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Rentomojo Ltd

RENTOMOJO

NSE

₹567.35-2.40%19 Oct 2026

Reports

Miscellaneous

Rentomojo Ltd

RENTOMOJO

NSE

₹567.35

-2.40%

19 Oct 2026

SOICxStockScans Reports

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Miscellaneous

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Founded in 2012, Rentomojo operates India's largest technology-driven direct-to-consumer rental platform for home furniture and appliances, sustaining a circular multi-cycle refurbishment engine across 22 cities. The company purchases durable household goods, leases them to urban consumers on flexible monthly contracts, and repeatedly refurbishes and redeploys returned items to extract cash flows across the full physical life of each asset.

At a glance


Scale	Revenue grew from ₹120.10 cr (FY23) to ₹265.96 cr (FY25) and ₹176.61 cr in 6M FY26
Business mix	Rental services (93.68%), delivery/installation (2.38%), other charges (3.94%) in 6M FY26
Market position	42% to 47% subscription revenue share in organised furniture/appliances rental (FY25)
Footprint	21 warehouses (444,486 sq. ft.) and 67 experience stores across 22 Indian cities
Customers & concentration	227,511 live subscribers; zero dependency on single or small group of customers
Revenue model	Recurring monthly postpaid subscription rentals with 18.82-month average tenure (FY25)
The Offer	₹150 cr fresh issue plus 28,399,567 OFS shares; Promoters selling alongside funds

Business segments

Two complementary subscription engines spanning core furniture and appliance rentals alongside high-frequency private-label water purifier subscriptions.

1. Core furniture and large appliances: the multi-cycle rental engine

Monetises residential furniture and white goods across repeated multi-year subscriber deployments on a 10-year useful life asset pool.

Long-term revenue generation - Durable assets continue yielding returns over multiple years, with 56.88% of FY17 and 61.86% of FY18 cohorts still generating rental revenue after eight years of deployment.
Broad product catalog - It manages 728,773 live items covering bedroom, living, dining, and home office furniture alongside appliances like split air conditioners and refrigerators.
Contract manufacturing partnerships - The company partnered with Dixon Technologies to manufacture 'Zenovi by Mojo' private-label refrigerators, washing machines, and televisions, improving procurement control.
Consistently high utilization - Maintained average rental occupancy exceeding 80% across FY23, FY24, FY25, and the first half of FY26 because reverse logistics swiftly return products to active contracts.
Full balance sheet ownership - Ceased third-party sale-and-leaseback models in FY24 to retain 100% asset ownership on its balance sheet, retaining all recurring cash flows.

2. Water purifier subscriptions: zero-friction utility rentals

Captures entry-level urban renters through low monthly price points bundled with automated maintenance.

Rapid volume expansion - The fleet of onboarded purifier units expanded at a 590.39% CAGR between FY23 and FY25 as water purification emerged as an essential entry hook for urban renters.
Cost advantage over bottled water - Offers proprietary purifiers at ₹391 per month, creating an economical alternative to the ₹25,530 spent on average for a two-year bottled water supply.
Frictionless servicing - Dispatches automated filter replacements every six months triggered by internal systems at no added cost, which prevents subscriber churn caused by maintenance friction.
Specialized OEM sourcing - Procures units directly under original equipment manufacturer (OEM, the manufacturer that builds the final product) agreements with Sarjan Watertech and Genpure Zheng Filters.

In-house refurbishment and reverse logistics platform

Orchestrates reverse logistics, ML risk scoring, and refurbishment to cycle recovered assets back to live occupancy.

End-to-end service orchestration - The proprietary Mojodesk ticketing platform managed 1,209,160 customer touchpoints across 11 lifecycle stages in FY25, automating task routing and escalation.
Extensive restoration capacity - A field and warehouse workforce of 1,688 technicians, carpenters, and painters completed 1,375,268 cumulative asset restorations to bring returned goods back to mint condition.
Compressed fulfillment cycles - The MojoVaahan route-planning system reduced average customer delivery turnaround from 4.06 days in FY23 to 2.54 days in the first half of FY26.

Monthly postpaid contracts with multi-year asset retention

High collection efficiency - Invoices subscribers on the final day of each month with a 10-day payment window, delivering a 98.32% collection realisation efficiency in the first half of FY26.
Expanding customer spend - Repeat subscriber orders accounted for 52.18% of total orders in the first half of FY26, while average products held per active user expanded to 2.75 items.
Substantial contracted visibility - Total contracted subscription commitments reached ₹412.86 cr by September 2025, including ₹229.43 cr in unrecognised future billings scheduled over ongoing tenures.
Ancillary revenue protection - Collects monthly optional damage protection fees alongside end-of-tenure quality assessment charges on returned inventory.

