RPSG Ventures financials: balance sheet, profit and loss, cash flow

NSE: RPSGVENTBSE: 542333Commercial Services & SuppliesSmall Cap

RPSG VENTURES LIMITED · Formerly CESC Ventures · Face value ₹10 · Listed Jan 2019

₹827.55₹4.20 (0.51%)BSE ₹828.75

Share price at the NSE close on 28 Oct 2026. Previous close ₹831.75.

28 Oct: open ₹831.00, high ₹840.00, low ₹822.25

52-week range of traded prices to 28 Oct 2026

₹551.90Low, 23 Mar 2026₹1,179.00High, 7 Apr 2026

Market cap: ₹2,738 Cr1,028th largest listed
P/E: Lossover the last 12 months
P/B: 1.09
Dividend yield: Nonein the last 12 months
ROE: −5.0%
ROE without one-offs: 1.6%
ROCE: 10.8%
Debt to equity: 1.60
Volume, NSE: 18,80568.0% delivered

RPSG Ventures' financial statements for the 8 years to Mar 2026, consolidated: the company and its subsidiaries together, with the twelve months to Jun 2026 after them.

8 years at a glance

₹ crore, years to March.RPSG Ventures annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹11,323 Cr, year to Mar 2026; lowest ₹4,370 Cr, year to Mar 2019A loss in 1 of the 8 years shown

Operating and net margin, per cent

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 17.0% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue11,323
Materials and goods−370
Employee costs−5,884
Other expenses−3,464
Operating profit1,605
Depreciation−487
Other income+42
One-off items−101
Finance costs−872
Profit before tax188
Tax−275
Joint ventures+89
Net profit1.7

What the company owns

Plant, investments and other assets₹15,706 Cr
Receivables₹2,279 Cr
Cash and bank₹917 Cr
Inventory₹98 Cr
Current investments₹50 Cr

What pays for it: net worth and liabilities

Borrowings₹7,031 Cr
Other liabilities₹6,819 Cr
Net worth₹4,381 Cr
Owed to suppliers₹817 Cr

RPSG Ventures business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.RPSG Ventures segment results by quarter

Revenue by segment

₹11,327 CrTotal

Process Outsourcing₹9,887 Cr87.3% of total
Sports₹711 Cr6.3% of total
FMCG₹561 Cr4.9% of total
Property₹137 Cr1.2% of total
Others₹32 Cr0.3% of total

