What we do Rishabh Instruments Limited designs, manufactures, and supplies electrical automation, metering, and precision-engineered products worldwide, serving power, automotive, and industrial sectors. |
Founded in 1,982 |
Market share Market leader in India for analog panel meters, current transformers; top player in Poland in meters and controllers via subsidiary Lumel. |
Problem solved Provides energy efficiency solutions and precise electrical measurement tools to enhance performance and safety in energy, industrial, and automotive applications. |
Top clients or who we serve Serves industrial (FMCG, pharma, cement), power (generation, transmission, renewables), OEMs, and emerging sectors like data centers, semiconductors (B2B focus). |
Key management Narendra J. Goliya (Executive Chairman, IIT Bombay & Stanford alumnus) and Dineshkumar Musalekar (Whole-Time Director). |
Our journey and innovations Since 1982, expanded via tech tie-ups, acquisitions like Lumel (Poland), innovation in solar inverters, energy meters, and SCADA software acquisition in 2024. |
Where we operate Operations and sales in India, Europe (notably Poland), China, USA, UK, and Czech Republic with global export footprint over 100 countries. |
Top products or what we offer Offerings include analog/digital panel meters, current transformers, portable measuring instruments, solar string inverters, and aluminum diecast components. |
Top brands Lumel (Poland) - #1 in meters and controllers; Rishabh - India's #1 analog panel meters; Sifam (UK/USA) modifications. |
Raw materials needed Electrical components, aluminum for die-casting, plastics for molding, semiconductors for instruments. |
Raw materials supplier Suppliers not disclosed; emphasis on vertical integration and in-house manufacturing for 99% products. |
Recurring vs cyclical contribution Revenue mix is mostly recurring from long-term industrial supply contracts, with some cyclical exposure in automotive die casting. |
Our industry position Strong leadership in energy efficiency instruments in India and Europe; recognized for innovation and certification compliance. |
Financial highlights FY25 consolidated revenue approx. ₹7,349 million; PAT ₹212 million. Recent quarters show margin expansion and revenue growth. |
Geographical revenue split Europe (largest, ~47%), Asia (26%), Poland (20%), USA and Others balance the revenue mix. |
Order book - |
Whats driving growth Growth driven by product diversification, export expansion, solar inverter demand, operational efficiencies, and recent acquisitions. |
Our future plans Expanding Nashik manufacturing, launching high-voltage testers, scaling solar inverter range, and leveraging Czech SCADA acquisition. |
Our green promise Installed 1.5 MW solar rooftop, energy optimization devices, and initiatives lowering carbon footprint with RoHS compliant products. |
Our people and values Skilled global workforce of 740+, with emphasis on rural and tribal women employment and a strong compliance and governance culture. |
Key challenges ahead Managing post-acquisition integration, competitive pricing pressures, regulatory compliance, and supply chain optimization. |
Interesting facts First Indian company with PTPiREE certification for solar inverters; 40+ years legacy, diverse global footprint, strong R&D. |
Risks and strategy Mitigate risks via product innovation, geographic diversification, rigorous compliance, and operational efficiencies. |
