Reliance Industries Ltd (RELIANCE) — Share Price, Financials & Ratios

Key Fundamentals

LargecapRefineries & MarketingPetroleum Products

Market Cap

17.9L Cr

Volatility

Moderate

P/E Ratio

22.08

EBITDA

2.1L Cr

Return on Equity

8.54%

Debt to Equity

0.44

Book Value

₹668.04

EPS

₹101.61

52W High

₹1,611.8

52W Low

₹1,253.2

Technical Indicators

Key Insights

Weaknesses

2

Company has a low return on equity of 8.77% over last 3 years.
Dividend payout has been low at 7.36% of profits over last 3 years

Growth Rate

Revenue Growth

10.53% ↘

Net Income Growth

18.35% ↗

Cash Flow Change

7.50% ↗

ROE

10.00% ↗

ROCE

5.40% ↗

EBITDA Margin (Avg.)

2.52% ↗

AI Analysis — Bull vs Bear

anthropic

claude-opus-4.6 1d ago

BUY

Risk medium

Reliance Industries commands a market cap of Rs 17.6 lakh crore with a reasonable PE of 18.5x and strong 10-year sales CAGR of 15%. While ROE remains modest at 9% and near-term stock performance is weak at -10% over 1 year, the overwhelming analyst consensus of 96.4% buy ratings and diversified business moat support a buy with moderate confidence.

Bull Case 8

Strong analyst consensus with 96.4% buy ratings — 27 out of 28 analysts recommend buying
Reasonable valuation at PE of 18.5x for a diversified conglomerate with multiple growth engines
Robust 10-year compounded sales growth of 15% CAGR demonstrating long-term revenue scaling ability
10-year stock CAGR of 20% indicating sustained long-term wealth creation for shareholders
TTM profit growth of 14% showing accelerating earnings momentum versus 5-year CAGR of 12%
TTM sales growth of 10% indicates continued topline expansion across business segments
Price-to-book ratio of 1.96x is reasonable for a company with Rs 17.6 lakh crore market cap and diversified assets in telecom, retail, and energy
5-year compounded sales CAGR of 18% reflects successful scaling of Jio and Retail businesses

Bear Case 7

Low return on equity of 8.77% over 3 years signals inefficient capital utilization for a company of this scale
Stock has delivered -10% return over the past 1 year, underperforming broader market significantly
Dividend payout of only 7.36% of profits over last 3 years reflects poor capital return to shareholders
Dividend yield of just 0.45% is unattractive for income-seeking investors
3-year stock CAGR of only 4% suggests prolonged period of underperformance and multiple compression
3-year compounded profit growth of just 5% is below the 10-year average of 10%, indicating a slowdown
ROE has stagnated at 9% across 1-year, 3-year, 5-year, and 10-year periods showing no improvement in capital efficiency

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

anthropic

claude-opus-4.6 1d ago

Headwinds 4

Q4 profit down 12.6% YoY Jun 16

Q4 FY26 consolidated net profit fell 12.6% YoY to ₹20,589 crore despite record quarterly revenue of ₹3,25,290 crore, reflecting O2C margin pressure and higher depreciation from 5G investments.
Stock down 7% over past year Jun 17

Reliance shares declined 7.06% over the trailing year, underperforming the Nifty's 3.09% drop. Trading volumes on Jun 17 were just 54.48 lakh shares versus the monthly average of 174.87 lakh.
Jio IPO pricing tension May 28

Conflict between early investors seeking $150-170B valuation and Reliance's desire to protect retail investors may cap IPO size at $3-3.5B versus earlier $4-4.5B estimates, with timeline possibly pushed to H2 FY27.
Geopolitical and oil price risks Jun 16

Iran conflict has worsened capital outflows and complicated Middle Eastern investor participation. Brent crude volatility and physical crude premiums of ~$20/barrel continue to pressure O2C segment margins.

Positives 6

Jio Platforms files IPO DRHP Jun 20

Jio Platforms filed DRHP with SEBI for a fresh issue of 27 crore equity shares (face value ₹10 each), approved by Board on June 19, 2026. Jio has 524M subscribers, 268M 5G users, and FY26 PAT exceeding ₹30,000 crore.
Record FY26 revenue and profit Jun 19

Reliance posted record FY26 revenue of ₹11,75,919 crore (+9.8% YoY) and net profit of ₹95,754 crore (+18.3% YoY), demonstrating strong full-year growth across segments.
Supreme Court clears fraud charge Jun 2

Supreme Court overturned SAT ruling, confirming no fraud was committed by Reliance Industries. Penalty reduced to a disclosure violation only.
Jio ranks 20th in WIPO patents Jun 14

Jio Platforms surged 320 places to rank 20th globally in WIPO's 2025 PCT patent rankings, with 6,817 cumulative patent filings by March 31, 2026.
₹6 per share FY26 dividend Jun 19

Reliance declared a dividend of ₹6 per share for FY26 at its AGM with all resolutions passed with requisite majority.
Morgan Stanley sees 38% upside Jun 16

Morgan Stanley maintains a bullish view with 38% upside potential. Analyst consensus targets range from ₹1,666-1,698, implying 25-28% upside from current levels of ~₹1,329.

