Reliable Data Services Limited (RELIABLE)
🎯 Key Takeaways
- Reliable Data Services Limited is transitioning from a small-cap financial services player into a more diversified entity with emerging government-linked revenue streams, as evidenced by strategic expansions and board-level governance updates. The company has shown consistent profitability growth, with net profit rising 32% YoY in Q3FY25 to ₹87.
- Revenue grew 40.9% QoQ to ₹33 in Q3FY25.
- ⚠️ Revenue concentration risk is emerging as the company increasingly depends on a single government contract with Bihar Medical Services, which may be s
📖 The Story
Reliable Data Services Limited is transitioning from a small-cap financial services player into a more diversified entity with emerging government-linked revenue streams, as evidenced by strategic expansions and board-level governance updates. The company has shown consistent profitability growth, with net profit rising 32% YoY in Q3FY25 to ₹87.22 crores, driven by operational improvements and compliance-driven financial reporting refinements. However, its scale remains modest relative to its market cap, and growth is increasingly tied to public sector contracts rather than organic market expansion.
📰 What's Happening
In Q3FY25, the company reported a 32% YoY increase in net profit to ₹87.22 crores, up from ₹65.9 crores in Q3FY24, supported by strong operational performance and timely submission of revised XBRL filings after a technical correction. The company has been actively expanding into government supply chains, signing an agreement with Bihar Medical Services and Infrastructure Corporation Limited to supply white goods, which management expects to contribute meaningfully to future growth. Additionally, it appointed Mrs. Bhoomika Aditya Gupta as an Independent Director in February 2026 following shareholder approval, resolving prior board non-compliance issues and paying a total fine of ₹47,200 for procedural delays under SEBI regulations.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|
| Revenue | 20 | 24 | 33 |
| Operating Profit | 3 | 3 | 8 |
| OPM % | 13.8% | 12.6% | 20.8% |
| Net Profit | — | 1 | 4 |
| EPS | ₹1.41 | ₹1.32 | ₹3.99 |
The company’s financial trajectory shows a clear upward trend in revenue and profitability, with quarterly revenue growing from ₹20 crores in Q1FY25 to ₹33 crores in Q3FY25, and net profit turning positive after a near-break-even quarter in Q1FY25. Operating margins have stabilized around 13-21%, indicating improving efficiency, while EPS rose from ₹1.32 to ₹3.99 over the same period. This growth aligns with management’s focus on compliance, governance upgrades, and strategic entry into public sector supply contracts, suggesting that recent financial performance reflects both operational execution and institutional confidence in its revised business model.
🔮 Management Outlook & What's Next
Management has not provided explicit forward-looking guidance on revenue or profitability targets in the latest filings, but has consistently highlighted the strategic importance of its new government supply agreements and board-level governance improvements as catalysts for future growth. The company emphasized procedural compliance and regulatory adherence in board meetings, signaling a focus on sustainable, compliant expansion rather than aggressive scaling. No official projections or timelines for the Bihar government contract’s contribution have been disclosed, but the expansion is framed as a long-term strategic initiative.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Bajaj Finance Limited | 5.67 L Cr | 30.9 | 22.4% | 18.6% | 1.37 |
| Bajaj Finserv Limited | 2.77 L Cr | 14.4 | — | 13.4% | — |
| Shriram Finance Limited | 2.21 L Cr | 23.3 | — | — | — |
| Jio Financial Services Limited | 1.54 L Cr | 92.1 | — | — | — |
| Power Finance Corporation Limited | 1.47 L Cr | 5.0 | — | — | — |
| Muthoot Finance Limited | 1.33 L Cr | 26.6 | — | — | — |
| Cholamandalam Investment and Finance Company Limited | 1.32 L Cr | 31.9 | — | — | — |
| Tata Capital Limited | 1.31 L Cr | — | — | — | — |
| Indian Railway Finance Corporation Limited | 1.29 L Cr | 18.4 | — | — | — |
| Bajaj Holdings & Investment Limited | 1.15 L Cr | 15.3 | — | — | — |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Revenue concentration risk is emerging as the company increasingly depends on a single government contract with Bihar Medical Services, which may be subject to political, budgetary, or procurement delays. 2. Governance-related risks persist despite board reforms, as past non-compliance with SEBI listing rules indicates potential lapses in internal controls. 3. The company’s modest scale and reliance on niche financial services expose it to competitive and regulatory headwinds in a consolidated sector. 4. Limited transparency in forward-looking disclosures may hinder investor confidence, especially given the recent XBRL filing corrections and lack of formal guidance.
📋 Recent Filings
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🟡 Board Meeting 6 July 2026Reliable Data Services Limited confirmed on April 10, 2026, that it and persons acting in concert have not encumbered its shareholding during the fina...
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Announcement 6 July 2026Reliable Data Services Limited announced it received a SEBI-mandated certificate confirming that its securities are listed on NSE and BSE, and that a ...
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Financial Results 26 June 2026Reliable Data Services Limited announced that its trading window will close on 1 July 2026 for designated persons and their immediate relatives until ...
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Financial Results 25 June 2026Reliable Data Services Limited clarified that its standalone financial results submitted in XBRL contained discrepancies due to a technical error duri...
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🟡 Board Meeting 3 June 2026Reliable Data Services Limited resolved a board composition non-compliance under SEBI Listing Regulations by appointing Mrs. Bhoomika Aditya Gupta as ...
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Announcement 20 May 2026Reliable Data Services Limited disclosed that GST department officials visited its office on May 19, 2026, for a GST compliance enquiry and issued a s...
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Announcement 6 May 2026Reliable Data Services Limited disclosed that NSE and BSE issued warning letters on April 29 and April 27, 2026, respectively, for delayed disclosure ...
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🟡 Board Meeting 29 April 2026Reliable Data Services Limited announced on April 29, 2026, that it has added a new line of business supplying white goods to government agencies, spe...
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🔴 Financial Results 10 April 2026Reliable Data Services Limited reported a net profit of **₹87.22 crores**, up **32%** year-on-year, driven by strong operational performance. The comp...
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🟡 Board Meeting 31 March 2026Reliable Data Services Limited announced that shareholders approved the appointment of Mrs. Bhoomika Aditya Gupta as an Independent Director via posta...
🧠 Analyst's Read
Reliable Data Services is undergoing a quiet transformation, with improving financials and strategic moves into government supply chains, but its growth remains small-scale and execution-dependent. Investors should monitor the ramp-up of the Bihar contract and whether governance improvements translate into more predictable disclosures, as current visibility into long-term value creation remains limited.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-20.
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