Profit by segment

Process Outsourcing₹1,185 Cr84.8% of total
Sports₹136 Cr9.8% of total
Property₹76 Cr5.5% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Process Outsourcing
Revenue, ₹ crore
3,889
4,163
5,192
6,083
6,184
6,498
8,206
9,887
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
500
460
541
793
768
774
922
1,185
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Sports
Revenue, ₹ crore
54
119
395
819
706
711
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−16
6
105
423
328
136
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
FMCG
Revenue, ₹ crore
365
311
284
365
453
501
559
561
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−227
−240
−190
−235
−309
−271
−266
−227
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Property
Revenue, ₹ crore
121
108
73
104
139
138
138
137
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
42
66
67
154
76
80
61
76
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
2
32
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−4
−11
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	4,375	4,582	5,603	6,671	7,171	7,955	9,611	11,327
Company revenue, as in its results	4,370	4,578	5,599	6,670	7,166	7,951	9,608	11,323
Revenue	3,889	4,163	5,192	6,083	6,184	6,498	8,206	9,887
Revenue growth	–	7.0%	24.7%	17.2%	1.7%	5.1%	26.3%	20.5%
Profit	500	460	541	793	768	774	922	1,185
Profit growth	–	−8.0%	17.8%	46.4%	−3.1%	0.7%	19.1%	28.6%
Margin	12.9%	11.0%	10.4%	13.0%	12.4%	11.9%	11.2%	12.0%
Return on capital	16.2%	13.1%	16.9%	20.7%	19.7%	17.8%	16.9%	18.8%
Assets	3,444	4,432	4,584	5,558	5,428	5,952	7,899	9,406
Liabilities	351	920	1,388	1,727	1,536	1,600	2,456	3,107
Capital employed	3,093	3,512	3,196	3,831	3,893	4,352	5,443	6,298
Revenue	–	–	54	119	395	819	706	711
Revenue growth	–	–	–	–	233.0%	107.2%	−13.7%	0.6%
Profit	–	–	−16	6	105	423	328	136
Profit growth	–	–	–	–	1,703.1%	303.4%	−22.5%	−58.4%
Margin	–	–	−29.8%	4.9%	26.5%	51.6%	46.4%	19.2%
Return on capital	–	–	−147.0%	0.8%	8.1%	20.5%	13.0%	4.2%
Assets	–	–	31	5,292	5,566	5,926	6,028	6,937
Liabilities	–	–	20	4,560	4,271	3,867	3,517	3,657
Capital employed	–	–	11	732	1,295	2,059	2,511	3,280
Revenue	365	311	284	365	453	501	559	561
Revenue growth	–	−14.8%	−8.8%	28.8%	23.9%	10.7%	11.6%	0.2%
Profit	−227	−240	−190	−235	−309	−271	−266	−227
Margin	−62.1%	−77.2%	−66.9%	−64.2%	−68.3%	−54.2%	−47.6%	−40.4%
Return on capital	−40.3%	−35.8%	−31.6%	−33.9%	−43.5%	−43.6%	−35.9%	−37.8%
Assets	662	817	731	842	884	811	929	812
Liabilities	99	147	131	149	173	188	187	212
Capital employed	563	670	600	693	712	623	742	600
Revenue	121	108	73	104	139	138	138	137
Revenue growth	–	−10.5%	−33.1%	43.2%	33.9%	−0.8%	−0.3%	−0.6%
Profit	42	66	67	154	76	80	61	76
Profit growth	–	56.8%	0.6%	131.4%	−50.7%	5.5%	−23.5%	24.6%
Margin	34.8%	61.0%	91.7%	148.3%	54.5%	58.0%	44.5%	55.8%
Return on capital	10.2%	16.6%	15.7%	28.7%	27.9%	28.7%	22.1%	16.5%
Assets	509	582	613	734	555	567	548	744
Liabilities	96	184	189	198	284	288	272	283
Capital employed	413	398	423	536	272	279	276	461
Revenue	–	–	–	–	–	–	2	32
Profit	–	–	–	–	–	–	−4	−11
Margin	–	–	–	–	–	–	−275.6%	−33.8%
Return on capital	–	–	–	–	–	–	−14.9%	−32.7%
Assets	–	–	–	–	–	–	33	42
Liabilities	–	–	–	–	–	–	3	9
Capital employed	–	–	–	–	–	–	30	33
	–	–	–	–	–	0	–	–
Profit	–	–	–	–	–	0	–	–
Assets	–	–	–	–	–	719	–	–
Liabilities	–	–	–	–	–	3,572	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.RPSG Ventures quarterly results