Neutral 8

Meta AI data centre in Jamnagar Jun 10

Reliance and Meta agreed to develop a 168 MW AI-enabled data centre in Jamnagar, Gujarat, to be delivered within two years. Estimated capex of ₹1,344-2,016 crore with expected 15-21% ROI.
AI backbone with NVIDIA GPUs Jun 19

Jio Chairman announced development of India's AI backbone in Jamnagar starting with new NVIDIA GPU deployment, positioning Jio as central to India's domestic AI infrastructure.
LEO satellite and 5G migration plans Jun 19

Akash Ambani unveiled Jio's LEO satellite service plans with ground station build-out and capacity leasing from global providers. Target set for all Jio users to migrate to 5G by 2030.
Jio Teleframe AI home OS launched Jun 19

Reliance announced Jio Teleframe, an AI home operating system. No pricing, availability, or technical specifications were disclosed.
Coal gasification for 200K green jobs Jun 19

Reliance's Co Executive Director highlighted progress in the coal gasification program aimed at generating 200,000 green jobs as part of the company's energy transition efforts.
₹8,646 Cr Jhajjar township investment Jun 4

Reliance signed agreements with Haryana government to invest ₹8,646 crore in a township project in Jhajjar, expanding its infrastructure development footprint.
₹31.45 Cr NSE block trade Jun 15

Reliance recorded a block trade of ~239,850 shares at ₹1,311.10 per share on NSE, totaling ₹31.45 crore in transaction value.
Active investor conference circuit Jun 2

Reliance executives attended Morgan Stanley, Citi, BofA, and ICICI Securities investor conferences between June 1-9, 2026, with no UPSI shared.

TL;DR: Reliance delivered strong FY26 results with record revenue and 18.3% profit growth, and the landmark Jio Platforms DRHP filing signals the long-awaited IPO is progressing. Key risks include Q4 margin compression in O2C, a 7% stock decline over the past year, and IPO pricing/timing uncertainties linked to geopolitics. The trend is improving near-term with a 5-session winning streak, analyst targets implying 25-28% upside, and multiple strategic catalysts (AI infrastructure, LEO satellites, new energy) providing a clear growth runway into FY27.

Quarterly Results

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	2,12,834	2,07,559	2,31,886	2,25,086	2,36,533	2,31,784	2,31,535	2,39,986	2,61,388	2,43,632	2,54,623	2,64,905	2,94,059
Expenses	1,74,478	1,69,466	1,90,918	1,84,430	1,94,017	1,93,019	1,92,477	1,96,197	2,17,556	2,00,727	2,08,738	2,18,887	2,49,918
Operating Profit	38,356	38,093	40,968	40,656	42,516	38,765	39,058	43,789	43,832	42,905	45,885	46,018	44,141
OPM %	18%	18%	18%	18%	18%	17%	17%	18%	17%	18%	18%	17%	15%
Other Income	2,996	3,813	3,841	3,869	4,534	3,983	4,876	4,214	4,905	15,119	4,482	4,914	4,447
Interest	5,819	5,837	5,731	5,789	5,761	5,918	6,017	6,179	6,155	7,036	6,827	6,613	6,585
Depreciation	11,452	11,775	12,585	12,903	13,569	13,596	12,880	13,181	13,479	13,842	14,416	14,622	14,808
PBT	24,081	24,294	26,493	25,833	27,720	23,234	25,037	28,643	29,103	37,146	29,124	29,697	27,195
Tax %	11%	25%	25%	25%	24%	25%	24%	24%	23%	17%	24%	25%	24%
Net Profit	21,327	18,258	19,878	19,641	21,243	17,445	19,323	21,930	22,611	30,783	22,092	22,290	20,589
EPS in Rs	14.26	11.83	12.85	12.76	14.01	11.19	12.24	13.7	14.34	19.95	13.42	13.78	12.54