Urban mobility driving home asset rental penetration

Indian furniture and appliances rental TAM projected to reach ₹117,210 cr ($13.8B) by CY2030.

Urban relocation tailwinds - Expanding white-collar migration and a semi-furnished rental housing share of 55% drive flexible home setup demand among young urban households.
Category market lead - Controls between 50% and 55% of all active subscribers across the organised non-purifier rental category as of September 2025.
Direct competitive set - Operates against organised home and appliance rental players including House of Kieraya, CityFurnish, AVA Lifestyle, Livpure Smart, and Waterwala.

Single operational core with one newly incorporated unit

Entity	Stake	What it adds
Liber Designs Private Limited	100.00%	Wholly owned subsidiary incorporated November 2024 to design and assemble furniture; 1 share held by Promoter Geetansh Bamania as nominee

Debt reduction and warehouse lease pre-funding

Prepaying bank debt - ₹70 cr of fresh issue proceeds will be used to prepay term loans from IDFC FIRST Bank, extinguishing 38.98% of total outstanding borrowings.
Securing facility leases - Allocates ₹42.5 cr to pre-fund upcoming lease and license payments across 21 distribution warehouses and 67 retail experience stores through FY29.
Post-listing board alignment - Special private equity governance privileges, information access, and board observer seats terminate on listing, while the Promoter retains two board seats.

Worth keeping in mind

6M FY26 restated PAT of ₹61.38 cr was inflated above PBT (₹28.53 cr) by a ₹32.84 cr net deferred tax credit
Prospectus disclosures use standalone financials for Rentomojo while peer comparisons use consolidated figures
None of the ₹150 cr fresh issue fund deployments have been appraised by banks or independent agencies
FY25 other income included ₹1.16 cr from an insurance settlement for a 2021 Mumbai warehouse fire
Statutory auditors recorded CARO observations for FY25 and matters of emphasis for FY23 Ind AS accounts

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹5,907Cr

Close Price

₹567.35

Industry

Miscellaneous

Price To Earnings

55.24

Price To Sales

15.26

Revenue

₹387Cr

Rev Gr TTM

Revenue Growth TTM

—

PAT Gr TTM

PAT Growth TTM

—

Consolidated

Standalone

Numbers

Percentage

Quarter	Jun 2025	Mar 2026	Jun 2026
Revenue RevenueCr	84	110	126
Growth YoY Revenue Growth YoY%			51.1
Expenses ExpensesCr	50	65	75
Operating Profit Operating ProfitCr	34	45	52
OPM OPM%	40.1	41.1	40.8
Other Income Other IncomeCr	1	4	-11
Interest Expense Interest ExpenseCr	7	6	7
Depreciation DepreciationCr	15	20	23
PBT PBTCr	13	23	11
Tax TaxCr	0	6	3
PAT PATCr	13	17	8
Growth YoY PAT Growth YoY%			-38.6
NPM NPM%	15.3	15.3	6.2
EPS EPS₹	1.3	1.7	1.9

Quarter	Jun 2025	Mar 2026	Jun 2026
Revenue RevenueCr	84	110	126
Growth YoY Revenue Growth YoY%			51.1
Expenses ExpensesCr	50	65	75
Operating Profit Operating ProfitCr	34	45	52
OPM OPM%	40.1	41.1	40.8
Other Income Other IncomeCr	1	4	-11
Interest Expense Interest ExpenseCr	7	6	7
Depreciation DepreciationCr	15	20	23
PBT PBTCr	13	23	11
Tax TaxCr	0	6	3
PAT PATCr	13	17	8
Growth YoY PAT Growth YoY%			-38.6
NPM NPM%	15.3	15.3	6.2
EPS EPS₹	1.3	1.7	1.9

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2026
Revenue RevenueCr	387
Growth Revenue Growth%
Expenses ExpensesCr	228
Operating Profit Operating ProfitCr	159
OPM OPM%	41.1
Other Income Other IncomeCr	5
Interest Expense Interest ExpenseCr	25
Depreciation DepreciationCr	70
PBT PBTCr	68
Tax TaxCr	-37
PAT PATCr	104
Growth PAT Growth%
NPM NPM%	26.9
EPS EPS₹

