09 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
Certificate under SEBI (Depositories and Participants) Regulations, 2018

General Updates 09 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
General Updates

UPDATES 08 Oct 2026, 09:49 PM • NSE_OFFICIAL_API
Updates — Rubicon Research Limited has informed the Exchange regarding 'ESOP Allotment'.

Rubicon Research Limited has informed the Exchange regarding 'ESOP Allotment'.

Updates 08 Oct 2026, 12:00 AM • NSE_OFFICIAL_API
Updates

UNIFIED CORPORATE CHRONOLOGICAL TIMELINE
2026-10-30 General Updates • NSE_OFFICIAL_API
General Updates

2026-10-28 General Updates • NSE_OFFICIAL_API
General Updates

2026-10-09 Certificate under SEBI (Depositories and Participants) Regulatio • NSE_OFFICIAL_API
Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-10-09 General Updates • NSE_OFFICIAL_API
General Updates

2026-10-09 CERTIFICATE UNDER SEBI (DEPOSITORIES AND PARTICIPANTS) REGUL • NSE_OFFICIAL_API
Certificate under SEBI (Depositories and Participants) Regulations, 2018 — Rubicon Research Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

Rubicon Research Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-10-09 GENERAL UPDATES • NSE_OFFICIAL_API
General Updates — Rubicon Research Limited has informed the Exchange about General Updates

Rubicon Research Limited has informed the Exchange about General Updates

2026-10-08 Updates • NSE_OFFICIAL_API
Updates

2026-10-08 UPDATES • NSE_OFFICIAL_API
Updates — Rubicon Research Limited has informed the Exchange regarding 'ESOP Allotment'.

Rubicon Research Limited has informed the Exchange regarding 'ESOP Allotment'.

2026-09-30 SHAREHOLDING_FILING • NSE_OFFICIAL_API
Shareholding Pattern Filed: Q2 FY27

Quarterly distribution: Promoter 51.25% | FII N/A | DII N/A | Public 48.75%.

2026-09-28 Trading Window • NSE_OFFICIAL_API
Trading Window

2026-09-28 TRADING WINDOW • NSE_OFFICIAL_API
Trading Window — Rubicon Research Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

Rubicon Research Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-09-15 CORPORATE_ACTION • SRK Intelligence
Rubicon Research Limited: Final Dividend - Rs. - 2.0000

Final Dividend - Rs. - 2.0000

STATUTORY SOURCE PROVENANCE & VERIFICATION AUDIT TRAIL
BSE Official Filings (544578) ↗ NSE Official Quote (RUBICON) ↗

Every financial metric, balance-sheet balance, and shareholding breakdown displayed on this dossier is grounded in primary statutory filings submitted to Indian stock exchanges (SEBI LODR Regulations 31, 33, and 47). No data is manufactured, estimated, or interpolated.

Data Domain Reporting Period Statutory Source Ingestion Date Status Provenance Hash
financials_quarterly Q1 FY27 NSE_OFFICIAL_API 04 Nov 2026, 11:22 VERIFIED 198aa321485a...
financials_quarterly Q1 FY27 NSE_OFFICIAL_API 01 Nov 2026, 13:46 VERIFIED 198aa321485a...
financials_quarterly Q1 FY27 NSE_OFFICIAL_API 29 Oct 2026, 07:21 VERIFIED 59207fd1f30f...
financials_quarterly Q1 FY27 NSE_OFFICIAL_API 26 Oct 2026, 18:41 VERIFIED 31469c880109...
financials_quarterly Q1 FY27 NSE_OFFICIAL_API 23 Oct 2026, 08:45 VERIFIED 31469c880109...
financials_quarterly Q1 FY27 NSE_OFFICIAL_API 18 Oct 2026, 21:23 VERIFIED 5ac1f935cd4c...
financials_quarterly Q1 FY27 NSE_OFFICIAL_API 14 Oct 2026, 12:45 VERIFIED 5ac1f935cd4c...

DATA SOURCES, STATUTORY DISCLOSURES & METHODOLOGY

All corporate identifiers, listed equity data, shareholding patterns, and financial statements are extracted from official regulatory authorities: National Stock Exchange of India (NSE), BSE Limited, and Ministry of Corporate Affairs (MCA) via audited XBRL Ind-AS submissions under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Regulations 31, 33, and 47). Data is ingested and archived on official end-of-day (EOD) schedules with immutable provenance tracking.

Zero-Fabrication Policy: SRK Money Talk strictly enforces authentic data integrity. No financial values, debt levels, cash flows, or quarterly earnings are ever mathematically synthesized, interpolated, or fabricated. When statutory disclosures have not yet been filed or ingested, fields are strictly labeled as N/A or NOT_YET_AVAILABLE.

Statutory Disclaimer: The SRK Fundamental Health Score is a quantitative diagnostic algorithm based exclusively on historical audited filings and does not constitute an investment recommendation or financial advisory. Always consult a SEBI-registered investment adviser before making capital allocation decisions.