What Rishabh Instruments does

Rishabh Instruments Limited is a publicly listed Indian industrial technology company founded in 1982 in Nashik, Maharashtra by Narendra Joharimal Goliya. The company designs and manufactures electrical automation, metering, and instrumentation devices, including analog panel meters, digital energy meters (RISH ED, EM, LM, MD, and Delta series), low-voltage current transformers (where it ranks among top global manufacturers), test and measurement instruments such as multimeters and clamp meters, power supplies, single-phase on-grid solar PV inverters, and proprietary PROMOTIC SCADA software developed by group subsidiary MICROSYS. The integrated portfolio supports turnkey monitoring and control deployments spanning over 50,000 mission-critical parameters for data centers, industrial facilities, and power infrastructure. It operates five state-of-the-art manufacturing facilities across India, Poland (Lumel SA, including one of Europe's most advanced electronics assembly lines commissioned May 2025), and China, with seven accredited R&D centres.

The company generates revenue predominantly through hardware sales across four streams: electrical instruments and meters, current transformers, integrated industrial automation/SCADA solutions, and aluminium HPDC die-casting services (Lumel Alucast). Distribution combines a network of over 350 authorized dealers in more than 100 countries with direct enterprise sales to major OEMs including ABB, Siemens, Schneider Electric, Hitachi Energy, L&T, Endress+Hauser, and SpaceX. Its customer base spans energy and utilities, data centers, industrial automation, railway signaling, renewable energy, process industries, and agriculture. In FY26, the Electrical Equipment and Instrumentation (EEI) segment contributed 69.3% of total revenue of Rs 775 crore, with EBITDA of Rs 126 crore (up 161% YoY) and net profit of Rs 82 crore (up 292% YoY), reflecting sharp margin expansion following the exit of approximately Rs 100 crore of loss-making European automotive die-casting contracts. Pricing is not publicly disclosed and is quote-based for enterprise and OEM customers.

Name

Rishabh Instruments

Legal name

Rishabh Instruments Limited

Website

https://rishabh.co.in

Company type

Public

Founded year

1982

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Rishabh Instruments Limited is a publicly listed Indian manufacturer of electrical metering, instrumentation, and automation products, including analog and digital panel meters, current transformers, test instruments, solar inverters, and PROMOTIC SCADA software. It serves industrial OEMs, data centers, utilities, and process industries globally through 350+ dealers across 100+ countries and direct enterprise sales.

Ownership category

akta.pro rank

Product category

Electrical Measurement & Industrial Instrumentation

NAICS

Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables (334513), Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515), Power, Distribution, and Specialty Transformer Manufacturing (335311), Other Measuring and Controlling Device Manufacturing (334519), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451), Relay and Industrial Control Manufacturing (335314)

SIC

Industrial Instruments For Measurement, Display, And Control (3823), Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Electronic Coils, Transformers & Other Inductors (3677), Electrical Industrial Apparatus (3620)

akta.pro primary industry

Instrumentation, Controls & Automation (DCS/PLC/SCADA, SIS, Metering) (EUAEAFAC)

akta.pro secondary industries

SCADA & Telemetry Software (Control Center) (EUADAEAD), Instrument Transformers (CTs/VTs) & Sensors (Conventional/Optical) (EUADACAG), Process Control & Automation Electronics Manufacturing Services (PLCs, I/O, DCS/SCADA hardware) (IMAGAGAK), Energy Management Systems & Plant Controllers (PPC, AGC Participation, Curtailment Control) (EUAMAIAI)

Keywords

• Electrical measurement instruments
• Energy metering solutions
• Current transformers
• Industrial automation SCADA
• Panel meters

Headquarters

HQ city

Nasik

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Electrical Instruments and Meters: Sale of analog panel meters, digital meters, energy meters, power meters, and related electrical measurement instrumentation products to industrial customers globally through dealer network and direct sales
2. Current Transformers: Manufacturing and sale of low-voltage current transformers, positioned among top global manufacturers
3. Industrial Automation Solutions: Integrated SCADA and automation systems for data centers, industrial facilities, and power infrastructure projects
4. Die-Casting Services: High-precision aluminium high-pressure die-casting (HPDC) solutions for automotive and flow meter production. Company exited approximately Rs 100 crore of loss-making automotive contracts in European die-casting business to improve margins
5. Electronic Devices for Industrial Automation: Lumel SA (Poland subsidiary) supplies advanced electronic devices for industrial automation applications to European energy sector customers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Rishabh Instruments designs and manufactures electrical automation, metering, and instrumentation devices including analog panel meters, digital energy meters, low-voltage current transformers, digital multimeters, insulation testers, and single-phase PV inverters. The company also delivers turnkey industrial automation solutions integrating PROMOTIC SCADA software with proprietary measurement hardware for data centers, power infrastructure, and process industries. Operations span five manufacturing facilities in India, Poland, and China, supported by seven R&D centres and 350+ authorized dealers globally.