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 21 May	Jun 2026Twelve monthsFiled 13 Aug
Revenue from operations	4,370	4,578	5,599	6,670	7,166	7,951	9,608	11,323	11,928
	3,982	4,103	4,897	5,785	6,363	6,700	8,235	9,718	10,187
Materials and goods bought	264	209	191	265	317	313	371	370	379
Employee costs	2,650	2,892	3,588	4,064	4,017	4,100	5,241	5,884	6,099
Other expenses	1,068	1,002	1,118	1,456	2,030	2,287	2,624	3,464	3,709
Operating profit before depreciation	388	475	702	885	803	1,251	1,373	1,605	1,741
Operating margin	8.9%	10.4%	12.5%	13.3%	11.2%	15.7%	14.3%	14.2%	14.6%
Materials, % of revenue	6.0%	4.6%	3.4%	4.0%	4.4%	3.9%	3.9%	3.3%	3.2%
Employee costs, % of revenue	60.6%	63.2%	64.1%	60.9%	56.1%	51.6%	54.5%	52.0%	51.1%
Other expenses, % of revenue	24.5%	21.9%	20.0%	21.8%	28.3%	28.8%	27.3%	30.6%	31.1%
Depreciation and amortisation	95	224	249	291	305	302	370	487	505
Operating profit after depreciation	292	251	453	594	498	949	1,003	1,118	1,236
Other income	23	35	64	15	142	56	37	42	43
Finance costs	61	101	107	209	552	627	737	872	917
Profit before one-off items and tax	254	185	410	400	88	378	303	288	362
One-off items	0	0	−115	0	0	0	9	−101	−172
Profit before tax	254	185	294	400	88	378	311	188	190
	20	38	236	170	179	180	210	275	273
Current tax	47	68	102	130	117	153	193	277	271
Deferred tax	−28	−30	134	40	63	26	16	−3	1
Share of profit of joint ventures and associates	–	–	–	109	32	−1	63	89	86
	235	147	58	339	−59	197	164	2	4
Belonging to the company's shareholders	64	−3	−96	131	−153	−42	−49	−138	−130
Belonging to outside owners of subsidiaries	170	151	154	207	94	239	213	140	134
Other comprehensive income	96	119	−87	96	129	62	40	−47	122
Total comprehensive income	331	266	−29	434	70	259	204	−46	125
Net margin	5.4%	3.2%	1.0%	5.1%	−0.8%	2.5%	1.7%	0.0%	0.0%
Net margin without joint ventures and associates	–	–	–	3.4%	−1.3%	2.5%	1.1%	−0.8%	–

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 21 May
	3,597	3,667	3,460	4,076	4,006	4,460	4,588	4,381
	2,280	2,323	2,159	2,526	2,405	2,667	2,663	2,506
Share capital	27	27	27	27	30	33	33	33
Reserves	2,253	2,296	2,132	2,500	2,376	2,634	2,630	2,473
Belonging to outside owners of subsidiaries	1,318	1,344	1,301	1,549	1,601	1,793	1,925	1,876
	819	1,175	828	1,887	2,639	3,268	4,879	7,031
Repayable after a year	270	330	349	827	875	873	2,239	3,129
Repayable within a year	549	845	479	1,060	1,764	2,395	2,641	3,903
	1,066	1,535	1,696	2,951	3,806	4,354	5,155	7,280
Trade payables	185	203	412	325	421	552	619	817
Other financial liabilities	193	364	479	1,321	1,353	1,140	1,540	2,012
Other liabilities	75	73	240	187	182	199	269	413
Provisions	42	43	68	56	85	48	67	99
Tax owed	22	6	18	1	0	21	19	37
	446	1,029	1,172	5,774	5,347	5,161	6,479	7,388
Other financial liabilities	88	28	648	4,713	4,186	3,960	3,888	3,787
Other liabilities	0	0	–	0	1	2	2	2
Provisions	17	22	26	31	33	42	49	139
Deferred tax	70	93	149	204	251	283	300	332
Trade payables	–	556	–	0	0	0	–	0
Total assets	5,109	6,231	6,329	12,801	13,159	13,975	16,222	19,049
	3,892	4,791	4,875	10,848	10,928	11,235	12,557	14,785
Plant in use, after depreciation	566	651	738	718	662	623	728	746
Plant being built	55	7	5	6	7	23	59	65
Intangible assets	323	334	928	5,496	5,476	9,392	5,549	7,481
Goodwill	2,195	2,394	2,357	2,883	3,107	0	3,842	4,437
Intangible assets being developed	–	–	–	3	0	0	–	0
Property held to earn rent	56	55	54	53	52	51	50	50
Investments	28	94	47	86	54	70	66	90
Stakes in joint ventures and associates	–	–	110	244	325	338	426	613
Loans given	32	38	44	0	0	6	0	1
Other financial assets	42	41	17	62	58	96	118	408
Deferred tax	232	296	271	282	295	292	274	391
Other assets	364	880	304	1,014	892	344	1,444	504
	1,217	1,440	1,454	1,954	2,231	2,740	3,665	4,264
Inventories	48	50	51	62	64	69	79	98
Trade receivables	437	599	608	989	1,109	1,340	1,808	2,279
Cash and cash equivalents	120	358	161	225	484	675	938	898
Other bank balances	18	4	6	7	4	14	13	18
Current investments	262	0	83	165	60	30	62	50
Loans given	2	2	1	2	5	27	29	31
Other financial assets	329	428	293	504	10	43	51	58
Other assets	–	0	251	0	495	542	686	831
Net debt	418	813	579	1,490	2,091	2,549	3,867	6,065