Show % Change

Figures in ₹ Crores

Profit & Loss

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales	3,74,372	2,72,583	3,03,954	3,90,823	5,68,337	5,96,679	4,66,307	6,94,673	8,76,396	8,99,041	9,62,820	10,55,780
Expenses	3,36,923	2,30,802	2,57,647	3,26,508	4,84,087	5,07,413	3,85,517	5,86,092	7,34,078	7,36,543	7,97,222	8,76,715
Operating Profit	37,449	41,781	46,307	64,315	84,250	89,266	80,790	1,08,581	1,42,318	1,62,498	1,65,598	1,79,065
OPM %	10%	15%	15%	16%	15%	15%	17%	16%	16%	18%	17%	17%
Other Income	8,528	12,212	9,222	9,869	8,406	8,570	22,432	19,600	12,020	15,792	17,824	28,846
Interest	3,316	3,691	3,849	8,052	16,495	22,027	21,189	14,584	19,571	23,118	24,269	27,061
Depreciation	11,547	11,565	11,646	16,706	20,934	22,203	26,572	29,782	40,303	50,832	53,136	57,688
PBT	31,114	38,737	40,034	49,426	55,227	53,606	55,461	83,815	94,464	1,04,340	1,06,017	1,23,162
Tax %	24%	23%	25%	27%	28%	26%	3%	19%	22%	25%	24%	22%
Net Profit	23,640	29,861	29,833	36,080	39,837	39,880	53,739	67,845	74,088	79,020	81,309	95,754
EPS in Rs	17.07	21.51	21.55	26.69	29.28	29.1	38.75	44.87	49.29	51.45	51.47	59.69
Div. Payout %	12%	10%	11%	10%	10%	10%	9%	9%	9%	10%	11%	2%

Show % Change

Figures in ₹ Crores

Balance Sheet

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2,943	2,948	2,959	5,922	5,926	6,339	6,445	6,765	6,766	6,766	13,532	13,532
Reserves	2,15,556	2,28,608	2,60,750	2,87,584	3,81,186	4,42,827	6,93,727	7,72,720	7,09,106	7,86,715	8,29,668	8,90,498
Borrowings	1,68,251	1,94,714	2,17,475	2,39,843	3,07,714	3,55,133	2,78,962	3,19,158	4,51,664	3,50,719	3,74,313	4,02,962
Other Liabilities	1,17,736	1,72,727	2,25,618	2,77,924	3,02,804	3,58,716	3,40,931	3,99,979	4,38,346	6,10,848	7,32,200	8,70,554
Total Liabilities	5,04,486	5,98,997	7,06,802	8,11,273	9,97,630	11,63,015	13,20,065	14,98,622	16,05,882	17,55,048	19,49,713	21,77,546
Fixed Assets	1,56,458	1,84,910	1,98,526	4,03,885	3,98,374	5,32,658	5,41,258	6,27,798	7,24,805	7,79,985	9,99,393	11,24,795
CWIP	1,66,462	2,28,697	3,24,837	1,87,022	1,79,463	1,09,106	1,25,953	1,72,506	2,93,752	3,38,855	2,62,358	2,37,686
Investments	76,451	84,015	82,899	82,862	2,35,635	2,76,767	3,64,828	3,94,264	2,35,560	2,25,672	2,42,381	2,48,332
Other Assets	1,05,115	1,01,375	1,00,540	1,37,504	1,84,158	2,44,484	2,88,026	3,04,054	3,51,765	4,10,536	4,45,581	5,66,733
Total Assets	5,04,486	5,98,997	7,06,802	8,11,273	9,97,630	11,63,015	13,20,065	14,98,622	16,05,882	17,55,048	19,49,713	21,77,546

Show % Change

Figures in ₹ Crores

Cash Flow

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating	34,374	38,134	49,550	71,459	42,346	94,877	26,958	1,10,654	1,15,032	1,58,788	1,78,703	1,92,113
Investing	-64,706	-36,186	-66,201	-68,192	-94,507	-72,497	-1,42,385	-1,09,162	-93,001	-1,13,581	-1,37,535	-1,01,089
Financing	8,444	-3,210	8,617	-2,001	55,906	-2,541	1,01,904	17,289	10,455	-16,646	-31,891	-51,549
Net Cash Flow	-21,888	-1,262	-8,034	1,266	3,745	19,839	-13,523	18,781	32,486	28,561	9,277	39,475
Free Cash Flow	-28,588	-8,420	-27,077	-1,495	-50,431	19,324	-76,560	13,646	-16,770	21,212	41,079	70,023
CFO/OP	109	112	129	126	65	116	37	105	85	105	115	113