Product overview

Rishabh Instruments is a global energy efficiency solution company specializing in electrical automation, metering, and instrumentation devices. The company offers an extensive portfolio including analog panel meters, digital energy meters (RISH ED, DC, EM, LM, MD, Delta series), test and measurement instruments (multimeters, clamp meters, insulation testers), power supplies, current transformers, relays, switches, and SCADA software. The portfolio is organized around core products like the RISH EM and Delta Energy series for energy metering, RISH LM series for load management, and test equipment like the RISH 610 and 6012/6013 series multimeters. Key subsidiaries include Lumel SA (Poland) for industrial automation electronics, Sifam Tinsley Instrumentation Inc. (US) for the American market, Shanghai VA Instrument (China), Lumel Alucast for die-casting solutions, and MICROSYS for SCADA software. The company operates five manufacturing facilities in India, Poland, and China with seven accredited R&D centers and maintains a network of over 350 authorized dealers across more than 100 countries.

Differentiator

Problem solved

Functional benefit

Brands

• Lumel: Poland-based manufacturer of electronic devices for industrial automation applications
• Sifam Tinsley
• Lumel Alucast
• PROMOTIC SCADA

Products and services

• RISH ED21X1 Single-Phase Energy Meter Measures important electrical parameters in single-phase two-wire networks with 100A max current direct connection, 2 SO outputs, 1 DI for tariff counter, and LCD display with impulse LED for energy monitoring. For industrial and commercial energy billing applications.
• RISH ED11X1 Single-Phase Energy Meter Single-phase energy meter with direct connection up to 45A, featuring remote monitoring and setting, SO output, and MODBUS port for utility and industrial energy monitoring.
• RISH DC2111 MOD DC Energy Meter Advanced single-channel DC energy meter for bidirectional energy measurement in EV charging, telecom base stations, solar PV, and industrial DC systems. Supports current measurement up to 2000A via external shunt with Class 1 accuracy per IEC 62053-41:2021.
• RISH EM 1320/30/40 Energy Meter Series Energy meter measuring electrical parameters in 3-phase and single-phase networks, replacing multiple analog panel meters. Measures Active/Reactive/Apparent energy and power with optional pulse output and compliance to IEC 62053-21/23 and IEC 61010-1:2010.
• RISH LM 1360 Load Manager (RJ12) Load Manager measuring electrical parameters in three-phase four-wire, three-phase three-wire, and single-phase two-wire networks with energy, power, and basic parameters. Features 2 optional outputs configurable as pulse output, limit output, timer function, and RTC relay.
• RISH Delta Power NX Digital Panel Meter Three-line, three-phase digital panel meter for reliable and accurate true-RMS measurement of electrical parameters including voltage, current, power, frequency, power factor, and demand parameters for industrial applications.
• RISH Delta VAF NX Multi-Function Meter Multi-function meter for reliable and accurate measurement of AC parameters (voltage, current, frequency, power factor) with true RMS measurement for industrial and commercial applications.
• RISH Delta Energy NX Energy Meter Energy meter measuring electrical parameters in 3-phase and single-phase networks with Active/Reactive/Apparent energy and power measurement. Features optional MODBUS RTU over RS-485 for remote monitoring.
• DIN Rail RISH MD1340 Energy Meter DIN-mounted energy meter measuring electrical parameters in 3-phase and single-phase networks. Energy measurement per IEC 62053-22, 23, IEC 61557-12, EN50470-3 Class B with accuracy Class 0.5s (optional Class 0.2s) for industrial panel builders.
• RISH LM 1340 Load Manager Load Manager measuring electrical parameters in 3-phase and single-phase networks with optional digital outputs and digital inputs for monitoring external contact status, pulse counting, and tariff in industrial power monitoring.
• RISH LM 1380 Load Manager Load Manager with 4 digital inputs and 2 optional digital outputs, featuring THD and individual harmonics measurement up to 63rd harmonics, dual communication port (RS 485 + Ethernet), and inbuilt data logging with RTC for advanced energy monitoring.