Borrowings are counted again inside the liabilities due within a year and after a year.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 21 May
	901	660	726	1,038	1,098	1,233
	968	779	828	1,121	1,246	1,466
	298	−145	59	−146	−273	−336
Receivables	−76	−197	−168	−191	−513	−709
Inventories	−2	−27	−4	−10	−11	−19
Payables	376	80	231	54	251	392
Tax paid	−67	−119	−103	−83	−149	−233
Capital spending	185	826	83	112	329	252
Free cash flow	715	−166	642	926	768	981
	−460	−1,454	−717	−1,136	−1,590	−2,117
Plant and property sold	4	12	2	0	24	64
Companies bought	−158	−531	0	−25	−517	0
Interest received	3	2	9	4	8	18
	−652	857	252	291	754	837
Borrowings raised	162	1,116	815	941	1,971	2,235
Borrowings repaid	−455	−217	−117	−326	−409	−329
Interest paid	−106	−110	−181	−288	−466	−396
Lease payments	−119	−123	−152	−169	−172	−449
Dividends paid	92	108	108	110	126	174
Shares bought back	65	0	14	0	36	0
Shares issued	0	–	37	288	15	0
Net change in cash	−211	64	260	192	261	−47

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2019 and Mar 2020. Shares issued is left blank for the year to Mar 2022: the money stated as raised on shares and other equity instruments is more than three times what the shares issued in the period were worth at its end, so not all of it bought shares and the figure is not given.

Consolidated, ₹ per share, years to March.

₹ per share	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 21 May
Earnings per share	₹24.20	–	−₹36.09	₹49.55	−₹53.72	−₹14.26	−₹14.82	−₹41.70
Diluted earnings per share	₹24.20	–	−₹36.09	₹49.11	−₹53.72	−₹14.26	−₹14.82	−₹41.70
Book value per share	₹859.89	₹876.07	₹814.41	₹948.38	₹815.12	₹806.08	₹804.81	₹757.26
Shareholder yield	–	–	17.5%	–	7.8%	−8.7%	5.3%	6.6%
Market cap at the year end (₹ crore)	1,649	313	894	1,552	1,077	2,060	2,800	2,648

Earnings per share is left blank for the year to Mar 2020: the earnings per share stated has the opposite sign to the profit stated beside it, so it is not shown. Shareholder yield is left blank for the year to Mar 2022: the money stated as raised on shares and other equity instruments is more than three times what the shares issued in the period were worth at its end, so not all of it bought shares and the figure is not given.