Financial Year	Mar 2026
Revenue RevenueCr	387
Growth Revenue Growth%
Expenses ExpensesCr	228
Operating Profit Operating ProfitCr	159
OPM OPM%	41.1
Other Income Other IncomeCr	5
Interest Expense Interest ExpenseCr	25
Depreciation DepreciationCr	70
PBT PBTCr	68
Tax TaxCr	-37
PAT PATCr	104
Growth PAT Growth%
NPM NPM%	26.9
EPS EPS₹

Consolidated

Standalone

Numbers

Percentage

Financial Year
Equity Capital Equity CapitalCr
Reserves ReservesCr
Current Liabilities Current LiabilitiesCr
Non Current Liabilities Non Current LiabilitiesCr
Total Liabilities Total LiabilitiesCr
Current Assets Current AssetsCr
Non Current Assets Non Current AssetsCr
Total Assets Total AssetsCr

Financial Year
Equity Capital Equity CapitalCr
Reserves ReservesCr
Current Liabilities Current LiabilitiesCr
Non Current Liabilities Non Current LiabilitiesCr
Total Liabilities Total LiabilitiesCr
Current Assets Current AssetsCr
Non Current Assets Non Current AssetsCr
Total Assets Total AssetsCr

Consolidated

Standalone

Financial Year
Operating Cash Flow Operating Cash FlowCr
Investing Cash Flow Investing Cash FlowCr
Financing Cash Flow Financing Cash FlowCr
Net Cash Flow Net Cash FlowCr
Free Cash Flow Free Cash FlowCr
CFO To PAT CFO To PAT%
CFO To EBITDA CFO To EBITDA%

Financial Year
Operating Cash Flow Operating Cash FlowCr
Investing Cash Flow Investing Cash FlowCr
Financing Cash Flow Financing Cash FlowCr
Net Cash Flow Net Cash FlowCr
Free Cash Flow Free Cash FlowCr
CFO To PAT CFO To PAT%
CFO To EBITDA CFO To EBITDA%

Consolidated

Standalone

Financial Year	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr		5,907
Price To Earnings Price To Earnings		55.2
Price To Sales Price To Sales		15.3
Price To Book Price To Book		37.7
EV To EBITDA EV To EBITDA		38.1
Profitability Ratios Profitability Ratios
GPM GPM%
OPM OPM%	41.1	41.1
NPM NPM%	26.9	26.9
ROCE ROCE%
ROE ROE%
ROA ROA%
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr		5,907
Price To Earnings Price To Earnings		55.2
Price To Sales Price To Sales		15.3
Price To Book Price To Book		37.7
EV To EBITDA EV To EBITDA		38.1
Profitability Ratios Profitability Ratios
GPM GPM%
OPM OPM%	41.1	41.1
NPM NPM%	26.9	26.9
ROCE ROCE%
ROE ROE%
ROA ROA%
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	CMPDI	HORIZONIND	EMBDL	RENTOMOJO	LEAPIND	INOXGREEN	CMRGREEN
Market CapitalizationMkt CapCr	14,053	13,731	7,465	5,907	5,822	4,952	4,761
Close PriceClose₹	196.82	47.63	53.68	567.35	132.15	118.01	217.33
IndustryIndustry	Miscellaneous	Miscellaneous	Miscellaneous	Miscellaneous	Miscellaneous	Miscellaneous	Miscellaneous
Price To EarningsPE	21.49			55.24	111.05	37.95	21.54
Price To SalesPS	6.07	19.86	5.90	15.26	7.98	17.96	0.55
RevenueRevenueCr	2,317	691	1,265	387	730	276	8,640
Revenue Growth TTMRev Gr TTM%			-46.6%			16.3%
PAT Growth TTMPAT Gr TTM%			-872.1%			204.1%

	CMPDI	HORIZONIND	EMBDL	RENTOMOJO	LEAPIND	INOXGREEN	CMRGREEN
Market CapitalizationMkt CapCr	14,053	13,731	7,465	5,907	5,822	4,952	4,761
Close PriceClose₹	196.82	47.63	53.68	567.35	132.15	118.01	217.33
IndustryIndustry	Miscellaneous	Miscellaneous	Miscellaneous	Miscellaneous	Miscellaneous	Miscellaneous	Miscellaneous
Price To EarningsPE	21.49			55.24	111.05	37.95	21.54
Price To SalesPS	6.07	19.86	5.90	15.26	7.98	17.96	0.55
RevenueRevenueCr	2,317	691	1,265	387	730	276	8,640
Revenue Growth TTMRev Gr TTM%			-46.6%			16.3%
PAT Growth TTMPAT Gr TTM%			-872.1%			204.1%

FY2026

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FY2026

Jun 26

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FY2026

Jun 26

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