• Rishabh 610 Digital TRMS Multimeter Digital TRMS multimeter in pocket-size design with voltage from 10µV to 1000V, current measurement, resistance from 0.1Ω to 60MΩ, diode measurement, continuity testing, and temperature measurement with K-type thermocouple. For electrical and electronics field service applications.
• Rishabh 6012/6013/6015/6016 Bluetooth Multimeter Advanced digital multimeter with Bluetooth communication and Android/iOS based mobile application for data display. Offers 30 different measuring functions for test automation in field service and industrial environments.
• RISH Insu 10Dx+ Digital Insulation Tester Digital insulation tester with selectable test voltage up to 10kV and insulation resistance measurement up to 20 TΩ. Ideal for testing insulation in live switchyards for utilities and industrial maintenance crews.
• RISH Clamp 1000A/300A AC/DC Clamp Meter 3¾ digit 1000A AC/DC clamp meter measuring Aac/dc, Vac/dc, Vdc, frequency, resistance, continuity, Hz, duty cycle, and temperature. Features 180° rotating clamp jaws, backlit display, and auto/manual mode for electrical maintenance.
• RISH CW Series Open Loop Current Transducer Open loop current transducers converting AC, pulsating DC, mixed AC+DC, and pure DC current into proportional analog voltage output with full galvanic isolation for industrial monitoring and control systems.
• RISH LTRP CT Series Current Transformers Resin cast, encapsulated current transformers with rectangular window suitable for wide current range. Designed for easy busbar/cable mounting with clear directional marking for switchgear and panel builders.
• Dual Moving Iron AC Meters (EQ 2 in 1) 2-in-1 meters measuring rms values of AC voltage or AC current in a single enclosure, housed in UL 94 V-0 approved polycarbonate case for space-constrained panel applications including agricultural pump control.
• RISH Elite Series 36/72/120 W Battery Charger/Power Supply Switch mode battery charger/power supply series with automatic 3-stage charge profile (Bulk, Absorption/Boost & Float), suitable for 1-phase universal input in industrial control panels and DC backup systems.
• RISH Flex 48024A (1 Phase) Power Supply 1-phase DIN rail mountable power supply with 115-230Vac input and 24VDC output (384-480W), featuring high efficiency ≥92% and adjustable output voltage range for industrial control cabinets.
• RISH HVT 10kVAC High Voltage Tester High voltage tester providing 10kV test voltage to determine withstand strength of electrical insulation. Features manual operation, variable output voltage, selectable tripping current, and safety protections for switchgear and cable testing.
• RISH SPPR Single Phase Preventer Relay Single phase preventer relay protecting systems from voltage line faults including unbalance, phase failure, and incorrect phase sequence faults with fail-safe operation for three-phase motor and equipment protection.
• Rish EarthLite Digital Earth Resistance Tester High-performance instrument for accurate verification and evaluation of electrical earthing installations using Two-Pole and Three-Pole earth resistance measurement methods for electrical safety compliance testing.
• Single-Phase On-Grid PV Inverter Single-phase transformerless on-grid PV inverter for residential rooftop installations with peak efficiency of 97.7%, advanced MPPT, low THD, integrated Anti-Islanding, IP66 rating, and multiple connectivity options (RS-485, Wi-Fi/Ethernet, GPRS/4G, Bluetooth). BIS-registered, IEC and CE compliant.
• PROMOTIC SCADA Software SCADA software developed by MICROSYS (a Rishabh Group company) for industrial automation, monitoring, and control. Deployed in large-scale data center monitoring systems and contributed to the Axiom-4 space mission for monitoring freeze-dried food production for the International Space Station.
• Electronic Manufacturing Services (EMS) Electronic Manufacturing Services facility providing PCB assemblies (SMT and through-hole), box-build solutions, and end-to-end manufacturing services for automotive, industrial automation, medical devices, energy management, and IoT customers. Customers include Panache Digilife, Thermo Fisher Scientific, and Chemito Infotech.