Ratios

Consolidated, years to March.RPSG Ventures PE ratio and valuation

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 21 May
Revenue growth	–	4.8%	22.3%	19.1%	7.4%	11.0%	20.8%	17.8%
Operating profit growth	–	22.6%	47.7%	26.1%	−9.3%	55.8%	9.7%	16.9%
Net profit growth	–	−37.3%	−60.3%	479.9%	–	–	−16.5%	−99.0%
	2.8%	−0.1%	−4.3%	5.6%	−6.2%	−1.7%	−1.8%	−5.3%
	–	−3.0 pts	−4.1 pts	9.9 pts	−11.8 pts	4.5 pts	−0.2 pts	−3.5 pts
From the net margin	–	−3.0 pts	−3.3 pts	9.2 pts	−11.7 pts	4.6 pts	0.1 pts	−2.6 pts
From asset turnover	–	0.0 pts	−0.4 pts	−1.1 pts	1.3 pts	−0.1 pts	−0.1 pts	0.0 pts
From borrowing	–	0.0 pts	−0.5 pts	1.8 pts	−1.4 pts	0.0 pts	−0.1 pts	−0.9 pts
Return on capital employed	6.6%	5.2%	10.6%	10.0%	7.5%	12.3%	10.6%	9.8%
Cash conversion	–	–	1,542.5%	195.0%	–	526.7%	667.5%	74,301.2%
Interest cover	4.8	2.5	4.2	2.8	0.9	1.5	1.4	1.3
Debt to equity	0.23	0.32	0.24	0.46	0.66	0.73	1.06	1.60
Receivable days	37	48	40	54	56	62	69	73
Inventory days	67	87	97	85	74	80	78	97
Payable days	256	355	787	447	486	643	610	806
Cash conversion cycle, days	−153	−220	−650	−308	−355	−501	−463	−636
Working capital days	25	31	−1	−18	−18	3	5	−3
Asset turnover	0.86	0.81	0.89	0.70	0.55	0.59	0.64	0.64
Assets per rupee of net worth	2.24	2.46	2.80	4.08	5.26	5.35	5.67	6.82
Sales per rupee of plant	7.72	7.03	7.58	9.29	10.83	12.76	13.20	15.19
Capital spending to depreciation	–	–	0.75	2.84	0.27	0.37	0.89	0.52
Plant being built, % of plant in use	9.6%	1.1%	0.7%	0.9%	1.1%	3.6%	8.1%	8.7%

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −0.8%
Cash from operations against operating profit: 76.8%

Measure	5 years	3 years
Revenue growth, yearly rate	15.1%	16.5%
Return on equity, average	−1.9%	−3.0%
Return on capital employed, average	10.0%	10.9%
Operating margin, average	13.7%	14.7%
Net margin, average	1.7%	1.4%
Asset turnover, average	0.62	0.62
Cash conversion cycle, days, average	−453	−534
Interest cover, average	1.6	1.4
Debt to equity, average	0.90	1.13

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	4,754	3,369	1,233
Cash from investing	−7,015	−4,844	−2,117
Cash from financing	2,991	1,882	837
Capital spending	1,603	693	252
Dividends paid	625	410	174
Shares bought back	50	36	0
Shares issued for cash	–	303	0
Borrowings raised	7,077	5,147	2,235
Borrowings repaid	1,397	1,063	329

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	6	5	2	8	7	6
Altman Z-scorePublished threshold 1.1	4.55	2.91	2.54	0.94	0.59	0.83	0.77	0.07
Beneish M-scorePublished threshold −1.78	–	–	−3.04	−2.03	−2.78	−2.63	−2.54	−2.67
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	−6.09	11.83	−0.52	2.18	4.35	5.02
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	6.77	5.09	9.46	9.28
Receivables growth less revenue growthOur threshold 0 percentage points	–	32.16	−20.80	43.63	4.71	9.86	14.10	8.21
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	24.44	10.04	−16.78	−15.93	8.60	−3.32	23.85
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	2.17	2.08	−0.61	0.02	1.00	1.59	1.34
Assets under construction, years of additionsOur threshold 2 years of additions	–	0.02	0.02	0.02	0.03	0.09	0.12	0.13
Effective tax ratePublished threshold 17.16 per cent	7.68	20.46	80.17	42.49	204.04	47.57	67.37	146.42
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	12.85	87.29	25.49	19.57	22.41

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
10 Sep 2026	CARE Ratings Limited	Fund-based - LT-Term Loan	CARE A-Review, Upgrade	Stable	517.50
10 Sep 2026	CARE Ratings Limited	Non-fund-based - LT-Bank Guarantee	CARE A-Review, Upgrade	Stable	300
6 Apr 2026	India Ratings and Research Private Limited	Bank loan facilities	IND A-; IND A2+New, New	Stable	1,155

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.