MoneyWorks4Me

Rays Of Belief Ltd (MOMSBELIEF)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544906 NSE: MOMSBELIEF Hospital & Healthcare Services | Small Cap | Rays Of Belief Share Price

₹224.90 4.50 (2.04%)

As on 11-Sep'26 16:01

Rays Of Belief Ltd (MOMSBELIEF)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544906 NSE: MOMSBELIEF Hospital & Healthcare Services | Small Cap | Rays Of Belief Share Price

₹224.90 4.50 (2.04%)

As on 11-Sep'26 16:01

Key Metrics
Valuation Multiples
Market Cap
₹461 Cr.
Current Price
₹224.9
52-Week Low / High
₹217 / 239
TTM EPS
₹2.4
TTM Sales
₹81.7 Cr.
Book Value per Share
₹79.1
P/E Ratio
92.90
Higher than its 5-year historical median
Industry PE
100.8
Price to Book (P/B)
2.79
Lower than its 5-year historical median
Price to Sales (P/S)
5.64
Lower than its 5-year historical median
EV/EBITDA
35.91
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
16.10%
Return on Capital Employed (ROCE)
24.53%
Return on Assets (ROA)
10.93%
Operating Profit Margin
15.1%
Net Profit Margin
6.07%
Gross Profit Margin
13.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
-
18.98%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
68.77%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹144 Cr.
Equity
₹20.9 Cr.
Face Value
₹10
All Time Low / High
₹216.85 / 239.00

Rays Of Belief stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Weak
Q.1 Is Rays Of Belief Ltd a good quality company?
Rays Of Belief Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Rays Of Belief Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Rays Of Belief Ltd vs industry peers?
Rays Of Belief Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 10.53%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Rays Of Belief Ltd?
Promoters hold % of the Rays Of Belief Ltd, with % of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Rays Of Belief Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Rays Of Belief Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'23Mar'24Mar'25TTM
ROCE % -189.5%6.1%8%-
Value Creation
Index
-14.5-0.6-0.4-

Growth Parameters

Sales 22.130.636.436
Sales YoY Gr.-38.3%19%-
Adj EPS -6.10.642.8
YoY Gr.-NA576.3%-
BVPS (₹) 2.3410.278.8
Adj Net
Profit
-8.50.95.96
Cash Flow from Ops. -6.92.1-1.8-
Debt/CF from Ops. 00-2.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANANA19%
Adj EPS NANANA576.3%
BVPSNANANA153.1%
Share Price - - - -

Key Financial Parameters

Mar'23Mar'24Mar'25TTM
Return on
Equity %
-194.116.856.66.3
Op. Profit
Mgn %
-32.35.18.5NAN
Net Profit
Mgn %
-38.22.816.216.1
Debt to
Equity
000.3-
Working Cap
Days
031660
Cash Conv.
Cycle
0-780

Valuation of Rays Of Belief - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'26
Sales82
Operating Expenses + 69
Manufacturing Costs13
Material Costs0
Employee Cost 39
Other Costs 17
Operating Profit 12
Operating Profit Margin (%) 15.1%
Other Income + 0
Exceptional Items 0
Interest 2
Depreciation 4
Profit Before Tax 7
Tax 2
Profit After Tax 5
PAT Margin (%) 6.1%
Adjusted EPS (₹)3.2
Dividend Payout Ratio (%)0%
PARTICULARSMar'26

Equity and Liabilities

Shareholders Fund + 31
Share Capital 16
Reserves 15
Debt +4
Long Term Debt3
Short Term Debt1
Minority Interest0
Trade Payables4
Others Liabilities 7
Total Liabilities 45

Fixed Assets

Net Fixed Assets +12
Gross Block25
Accumulated Depreciation13
CWIP 0
Investments 0
Inventories0
Trade Receivables18
Cash Equivalents 6
Others Assets 9
Total Assets 45
PARTICULARSMar'26
Cash Flow From Operating Activity + -2
PBT 7
Adjustment 5
Changes in Working Capital -14
Tax Paid -0
Cash Flow From Investing Activity + -6
Capex -1
Net Investments -3
Others -2
Cash Flow From Financing Activity + 6
Net Proceeds from Shares 13
Net Proceeds from Borrowing -1
Interest Paid -1
Dividend Paid 0
Others -6
Net Cash Flow -2
PARTICULARSMar'26
Ratios
ROE (%)16.1
ROCE (%)24.53
Asset Turnover Ratio1.8
PAT to CFO Conversion(x)-0.4
Working Capital Days
Receivable Days80.90
Inventory Days0
Payable Days0

Top 5 Mutual Funds Holding

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Announcements

Rays Of Belief Ltd FAQs

The current trading price of Rays Of Belief on 11-Sep-2026 16:01 is ₹224.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Rays Of Belief stood at ₹460.7 Cr

The latest P/E ratio of Rays Of Belief as of 10-Sep-2026 is 78.33.