Quantifiable outcome

• FY26 revenue grew 7.6% year-on-year to Rs 775 crore
• +5 more outcomes

Named customers14 records

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature7 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• ASPIRE-IITB Research Park FoundationcoreStrategic or Co-development Partner · 3 March 2025Partnership with IIT Bombay to establish Rishabh Group's sixth R&D Centre at IIT Bombay campus. The collaboration encompasses student-driven projects and R&D activities, enabling co-creation of pioneering solutions for the industry. Provides access to state-of-the-art research facilities, leading faculty, and young innovators.
• IIT JodhpurcoreStrategic or Co-development Partner · 5 September 2024Partnership to establish the Rishabh Centre for Research and Innovation in Clean Energy with Rs 70 Cr donation. Also established the Endowed Goliya Chair Professorship and the Endowed Johri Young Faculty Fellowship in Clean Energy under this initiative. Centre aims to become a global hub for research in Green and Clean Energy with focus on Energy Harvesting, Energy Materials & Storage, Energy Efficiency, and Carbon Sequestration.
• Ivaan FoundationminorStrategic or Co-development PartnerPartnership with Ivaan Foundation in the Rishabh Centre for Clean Energy initiative for developing sustainable energy solutions and creating a global hub for research and innovation.
• IIT JodhpurcoreStrategic or Co-development PartnerConstruction commenced on the Rishabh Centre for Research and Innovation in Clean Energy in partnership with IIT Jodhpur and Ivaan Foundation. The center aims to develop transformative solutions that empower communities and create lasting positive environmental impact.
• Lauritz Knudsen (Schneider Electric India)coreStrategic or Co-development PartnerActive participation in quality competitions including QC Circle Competition and QCC Competition. APM Team participated at Lauritz Knudsen facility in Renuka Nagar, MIDC Ahmednagar. Company won 1st Place at Vendor QCC Competition for 'Smart Vision-Based Inspection System for Industrial Analog Panel Meters'.
• U.S. Data Center OperatorscoreStrategic or Co-development PartnerCompany is pursuing UL certifications to supply U.S. data centers and power infrastructure projects. Management targeting U.S. market expansion as primary growth driver.
• Panache Digilife LimitedminorStrategic or Co-development PartnerCustomer who graced the inauguration of Rishabh Instruments' new Electronic Manufacturing Services (EMS) facility.
• Thermo Fisher ScientificminorStrategic or Co-development PartnerCustomer who graced the inauguration of Rishabh Instruments' new Electronic Manufacturing Services (EMS) facility.
• Chemito Infotech Pvt. Ltd.minorStrategic or Co-development PartnerCustomer who graced the inauguration of Rishabh Instruments' new Electronic Manufacturing Services (EMS) facility.
• PCCOE PUNE (Pimpri Chinchwad College of Engineering)minorStrategic or Co-development PartnerPartnership supporting Team Kratos Racing from PCCOE PUNE for Formula Bharat electric car competition. Provided two CAT III 410 series Digital Multimeters for precise electrical measurements. Team secured 1st place in India in endurance challenge completing 22 km non-stop.
• Germany-based Energy CompanycoreStrategic or Co-development PartnerLumel SA signed €5 million (~Rs 50 Crores) multi-year contract through 2026 for supply of advanced electronic devices for industrial automation in the energy sector. Second order from the same customer, developed over months of joint engineering. Strong potential for extension based on performance.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Yokogawa Electric: Japanese industrial automation and measurement company offering power meters, energy meters, recorders, and process instrumentation directly overlapping Rishabh's core panel meter, energy meter, and SCADA/recorder portfolio for industrial and utility customers.
• Fluke Corporation: Fortive-owned global leader in electrical test and measurement tools (digital multimeters, clamp meters, insulation testers) that directly competes with Rishabh's Rishabh 610, 6012/6013 Bluetooth multimeter, RISH Clamp, and RISH Insu product families.
• Megger: Specialist in electrical test and measurement including insulation testers, low-resistance ohmmeters, and transformer test equipment directly comparable to Rishabh's RISH Insu 10Dx+, RISH HVT 10kVAC, and current transformer products.
• Hioki E.E. Corporation: Japanese manufacturer of electrical measuring instruments including power meters, clamp meters, insulation testers, and data loggers, directly competing with Rishabh's test and measurement portfolio in industrial and field-service applications.
• Chauvin Arnoux: French manufacturer of electrical measurement instrumentation (multimeters, clamp meters, power/energy analyzers, current transformers) that competes head-on with Rishabh across portable T&M and panel-mount metering categories in European and global markets.
• Lovato Electric: Italian manufacturer of industrial automation and energy metering products including power meters, current transformers, soft starters, and monitoring relays - directly comparable to Rishabh's analog panel meters, digital energy meters, and industrial automation offerings.
• Socomec: French specialist in power monitoring, energy metering, current transformers, and data center power quality solutions, directly comparable to Rishabh's RISH EM, RISH LM, MD series meters and data center monitoring project win.

Broad incumbents

• Schneider Electric: Global broad-line incumbent in energy management, automation, and power monitoring that competes broadly with Rishabh's EEI portfolio while also being one of Rishabh's largest OEM customers (via Lauritz Knudsen).
• ABB: Global incumbent in electrification, automation, and motion with overlapping offerings in protection relays, energy meters, and SCADA; simultaneously a key Rishabh customer recognized at the ABB Supplier Meet 2024 for business collaboration.
• Siemens: Global conglomerate whose Smart Infrastructure division sells energy meters, power monitoring, and SCADA software directly competing with Rishabh's data center and EEI portfolio; also a Rishabh enterprise customer.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/rishabhinstrmts
• Facebookfacebook.com/244932278864609
• LinkedInlinkedin.com/company/rishabh-instruments-private-limited

Compliance18 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rishabh Instruments