Show % Change

Figures in ₹ Crores

Ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	5	6	10	16	19	12	15	12	12	13	16	20
Inventory Days	66	90	84	83	63	67	102	83	87	95	85	88
Days Payable	74	117	132	146	100	87	136	123	91	111	108	84
Cash Conversion Cycle	-2	-21	-38	-46	-18	-9	-19	-27	7	-3	-8	25
Working Capital Days	-64	-148	-179	-179	-108	-158	-58	-56	-66	-53	-68	-66
ROCE %	9%	10%	10%	11%	12%	11%	8%	8%	9%	10%	10%	10%

Show % Change

Shareholding Pattern

	Dec 2015	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Oct 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	46.66%	50.58%	50.59%	50.61%	50.61%	50.66%	50.62%	50.57%	50.49%	50.41%	50.39%	50.27%	50.30%	50.31%	50.33%	50.24%	50.24%	50.13%	50.11%	50.07%	50.01%	50.01%	50.00%
FIIs	14.19%	0.02%	0.02%	0.02%	0.02%	0.02%	0.03%	0.05%	0.05%	0.07%	0.07%	22.60%	22.14%	22.06%	21.75%	21.29%	20.17%	19.15%	19.06%	19.21%	18.65%	19.09%	18.67%
DIIs	13.48%	10.35%	10.78%	10.84%	11.20%	11.74%	12.16%	14.10%	15.34%	16.14%	16.23%	16.07%	16.68%	17.09%	17.41%	17.68%	18.31%	19.10%	19.45%	19.80%	20.33%	20.18%	20.55%
Government	0.13%	0.20%	0.18%	0.18%	0.17%	0.17%	0.17%	0.10%	0.10%	0.10%	0.11%	0.11%	0.11%	0.12%	0.12%	0.12%	0.10%	0.10%	0.10%	0.10%	0.10%	0.10%	0.10%
Public	10.18%	8.89%	8.97%	8.62%	8.78%	8.71%	8.65%	8.60%	8.44%	8.72%	8.60%	8.80%	8.65%	8.39%	8.37%	8.58%	8.75%	9.01%	8.86%	8.48%	8.50%	8.27%	8.36%
Others	15.36%	29.96%	29.46%	29.73%	29.21%	28.69%	28.38%	26.57%	25.57%	24.56%	24.61%	2.15%	2.12%	2.03%	2.03%	2.09%	2.43%	2.50%	2.42%	2.35%	2.41%	2.36%	2.33%
No. of Shareholders	26,68,390	30,31,270	32,04,330	30,43,510	32,50,800	33,27,850	33,06,730	34,85,820	33,62,920	36,39,400	35,06,870	36,98,650	36,13,810	34,63,280	34,93,120	38,34,970	42,90,630	47,14,960	47,65,730	44,35,760	43,93,760	42,06,160	44,21,290

Show % Change

Documents

1

Concall - Oct 2017 Oct 2017

PPT

2

Concall - Jan 2018 Jan 2018

PPT

3

Concall - Apr 2018 Apr 2018

PPT

4

Concall - Oct 2018 Oct 2018

PPT

5

Concall - Jan 2019 Jan 2019

PPT

Frequently Asked Questions about Reliance Industries Ltd

What does Reliance Industries Ltd do?

Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Ambani's family has about 50% shareholding in the conglomerate.

Where is Reliance Industries Ltd (RELIANCE) listed?

Reliance Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: RELIANCE and BSE: 500325. You can view its live share price, financials, and ratios on Tapetide.

Which sector does Reliance Industries Ltd belong to?

Reliance Industries Ltd operates in the Energy sector within the Petroleum Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.

What is the market capitalisation of Reliance Industries Ltd?

Reliance Industries Ltd has a market capitalisation of approximately ₹1791022.75 Cr. Based on this, it is classified as a Large Cap stock.

What is the PE ratio of Reliance Industries Ltd?

The Price-to-Earnings (PE) ratio of Reliance Industries Ltd is 22.08. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.

What is the 52-week high and low of Reliance Industries Ltd?

Over the past 52 weeks, Reliance Industries Ltd has traded between a low of ₹1,253.2 and a high of ₹1,611.8. This range helps investors understand the stock's price volatility and recent trading levels.

Does Reliance Industries Ltd pay dividends?

Yes, Reliance Industries Ltd has a dividend yield of 0.45%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.

What is the Return on Equity (ROE) of Reliance Industries Ltd?

Reliance Industries Ltd has a Return on Equity (ROE) of 8.54%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.

How can I research Reliance Industries Ltd on Tapetide?

On Tapetide, you can view Reliance Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.