The latest P/B ratio of Rays Of Belief as of 10-Sep-2026 is 2.80.

The 52-week high of Rays Of Belief is ₹239.0 and the 52-week low is ₹216.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Rays Of Belief is ₹36.42 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Rays Of Belief Ltd is a below average quality company.

The key valuation ratios of Rays Of Belief Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Rays Of Belief Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Rays Of Belief Ltd

Rays of Belief was originally incorporated as ‘Rays of Belief Private Limited’ under the provisions of the Companies Act, 2013, pursuant to a certificate of incorporation dated August 23, 2017, issued by the Central registration Centre.

Rays of Belief is a For-Profit Social Enterprise providing intervention plans for children with Neurodevelopmental Disorders (NDDs). Such plans are personalised based on each child’s unique needs and condition severity. NDDs include Autism Spectrum Disorder (ASD), Attention-Deficit/ Hyperactivity Disorder (ADHD), Down Syndrome (DS), Cerebral Palsy (CP), Intellectual Disability (ID), Learning Disabilities (LD), and Global Developmental Delays (GDD). The company was founded, primarily to address key barriers related to NDDs in the behavioural health domain, including lack of awareness, limited access, inadequate quality of care and affordability. Accordingly, its intervention plans are prepared to empower parents and families to become co-therapists in their child’s developmental journey. Its services primarily cater to children from 18 months up to 12 years of age, with specialized programs for older children up to the age of 15 years focusing on vocational and life skills to facilitate a smooth transition to adulthood. Its centres offer a comprehensive and multidisciplinary suite of services, spanning early intervention, parental guidance, occupational therapy, language therapy and family support programs. 

Business area of the company

Rays of Belief, along with its subsidiaries, is in the business of providing therapy plans and programs for children with neurodevelopmental challenges, including ASD, Attention- ADHD, DS, CP, ID, LD, and GDD. The company is specialized organization for autism and developmental delay care. 

Awards, accreditations, certifications and recognitions

  • 2019: Awarded the Innovative Practice 2019 award for empowering parents and professionals who supports special needs kids by the Zero Project.
  • 2019: Recognised as the Promising Brand 2019 by The Economic Times.
  • 2019: Winner of the International Business Excellence Awards 2019 under Wellbeing & Health.
  • 2020: Awarded the most valued mother & child brands 2020 by the Times of India.

History and milestones

  • 2017-18: Incorporated as Rays of Belief Private Limited.
  • 2018-19: Received the Zero Project Award under the category of ‘Breaking the Barriers’ at the United Nations headquarters in Vienna, Austria. its Founder and CEO, Nitin Bindlish, was invited to speak and delivered a keynote at the United Nations.
  • 2020-21: Introduced the ‘Pay As You Like’ therapy model, allowing parents to access therapy services for as low as Rs 1 during the COVID period. Also launched Mind Belief, a corporate partnership program offering comprehensive mental health support to employees. 
  • 2020-21: Established the Mom’s Belief Pediatric Hearing Centre, a specialized facility offering advanced pediatric hearing care.
  • 2021-22: Launched MB School of Moms, a structured parent training program aimed at empowering mothers with the knowledge and skills to actively support their child’s development and therapy.
  • 2022-23: Initiated Partnership Centres, a strategic collaboration with pediatricians to aid the launch of new centres. 
  • 2022-23: Introduced Mom's Belief Care, an insurance plan designed specifically for parents of children with special needs. 
  • 2022-23: Launched 19 new centres across various locations. 
  • 2022-23: Formed a partnership agreement with The LEGO Foundation. Rolled out the Family Support Program (FSP) to further assist families of children with developmental needs.
  • 2023-24 Launched over 20 new centres. Introduced Early Intervention Centres (EICs) to expand outreach for early developmental support.
  • 2024-25: Launched 48 new centres across various locations. Converted from a private limited company to a public limited company. Accordingly, the name was changed from Rays of Belief Private Limited to Rays of Belief Limited.
  • 2025-26: Made the company’s first overseas investment in the United States, resulting in the formation of a wholly owned subsidiary.

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